Upstream M&A in Southeast Asia: will the oil and gas majors divest in 2023?
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Malaysia
Chinese patrols near oil and gas in disputed South China Sea hit new peak with tensions high
China’s Coast Guard maintained near-daily patrols at key features across the disputed South China Sea last year, ramping up its presence as tensions over the waterway with Southeast Asian neighbours remain high, new tracking data shows.
Petronas and ExxonMobil sign CCS project deals
Petronas has signed two project development agreements with ExxonMobil (NYSE:XOM) to jointly pursue carbon capture and storage (CCS) activation projects in Malaysia.
Malaysia’s MISC teams up with Japan’s Mitsui and Korea’s SHI on CCS
Malaysia’s international energy shipping company MISC, which is closely tied to Petronas, has signed agreements with Japan’s Mitsui, South Korea’s Samsung Heavy Industries (SHI), and Austria’s ANDRITZ, to explore carbon capture and storage (CCS) solutions in the maritime value chain.
ExxonMobil and Japan’s Nippon Steel explore CCS deal
Japan’s Nippon Steel is considering capturing carbon dioxide (CO2) emissions from its Japanese steel mills for underground storage at facilities linked to ExxonMobil (NYSE:XOM) in countries including Australia, Malaysia and Indonesia, reported Nikkei Asia.
US to boost pressure on China to stop importing Iran oil, envoy says
The US said it will increase pressure on China to stop buying Iranian oil, as the White House seeks to enforce sanctions aimed at curbing the Islamic Republic’s nuclear activities.
Petronas awards Fugro deal to progress Kelidang offshore Brunei
Dutch company Fugro said Wednesday it had received a "sizeable" contract from Malaysia’s Petronas Carigali, for the Kelidang Cluster gas field development project offshore Brunei.
Ping Petroleum wins first Malaysia oil and gas PSCs
Petronas has awarded Ping Petroleum two production sharing contracts (PSCs) for discovered oil and gas resources in Malaysia marking the company’s debut in its home country.
Baker Hughes wins work for Petronas’s giant Kasawari CCS
Baker Hughes will supply carbon dioxide (CO2) compression equipment to Petronas Carigali’s Kasawari offshore carbon capture and storage (CCS) project in Sarawak, Malaysia, after winning a deal with Malaysia Marine and Heavy Engineering (MMHE).
Petronas awards EPCC prize for FLNG power plant
Malaysia’s Petronas has awarded local engineering company Kejuruteraan Asastera Berhad (KAB) a MYR230 million (US$52.6 million) engineering, procurement, construction, and commissioning (EPCC) contract for a 52MW power plant for an upcoming floating liquefied natural gas (FLNG) project.
JGC celebrates third Petronas nearshore FLNG win
JGC will oversee work on the FLNG topsides, onshore facilities and management of the overall project. SHI will handle hull work and modular fabrication of the topside.
Petronas awards FLNG deal to JGC and Samsung Heavy Industries
Japan’s JGC and South Korea’s Samsung Heavy Industries will build Petronas’ third floating liquefied natural gas (FLNG) project after winning the engineering, procurement, construction and commissioning (EPCC) contract.
Malaysia doubles exploration success in 2022 with 10 discoveries
Petronas and its Petroleum Arrangement Contractors (PACs) recorded a total of 10 hydrocarbon discoveries in Malaysia in 2022, following the increase of exploration activities in the country.
Shell to sell its share in Malaysia’s Baram Delta for $475m
Shell (LON:SHEL) said Tuesday that it has agreed to sell its stake in two offshore production sharing contracts (PSCs) in Malaysia’s Baram Delta to Petroleum Sarawak Exploration & Production (PSEP).
More CCS for Malaysia as Petronas and JX Nippon team up
Petronas Carigali has entered into a heads of agreement with JX Nippon Oil & Gas Exploration Corporation (JX Nippon) to collaborate in developing a joint proposal to monetise the gas potential within the Bujang, Inas, Guling, Sepat and Tujoh (BIGST) fields, located offshore Kerteh, Terengganu, Malaysia.
Thai upstream player PTTEP to spend $29bn over five years
Thailand’s state-backed upstream company PTT Exploration Production (PTTEP) announced it will spend $29 billion between 2023 and 2027 as it aims to boost oil and gas production, as well as diversify into new businesses to cut emissions.
Petronas strikes oil and gas off Sarawak
Malaysia’s Petronas Carigali has discovered oil and gas at the Nahara-1 well in Block SK306, located in the shallow waters of Balingian Province about 150 kilometres from Bintulu, off the coast of Sarawak, offshore Malaysia.
Petronas signs historic unconventional deal in Abu Dhabi
Petronas has signed a concession for the first unconventional oil concession in the Middle East, during a high-level visit.
Malaysia’s Petronas doubles profits as oil and gas markets remain volatile
Malaysia’s Petronas has reported a near doubling of its third quarter profit and warned of continuing volatility in oil and gas prices on Wednesday.
Petronas gives investment approval for giant CCS project in Malaysia
Petronas has taken a final investment decision (FID) for the development of its giant Kasawari carbon capture and storage (CCS) project offshore Sarawak in Malaysia. Significantly, it will be one of the first large scale CCS schemes in Southeast Asia and takes Malaysia closer to its goal of becoming a regional hub for carbon storage solutions.
Hibiscus financials bolstered by high oil prices
Malaysia-based Hibiscus Petroleum today reported that relatively strong oil and gas prices have contributed positively to the profitability levels in all the group’s producing assets in Malaysia and the UK.
Japan’s Mitsui on the hunt for carbon storage in Asia Pacific
Japanese trading house Mitsui is seeking carbon storage sites across Asia Pacific as it aims to sequester 15 million tonnes per year by 2035 for companies in Japan.
Explosion at Petronas’ Sabah-Sarawak Gas Pipeline in Malaysia
Malaysia’s Petronas has confirmed reports of a fire incident at the Sabah-Sarawak Gas Pipeline (SSGP), nearby Lawas, Sarawak, following an explosion on Wednesday.
Storegga joins forces with Petronas for CCS in Malaysia
Malaysian national oil company Petronas has signed a memorandum of understanding (MoU) with UK-based Storegga, a developer of carbon storage and clean fuels, to assess and determine the commercial, regulatory, and economic factors needed for the development of carbon capture and storage (CCS) hub and cluster projects in Malaysia.
Malaysian pair, Petronas and PETROS, sign gas and CCS deals
Petronas has signed two key agreements with Petroleum Sarawak (PETROS) on collaboration opportunities under the Sarawak Gas Roadmap that will help accelerate both parties’ shared aspirations to sustainably grow the Malaysian state’s energy industry.