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Petronas, Schlumberger explore opportunities in sustainability, digital, IoT, R&D
March 24, 2022
Source: Bernama

Petronas, Schlumberger explore opportunities in sustainability, digital, IoT, R&D

KUALA LUMPUR, March 24 (Bernama) - Petroliam Nasional Bhd (Petronas) has signed a memorandum of understanding (MoU) with Schlumberger WTA (Malaysia) Sdn Bhd (Schlumberger) to jointly explore opportunities in the areas of susta inability,digital and Internet of Things (loT) technologies,as wellas research and development (R&D) projects.

Bursa Energy Index up after crude oil prices jump 4%
Jan. 12, 2022
Source: The Edge Market

Bursa Energy Index up after crude oil prices jump 4%

KUALA LUMPUR (Jan 12): The Bursa Malaysia Energy index was up in Wednesday (Jan 12) morning trade after crude oil prices leapt by nearly 4% overnight. At 10:15am, the Bursa Malaysia Energy Index — which tracks oil and gas (O&G) counters — had added 10.38 points or 1.43% to 738.73 points. At the time of writing, five out of six of the sector’s top active counters were in positive territory, namely Sapura Energy Bhd (up 10% to 5.5 sen), SAPNRG-WA (up 16.67% to 3.5 sen), Reservoir Link Energy Bhd (up 4.55% to 57.5 sen), Bumi Armada Bhd (up 2.06% to 49.5 sen) and Hibiscus Petroleum Bhd (up 3.05% to 84.5 sen).

Petronas strikes third gas discovery at Balingian off Sarawak
Jan. 7, 2022
Source: Energy Voice

Petronas strikes third gas discovery at Balingian off Sarawak

Petronas Carigali, the upstream subsidiary of Malaysian national oil company (NOC) Petronas, has made a gas discovery at the Hadrah-1 wildcat exploration well of Block SK411, located in the shallow waters of Balingian province about 170 kilometres northwest off the coast of Sarawak, Malaysia. The Hadrah-1 well was successfully drilled to a total depth of 1,850 metres in November 2021 and encountered gas within an approximately 200-metre thick sequence of high-quality sandstone and carbonate reservoirs, Petronas said today.

Natural gas fuelling a sustainable future for Malaysian gas industry
Dec. 30, 2021
Source: Bernama.com

Natural gas fuelling a sustainable future for Malaysian gas industry

Kuala Lumpur, Dec -30 - Natural gas, the Cleanest hydrocabon, has an important role to play in carbon emission reduction, especially in Malaysia.

Petronas sees positive outlook for next three years on oil price recovery, pandemic SOP relaxation
Dec. 28, 2021
Source: The Edge Market

Petronas sees positive outlook for next three years on oil price recovery, pandemic SOP relaxation

KUALA LUMPUR (Dec 28): Petroliam Nasional Bhd (Petronas) said on Tuesday (Dec 28) it expects a positive outlook for 2022 to 2024 for the national oil company on a recovery in crude oil prices, as well as relaxation of Covid-19 standard operating procedures (SOPs) and directives besides an increase in plug and abandonment projects for planned retirement of oil and gas wells. Petronas said the information in its latest activity outlook report, which covers 2022 to 2024, is accounted for when a specific activity begins and not by contract award. "The outlook for 2022 to 2024 is based on full-year utilisation. Actual numbers may vary based on campaign durations and/or optimisation, project deferment and cancellation, etc. Actual numbers are based on data as at October 2021.

Climate change a major risk to global oil and gas reserves
Dec. 17, 2021
Source: The Edge Market

Climate change a major risk to global oil and gas reserves

KUALA LUMPUR (Dec 17): More than 600 billion barrels equivalent of the world’s commercially recoverable oil and gas reserves are facing high or extreme risks from more frequent storms and floods, rising sea levels and temperature extremes. In its Climate Change Exposure Indices released on Thursday (Dec 16), risk consultancy Verisk Maplecroft said Saudi Arabia, Iraq and Nigeria are among the oil and gas producing countries where the risk of climate-related events disrupting the flow of oil to global markets is the highest.

PTTEP Discovers Oil and Gas at Sirung-1 Well, Offshore Malaysia
April 1, 2021

PTTEP Discovers Oil and Gas at Sirung-1 Well, Offshore Malaysia

Thai oil and gas company PTTEP has made an oil and gas discovery from the first exploration well, Sirung-1, in Block SK405B, off the coast of Sarawak, offshore Malaysia. The well, spudded in January, was drilled to a total depth of 2,538 meters where it encountered a significant oil and gas column of more than 100 meters, in the clastic reservoirs. An appraisal well is scheduled in near future to assess the upside resources, PTTEP said

Shell to freeze staff salaries, warns of layoffs in green energy pivot
Feb. 12, 2021
Source: world oil

Shell to freeze staff salaries, warns of layoffs in green energy pivot

Royal Dutch Shell will not raise salaries for most of its employees this year as it looks to save cash amid an overhaul of the company. There will be as many as 9,000 job losses over the next two years, with cuts already announced in Netherlands, UK and Malaysia. In July, Chief Financial Officer Jessica Uhl told analysts that halted bonus payouts would save the company about $1billion.

