Malaysia’s Petronas has signed a memorandum of cooperation (MoC) with the Ministry of Economy, Trade and Industry of Japan (METI), as well as a memorandum of understanding (MoU) with Japan Bank for International Cooperation (JBIC), to collaboratively pursue mutual sustainability goals of achieving carbon neutrality by 2050.
Malaysia and Indonesia were the first countries in Southeast Asia to announce that carbon capture and storage (CCS) would play a role in decarbonising their industrial sectors. BP (LON:BP) in Indonesia, and Petronas in Malaysia, announced landmark projects in the oil and gas industry. However, while Indonesia has started having the right conversations around CCS, neighbouring Malaysia, and possibly even Thailand, appear to be making more progress within the region.
Petronas today announced a gas discovery from its Cengkih-1 exploration well in Block SK 320 in the Central Luconia Province, about 220 kilometres off the coast of Bintulu, Sarawak, offshore Malaysia.
Ranhill Worley will provide front-end engineering and design (FEED) services for PTT Exploration & Production’s (PTTEP’s) Lang Lebah development offshore Malaysia in a deal worth MYR43 million (US$9.4 million).
Shell Egypt, Egyptian Natural Gas Holding (EGAS) and Petronas have awarded a power study to Bechtel.
Harbour Energy is expected to start gas production from its Andaman II Block offshore Indonesia in 2028, according to a senior Indonesian government official.
Malaysia’s national oil company Petronas is considering acquiring further upstream acreage offshore Indonesia’s Aceh province as it seeks to develop more gas projects in the Southeast Asian nation. Significantly, more incentives are expected to be offered to encourage exploration investment.
Shell and Petronas have taken the final investment decision (FID) to develop the Rosmari-Marjoram gas project in Sarawak, Malaysia.
Argentina is taking preliminary steps to tap its potential for exporting liquefied natural gas (LNG) with Malaysia’s Petronas, President Alberto Fernandez announced Thursday.
Malaysia’s Petronas reported on Tuesday that first-half net profits more than doubled on the back of higher oil and gas prices, but the state-backed energy company sees higher prices reversing next year as global supplies stabilise.
Petronas has officially transferred its stake in two Gambian blocks to Australian minnow FAR, which will now seek a new partner to support exploration.
Malaysian state oil company Petroliam Nasional has started inviting bids for its upstream assets in Africa, which could fetch as much as $3 billion, people with knowledge of the matter said.
APA Corp has discovered oil offshore Suriname on Block 53, while abandoning another well on Block 58.
Indonesian upstream regulator SKK Migas has confirmed that Repsol’s (BME:REP) Kali Berau Dalam (KBD) gas discovery, initially thought to be the country’s biggest find in 18 years, is significantly smaller than expected, putting the mega project in doubt.
Petronas today signed a memorandum of understanding (MoU) with six South Korean companies to undertake conceptual and feasibility studies towards establishing a full value chain related to carbon dioxide (CO2) capture, transport and storage.
Spain’s Repsol has started drilling the much-anticipated Rencong-1X wildcat in the frontier deepwaters of Indonesia’s North Sumatra basin in the Andaman III Block.
Malaysia’s Petronas is expected to contribute to government coffers as much as 59 billion ringgit ($13.25 billion) this year, a cabinet minister said in a statement to parliament published Friday. This would be higher than last year on the back of record-high oil prices and its best ever quarterly profit in at least a decade.
Italy’s Eni (BIT:ENI) is offering to sell its Krueng Mane Block offshore Aceh in Indonesia to London-listed Harbour Energy (LON:HBR), reported Indonesian upstream regulator SKK Migas. Significantly, the potential acquisition seems logical given that Harbour’s recent exploration success could trigger a new development area in the region.
A commercial diver has died while performing an adapter mating test on the hull of a floating production storage and offloading (FPSO) vessel offshore Malaysia, according to a HSE report from national oil company Petronas.
South Korea’s Samsung Engineering has won a $680 million engineering, procurement, construction and project management contract to build an onshore gas plant for Shell’s Rosmari Marjoram development in Sarawak, Malaysia.
UK-listed Harbour Energy (LON:HBR) has announced initial success at its play-opening deepwater Timpan-1 exploration well offshore Indonesia in the North Sumatra basin. Significantly, the initial result bodes well for the frontier area and could open up more petroleum plays, which are thought to be gas prone.
Two Luxembourg subsidiaries of Malaysian state oil company Petronas have been seized by the descendants of a late sultan, lawyers said, in a dramatic escalation of a $15 billion legal dispute connected to an agreement signed 144 years ago, reported the Financial Times.
Lewis Hamilton has defended “Just Stop Oil” protestors who stormed the F1 tracks at Silverstone over the weekend.
Malaysian national oil company Petronas has signed a memorandum of understanding with Japan’s Mitsui for the conceptual and feasibility studies on the carbon capture and storage (CCS) value chain, including the evaluation of carbon dioxide (CO2) storage sites in Malaysia. Significantly, Mitsui is a shareholder in UK-based carbon management business Storegga, that is developing the Acorn CCS project.
Malaysia’s national oil company Petroliam Nasional Bhd. plans to double its capital expenditure to 60 billion ringgit ($14 billion) this year from 2021, as business activities normalize following the lifting of Covid-era restrictions.