Post on 19-Jan-2015
description
Deepwater Oil and Gas Malaysia
Bergen
24 April 2007
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Contents
1. PETRONAS – What it is
2. Activities & Opportunities in Deepwater Oil & Gas Malaysia
3. Planned events during 2007
4. Business Culture
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PETRONAS – National Oil Company
• 100% government owned
• Holds exclusive ownership and control over
all petroleum resources in Malaysia
• Regulates E & P activities through Production
Sharing Contract. To date 62 PSCs awarded.
• All companies providing services/ products
in upstream sector need to be licenced by PETRONAS
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PETRONAS – International oil company
• A fully integrated & International oil company with more than 63
international ventures in 33 countries
• Involves in upstream sector in 24 countries with recoverable
reserves of 5.94 BBOE
• Ranked as one of Fortune 500 largest corporations & recorded a
profit of USD11.566 billion as at 31/03/06 on turnover of
USD44.282 billion
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Deepwater areas
Major Deepwater Opportunities in SEA
Indonesia: Major natural gas discoveries in the deepwater Kutei Basin, deepwater exploration in the Tarakan and Papalang Basin
Thailand: Several significant offshore discoveries in the Gulf of Thailand recently
India: Active E&P activity, 70% of offshore acreage is deepwater
Vietnam: Considerable deepwater potential
Malaysia: Offshore Sabah is the region’s exploration hot spot, 20 PSCs in deepwater & 16 discoveries
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• 71 Exploration Blocks – 44 awarded and 27 still open
• 22 Deepwater/ Ultra DW blocks – 20 awarded to 8 PSC contractors
• 146 oil & 195 gas fields discovered – only 53 oil & 23 gas fields
producing
• Oil reserves incl. condensate 5.25 bb and gas 87.95 tscf, Jan 2006
Exploration acreages – 565,500 km2
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Source: Petronas
Malaysia has 5.25 billion barrels of oil reserves and 87.95 trillion cubic ft of gas reserves
Deepwater gas4%
Shefal gas96%
Shelfal oil74%
Deepwater oil26%
5.25 billion barrels of oil and condensate
87.95 trillion cubic feet of gas
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Shelfal Oil, 35%
Deepwater Oil, 65%
Deepwater Gas, 43%
Shelfal Gas, 57%
Deepwater/Ultra Deepwater to contribute major portion of undiscovered resources – 10 billion boe
Source: Petronas
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Positive results in Malaysia deepwater the past years
1993 1994 1995 1998 2002 2003 2004 2005 Malaysia as Deepwater
Regional Hub
Deepwater PSC
Introduced
Kebabangan Gas
Discovered
First Deepwater Exploration
Well (1170m)
Kamunsu East (Gas)
Discovery
Kikeh Oil Discovery
Limbayong Gas Discovery
Gumusut/Kakap Oil Discovery
Ubah, Pisangan and Jangas Oil & Gas Discoveries
Kikeh FDP ApprovedFirst SPAR in Malaysia
First GAP Application in the World
Malikai Oil DiscoveryFirst SBL Application in
Malikai
Source: Petronas
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Deepwater/ Ultra Deepwater Discoveries
Field name Recoverable Water Depth
Onstream Date
Operator
Kikeh 536 mmboe 1,300 m Q2/Q3 2007 Murphy Oil
Gumusut/ Kakap
620 mmboe 1,100 m Q4 2010/
Q1 2011
Shell
Malikai 108 mmboe 480 m Q2 2011 Shell
Kebabangan 2.2 tscf > 200 m Q3 2011 ConocoPhillips
Jangas 81 mmboe >1000 m Q4 2011 Murphy Oil
Ubah Crest 215 mmboe >1000 m Q2 2012 Shell
Pisangan 56 mmboe >1000 m Q3 2012 Shell
Kamunsu 2.2 tscf >1000 m Q2 2013 Shell
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Fast Track Implementation of Deepwater Projects
Kikeh
Gumusut/Kakap
Malikai
Kebabangan
Jangas
Ubah Crest
Pisangan
Kamunsu
2007 2008 2009 2010 2011 2012 2013
Exploration Strategy
Exploration
Appraisal & Reservoir Evaluation
Field Development Studies
Preliminary Engineering
Project Implementation
Indicative first oil
Legend
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43 Deepwater Exploration Wells Planned 2007-2010
10 1011 11 11
0
5
10
15
2006 2007 2008 2009 2010
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Malaysia: Total expenditure: USD35,683 million Expenditure Breakdown 2007-2010
430
113
6,299
972
2,953
656
289
83
915,868
10,053
8,558
2,110438
- 2,000 4,000 6,000 8,000 10,000 12,000
US$ million
Seismic Data Acquisition
Reservoir Management
Offshore Drilling
Subsea Technologies and Equipment
Fixed Platforms
Floating Platforms
Platform Design & Project Management
E, I & T
Marine Systems & Equipment
Maintenance
Modifications
Operations
Downhole & Well Services
Decommissioning
Source: Infield/INTSOK
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Malaysia is looking for companies to establish strong bases in Malaysia
Key Areas Key Activities
Development Concept FEED & Feasibility Studies
Support Structure Engineering
Topside Design
Hull Design – Dry Tree units (DTU)
Hull Design – Floating Vessels/Wet Tree Units
Support Structure Fabrication Fabrication – Topside & Hull
Design, Engineering & Manufacturing
Flowline & Risers
Umbilical/Fluid Transfer Lines (FTL)
Subsea Modules
Installation Pipeline installation
Source: Petronas
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Other Areas of Opportunities/ challenges
• Strategic alliance with Petronas – capacity building
• Small or marginal fields Development
• Brown Fields development
• High CO2 content
• Enhanced Oil Recovery in matured fields
• Demand for rigs/ semi-sub
• Marine vessels
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Norwegian companies in O&G sector
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Planned Events 2007
• Jan: Resource Management by Petronas/Petrad
• June 6-7: Pipeline Integrity workshop by Petronas/Intsok/
Petrad
• June 13-15: Norwegian Pavilion at Oil & Gas Asia Exhibition
• June 25-29: PETRONAS Delegation to Norway by IN KL/Intsok
• Nov 26-28: Deepwater Technology workshop by Petronas/
Intsok/ Petrad
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Malaysia: Business Culture
• Multi-racial & multi-cultural society - 3 major distinct races. Advantage to differentiate races for business and social reasons
• Personal relations are important for business. Building trust takes time
• Consciousness in social hierarchy
• Reflected in hierarchical structures of Malaysian companies
• Honorific Titles- Datuk, Dato, Datuk Seri, Tan Sri & Tun.
• Importance of Designation
• Face Value – has a lot of significance in workplace and business relations. Once a person loses face, he/she may withdraw from the interactions of business negotiation altogether.
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Malaysia: Business Culture
• Respect for elders by the way one speaks, addresses or behaves towards one’s elder.
• Managers or leaders are considered “elders” and wise. Decisions of leaders hardly challenged.
• Understand the Decision Making Process of the organization you are dealing with – crucial for business success
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