Petros participating in 17 offshore blocks in Sarawak with over RM3.5 bln investment over next 3 years

Petros is participating in 17 offshore blocks with an investment of over RM3.5 billion.

By Ling Hui

KUCHING, Nov 29: Petroleum Sarawak Berhad (Petros) is participating in 17 offshore blocks in Sarawak, of which 10 exploration blocks have commenced exploration activities, says Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan.

He said these activities are in partnership with SKEO from Korea, INPEX from Japan, PTTEP from Thailand, Longboat Energy from Norway, Shell and PETRONAS, involving more than RM3.5 billion of investments over the next three years.

Of the other seven offshore blocks, five are in production and two are in development phase, with plan to invest more than RM8.5 billion capital expenditure (CAPEX) over the next three years.

“In addition, Petros and Petra Energy have commenced drilling activities in Onshore Block SK433 in Miri. Petros has also completed the prospectivity study for Onshore Block SK334 in Limbang and Lawas area.

“Going forward, Petros will continue to be actively involved in upstream activities especially in rejuvenating onshore exploration and commercialisation,” said Awang Tengah in his ministerial winding-up at the august House today.

In midstream and downstream activities, he said Sarawak is in the midst of developing four hubs namely in Bintulu, Samalaju, Miri and Kuching under the Sarawak Gas Roadmap, which will provide access to gas, green energy and carbon capture infrastructure to industries.

For the Bintulu hub, he said the Petchem Industrial Park is rapidly developing, with the RM7 billion methanol project at pre-commissioning stage and the RM363 million medical glove project currently under construction.

Meanwhile, one sour gas commercialisation project of RM23 billion is at construction stage and three projects are expected to reach final investment decision (FID) in 2024, comprising two hydrogen projects worth RM24 billion and another sour gas commercialisation project of RM23 billion.

“For the Samalaju hub, Petros will be investing in a pipeline to deliver gas to Samalaju Industrial Park by end of 2025.

“This will enable the commissioning of 1GW combine cycle gas turbine (CCGT) power plant by Sarawak Energy Berhad. Whilst in Miri, Petros is developing 500MW CCGT power plant in collaboration with SEB and to be operationalise by 2027,” he added.

Awang Tengah, who is also Sarawak Deputy Premier, said Petros has completed the feasibility study for the upcoming Kuching Gas Hub and will complete the concept select by 2024. — DayakDaily