Malaysia's gas industry roadmap will be in line with international best practices, says Malaysian Gas Association

By Emir Zainul | theedgemarkets.com | 2020-12-04 18:12:03
KUALA LUMPUR (Dec 4): Malaysia's Natural Gas Roadmap (NGR), which is under the National Energy Policy (NEP) and is currently being drafted by the Government, will be consistent and be on par with other leading gas producing countries, according to the Malaysian Gas Association (MGA).

MGA president Hazli Sham Kassim said that the conclusion was made after a series of roundtable discussions with governments of other gas producing countries during the 7th International Energy Forum (IEF) — International Gas Union (IGU) Ministerial Gas Forum 2020 held virtually yesterday.

"MGA has been calling for NGR to be developed since 2018 in order to future proof the [gas] industry by ensuring security of supply, increasing demand and liberalising the market. We eagerly look forward [to] its release in 1Q," he said in a statement today.

Another consistent theme during the roundtable discussions was the important role of natural gas in energy transition; in providing secure, affordable and sustainable baseload energy source in synergy with the growing but often intermittent renewable energy sources.

This synergy, Hazli said, will give rise to significant investment opportunities, not only in upstream but across the value chain.

Malaysia hosted the first ever virtual IEF-IGU Ministerial Gas Forum yesterday, inaugurated by Prime Minister Tan Sri Muhyiddin Yassin.

Muhyiddin noted yesterday that the NGR is currently being drafted by the Government and is due to be announced during the first quarter of 2021.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed as well as PETRONAS president and group chief executive officer Tengku Muhammad Taufik were also present during the roundtable.

In total, the two panels consisted of 13 Energy Ministers, 16 Senior Government Officials, 12 Heads of International Organisation and 40 leaders of the gas industry from Asia, Middle East, Africa, Europe, North America and South America.

Edited by Lam Jian Wyn

SAPURA News

We have successfully and safely installed the first monopile for an offshore wind farm in the Taiwan Strait. A testament to our strategic assets and technical capabilities, this marks the beginning of our journey into the renewable energy.

Brent USD 49 now. Watch out.

Technically, Heikin Ashi candle for monthly chart turned green again in November. Weekly chart still strong bullish Heikin Ashi candle. Weekly: Hollows or green candles with no lower shadows indicates some strong uptrend. Trade at your own risks!

Brent 48.15 now. WOW

Brent USD 47.11 now. WOW!

price close 0.115 or above this afternoon should be great

Three white soldiers on weekly chart. Should indicate bear reversal. Uptrend starts now. Vaccine out. Oil up.

Yes. The reason price dropped in recent years due to

1. High debt
2. Loss quarter result
3. CEO renumeration very high
4. Oil price

First three above has been corrected in this recent months. Should fly again above RM1.

0.13 already

Foxtrot awarded a contract to Sapura Drilling for a tender assist drilling rig Sapura Berani. The service company had previously work for Foxtrot in the West African country in 2015-16.

The contract covers a semi tender-assist drilling rig service for three wells, with an option for one more well.

Sapura said this came in addition to another of its rigs working in Africa. The semi-submersible Sapura Jaya is working offshore Angola for Chevron’s local subsidiary.

Foxtrot operates Block CI-27. This licence holds four gas fields, tied back to two offshore platforms. Sales averaged 162.7 million cubic feet (4.6 million cubic metres) per day of gas in the first half of 2020, with 1,739 barrels per day of oil and condensate.

The government struck a new deal with the CI-27 partners in February this year. This increased the price of gas to $6 per mmBtu and extended the licence for 10 years, to August 2034.

In exchange, the companies committed to spending $100 million on new processing facilities and pipelines, to supply power plants. They also agreed to drill three new wells, at an estimated cost of $215mn.

RAK Petroleum, which owns a 33.33% indirect stake in Foxtrot, said capital investments should be funded from operating revenue.

