Vestigo Petroleum wins Tembikai contract

The president of Malaysia's Petronas Carigali, Anuar Taib, has confirmed the state player's marginal field-focused subsidiary, Vestigo Petroleum, has been awarded the Tembikai risk service contract.

Vestigo is working towards a final investment decision for the development of Tembikai off Terengganu, with the field now projected to come on stream around mid-2015, Anuar told reporters on the sidelines of the inaugural OTC Asia in Kuala Lumpur.

Malaysia signs off EOR projects

Malaysia's state-owned Petronas is set to sanction two water-alternate-gas enhanced oil recovery projects this year, while it set out to bring the first large-scale in-country WAG project at its flagship Tapis oilfield onstream in the second quarter.

Petronas' vice president of petroleum management, Adif Zulkifli told reporters on the sideline of the inaugural OTC Asia conference in Kuala Lumpur, the state player expects to sanction two WAG projects in the Baram Delta.

IIOGTC jadikan Terengganu pengeluar tenaga mahir industri petroleum dunia

Terengganu bakal menjadi pusat pengeluar tenaga kerja mahir dan profesional bagi keperluan industri petroleum di seluruh dunia dengan kewujudan Pusat Latihan Minyak dan Gas Bersepadu Instep (IIOGTC).

Menteri Besar, Datuk Seri Ahmad Said yang mengalu-alukan langkah Petronas itu berkata, IIOGTC yang terletak di Institut Teknologi Petroleum Petronas (Instep) di Batu Rakit selari dengan hasrat kerajaan menjadikan negeri ini sebagai syurga pelabur.

MATRADE Drives Collaborations in OTC Asia

Malaysia External Trade Development Corporation (MATRADE) drives Malaysian oil & gas companies in forming joint ventures or collaborations with foreign companies during their participation in trade fairs or trade missions. In conjunction with Offshore Technology Conference (OTC) Asia 2014, MATRADE further improved their business platforms by supporting 25 Malaysian oil & gas exhibitors as well as organising the Individual Business Meetings (IBM) on the 25 and 26 March 2014.

MATRADE through its international network has invited 25 oil & gas foreign companies to come and meet with the Malaysian oil & gas companies in Kuala Lumpur.

Did the Offshore Driller Solve the Malaysian Airline Mystery? (Part 2)

We wrote about new information in the missing Malaysian airliner case. Michael McKay, a worker on a midwater semisubmersible drilling rig offshore Vietnam, reported seeing what may have been the missing airliner burning at a high altitude.

The case remains unsolved despite intensifying global search efforts. But we have learned several new details in the offshore driller narrative that warrant a mention.

Petronas Technology Ventures signs licensing pact with Clariant

Petronas Technology Ventures Sdn Bhd (PTVSB), a technology commercialisation arm of Petroliam Nasional Bhd (Petronas), has signed a licensing term sheet agreement with Clariant, a world leader in specialty chemicals.

The agreement will see Swiss-based Clariant marketing Petronas’ HycaPure Hg, a solid-supported ionic liquid mercury removal technology, to the global market.

Big Players Likely To Shift To Development Of Marginal Oil Fields

The development of marginal oil fields is expected to gain attention from industry players soon as the number of bigger fields available begin to decline.

An oil and gas (O&G) expert said the prospects were there and Petronas has set up a special unit to focus on marginal fields.

Customised manufacture for Petronas offshore platform

The value-adding capability of Australian manufacturer ReCoila has been a key element of its successful expansion into the growing Asian energy market, in this case to Malaysian powerhouse, Petronas.

Specifically, ReCoila’s ability to refine engineering and build to high specifications landed it a contract to design and manufacture a twin-reeling station to manage hoses for diesel refuelling responsibilities and potable water distribution on offshore platforms in the Malacca Straits.

Petronas Sees EOR Projects As Substantial Contributors To Domestic Production

Petroliam Nasional Bhd (Petronas), expects enhanced oil recovery (EOR) projects to become substantial contributors to domestic oil production in the next 10-15 years.

Executive Vice President, Exploration and Production Business Datuk Wee Yiaw Hin said EOR projects had the potential to produce up to 90,000 barrels daily from maturing oilfields.

Ranhill propose MBO of Symphony's existing business

Symphony House Bhd has entered into a heads of agreement with Ranhill Energy and Resources Bhd to facilitate the listing of the latter in a reverse takeover exercise (RTO).

According to the announcement yesterday, which confirmed a report by StarBiz on the transaction, Symphony would acquire all the equity interest in Ranhill Group Sdn Bhd including its subsidiaries from Ranhill in return for new Symphony shares.