Sarawak O&G players set to gain under Petros

PETALING JAYA: Sarawak oil and gas players are set to benefit as the state transitions into the new administration of its oil resources under Petroleum Sarawak Bhd (Petros), with plans to increase local participation in the industry.

UOB Kay Hian Research singled out Serba Dinamik Holdings Bhd as among the major beneficiaries, aside from other Sarawak-listed companies like Dayang Enterprise Holdings Bhd , Petra Energy Bhd , KKB Engineering Bhd (via OceanMight) and Brooke Dockyard.

The research house recently attended the Sarawak oil & gas seminar and exhibition, said the issues covered during the conference included Petros’ plans, and matters relating to vendor development and reserves data.

By end-2019, it said, Petros would take firm action to implement the state’s mandate, particularly in relation to revenue sharing and local participation.

“We believe this is necessary to kick start delayed greenfield projects,” it said in a note.

The research house, which maintained its “market weight” stance on the sector, said Petros CEO Sauu Kakok clarified during the seminar that their key targets included driving more share of revenue from Sarawak O&G resources and boosting participation of Sarawakians.

Petros, it said, was actively working towards meeting the “hard target timeline” of Dec 31 for measures including setting up governance policies.

“This implies that the one-year grace period for Petronas, Putrajaya (and its key advisors), and Sarawak state will conclude.

“We understand further delays are unlikely as all stakeholders are working hard to reach firm agreements,” the research house said.

Petros, which was set up in August 2017, is in charge of regulating upstream production, governed under the oil mining ordinance 1958. It is also regulating the gas distribution governed under the distribution of gas ordinance.A technical session during the seminar revealed that the Sarawak basin has 23% of Malaysia’s oil and 51% of natural gas.

For the overall sector, UOB Kay Hian said many O&G stocks remained “too locally dependent”. It noted that Petroliam Nasional Bhd (Petronas) would focus on overseas upstream capex, while domestic upstream capex is set to improve from RM12bil in 2018 to RM15bil in 2019.

“We understand local activity levels have generally increased, especially for maintenance/brownfield works, with maintenance, construction and modification contractors like Dayang Enterprise and Petra Energy guiding high activity levels in 2019 although rates remain low,” it said.

The research house said it favoured internationally competitive companies, like engineering, procurement, construction and commissioning and storage operator Dialog Group Bhd and Yinson Holdings Bhd .


CM: Bold new moves a must

MIRI: Sarawak must take bold moves if it wants to achieve its development agenda, even if they are radically new in nature.

The state government’s decision to set up its own petroleum company – Petros – is among the bold moves that had to be taken, said Chief Minister Datuk Amar Abang Johari Openg.

Speaking at an oil and gas seminar in Miri organised by the Sarawak Bumiputra Chamber of Commerce, he said Petros was formed two years ago to manage the oil and gas resources of Sarawak.

“Sarawak has the right to administer our oil and gas resources.

“Petros was set up to utilise oil and gas resources to propel the social and economic growth of Sarawak.

“Petros is working closely with Petronas and Shell in this area.

“Petronas and Shell are the experienced players with the technology and knowledge in the oil and gas sectors.

“Even though the global demand for fossil fuel has declined due to the surge in green energy concept, fossil fuel still has its uses,” he said.

Johari said Sarawak still has plenty of oil and gas reserves.

There is thus a need to manage these natural resources well so that they are sustainable in the long run, he added.

Johari said the state government has set ambitious goals in the energy sector.

“We also want to develop green energy through hydro resources and from biomass.

“To achieve these ambitious goals, we are going big in the information technology sector, energy generation, transportation and services.

“These new initiatives require us to be bold in our investment strategies,” he said.

He urged locals to be equipped with the required technology in the energy sectors to benefit from the global demands.

Some 20 oil and gas companies took part in the two-day event held in a hotel in Miri.


Serba Dinamik secures RM330mil Petronas job

KUCHING: Serba Dinamik Holdings Bhd has been awarded a contract to provide maintenance, construction and modification services to Petroliam Nasional Bhd’s (Petronas) onshore facilities in Bintulu and Miri, Sarawak.

The contract involves Package D (Bintulu-Sarawak Gas) and Package E (Miri-Sarawak Oil) onshore facilities in Miri Crude Oil Terminal and Asam Paya onshore facility as well as Bintulu integrated facilities.


Sarawak’s Brooke Dockyard wants more Petronas jobs

KUCHING: The Sarawak state government wants Petroliam Nasional Bhd (Petronas) to award more offshore fabrication contracts to Brooke Dockyard and Engineering Works Corp as it has tripled its fabrication capacity.

The 107-year-old state-owned corporation has raised its fabrication capacity by 16,500 tonnes to 25,000 tonnes per year with the new Demak Yard in the Demak Industrial Estate near here.


Petros is nothing like scandal-plagued 1MDB, says Abang Jo

KUCHING: Chief Minister Datuk Patinggi Abang Johari Tun Openg has refuted allegations by a website that the state-owned Petroleum Sarawak Bhd (Petros) is like the scandal-plagued 1Malaysia Development Bhd (1MDB).

