Malaysian Oil And Gas News

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…

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…

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.

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…

Strategic Marine, a Singapore-based shipbuilder, has received an order for the construction of a 40-meter Fast Crew Boat from Blue Petra Sdn Bhd, a subsidiary of Great Ocean Supply & Services, based in Malaysia.Great Ocean is a licensed Petronas contractor and a preferred supplier to the Malaysian oil and gas industry, and the vessel’s delivery is scheduled for the 3rd quarter of 2022, Strategic Marine said.The new vessel will feature a remote-controlled water monitor with a capacity of 1200m³/hr…

Malaysian oil and gas giant Petronas has awarded two Front End Engineering Design (FEED) contracts to a JGC Corporation-Samsung Heavy Industries consortium and to Saipem as part of an international dual FEED design competition for a nearshore liquefied natural gas (LNG) project in Sabah. The project, with a minimum capacity of 2.0 million tonnes per annum (MTPA) is a first of its kind in Malaysia, Petronas said.The FEED design competition is expected to take place over the course of 10 months with the Final Investment Decision (FID) planned for end of 2022.Subject to FID…

Malaysian oil and gas company Petronas said Wednesday it had delivered its first carbon neutral liquefied natural gas (LNG) cargo to Shikoku Electric.The cargo was delivered from the Petronas LNG Complex (PLC) in Bintulu and was received Tuesday at the Sakaide LNG terminal in Shikoku Island, Japan.Petronas said it had offset the estimated life cycle carbon footprint of the LNG cargo through renewables-based carbon credits for the emissions generated from upstream gas exploration and production…

Malaysian oil and gas company Petronas has become the first energy company to produce LNG from two floating LNG facilities, after the LNG shipment was delivered by its floating LNG facility PFLNG DUA on Wednesday, March 24.The cargo was loaded onto the Seri Camar LNG Carrier operated by MISC Bhd for shipment to our LNG Buyer in Thailand. The PFLNG DUOA  is located at Block H Rotan gas field, around 140 kilometers offshore Sabah, Malaysia."This milestone confirms the viability…

Malaysian oil and gas giant Petronas said Monday that its PFLNG Dua floating LNG facility has recently produced its first LNG. This is the company's second FLNG Unit, and its first deepwater FLNG facility.The PFLNG Dua is located at the Rotan gas field, 140km off Kota Kinabalu, Sabah, Malaysia. "In collaboration with its upstream Production Sharing Contract partner, PTT Exploration and  Production, it has successfully completed the subsea commissioning phase and achieved its first has on 6 February 2021…

Malaysian oil and gas giant said Thursday it was investigating the cause behind the incident that happened earlier this week when the Dayang Topaz offshore vessel crashed into its platform at the Baram field, off Sarawak."A thorough assessment of the platform structures is being carried out. Petronas is committed to undertaking all the necessary measures to ensure that the platform structures remain safe and secure," the company said.According to Petronas, the company's investigations…

Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) would build a third floating liquefied natural gas (FLNG)unit if there’s a demand.Petronas is the only company to own and operate two FLNGs, namely PFLNG Satu and PFLNG Dua.Bernama reported, quoting the gas and new energy business executive vice-president and chief executive officer Adnan Zainal Abidin, that if there is a reservoir with a sizeable amount of reserves and with the right gas composition that it is economically viable, it opens up a case for another floater.According to the Bernama report, while the first two FLNGs are Malaysia-bound, the third one might be deployed elsewhere…

Malaysian oil and gas company Petronas named its second floating liquefied natural gas (LNG) facility, the PFLNG Dua, in a ceremony in Geoje, South Korea.The floating LNG facility is designed to extract gas from deepwater gas reservoirs in depths up to 1,500 meters.With PFLNG Dua, the national oil and gas company of Malaysia owns and operates two floating LNG facilities, following the success of PFLNG Satu which has been in operation since 2017. This achievement demonstrates Petronas’ strong position in the LNG industry leading the way in innovative solutions to ensure a reliable and secure supply of LNG to meet the growing demand for cleaner energy.