Foxtrot also has a 24% stake in an exploration licence, CI-12.

Bassoe Offshore reported in August that Foxtrot intended to drill the wells on the Marlin field. The consultancy forecast that work would take at least 260 days.

Sapura also won work on the transportation and installation of the Amoca platform, in Mexico, which should be completed by the fourth quarter of 2022. In Brazil, Petrobras awarded Sapura a 12-month extension for its pipe-laying support vessel Sapura Esmeralda

Sapura wins Cote d’Ivoire drilling
Sapura Energy will drill offshore Cote d’Ivoire in the first quarter of 2022 for Foxtrot International.

hi. trump kalah, semua hepi. uptrend

closed unchanged 0.12 hehe

August very very big volume now justified. It is because something decisive will take place after that.

- two quarter profit in a row
- top management changed
- CEO changed

technically, green candle with extraordinary big volume during August resulting with break out and rally. upward rally.

Anuar Taib take over starting next month under 6 months transition period.

UOB Kay Hian Research upgrades Sapura Energy to Hold, TP 13c

Barclays raises 2020 oil price outlook, expects limited downside to demand view

Analysts raise TP for Sapura Energy after second quarterly net profit in FY21 - The Edge

KUALA LUMPUR (Sept 21): Analysts covering Sapura Energy Bhd have raised their target prices (TP) for the oil and gas (O

Oil Has Best Week Since June After Saudis Defend Market Recovery - Bloomberg

shark pun masuk meeting dulu ma pagi ni. hehe. after meeting, confirm fly

forget oil price. sapura slowly to invest in renewable energy. and their gas business starting to make profit.

why so surprise. we are here also try to make profit during covid and MCO. hahaha

SAPURA ENERGY BERHAD SUSTAINS PROFITS FOR SECOND CONSECUTIVE QUARTER IN FINANCIAL YEAR 2021

maybe HLG and AmInvest want to collect some more. that’s why price call lower.

excellent

Gas sales agreement with Petronas likely a new income source for Sapura Energy - 6 Sept 2019

buy this before it’s too late

By digesting why positive development happened to Sapura related with Sapura participation in gas industry.

Today’s New - Petronas: LNG-fuelled tankers to more than double by 2030

and you can read last year news about Sapura is a supplier of gas to Petronas.

7 September 2019 News - SapuraOMV Upstream (Sarawak) Inc and the two companies had signed the full-term upstream gas sales agreement with Petronas for the Gorek, Larak and Bakong fields under the first development phase of the SK408 production sharing contract.

i’m top up more today. last month big spike and volume might something in the making

Chayok. Very good news. Hold it for long term. I think a lot of big boys has accumulated kaw kaw at 0.9 to 0.11. That’s why the price static there almost 4-6 months. Now, it will going up with this kind of news.

volume coming today

Tomorrow will fly.

Brent closed USD 46.32, highest since MCO

profit taking this week. low selling volume.

Brent prices climb on U.S. output cuts, China trade deal hopes

Oil up due to storm driven output cuts. Could reach Brent USD 46 per barrel for the first time since pandemic.

without oil, u cannot move truck to distribute vaccine. hehehe

come on glove trader. many vaccine out. time to move to energy. hehe

last chance to buy below 0.13

0.13 to be broken today. check it out.

so many vaccine news come out. hopefully tomorrow up. hehe

only this counter at the moment we can be a millionaire in short term. hahaha

closed unchanged at 0.125
for me is a positive development after static in between 0.09 to 0.11 for almost 4-5 months.

today bye bye 0.12

Sapura last drop in price in March 2020 due to MCO and Covid worldwide. Most economy activities that time gradually closed making oil price dropped to the bottom. So, any news on vaccine out and reopening of economy activity, will effect Sapura price.

KAQ4468, check 11 August spike.

Nasdaq also green tonight

Up tomorrow. because Russian said 40,000 will be inoculated for phase 3 of vaccine trial as requested by WHO.