“There’s been a malicious article written on Petros. We have a transparent organisation.


Sarawak CM dismisses claim Petros will be another 1MDB

SARAWAK Chief Minister Abang Johari Openg has dismissed allegations published online that state oil company, Petroleum Sarawak Bhd (Petros), was created as a vehicle to siphon Sarawak oil money away.

“No such thing. That (claim by the) website – – is malicious with malicious intentions,” he said when opening Brooke Dockyard and Engineering Works Corporation’s second fabrication yard in Demak and the loadout of Petronas Carigali’s Bokor D substructure in Bako, 40km from Kuching.


Petroleum Sarawak is not 1MDB, says Chief Minister

KUCHING: The state-owned Petroleum Sarawak Bhd (Petros) is nothing like 1Malaysia Development Bhd (1MDB) as alleged by a website, says Chief Minister Datuk Patinggi Abang Johari Tun Openg.

“There’s been a malicious (article) written on Petros. We have a transparent organisation. That website and has malicious intentions,” he said when opening the Brooke Dockyard and Engineering Works Corporation’s new Demak Yard here on Monday (March 4).


Sarawak leaders divided over state’s actions to defend its rights

IN March last year, the Sarawak government established the state’s own oil and gas exploration company, Petroleum Sarawak Bhd (Petros), modelled after national oil company Petronas.

While many Sarawakians were trying to figure out what role the company would play alongside Petronas, which has absolute monopoly over the state’s carbon resources, alarm bells were reported to be ringing in the Twin Towers and Putrajaya on the Sarawak government’s intent.


Pertikaian PETRONAS, kerajaan Sarawak berterusan

KUALA LUMPUR: Kes mahkamah antara PETRONAS dan kerajaan Sarawak, yang tidak dapat diteruskan atas faktor teknikal, menimbulkan persoalan mengenai operasi minyak dan gas di negeri itu mulai bulan depan.

Hari ini, Mahkamah Persekutuan menolak permohonan PETRONAS untuk memulakan prosiding bagi mendapatkan perisytiharan berhubung kuasa mengawal selia aktiviti huluan sumber minyak di Sarawak di bawah Ordinan Perlombongan Minyak 1958 (OMO) bermula 1 Julai.

PETRONAS dalam satu kenyataan berkata, permohonannya ditolak semata-mata atas alasan teknikal dan adalah diputuskan bahawa perkara itu berada di luar bidang kuasa Mahkamah Persekutuan.

“Mahkamah Persekutuan tidak menentukan atau mengesahkan merit kedudukan undang-undang yang diambil oleh kerajaan Sarawak untuk mengawal selia aktiviti huluan petroleum di bawah Ordinan Perlombongan Minyak 1958,” menurut PETRONAS.

Oleh itu, syarikat minyak nasional berkenaan berhasrat meneruskan tindakan undang-undang bagi mencari kepastian haknya di bawah Akta Pembangunan Petroleum 1974 (PDA 1974).

Bagaimanapun, Sarawak bertegas untuk menguatkuasakan hak pengawalseliaannya di bawah OMO.

Ini menyebabkan PETRONAS perlu memiliki lesen atau pajakan yang diperlukan di bawah ordinan berkenaan bermula 1 Julai ini, yang mana jika gagal, aktiviti huluan yang dijalankan oleh PETRONAS adalah haram dan tindakan yang sewajarnya akan diambil.

PETRONAS percaya bahawa konsesi kerajaan negeri dibawah PDA 1974 digubal secara sah, sekali gus menguatkan pandangan syarikat berkenaan bahawa hanya Parlimen boleh membuat undang-undang mengenai perkara yang berkaitan dengan industri petroleum huluan termasuk kuasa pengawalseliaan di seluruh Malaysia, baik di darat dan di luar pesisir berdasarkan PDA 1974.

“Keputusan Mahkamah Persekutuan tidak akan menjejaskan keupayaan PETRONAS untuk meneruskan tindakan undang-undang, dengan niat mencari kepatian hak dan kedudukannya di bawah PDA 1974,” katanya.

Hakim Besar Malaya, Tan Sri Ahmad Maarop, berkata pengisytiharan pelepasan yang dimohon oleh PETRONAS tertakluk di bawah bidang kuasa Mahkamah Tinggi.

Beliau menolak permohonan PETRONAS untuk memulakan prosiding undang-undang terhadap kerajaan Sarawak dan mengarahkan syarikat minyak nasional itu membayar RM50,000 kepada kerajaan negeri itu.

Dari perspektif undang-undang berhubung perebutan hak antara syarikat minyak nasional dan kerajaan negeri itu, NSTP difahamkan kedua-dua pihak mempunyai hak terhadap pemilikan kawal selia.

Seorang peguam menyatakan bahawa mahkamah kini berada di antara amalan konvensional Persekutuan ke atas negeri berkaitan Petroleum, dan mengembalikan hak kerajaan Sarawak terhadap mineral itu.

