Petronas News

Malaysia’s MISC Group has entered into time charter party (TCP) and shipbuilding contracts for the development of world’s first two ammonia dual-fuel Aframax oil tankers.The TCP contract has been signed with Petronas' PETCO Trading Labuan Company (PTLCL), through MISC Group's petroleum arm AET.Using these vessels, PTLCL will be able to transport its products to customers around the world while contributing to the industry decarbonization by utilizing ammonia as the cleaner alternative…

Esgian reports various drilling contractors disclosing details of discussions with Saudi Aramco regarding jackup contract suspensions in its Week 14 Rig Analytics Market Roundup. These contractors include Shelf Drilling, ADES, Borr Drilling, Arabian Drilling, COSL, and ARO Drilling.Meanwhile, Transocean, Noble, and COSL rigs have firmed up new work in the US Gulf of Mexico, Suriname, and the North Sea, respectively.Report overview:ContractsShelf Drilling has received a notice of suspension of operations on four jackup rigs from a customer in the Middle East.

Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.Drilling Activity and DiscoveriesThe Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling permit for an exploration well in…

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

With more ships heading around the Cape of Good Hope due to attacks in the Red Sea region and a shutdown in their main South African bunkering operations, Mercuria and Trafigura have started refuelling services in Mauritius, four sources said.The two trading houses have opened operations in Port Louis to compensate for the shutdown at South Africa's Algoa Bay which stems from a tax dispute with authorities, sources familiar with the matter told Reuters.Algoa Bay is South Africa's…

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

Indonesia is looking to offer more oil and gas blocks in North Sumatra basin this year following a major discovery by Mubadala Energy in a bid to accelerate gas production, a senior energy ministry official said on Tuesday.The energy ministry is currently reviewing potential energy blocks for auction this year, director general for oil and gas Tutuka Ariadji told reporters."North Sumatra basin is one of the potential area for further exploration after a major discovery recently in Layaran-1 by Mubadala Energy," Tutuka said.United Arab Emirates' Mubadala said in December it had discovered a maj

Italian shipowner Fratelli Cosulich and PETCO Trading Labuan Company Limited (PTLCL), a trading arm of Malaysian energy company Petronas, have signed a two-year charter agreement for Paolina Cosulich LNG bunker barge.Operating under PTLCL, a global energy solutions provider in key bunker hubs with network in Southeast Asia, Japan, Middle East and South Africa, Paolina Cosulich will cater to the increasing demand for LNG as bunker fuel in the Straits.Fratelli Cosulich’s latest LNG bunger barge features a cargo capacity of 8…

Esgian has published its Week 49 Rig Market Roundup highlighting new drilling activity in the North Sea and a new licensing deal in Morocco.Drilling Activity and DiscoveriesSerica Energy is continuing with plans for its four-well drilling campaign in the UK North Sea, scheduled for 2024 and early 2025. The campaign will be carried out using the semisubmersible COSLInnovator. All four wells are production wells. The first well in the campaign will be a sidetrack of an existing well (B1z) on the Bittern field.

Malaysia's MISC has entered into a binding Heads of Agreement (HOA) with Pengerang LNG (Two) Sdn. Bhd. (PLNG2SB), a subsidiary of PETRONAS Gas Berhad (PGB), for the supply, operation, and maintenance of a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU)intended to be deployed at the PETRONAS LNG Regasification Terminal Pengerang (RGTP) in Johor."This project is a continuation of the collaboration between MISC and PGB in 2012 that brought about the successful deployment of FSU Tenaga Satu and FSU Tenaga Empat at the LNG Regasification Terminal Sungai Udang…

Petronas CCS Ventures, a subsidiary of the Malaysian oil and gas giant Petronas has signed a term sheet with Mitsui O.S.K Lines, Ltd. (MOL) and MISC Berhad for the potential incorporation of a joint venture entity to invest in developing and monetising Liquefied Carbon Dioxide (LCO2) carriers for Carbon Capture and Storage (CCS) projects in Malaysia. The parties have agreed in principle on the key commercial terms to allow progress to the next stage."Building on the February 2022…

At Gastech 2023, Samsung Heavy Industries (SHI) offers a separate 216 sq. m. exhibition hall at the Singapore Expo venue showcasing its technological developments in LNG and LCO2 transport vessels, centered around the FLNG (Floating Liquefied Natural Gas Production Facility) models.On the September 7, SHI plans to hold a future eco-friendly technology seminar for key customers to address global climate change. Dubbed "Sustainable Future with Green & Digital," the seminar will feature participation from major customers…

