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As more oil and gas (O&G) fields in Malaysia and the region approach the end of their lifespan, the demand for decommissioning works is set to surge.

The value of decommissioning contracts in the region, over the next three years, is expected to reach up to RM6bil, according to estimates by industry players.

UOB Kay Hian Research analyst Kong Ho Meng said while there have not been any large tenders awarded by Petroliam Nasional Bhd (Petronas), it expected contracts to be rolled out from next year.

In Malaysia, he said, about 11% or about 35 of the over 300 platforms have been operating for over 40 years, and more than 200 wells have already been identified to be plugged and abandoned.

Decommissioning is a rapidly developing sub-segment in the O&G sector, which refers to works to safely dismantle and remove wells and platforms to prevent environmental damage.

The growing requirement for decommissioning works relates to the commitment from oil majors to reduce their impact to the environment via late-life asset management.

There are two key services for decommissioning – well abandonment services and upstream facilities dismantling.

“In the United States and Europe, decommissioning works are at a mature stage, and the service providers there are quite familiar with the process.

“In the Asia-Pacific region, however, O&G players are not well-equipped to take up big jobs in this sub-sector at the moment,” he told StarBiz.

One strategy being explored by Malaysian O&G players, he said, is the possibility of teaming up with established international decommissioning service providers once the contracts are rolled out.

In its 2019-2021 activity outlook, Petronas noted the requirement for 50, 40 and 60 well abandonment for the local fields in 2019, 2020 and 2021, as well as the need for the dismantling of several platforms or facilities.

“Activities are expected to intensify as considerable assets have been operating beyond 40 years,” Petronas said in the report.

For well abandonment works, Kong said players that provide hydraulic workover units, offshore support vessels and other ancillary services such as slicklines, will be required, with Uzma Berhad and Velesto Energy Bhd seen to be potential beneficiaries.

Velesto has already been participating in plug and abandonment works, and has completed several wells since last year.

“We will continue to increase our participation in these activities,” its president Rohaizad Darus told StarBiz.

According to UOB Kay Hian, other indirect beneficiaries from well abandonment works are DAYANG ENTERPRISE HOLDINGS BHD, Petra Energy Bhd, Icon Offshore Bhd, Perdana Petroleum Bhd and DELEUM BHD

To qualify for facility decommissioning contracts, meanwhile, service players must have yard facilities, underwater and cutting services, and transport and heavy lifting services.

Under UOB Kay Hian’s coverage, the key beneficiary with the track record and assets to execute all these functions, he said, is SAPURA ENERGY BHD

Kong, in the report, added that major offshore commissioning players like Dayang Enterprise and Petra Energy were also looking at opportunities in the decommissioning space.

Moving forward, as decommissioning is still in its infancy in the Asia-Pacific region, he said stakeholders and regulators involved would take time to prepare for the coming wave, with steep learning curves and potential costs for mistakes in the early stages.

Read more at the original news by The Star.

Are you looking for Offshore Decommissioning training in Kuala Lumpur? Check out this premier training by Pace Up, Your Malaysia’s Oil & Gas Training Specialist

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Participants attended this training were given the freedom to choose to attend all the interactive training courses for 5 days, or they can choose the specific topic that is more relevant to their professional development only.

Five topics offered to the participants were Fundamentals of Flow Measurement, Introduction to Measurement Uncertainty, Custody Transfer Flow Measurement Systems, Flow Calculations & Hydrocarbon Allocation.

Majority of the participants were from major Oil & Gas Upstream sector operators namely Petronas Carigali Sdn Bhd (PCSB), ExxonMobil, Hibiscus Petroleum, Kebabangan Petroleum Operating Company (KPOC) & Petrofac. This session also witnessed a new participation from Downstream sector from BASF Petronas which had sent the key person in managing and monitoring the flow measurement of its plant in Gebeng, Pahang.

Deploying Craig Marshall, an experienced & passionate Flow Measurement training expert at NEL from The United Kingdom (UK), the session offered a dynamic interactive knowledge-exchange session with ambience training experience for the attendees at the 4-star hotel right in the heart of Kuala Lumpur City Centre.

“Good explanation on flow measurement technologies and selection criteria” Measurement Engineer, ExxonMobil

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The exclusive session has been successfully conducted at Grand Hyatt Kuala Lumpur from 11 – 13 February 2020 with the involvement of 12 participants from numerous prominent companies in Oil & Gas Industry.

Professionals from Oil & Gas operators & contractors who are responsible in this emerging operations of Well Abandonment in Malaysia, have completed this training within 3 days.

We were honoured welcoming delegates from Petronas, EnQuest, Halliburton, Vantage Energy and Uzma Berhad.

“Very good training and will be useful for me on how to do the bases of design, cost estimation, and the current technology used in P&A.” – Workover Supervisor, PETRONAS CARIGALI

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Join us to hear from the subject matter experts on:

• The roles and responsibilities of Production Technologist

• How Production Technology helps oil and gas companies in both low and high oil price period

• Applications of Production Technology to ensure optimal and improve production of oil and gas

Thierry Wee

• Founder & Managing Director at Invigour Energy
• Chartered Petroleum Engineer (ECUK) with 17 years of in oil and gas industry
• Principal Production Technologist
• Subject Matter Expert: Integrate Production Modelling, Real-time Monitoring and Optimisation
• Course trainer for: Integrated Prod. System Analysis, Prod. Enhancement Level 2, Artificial Lift, Advanced Well

Graeme Rae

• 32 years of industry experience
• Head of Petroleum Engineering and Production Technology Advisor across all of Petrofac Malaysia assets, including PSC and RSC projects
• Technical Authority for wells, short term forecasting, Well Delivery Process development, and engineer competency assessment.
• Leading near field appraisal activities including reserves assessment, concept development, and economic screening.

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