Petronas Carigali’s gas price hike to raise domestic selling prices

Dateline 2012-03-17:

Petronas Carigali Sdn Bhd’s (Petronas Carigali) agreement to buy natural gas from Natuna at a revised price of US$6 per million British thermal units (mmBtu) will expedite the process of raising domestic gas selling prices, which are heavily subsidised at present.

Theoretically, the adjusted Natuna price was 31 per cent higher than the price currently paid by the power segment (US$4.57 per mmBtu) but two per cent lower than industrial segment’s of US$6.12 per mmBtu, said Maybank Investment Bank Bhd (Maybank IB) in its report yesterday.

“While a hike in gas prices is inevitable, policymakers have yet to come out with a concise gas price blueprint,” it highlighted.

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PETRONAS finds “significant” oil off Malaysia’s Sabah

Dateline 2011-11-15:

• Reserves of 227 mln boe, oil output rate of 8,200 bpd
• Estimated reserves have upside potential – PETRONAS
• Sabah has 12 pct Malaysia’s gas reserves, 25 pct of oil-analyst

Malaysia’s Petronas discovered oil offshore Sabah in the latest “significant” find this year in the hydrocarbon-rich state on Borneo island, as the national oil company sets to boost reserves and output amid easing production costs.

Initial estimates put the well’s reserves at 227 million barrels of oil equivalent (boe) and tests in three different reservoirs yielded a maximum output rate of 8,200 barrels per day (bpd), Petroliam Nasional Bhd (Petronas) said on Tuesday.

Petronas’ exploration and production arm, Petronas Carigali Sdn Bhd, is the sole equity holder of the production-sharing contract (PSC) for the block. Wakid-1 is the second well drilled in the block. The first, Tambuku-1, yielded only minor gas discovery, Petronas said in a statement.

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From Bernama – BC Petroleum To Invest RM2.55 Billion In Small Field Risk Service Project

I’m sorry, 53 jobs?

Dateline 2011-11-10:

BC Petroleum Sdn Bhd will invest up to RM2.55 billion in the small field risk service project of the Balai Cluster Field, offshore Sarawak.

The project, which will be carried out in two phases, is awarded by Petronas.

BC Petroleum is a joint-venture company between Roc Oil Malaysia (Holdings) Sdn Bhd, Dialog D&P Sdn Bhd and Petronas Carigali Sdn Bhd.

The project is projected to contribute RM4.95 billion to the country’s gross national income (GNI) and create 53 jobs by 2020.

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PETRONAS – Involved in War Crimes?

There’s a title you never expected to see. It’s interesting that Lundin is implicated as well, as it is also a Malaysian PSC. Kinda reminds one of the time ExxonMobil was accused of supporting violence against the local Sumatran populace.

Taken from the AFP, dateline 2010-06-08:

Report blames Swedish oil firm for Sudan war crimes

STOCKHOLM — A consortium led by Swedish Lundin Petroleum is partly to blame for war crimes committed in Sudan between 1997 and 2003, a report by the European Coalition on Oil in Sudan (ECOS) charged Tuesday.

ECOS, an umbrella group of European organisations “working for peace and justice in Sudan”, said it believed Lundin and its consortium partners Petronas Carigali Overseas from Malaysia and OMV Exploration from Austria “may have been complicit in the commission of war crimes and crimes against humanity” in Sudan.

Lundin Petroleum, previously called Lundin Oil, denied the allegations.

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PCSB-PMO Open House 2009

Dropping by at the Kompleks Operasi Petronas (KOP) on Sunday, 11th Oct, 2009 (yes, I do work on Sundays), I noticed that PCSB has quite the community spirit.

Carigali’s Original Offices

How many of you recognise these premises as being the building that first housed PCSB?

Wisma Peladang

Wisma Peladang

Wisma Peladang

TCOT – Officially handed over to PCSB

Okay, sue me for repeating a previous article.

To quote an extract from a notice I saw:

Today, July 1, 2008, the operatorship of the Terengganu Crude Oil Terminal, Onshore Slugcatcher and condensate facilities was officially handed over to PETRONAS Carigali. The transfer of operatorship of these onshore facilities to PETRONAS Carigali is part of the terms of the Main Principles Agreement of the 2008 PSC that was signed by ExxonMobil, PETRONAS and PETRONAS Carigali last March 26.

Go visit Kerteh and visit the sites.

Enhanced Oil Recovery – the Malaysian Experience

I’ve found the Schlumberger Oilfield Glossary to be a useful source of info, helping me figure out where Enhanced Oil Recovery is used in Malaysia.

• Water Alternating Gas (WAG) is a EOR method which has been looked at. I believe PRSS was looking at it when they still existed.
• Chemical EOR is being tested as a pilot project at PCSB’s Angsi asset. Akaline surfactant is injected into the reservoir to reduce water flood residual oil saturation.  
• I believe EMEPMI is looking at WAG, though I don’t know whether it’s a table top exercise, or they have moved to field trials.

At USD 129 / barrel, EOR is definitely more profitable.

If you know more, please write in, esp. as to what is happening in East Malaysia.

Job Opportunities in Kerteh with TCOT/PCSB

I notice that many of my readers are searching for opportunities in Kerteh, especially in the oil and gas sector. One such opportunity is with the Terengganu Crude Oil Terminal (TCOT), as the operatorship is being taken over by PETRONAS Carigali Sdn Bhd (anyone remember when they were all housed in Wisma Peladang? Anyone remember Wisma Peladang?). My original post is here.

Anyhoo, If you think you have the appropriate experience and would like to work with Malaysia’s national oil company, you may contact the PCSB PMO (I think) HR Department. Please call the HR Department at 09 866 77 22 and request for Awang Zul or Lala. I suspect PCSB is looking for technicians and engineers.

Please refer back to my blog. Maybe I’ll get a few Imperial credits out of it.

IEM presentation write-up

On Thursday, 24th April 2008, there was a small delegation from my company who went and attended the afternoon tea talk arranged by the Oil, Gas and Mining Technical Division of the IEM, of which I am the SecTreas. The talk was entitled ‘Talk on Upsteam Activities in Oil and Gas Industry.’ The speaker was En. Meor Shahrin Mahmood, currently Manager of Domestic, South-East Asia and Australasia regions, Basin Analysis & New Ventures Department, Exploration Division, PETRONAS Carigali Sdn. Bhd (PCSB), what a mouthful.

My colleague, Hui Hin, wrote up a summary of the talk. Visit her site to read the presentation notes.