Japanese shipping company Mitsui O.S.K Lines (MOL) 9104.T has received in-principle approvals for a liquefied CO2 vessel and a floating storage and offloading unit (FSO) from the American Bureau of Shipping, its Chief Executive Takeshi Hashimoto said on Wednesday.The vessel and the FSO were developed by the company along with Malaysia's state-run oil company Petronas and Shanghai Merchant Ship Design and Research Institute, Hashimoto said in a statement.The statement gave no further…

Malaysia said on Saturday it was firmly committed to protecting its sovereign rights and interests in the South China Sea after China expressed concern about Malaysian energy projects in a part of the sea that China also claims.Malaysian Prime Minister Anwar Ibrahim said China was worried about activity by the state energy firm Petronas in a part of the South China Sea that Malaysia says is its territory.Anwar said he was open to negotiations with China, drawing criticism from the opposition…

Malaysian oil and gas company Petronas Carigali has awarded a work order to Perdana Nautika, a subsidiary of Perdana Petroleum, for the supply of an accommodation work barge.The contract started on March 20, 2023, and is for up to two 229 days from the start date.Perdana will provide one accommodation work barge with crews and equipment to perform a continuous service as per the scope of works agreed to assist PCSB’s project activities.Perdana said the contract was expected to contribute positively to the earnings and net assets of the group for the financial year ending 31 December 2023; however, it did not share information on the contract value.According to Perdana Petroleum's website, the company owns five work barges, each capable of accommodating a 300-strong crew.

Bursa Malaysia-listed Petra Energy has secured a contract with Petronas Carigali to provide accommodation workboat Petra Galaxy.The value of the contract is based on work orders issued by PCSB throughout the contract duration, Petra Energy said Friday.The duration of the contract is up to 255 days from the start date, effective from February 17, 2023, with an option to extend up to 60 days.According to Petra Energy's website information, the Petra Galaxy can accommodate 189 persons aboard.

U.S. liquefied natural gas (LNG) company Venture Global LNG said on Monday that it will go forward with the second phase of its Plaquemines LNG export plant in Louisiana after securing $7.8 billion of financing.Phase two's final investment decision (FID) comes after the first phase was sanctioned in May.Venture Global said that completes about $21 billion in total for Plaquemines, the largest project financing ever done in the space, to build the terminal that would produce about…

U.S. exports of liquefied natural gas (LNG) in October remained capped by plant outages, with producers shifting more cargoes to Asian buyers last month, according to Refinitiv Eikon tanker monitoring data, after of a pipeline leak cut supplies from Malaysia. LNG prices recently have cooled with Europe's gas storage levels rising to over 90% of target capacity and a slow start to winter. In Asia, however, a declaration of force majeure on gas supplies by Malaysian state-energy company Petronas PETR.KL  has LNG customers in Japan scrambling for alternative cargoes.

Singaporean shipbuilder Strategic Marine on Tuesday announced it secured a four-vessel crew boat order from Malaysian operator Surya Nautika.Slated for delivery to the licensed Petronas contractor progressively from the first quarter of 2023, the newbuilds will be Strategic Marine's 40-meter Gen3 Fast Crew Boat (FCB) designed by Southerly Designs of Australia in collaboration with Strategic Marine, with bespoke layout and features for Surya Nautika.The new vessels will feature a remote-controlled water monitor with a capacity of 1200m³/hr…

Singapore-based shipbuilder Strategic Marine has delivered a new 40-meter Fast Crew Boat (FCB) to Malaysia-based Blue Petra.Blue Petra is a subsidiary of Great Ocean, a licensed Petronas contractor and a supplier to the Malaysian oil and gas industry. Blue Petra focuses on providing FCBs to provide support offshore operations in Malaysian waters.The Blue Petra 1 vessel is the first FCB delivered to Great Ocean. It is powered by three Caterpillar C32 engines, and, according to Strategic Marine…

Australia will not put curbs on gas exports after reaching a deal with its three east coast producers of liquefied natural gas (LNG) to avert a forecast supply crunch, Resources Minister Madeleine King said on Thursday.The government threatened the export curbs in August, worrying Asian buyers and LNG investors, following a warning by the competition watchdog that the east coast market faced a shortfall of 57 petajoules of gas in 2023.The pact unveiled on Thursday provides for Queensland Curtis LNG…

ADS Maritime Holding has agreed to acquire a 5 % shareholding in AET Sea Shuttle AS and AET Sea Shuttle II AS, the owners of four modern shuttle tankers operating in the North Sea, mainly on long term charters to Equinor. The vessels are Eagle Blane, Eagle Balder, Eagle Bergen, and Eagle Barents. Shuttle tankers are used for the offloading and transporting oil from offshore oil installations.The majority partner in the owning companies will remain major Malaysian tanker owner AET, part of the MISC/Petronas Group. "The vessels are operated by OSM Maritime. Sellers are ADS Shipping Limited.