Cedigaz News Reports


Petronas, PetroVietnam to Collaborate on LNG, Renewable Energy.

Petroliam Nasional Berhad has signed a memorandum of cooperation with Vietnam Oil and Gas Group to explore potential collaboration opportunities in the upstream, renewable energy, gas, and downstream sectors in Vietnam.

The MoC covers potential collaborations in decarbonization efforts, and the development of solutions in sustainable energy, liquefied natural gas (LNG) and petrochemicals, Petronas said in a news release Tuesday.

“This collaboration signifies the shared aspiration of PETRONAS and PETROVIETNAM to provide more energy responsibly to fuel economic growth that also moves us closer to a lower-carbon future”, Petronas President and Group CEO Tan Sri Tengku Muhammad Taufik said. “In fulfilling our responsibilities as national energy companies, we look forward to combining our technological capabilities and expertise to develop energy solutions in both hydrocarbons and cleaner energy. The ambition of both NOCs is to continue offering our respective countries and the region pragmatic solutions as part of a practical and responsible pathway towards a just energy transition”.

Largest LNG Terminal in Vietnam Inaugurated

Meanwhile, Petrovietnam and its subsidiary Vietnam Gas Corporation held the inauguration ceremony of the Thi Vai Liquefied Natural Gas terminal, the largest LNG terminal in Vietnam with a capacity of 1 million tons.

With an area of around five hectares, the Thi Vai LNG terminal started construction in October 2019 with a total investment of nearly $300 million. Its port can receive LNG tankers up to 100,000 deadweight tonnage, while its tank has a storage capacity of 6.36 million cubic feet (180,000 cubic meters). The terminal capacity will reach 3 million tons per year in the second phase of construction, PetroVietnam said in a separate news release.

New 2D Survey for Langkasuka Basin

In other related news, Petronas is undertaking an offshore multi-client 2D seismic survey in the northern area of the Straits of Melaka to explore and map the hydrocarbon potential in the open blocks of PM320 and PM321 of the Langkasuka Basin.

The survey will increase the availability of a larger pool of seismic data, leading to a higher probability of discovering hydrocarbon potential, Petronas said in a news release Wednesday. The seismic survey was started in October and is set to be completed in late December. It covers an area of over 14,671.8 square meters (38,000 square kilometers) targeting to acquire approximately 3088.8 square miles (8,000 kilometers) of new 2D seismic data.

“Petronas continues to invest in data enrichment for Malaysian basins, like the emerging Langkasuka Basin”, Petronas Senior Vice President of Malaysia Petroleum Management Mohamed Firouz Asnan said. “Initiatives such as this multi-client seismic survey is expected to attract exploration interests to support the country’s production growth strategy”.

“Our recent study of the Langkasuka Basin indicates hydrocarbon potential in the untested deeper pre-Tertiary formation, which prompted for this seismic survey to be conducted. The first exploration probe is expected in the next three years to test this exciting new geological play”, Malaysia Petroleum Management Senior General Manager of Resource Exploration Azmir Zamri said.

Earlier in the month, Petronas made an oil discovery in a Suriname block co-owned with Exxon Mobil Corp. The Roystonea-1 exploration well in Block 52, operated by Petronas with a 50 percent stake, was drilled to 5,315 meters (17,437.66 feet). Drilling “encountered several oil-bearing Campanian sandstone reservoir packages”, Petronas said in an earlier news release. The well sits about 185 kilometers (114.95 miles) off the coast of the Caribbean country. It is the second discovery in Block 52, where ExxonMobil holds a 50 percent stake, after the Sloanea-1 exploration well. (November 16, 2023)