Malaysia’s probable and proven petroleum reserves at 6.9 billion barrels, about 61% in Sarawak, says Azalina

May 24, 2023

Dateline 2023-02-15, The Bono:

Malaysia’s probable and proven reserves of petroleum, which is indicated as its 2P reserves, totalled 6.9 billion barrels of oil equivalent (boe), of which 4.2 billion boe are in Sarawak, followed by 1.3 billion boe in Sabah.

Generally, 2P reserves have a more than 50% chance of being technically and economically possible to be produced.

The country’s petroleum reserves could last 15 years based on the reserves life index calculation, according to Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Sabah’s first near-shore LNG development reaches final investment decision

March 8, 2023

Dateline 2022-12-27, The Edge:

Petroliam Nasional Bhd (Petronas) has reached the final investment decision (FID) for a near-shore liquefied natural gas (LNG) facility in Sabah.

The engineering, procurement, construction and commissioning (EPCC) contract for the project was awarded to the winner of the dual-front-end engineering design competition in October last year.

Sabah Chief Minister Datuk Seri Hajiji Noor said the LNG project is a step in the right direction, as the state government continues to pursue more deals to get additional revenue via equity participation for Sabah.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Strong year for drillers offshore Malaysia, Petronas confirms

March 1, 2023

Dateline 2022-12-23, Offshore:

Petronas and its petroleum arrangement contractors (PACs) achieved 10 hydrocarbon discoveries from 16 wells drilled offshore Malaysia this year.

The tally comprised eight oil and gas finds off Sarawak, and one each offshore Sabah and Peninsular Malaysia. The largest oil discovery was Nahara-1 in Block SK306 in Sarawak’s Balingian province.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Sabah gas supply: Experts laud govt’s move to transfer control

February 22, 2023

Dateline 2022-12-22, NST:

Economists believe the government’s decision to transfer full regulatory control of gas supply to the Sabah government signifies a step ahead in efforts to uphold the Malaysia Agreement 1963 (MA63).

This, they said, could also aid Sabah by giving it better knowledge and timely information on the local gas supply and demand conditions, enabling the state to set prices.

…

Leave a Comment » | Malaysian election, oil and gas | Tagged: , | Permalink
Posted by Wata

Potential in Ultra-deepwater Sabah, Malaysia – Can it be Realized?

January 18, 2023

Dateline 2022-10-17, SP Global:

Exploration and development activities in deepwater Sabah, Malaysia have increased since the first oil and gas discovery, Kamunsu East 1, in the late 1990s by Shell. More than 45% of discoveries in the area are found within the Upper Miocene Cycle V reservoirs of the Baram Delta and the Northwest Sabah Province.

The Kikeh field was the first deepwater development in Malaysia which was discovered in 2003 and commenced production in 2007. Six other fields have come onstream since then with the latest, the Rotan field by PTTEP, in early 2021. A variety of production systems have been used for the producing fields in deepwater Sabah. These production systems range from spar dry tree unit (DTU) (Kikeh field), semisubmersible floating production systems (Gumusut-Kakap field), tension leg platforms (TLP) (Malikai field) and floating liquified natural gas (FLNG) (Rotan and Buluh fields).

…

Leave a Comment » | oil and gas | Tagged: , , , , , | Permalink
Posted by Wata

Petronas pipeline leak hit part of Malaysia’s LNG exports

January 10, 2023

Dateline 2022-10-10, Reuters:

Contracts to export Malaysian liquefied natural gas (LNG) that sources gas from the northern Borneo state of Sabah are under force majeure following a pipeline leak, trade sources said on Friday.

Malaysia LNG, majority owned by Petronas, declared force majeure on LNG supplies to its customers due to a leak on the Sabah-Sarawak Gas Pipeline on Sept. 21, a Mitsubishi Corp (8058.T) spokesperson said on Thursday.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Petronas pipeline leak hit part of Malaysia’s LNG exports -sources

January 6, 2023

Historical, don’t sell your shares.

Dateline 2022-10-07, Nasdaq:

Contracts to export Malaysian liquefied natural gas (LNG) that sources gas from the northern Borneo state of Sabah are under force majeure following a pipeline leak, trade sources said on Friday.

Malaysia LNG, majority owned by Petronas, declared force majeure on LNG supplies to its customers due to a leak on the Sabah-Sarawak Gas Pipeline on Sept. 21, a Mitsubishi Corp 8058.T spokesperson said on Thursday.

This came after Petronas declared force majeure on gas supplies to Malaysia LNG, in which Mitsubishi also owns a stake.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Gumusut-Kakap deepwater field achieves 1st oil production

January 5, 2023

Dateline 2022-10-03, The Malaysian Reserve:

THE Gumusut-Kakap (GK) Phase 3 deepwater development project on the east coast of Sabah achieved its first oil production on July 31, 2022, as two new oil producer wells and two water injector wells were drilled.

Petronas said once the project is fully completed in the first quarter of 2023 (1Q23), the four wells will add around 25,000 barrels per day to GK’s existing production capacity.

Sabah Shell Petroleum Co Ltd is the operator of the GK project, in partnership with Petronas Carigali Sdn Bhd, ConocoPhilips Sabah Ltd, PTT Exploration and Production Public Co Ltd, and PT Pertamina Malaysia Eksplorasi Produksi.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

Malaysia’s Petronas, Sabah state launch masterplan for gas development

December 12, 2022

Dateline 2022-09-XX, Arab News:

Malaysia’s state oil firm Petronas and the resource-rich state of Sabah on Tuesday launched a masterplan to develop the state’s natural gas resources, including the construction a liquefied natural gas plant.

The Sabah Gas Masterplan is the result of a joint study between the state and Petronas, both parties said in a joint statement.

It entails the construction of an LNG plant with a capacity of 2 million tonnes per annum at the Sipitang Oil and Gas Industrial Park, which will provide opportunities for Sabah to expand its LNG distribution across the state, they said.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Petronas plans Phase 2 water injection support at South Furious offshore Sabah

November 9, 2022

Dateline 2022-08-25, Offshore:

Petronas has approved the South Furious 30 Water Flood Phase 2 project in the North Sabah production sharing contract offshore Malaysia, according to partner Hibiscus Energy.

This involves drilling of six water injectors and five oil infill wells at the South Furious 30 Field, the aims being to increase production and reserves recovery via pressure support from water injection and sweep into existing and new oil producers.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

« Previous Entries