US liquefied natural gas (LNG) developer Venture Global will supply Malaysia’s Petronas with 1 million tonnes per year (t/y) of LNG for a 20-year term after the pair signed a new deal. Significantly, Asian LNG buyers, such as Petronas, are increasingly locking in new long-term supplies as more European buyers enter the race for LNG.
Upstream oil and gas projects with over 1.4 billion barrels of resources and $8.5 billion worth of greenfield investments are targeted for final investment decisions (FIDs) in Southeast Asia this year, based on operators’ plans, reported Rystad Energy. However, delays are likely with more activity expected to happen next year, noted the energy consultancy.
Japanese offshore drilling company Japan Drilling Co., Ltd. (JDC) will drill up to 10 wells for Petronas offshore Malaysia with its semi-submersible Hakuryu-5.
Petronas has awarded Block SK427 off the coast of Sarawak to SK earthon, a subsidiary of South Korea’s SK Innovation, and Petroleum Sarawak Exploration & Production (PSEP) in an area where several discoveries were made last year. Petronas and SK will also collaborate on carbon capture and storage (CCS) opportunities.
Petronas and Sabah Oil & Gas Development Corporation (SOGDC) have signed a key memorandum of understanding (MoU) that will see the Malaysian national energy company build Sabah’s first and largest near-shore floating liquefied natural gas (LNG) facility estimated to cost MYR8.8 billion ($2.02 billion).
A junior-level executive of Petronas Carigali is among nine individuals held by the Malaysian Anti-Corruption Commission (MACC) since last Friday to assist an investigation into corruption involving projects at the upstream subsidiary of the state-backed energy company.
Malaysia’s national energy company Petronas has confirmed that one of its junior level executives has been arrested by the Malaysian Anti-Corruption Commission (MACC) for suspected graft. The news underscores that the risk of corrupt practises remains high at Petronas.
Strohm, a leading manufacturer of fully bonded Thermoplastic Composite Pipe (TCP), has signed an agreement with Petronas’ technology arm, Petronas Technology Ventures, to commercialise TCP in the industry and scale its utilisation across the Malaysian state-backed energy company’s facilities.
Petronas has signed a memorandum of understanding with Schlumberger to jointly explore opportunities in the areas of sustainability, digital and Internet of Things (IoT) technologies, as well as research and development projects.
Malaysia's Petronas has signed production sharing contracts (PSCs) for five offshore exploration blocks, namely SB412, 2W, and X located off the coast of Sabah, and SK439/SK440 situated off the coast of Sarawak. Significantly, Shell has signed up for ultra-deepwater exploration acreage.
The outlook for liquefied natural gas (LNG) production in Asia has taken a positive turn following Mubadala Petroleum starting first gas flows from Pegaga to the Petronas-led Bintulu LNG export complex in Malaysia.
Malaysia’s Petronas and Japanese oil company ENEOS Corporation (ENEOS) have signed an agreement to advance studies for a commercial hydrogen production and conversion project at Kerteh in the Malaysian state of Terengganu. The move follows a pact signed between Malaysia and Japan last August to develop a clean hydrogen supply chain between the nations.
Italy’s Eni (BIT:ENI) remains unable to resume upstream exploration activities in the Ambalat Block offshore Indonesia as a maritime territorial dispute between Malaysian and Indonesia has not been resolved.
Malaysia has filed a fresh charge against a local manager of Norwegian oil services provider Aker Solutions, accusing him of providing false information to the country's corporate regulator, according to the company and a court document, reported Reuters.
Hibiscus Petroleum (KLSE:HIBISCS) said it continues to assess future growth opportunities in the North Sea and Southeast Asia as the Malaysian-listed company strives to double its production by 2026.
Malaysia’s national oil company Petronas is setting up a business unit focusing on clean energy solutions as part of a global operational shuffle.
Aberdeen-headquartered ADC Energy has been awarded a third contract in Asia-Pacific (APAC) in the first quarter of this year.
Petronas and Japan Petroleum Exploration (JAPEX) will collaborate on carbon capture and storage (CCS) opportunities in Malaysia as the nation aims to become a CCS hub for Southeast Asia. As part of a separate agreement, Petronas is also exploring and studying CCS solutions with Shell (LSE:RDSA).
Malaysia’s Petronas is seeking investors for 14 exploration blocks, six clusters of discovered resource opportunities and one cluster of late life assets in its Malaysia Bid Round 2022 (MBR 2022). Significantly, Petronas is making vast amounts of data available to potential investors.
Maersk Drilling has landed $32 million worth of contract extensions off Malaysia.
Hibiscus Petroleum (KLSE: HIBISCS) has completed its acquisition of Repsol’s upstream assets in Malaysia and Vietnam that will increase the Malaysian-listed company’s oil and gas production almost threefold.
Malaysia’s Hibiscus Petroleum has received the joint approval from Petronas and PetroVietnam to take control of Repsol’s interests in the Block PM3 CAA production sharing contract (PSC) and unitisation agreement of the East Bunga Kekwa – Cai Nuoc field under Block 46 PSC.
Is there a space for carbon capture and storage (CCS) as a service? Recently formed Lapis Energy is betting there is, eyeing opportunities in the US, UK, Europe and South East Asia.
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.
Malaysia’s Petronas and the Sabah State Government on Tuesday launched the Sabah gas masterplan that serves as a reference for both parties in guiding the way forward for the further development of natural gas in the Malaysian state.