Vice president of exploration Mohd Redhani Abdul Rahman said the success would “drive further exploration for commercially viable hydrocarbon resources in the surrounding areas”.
Abu reached a peak of 15,000 barrels per day in 2008. The agreement should give Ping the ability to monetise the Abu Kecil and Abu SW Upthrown fields.
Savannah struck a deal to acquire Petronas’ South Sudan assets in December 2022. It had hoped to publish its AIM admission documents on the deal by September 30. Today, it has pushed that back to the fourth quarter of the year.
TotalEnergies has agreed the sale of a 40% stake in Block 20, in Angola's Kwanza Basin, to Petronas.
The statement from the South Sudanese presidency valued the agreement at $3bn. According to Kiir, Caltech will partner with the government to buy Petronas’ entire portfolio in the country for $1.25bn.
“Petronas believes the right thing to do is to double-down on building resilience in order to deliver long-term sustainable value as a national oil company, and grow as a global energy player.”
There has been some impact from the war, though, with the supply chain of trucks bringing equipment back to the oil wells having slowed.
"The decision to sell our participation in the Masela PSC is in line with our focus on disciplined capital allocation,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.
The company attributed its successes to a intensive exploration drilling campaign that began in 2022.
The executive said he had been involved in driving changes at Nilepet since his arrival at the start of the year. This included increasing salaries for workers, changing the governance structure and passing the company's first budget.
Shell has a 25% stake in the Burullus Gas joint venture, which is the operator of WDDM. This supplies gas to the domestic market and to Egyptian LNG, at Idku.
The deal is the most significant since Velesto struck a deal with Hess in November 2022.
The company launched a well workover campaign on the area in June 2022, adding three horizontal wells to its portfolio.
Drilling simulation technology firm Drilling Systems has secured a contract with Malaysian national oil company Petronas to support the group’s training and development programme.
At the time, Petronas president and Group CEO Datuk Tengku Muhammad Taufik said the company shared Sabah’s “aspirations for mutual prosperity even as we both pursue sustainable development”.
Petronas will also be upgrading its rig capabilities as well as providing third party drilling services for other companies over the next three years, the firm said in its recent outlook.
“In my speech, I am suggesting that greater transparency of contracts post IPO, can be demanded by minority shareholders and this will then spur improvements to overall corporate governance,” he said.
Malaysia’s 2022 oil and gas bid round was a remarkable success, attracting fresh investment, new upstream explorers, as well as new ideas to the mix in Southeast Asia’s most successful market. Indeed, other Southeast Asian countries should take note as Malaysia also launched its 2023 round that will see more investors queuing up.
Malaysia’s law minister on Friday said the government hasn’t received a formal notice of an attempt to seize the Southeast Asian country’s assets in Luxembourg by descendants of the sultanate of Sulu.
Longboat Energy has announced its entry into Malaysia, while in Norway it will seek to mature a string of successful finds near the Troll field.
Petronas today launched the Malaysia Bid Round 2023 (MBR 2023), offering 10 exploration blocks and two clusters of Discovered Resource Opportunities (DRO). The company also signed deals from last year’s round representing the highest number of PSCs awarded in Malaysia within a single year since 2010.
Engen has 1,300 service stations in seven sub-Saharan states and islands of the Indian Ocean. Combining Engen with Vivo gives the group more than 3,900 service stations and more than 2 billion litres of storage capacity. It will have presence in 27 African countries.
Petronas is the latest big oil company to move into Australian renewables, with the Malaysia state-backed energy company reportedly poised to acquire the local assets of German solar and storage developer Wirsol.
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Brunei LNG will start supplying liquefied natural gas (LNG) to Japan Petroleum Exploration Co. (JAPEX) from April as the company seeks to stabilise finances by boosting shipments to its largest export destination, reported Nikkei Asia.