Jurucakap di pejabat Ketua Menteri Sarawak berkata, negeri itu menuntut hak pengawal seliaan dalam meneroka, prospek dan aktiviti perlombongan di negeri berkenaan.

“OMO tidak pernah dimansuhkan dan masih sah, ia tidak pernah dikawal selia di bawah ordinan itu, maka ia masih diguna pakai di darat dan luar pesisir Sarawak.

‘Dengan permohonan PETRONAS dibatalkan, kami kini boleh menguatkuasakan hak kawal selia termasuk memperoleh lesen atau pajakan di bawah ordinan itu,” katanya.

Permohonan lesen perlu mengikut seperti yang ditetapkan OMO dan dihantar kepada pihak berkuasa pengurusan dan mineral negeri melalui Petroleum Sarawak Bhd (Petros).

Di bawah Kontrak Perkongsian Pengeluaran (PSC), PETRONAS membayar lima peratus dari hasil pengeluaran kasar sebagai bayaran tunai kepada kerajaan Persekutuan dan Negeri.

PETRONAS, dalam satu kenyataan kepada Bernama, berkata jika pembayaran tunai kepada negeri pengeluar dinaikkan kepada 20 peratus daripada lima peratus, ia akan menjejaskan industri.

“Kenaikan bayaran tunai juga akan mengurangkan minat pemain industri menjadikan Malaysia sebagai destinasi pelaburan minyak dan gas,” katanya.

Sementara itu, pemerhati industri, berkata keputusan yang wajar akan diputuskan kepada kedua-dua pihak sekiranya mereka berjaya menyelesaikan perkara itu di luar mahkamah.

“Untuk pelabur (domestik dan asing), PETRONAS dan Petros perlu dilihat bersama dalam mewujudkan kadar yang konsisten bagi menghasilkan kestabilan dan konsistensi.

“Terdapat juga persoalan sama ada Sarawak, menerusi Petris mempunyai kemahiran atau sumber untuk menguruskan dan mengambil alih serta mengawal selia aktiviti perlombongan dan minyak,” katanya.

Pemerhati berkata, adalah wajar sekiranya negara memiliki satu badan pengawal selia daripada mempunyai badan berasingan yang mengawal aktiviti kegiatan perlombongan.

Setakat ini, PETRONAS melabur lebih RM183 bilion dalam sektor huluan Sarawak menerusi PSC dengan bayaran tunai berjumlah RM33 bilion yang dijalankan sejak 1976 kepada kerajaan Sarawak.

Bilangan syarikat yang berdaftar dengan PETRONAS sebagai vendor di Sarawak juga meningkat sebanyak 54 peratus sementara kini terdapat kira-kira 5,000 profesional penduduk Sarawak yang bekerja di PETRONAS seluruh dunia.


Minyak dan gas bertahan maksimum 17 tahun

PETRA JAYA: Pengeluaran minyak dan gas Sarawak dianggarkan mampu bertahan antara 15 hingga 17 tahun akan datang berdasarkan kadar pengeluaran 5,000 juta kaki padu gas standard sehari (MMSCFD).

Menteri Muda Hubungan Korporat, Abdullah Saidol, berkata anggaran tempoh pengeluaran minyak dan gas itu dilakukan berdasarkan piawaian nisbah rizab kepada pengeluaran.

“Justeru, adalah penting bagi kerajaan negeri kembali mengawal sumber terbabit melalui PETROS, termasuk menguatkuasakan pengawasan dan melindungi kepentingan minyak dan gasnya.

“Sehingga kini, pendapatan yang dijangka diperoleh Sarawak bagi sumber minyak dan gas adalah dalam lingkungan RM3 hingga RM4 bilion setahun.

“Kerajaan negeri konsisten mengekalkan permintaan menaikkan royalti minyak sebanyak 20 peratus,” katanya ketika menjawab soalan Aidel Lariwoo (GPS- Sadong Jaya), di Persidangan Dewan Undangan Negeri (DUN) Sarawak, di Kompleks DUN Sarawak, di sini hari ini.

Abdullah ketika mengulas lanjut, berkata Sarawak mempunyai 52.7 peratus rizab negara yang diketahui, selain berperanan menjadi pengeluar gas asli terbesar negara.

“Sarawak juga menjadi penyumbang terbesar melalui aliran pendapatan di loji Bintulu. Kerajaan negeri memberi mandat kepada PETROS untuk memainkansebagai pengawal selia utama dan menjadi pemain aktif dalam Kontrak Pengeluaran Bersama (PSC) gas di negeri ini,” katanya.

Beliau berkata, PETROS akan memperkukuhkan pengawasan sumber gas menerusi Strategi Jaringan Bersepadu bertujuan mengimbangi bekalan huluan dengan penggunaan hiliran.

“Ketika ini, tumpuan PETROS adalah mensasarkan penyertaan PSC untuk menjana pendapatan di Sarawak. Tindakan itu penting kerana PSC sekarang ini dikawal sepenuhnya oleh PETRONAS,” katanya.


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