Petronas nafi rancang kecilkan projek RAPID

Petronas tidak akan mengecilkan kompleks Pembangunan Bersepadu Penapisan dan Petrokimia (RAPID) bernilai RM61 bilion di Pengerang, Johor, walaupun timbul masalah laluan tanah dan cadangan pemindahan perkuburan di kawasan itu, kata Presiden merangkap Ketua Pegawai Eksekutif kumpulan, Tan Sri Shamsul Azhar Abbas.

Petronas 2013 net profit one of the 'best ever'

Petronas had one of its “best years ever” in 2013 when it posted an 8.4% spike in net profit to RM54.11bil from RM49.92bil a year ago, citing better oil and gas production from South Sudan, Iraq, Malaysia and Canada.

But its dividends to the Government came down by RM1bil to RM27bil, even though its contribution to the national heritage fund stood firm at RM2bil for a second year running.

Petronas: Kimanis power plant ready to be commissioned

The 300MW Kimanis Power Plant in Kota Kinabalu has been completed and is ready to be commissioned, says Kimanis Power Sdn Bhd (KPSB).

It said on Monday  the power plant started its pre-commissioning activities in August 2013 and began commissioning activities for Block No. 1 in November 2013.

PETRONAS, Johor bakal muktamad kontrak RAPID

Kerajaan negeri Johor bakal memuktamadkan rundingan dengan PETRONAS mengenai pengagihan kontrak Pembangunan Integrasi Penapisan dan Petrokimia (RAPID) di Pengerang, Johor, dalam masa terdekat.

Menteri Besarnya, Datuk Seri Mohamed Khaled Nordin, berkata jumlah peratusan mengenai pengagihan tersebut belum lagi diputuskan tetapi secara prinsipnya syarikat petroleum negara itu telah bersetuju akan pentingnya peluang diberikan kepada kontraktor dan usahawan Bumiputera dan tempatan.

Singapore Plans to Construct Second LNG Terminal

Singapore planned to construct the country's second liquefied natural gas (LNG) terminal in the eastern part of the island-state to enhance energy security and grow the local LNG industry, Prime Minister Lee Hsien Loong said at the official opening of the Singapore LNG Terminal on Jurong Island.

The second facility will "enhance our energy security by geographically diversifying our LNG import infrastructure," Lee was quoted Wednesday as saying by the Business Times.

Malaysian exploration and production company Hibiscus adds North Sea license

Malaysian oil and gas exploration and production company Hibiscus Petroleum has announced that its jointly-controlled entity, Lime Petroleum Norway, has executed an additional agreement with North Energy to acquire a 20% stake in PL509CS, located in the North Sea.

The stake will cost Hibiscus a symbolic amount of just NOK1 or RM0.55, and is currently pending regulatory approval. Hibiscus Petroleum's portfolio of licences in Norway will be fourteen after the deal is finalised.

Saipem wins offshore contract in Indonesia

Italian oil and gas industry contractor, Saipem, has inked an offshore contract in Indonesia for a total of $1.1bn.

Eni in Indonesia has awarded a consortium led by Saipem the engineering procurement construction and installation (EPCI) contract for a new build floating production unit (FPU) for the Jangkrik Complex Project development.

KrisEnergy bags another Indonesian contract

KrisEnergy has been awarded the operatorship and a 95% working interest in the Sakti Production Sharing Contract (PSC) offshore East Java in Indonesia, where the company is developing gas aggregation opportunities. The other participant is Golden Heaven Jaya with a 5% working interest.

The Sakti exploration block covers 4,974 sq km in the East Java Sea over the western margin of the East Java Basin, Bawean Arch and the Muriah Trough.

Water depths in the area are between 50 m and 60 m. The block is proximal to the KrisEnergy operated Bulu PSC and East Muriah PSC, where the company is currently planning the development of the Lengo and East Lengo gas discoveries, respectively. The PSC has an initial three-year term and an associated work commitment of 1,200 km 2D seismic acquisition and processing, and one exploration well.

KrisEnergy is the operator of six other contract areas in Indonesia – East Seruway offshore North Sumatra, Kutai and Tanjung Aru offshore East Kalimantan, Bulu and East Muriah offshore East Java and Udan Emas onshore West Papua.

Richard Lorentz, Director Business Development, said: “We believe there are still significant opportunities to discover new oil and gas resources in Indonesia and therefore we continue to grow our asset base there.

Petronas pulling out of Vietnam

The number of international energy firms pulling out of Vietnam continues to rise. Malaysia’s Petronas is the latest energy giant rumoured to be preparing to sell its stakes in five offshore oilfields for around $300m.

Bank of America Merrill Lynch has been appointed to find buyers for the stakes.

Earlier this week Chevron announced it was pulling out of a joint venture with PetroVietnam, while other energy firms have reported disappointing exploration results in recent months.

[VIDEO] SapuraKencana CEO wins "Oil & Gas Year Malaysia 2014 Man of the Year" award

The Oil & Gas Year Malaysia 2014, a detailed guide to rising hydrocarbons powerhouse, WAS Launched in Kuala Lumpur, Malaysia on February 25, 2014 at the Canada Place events space. Malaysia is the second-largest producer of oil and natural gas in Southeast Asia, and the second large largest export of LNG in the world, Effective Qatar.

At the event, co-sponsored by Talisman Energy and PricewaterhouseCoopers, president and group CEO of SapuraKencana Petroleum, Tan Sri Dato' Seri Shahril bin Shamsuddin, Washington named The Oil & Gas Year Malaysia 2014 Man of the Year.