It said floating LNG vessels can be deployed to multiple gas fields, and monetise small stranded gas assets.
“The state-owned Petroliam Nasional Bhd (Petronas) and Sabah Oil & Gas Development Corp are going ahead with the third 2.0mtpa near-shore floating LNG project dubbed as ZLNG in Sabah, after they announced their final investment decision in December 2022.
“The ZLNG project, which is slated to come online by mid-2027, will raise Malaysia’s total LNG production capacity from 32mtpa in 2022 to 34mtpa in 2027.
“The outlook for Malaysia’s long-term gas production remains positive in line with the start-up of offshore fields,” it said.
Fitch Solutions said prospects for gas production in Malaysia are somewhat positive, as it expects Petronas to accelerate development of offshore gas fields intended for LNG production.
It said Petronas is developing the Kebabangan Phase 3 expansion project in Sabah, which is earmarked for LNG production from FLNG projects.
“We anticipate an uptick in LNG production from the Bintulu LNG plant, which would be fed by additional gas supplies of 550 million standard cubic feet per day from the Pegaga field.
KUALA LUMPUR (Jan 4): The Ministry of Finance (MOF) has taken over the offshore patrol vessel (OPV) project from THHE Destini Sdn Bhd after discovering significant problems, including the need for the government to provide an additional loan of RM152.6 million to ensure the completion of the first vessel within this year.
Type Announcement Subject OTHERS Description Memorandum of Understanding 1. INTRODUCTION
The Board of Directors of Alam Maritim Resources Berhad ("ALAM” or "the Company") (“Board”) is pleased to announce that ALAM has recently entered into a memorandum of understanding (“the MOU”) with SAFEEN Survey and Subsea Services, a joint venture company between the Abu-Dhabi based National Marine Dredging Company (“NMDC”) and Abu Dhabi Ports Group; and MCS Group, an underwater technology solutions company (headquartered in Egypt and Aberdeen) to bring together experience, marine assets and capabilities, and proprietary technology into the oil and gas (“O&G”) industry, in particular the upstream oil and gas sector in Malaysia and the region spearheaded under ALAM’s leadership (“Proposed Collaboration”).