Dutch multinational geo-data specialist Fugro has completed the second of three Malaysian seep hunting and geochemical campaigns for Malaysian oil and gas company ‘Petronas’.According to the provider of geotechnical, survey, subsea, and geoscience services, the first campaign was conducted offshore Sabah, Malaysia, and took place between December 2018 and March 2019, using 2012 built Fugro Equator, which acquired geophysical data including multibeam echo sounder (MBES) and sub-bottom profiler (SBP) data used to interpret geologic features and optimize target selection for geochemical sampling.The second campaign was located offshore Sarawak…

Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) said that it is well-positioned to meet rising LNG demand and expands its flexible and innovative LNG solutions for existing and new markets."With its growing portfolio of LNG supply sources in Malaysia, Australia, Egypt and soon in Canada, Petronas is well-positioned to provide clean energy through its flexible and innovative LNG solutions to existing and new demand markets, as well as to emerging trading hubs," said a press statement from the fully integrated oil and gas company.Petronas President and Group Chief Executive Officer Tan Sri Wan Zulkiflee Wan Ariffin said: “Asia…

Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019.“As a major player in the LNG business, PETRONAS is well-positioned to support the strategic intent for Malaysia to become the regional LNG bunkering hub,” it said in the Petronas Activity Outlook 2019-2021 report."Efforts are now being put in place towards advocating LNG as the preferred marine fuel of choice. In close collaboration with industry associations like MOSVA, programmes are aligned to encourage migration; to develop necessary infrastructures to support a swift and effective migration of local (currently diesel-fueled) OSV fleet to LNG…

Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) through its subsidiary, Petronas LNG Ltd (PLL) and Vitol Asia Pte Ltd (Vitol) announced the signing of binding Heads of Agreement (HOA) for long-term liquefied natural gas (LNG) sale and purchase (SPA) agreement.Under the terms of the agreement signed on 1 October 2018, the LNG supply to Vitol commencing in 2024 will be approximately up to 0.8 million tonnes per annum for a period of up to 15 years on both Delivered Ex-Ship (DES) and Free on Board (FOB) basis, said a press release from the global energy and commodity trading company, which is also one of the largest and most experienced independent traders of LNG.The primary supply to Vitol will come from LNG Canada as well as from other PLL’s global LNG supply portfolio.

New research by DNV GL, the technical advisor to the oil and gas industry, has revealed that confidence in growth in the Malaysian oil and gas sector has tumbled since 2014, from 96% to 21%, with tough, short-term, cost-cutting efforts expected to increase in 2017. Diversification will be a hallmark of 2017, with 49% of those surveyed looking to increase investment in, or diversify into, areas beyond oil and gas. Thirty-seven per cent of senior oil and gas professionals in Malaysia are actively looking for new gas projects as a result of falling oil prices, compared to 31% globally. However, the Malaysian respondents' views on renewable energy investment in 2017 are divided, with 49% expecting it to decrease while 44% expect it to rise or stay the same.

SapuraKencana Petroleum Bhd's second largest shareholder plans to sell up to $305 million worth of shares in the Malaysian oil and gas services firm, according to a term sheet of the deal seen by Reuters. Norway's Seadrill Ltd., the world's top offshore oil driller, is offering up to 230 million shares of SapuraKencana at 4.3 ringgit each, putting the total value of the deal at up to 989 million ringgit ($305 million). The price is equivalent to a 3.4 percent discount to Wednesday's closing price of 4.45 ringgit. The deal consists of a base offer of 180 million shares, with an option to grow by 50 million shares, according to the terms. Maybank was hired as sole placing agent for the selldown. ($1 = 3.2410 Malaysian Ringgits)   Reporting by Elzio Barreto

The government on March 6 awarded two petroleum exploration licenses to Malaysian Oil and gas exploration company Petronas over two blocks located in Sindh. According to the agreement, the company will start exploration activities in these blocks for $11.5 million. The agreement was signed by Secretary Petroleum Ahmed Waqar, DG Petroleum Concession Muhammad Naeem Malik and Country Director Petronas Muhammad Johari on behalf of their organizations. (Source: PakTribune.com)