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Petronas to scale down exploration

Caroline PELAEZ-HUE - 19-mai-2015 10:10:39
PETRONAS is scaling down its exploration activities by June in view of the soft crude oil prices, while maintaining its current production level. Petronas will be scaling down its exploration activities. Many companies who are involved in drilling have been notified that it (Petronas) will stop drilling activities come June this year. Petronas will not retract current jobs that are contracted with the national oil firm, but it will not start any new drilling jobs for the time being. In February, The Edge Financial Daily reported that Petronas was likely to postpone the second phase of the Balai Cluster marginal field risk service contract until crude oil prices recover to above US$80 (RM287.20) per barrel.  As at last Friday, Brent crude was trading at US$65 per barrel while Tapis was at US$71 per barrel. If the exploration halt drags on for long, it will be a major concern for drilling companies with assets nearing contract expiration, as well as those who have new assets under construction that are almost completed but yet to be contracted. Drllers like drillers like UMW Oil & Gas Corp Bhd (UMW-OG) , Perisai Petroleum Teknologi Bhd  or other oilfield service providers such as Scomi Energy Services Bhd , Deleum Bhd and Uzma Bhd may see a spillover effect from a scale-down in exploration activities.

GDF SUEZ acquired a new exploration license in Malaysia

MAZLAN Rafizah - 13-déc.-2013 03:56:10
GDF SUEZ has jointly entered the offshore deep water exploration Block 3F in Malaysia in partnership with PETRONAS Carigali (40%), operator of the block, and JX Nippon Oil & Gas Exploration (Offshore Malaysia) (40%). GDF SUEZ holds 20% participating interest in the license. The license has been awarded by Malaysian Authorities to the consortium. This new award reinforces the GDF SUEZ’s position in exploration-production and further consolidates its position in South-East Asia following the acquisition of a 20% working interest in Block 2F in Malaysia, in September 2013. The license covers an area of approximately 4,200 km² in water depths ranging from 100 to 1,200 m, offshore Sarawak province, next to the block 2F. The deep water exploration campaign will last three years and will include the drilling of an exploration well. In case of gas discovery, gas will be marketed either through existing Bintulu LNG plant or through a FLNG. This is the sixth license acquired by the Group since the acquisitions of several licences in Asia-Pacific region from 2009: three offshore gas fields in Australia (2009) linked to the Bonaparte LNG project, two offshore exploration licences (2009, 2011), currently under development in Indonesia and the Block 2F (2013) in Malaysia. Source: GDF Suez Press Release

Visit 9 new French companies at OGA 2011

Magali Voisin-Ratelle - 31-mai-2011 12:33:41
UBIFRANCE French Trade Commission in Malaysia, the French agency for International Business Development, has the pleasure of hosting 9 new French companies at the OGA in a strategic location at Booth 2600, Hall 2, Ground floor of KLCC. UBIFRANCE French Trade Commission promotes technologies, products, services and know-how from France and puts French based professionals in contact with Malaysian counterparts. The 9 French companies participating at our booth are: • BARDOT GROUP specialized in engineering, construction and development of projects and subprojects for marine energy - www.bardotgroup.com • CUBISYSTEM manufacturing a floating modular system with applications in various fields (Maritime, Industrial, Military and Oil & Gas) and more - www.cubisystem.com • HGH Infrared Systems specialized in the development of optronic and infrared systems for security, industrial and civil applications - www.hgh.fr • MAREAL (an independent engineering office for the offshore industry)  designing offshore platforms: conducting feasibility studies, FEED, detailed engineering - www.mareal.eu • MOBILIS SAS providing Aid to Navigation Equipment on Sea and River - www.mobilis-sa.com • NEWREST, caterer operating on all segments of the catering markets and related services such as management, offshore catering, airline catering, facility management for oil and gas companies - on & off shore - www.newrest.eu • OIL SERVICES LIMITED providing drilling, subsea and surface products for Oil Industry - www.osl-group.com •  S2M (part of the SKF group) specializing  in the development, manufacturing, production and service of Magnetic Bearings - www.s2m.fr • VULCANIC which engineers, manufactures and sells for more than 35 Years Electrical Heating and Cooling Solutions for the Industry, especially for Oil and Gas and Petrochemicals applications. UBIFRANCE - French Trade Commission’s booth also serves as a Business Information Office providing business matching services for potential Malaysian companies who may wish to meet with the French exhibitors. For more information, please contact Ms. Girija Menon, Trade Advisor, Oil & Gas Sector at + 60 (0)17 2718129 or on normal working days at +60 (0)3 2053 56 32 – girija.menon@ubifrance.fr  
About
Welcome to the French Trade Commission – Business France office in Malaysia! “Business France is the national agency supporting the international development of the French economy, responsible for fostering export growth by French businesses, as well as promoting and facilitating international investment in France. It promotes France’s companies, business image and nationwide attractiveness as an investment location, and also runs the VIE international internship program. Founded on January 1, 2015 through a merger between UBIFRANCE and the Invest in France Agency, Business France has 1,500 personnel, both in France and in 70 countries throughout the world, who work with a network of public- and private-sector partners.” As a member of the French diplomatic network in Malaysia, Business France’s three missions are: - Fostering export growth by French businesses. - Promoting and facilitating international investment in France.

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