Petrobras inks letter of intent with MISC Berhad for Mero 3 FPSO charter
Aug. 18, 2020

Petrobras inks letter of intent with MISC Berhad for Mero 3 FPSO charter

Petroleo Brasileiro (Petrobras) has signed a Letter of Intent (LoI) with Malaysia's MISC Berhad for the charter of a floating production, storage and offloading (FPSO) vessel, to be deployed at the Mero field. The Mero field is an ultra-deepwater oilfield situated approximately 180km offshore Rio de Janeiro in the Libra block, Brazil. The FPSO is expected to commence operation in the first half of 2024.

Pertamina and Petronas ink crude swap agreement
Feb. 19, 2020

Pertamina and Petronas ink crude swap agreement

Indonesian state-run, PT Pertamina inked a framework agreement with Malaysia's Petronas to sell and buy crude this year. The deal, which was announced through a statement yesterday, will see Petronas and Pertamina swapping crude produced in the Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Indonesian fields of Jabung and Ketapang. The agreement follows up from Petronas and Pertamina's plan last year to exchange crude.

Petronas awards Malaysian offshore block to EnQuest
Dec. 6, 2019

Petronas awards Malaysian offshore block to EnQuest

Production & Development major, EnQuest has secured a production sharing contract (PSC) from Petronas for the Block PM409, offshore Malaysia. Enquest landed the contract through its wholly-owned subsidiary EnQuest Petroleum Production Malaysia (EnQuest) in partnership with Petronas Carigali (PCSB). While EnQuest will have an operating interest in the block with 85% stakes, while PCSB has the remaining 15% interest.

Petronas sets up $350mn venture capital arm
Oct. 5, 2019

Petronas sets up $350mn venture capital arm

Petronas has set up a $350 million venture capital arm. The state firm's newly-launched Petronas Corporate Venture Capital is for industrial and energy investments. "The fund will act as a minority stakeholder in early to growth-stage companies", said the company. Petronas is Malaysia's largest employer and contributor to government revenue. The company has also informed that it is looking for investment opportunities in North America, Europe and Asia Pacific.

PTTEP discovers large gas field offshore Malaysia
July 2, 2019

PTTEP discovers large gas field offshore Malaysia

Thailand-based E&P major, PTTEP has found an enormous gas field with first well drilled on the SK410B block offshore Sarawak, Malaysia. PTTEP’s Malaysian subsidiary discovered 252m of net gas pay, indicating a multi-trillion cubic feet (tcf) gas discovery. Drilled to a depth of 3,810 m, the Lang Lebah-1RDR2 is supposedly PTTEP’s largest discovery.

Petronas starts naphtha cracking unit at RAPID
June 20, 2019

Petronas starts naphtha cracking unit at RAPID

Sources have informed that Malaysian state-run Petronas and Saudi Aramco have commenced operations at the new 1.2-million-tons-per-year naphtha cracker. The naphtha cracker is integral to the $2.7 billion joint-venture oil refinery and petrochemical project, Refinery, and Petrochemical Integrated Development (RAPID) is located in Pengerang in the state of Johor, Malaysia.

KNM secures big work worth RM27.71m
June 15, 2019
Source: The Star

KNM secures big work worth RM27.71m

Malaysian process equipment manufacturer, KNM Group Bhd has landed two contracts worth a combined sum of about RM27.71mil through its subsidiaries. As part of the first contract, the firm will supply air cooler heat exchangers to the Petroleum Refinery and Polypropylene Plant in Nigeria. The second contract will see the firm delivering replacement heat exchangers to Khor Al Zubair’s gas processing plant in Iraq.

Petronas announces its Q1 2019 Profit
June 3, 2019

Petronas announces its Q1 2019 Profit

Petronas, the leading Malaysian oil and gas company, has announced its results for the first quarter (Q1) of 2019. The company reports a profit after tax (PAT) of about $3.4bn which represents a 9% increase on Q1 2018. Petronas ascribes this rise to higher volumes of sales for petroleum products along with the weakening effect of Malaysian Ringgit against the US dollar.

Fire put out at Petronas Refinery
April 12, 2019
Source: Reuters

Fire put out at Petronas Refinery

Fire safety authorities, today, put out a fire at a Malaysian oil refinery owned by state-run oil major, Petronas. An explosion occurred early morning at the Refinery and Petrochemical Integrated Development (RAPID). A testing procedure was ongoing at the project for planned commercial operations later this year. RAPID is a 50-50 joint-venture between Petronas and Saudi Aramco.

Murphy sells its Malaysian assets for $2.13 billion
March 22, 2019

Murphy sells its Malaysian assets for $2.13 billion

Murphy Oil Corp will sell two of its Malaysian assets with an intent to exit Malaysia after two decades and enter U.S. shale oilfields. The company is selling the assets to PTT Exploration and Production Public Co Ltd for $2.13 billion in cash. Murphy has informed that the Thai energy company will pay bonus to Murphy if the exploratory projects start showing results before October 2020.

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