Petronas NEWS

Asia needs to reach net zero before the world can do so, Tengku Muhammad Taufik said when asked about his views on the world’s net-zero targets. Encompassing fossil fuels as part of the energy base, at least for the first half of the century, is needed if the world wants to move itself away from energy shocks, the Petronas CEO added.

US services giant Baker Hughes has been chosen to supply key equipment for Petronas’ third floating liquefied natural gas (FLNG) vessel.

Malaysia’s energy giant Petronas has no choice but to future-proof itself to enable the company to deliver sustainable value both as a national oil company and global energy player, according to chief executive, Tengku Muhammad Taufik.

UK supermajor Shell and Brazil’s state-owned Petrobras have agreed to collaborate on identifying new upstream business, decarbonisation opportunities and social and environmental initiatives.

Petronas is aiming to take out 11.6 million tonnes of CO2 of emissions by 2025 and has identified depleted fields to apply CCS technology.

Malaysian state-owned energy giant Petronas has signed a deal with compatriot SMJ (SMJSB) to farm out a key stake in the Samarang production sharing contract offshore Sabah, East Malaysia.

Malaysia’s national oil and gas company Petronas has reached agreement to sell its entire 74% majority stake in South Africa’s Engen to Vivo Energy, one of the largest African fuel retail operators and part of multinational energy company Vitol.

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.

Malaysia’s state-owned oil and gas Petronas has been awarded new acreage onshore and offshore East Java in Indonesia’s Petroleum Bid Round 2021.

Japanese trading house Mitsubishi has followed suit with its project partner Malaysian state-owned oil and gas company Petronas to step away from a $700 million offshore gas project in Myanmar

The Swiss commodities trader Vitol has become a trump card in British junior Savannah's game. In exchange for financial support for Savannah's purchase of ExxonMobil-Petronas's Doba assets, it should end up well placed to market the crude produced there.

A Petronas-led joint venture is analysing the results of the Bacalar-1 offshore exploration well in Mexico. The Malaysian national oil and gas giant has a 60% operated interest in Block 12, with Indonesia's Medco Energi and Thailand's PTT Exploration and Production on 20% each. Medco said in its latest exploration update that post-drill analysis was under way as part of the well evaluation process. Bacalar-1, which is understood to have spudded in August 2021, has so far cost US$52.2 million, added Medco. Petronas had a one-well contract with US-based offshore rig owner Pacific Drilling to use the drillship Pacific Khamsin for an exploration programme in Mexico starting in the third quarter last year.

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.

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.

Schlumberger announced an enterprise-scale deployment of advanced digital solutions for PETRONAS enabled by the DELFI cognitive E&P environment and integrated with the OSDU Data Platform. These digital solutions will enable PETRONAS to accelerate its field development planning and optimize production performance of its assets.

Petronas announced to become a net-zero emitter of greenhouse gases by 2050. The Malaysian giant said it will increase its effort to reduce the emission of Scope-1 and Scope-2 greenhouse gases in the upcoming years. Earlier this year, Petronas stated that they were already looking to expand its renewable energy portfolio. The dampened demand and low oil prices due to covid-19 made the statement more firm.

Petronas has completed a 50% farm-down of its participating interest in Block 52 offshore Suriname to ExxonMobil. The block covers an area of 4,749 sq. km, and is north of Paramaribo. Located in the Suriname-Guyana basin, where several major discoveries were made. Petronas’ upcoming exploration activities for Block 52 will involve the drilling of a well during Q3, while acquiring new 3D seismic data to evaluate the block's potential.

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.