Category: Technology News

Malaysia’s Vantris Energy has won two major offshore transportation and installation (T&I) work orders from national oil companies Petronas Carigali and PTTEP, with a combined value of approximately RM1.8 billion (about $440 million). The contracts were awarded to VTEB Offshore Sdn Bhd, the rebranded entity formerly known as Sapura Offshore, marking a significant step in the contractor’s financial turnaround.

The first work order, from Petronas Carigali, covers T&I services for the SK316 NC3/NC8 Trunkline 7 FAC project offshore Sarawak. The second order comes from PTTEP HK Offshore Ltd and PTTEP Sarawak Oil Ltd for T&I services supporting PTTEP’s development projects in the same region. Both contracts are scheduled to commence in the third quarter of Vantris’s fiscal year ending October 2026 and are expected to be completed by the fourth quarter of fiscal 2028.

The awards represent a strong vote of confidence in Vantris Energy’s subsea capabilities as the company rebuilds from its predecessor’s debt restructuring. CEO Muhammad Zamri Jusoh has emphasized operational excellence and safety as key drivers. The contracts also highlight sustained upstream investment by Petronas and PTTEP in the mature but still active Sarawak basin, where deepwater and marginal field developments require specialist installation vessels and engineering.

Industry observers note that the T&I work is critical for maintaining production levels in Malaysia’s aging offshore fields. The SK316 project, in particular, involves trunkline infrastructure to connect new gas wells to existing processing facilities. PTTEP’s developments in the same area are part of its strategy to grow gas output for domestic and export markets. The awards come amid broader uncertainties in Malaysia’s upstream sector, including jurisdictional debates between Petronas and the Sarawak state government, as well as global supply chain disruptions.

Vantris Energy’s rebound is seen as a bellwether for the Malaysian oilfield services sector. The company’s ability to secure multi-year, high-value contracts from both Petronas and a regional peer like PTTEP signals that local contractors remain competitive in the E&P supply chain despite the volatility. Going forward, the successful execution of these projects will be closely watched as a measure of Malaysia’s subsea installation capacity and its role in regional energy security.

Key entities: Vantris Energy, Petronas Carigali, PTTEP, VTEB Offshore, SK316, Sarawak

Source: upstreamonline.com · 2026-09-25 · https://www.upstreamonline.com/field-development/petronas-and-pttep-award-440-million-offshore-work-to-vantris-energy/2-1-2049339

Malaysian offshore services contractor Vantris Energy has received a major boost with the award of two transportation and installation (T&I) contracts worth a combined RM1.8 billion (approximately $440 million) from Petronas Carigali and PTTEP. The work orders, secured by Vantris’ wholly owned unit VTEB Offshore (formerly Sapura Offshore), underscore the company’s continued recovery and its strengthening position in the Southeast Asian subsea market.

The first contract comes from Petronas Carigali for the SK316 NC3/NC8 Trunkline 7 FAC project, covering transportation and installation of offshore facilities. This project is part of Petronas’ ongoing efforts to develop gas resources offshore Sarawak, a key region for Malaysia’s upstream ambitions. The second award is from PTTEP HK Offshore Ltd and PTTEP Sarawak Oil Ltd, covering T&I services for PTTEP’s development projects in the same area, further deepening the Thai operator’s footprint in Malaysian waters.

Both work orders are scheduled to commence in the third quarter of Vantris’ financial year ending October 31, 2026 (3QFY2027), with completion targeted by the fourth quarter of FY2028. This gives the contractor a steady workload for more than two years, providing revenue visibility that will help stabilise its financial position after a period of restructuring. The contracts also highlight the strong demand for subsea installation services in the region, driven by sustained investment in gas infrastructure by national oil companies.

The awards are significant for Vantris Energy, which has been working to rebuild its balance sheet and operational credibility under new management. The company’s return to financial buoyancy is further validated by these high-value contracts from two major operators. Industry observers see the deals as a sign of confidence in Malaysian OGSE capabilities, especially in the technically demanding T&I segment, which requires specialised vessels, engineering expertise and project management skills.

From a broader perspective, the contracts reflect the ongoing upstream activity in Southeast Asia, particularly offshore Malaysia and Thailand. Both Petronas and PTTEP have committed to maintaining production from their core acreage through infill drilling and new field developments. The need for reliable subsea installation partners is critical as these operators extend the life of existing fields and bring new tie-backs online. The use of local contractors like Vantris also aligns with national content objectives, boosting the domestic supply chain.

Looking ahead, execution will be closely watched as Vantris deploys its fleet and teams to deliver on the projects on schedule. The company’s ability to manage logistics in the challenging offshore environments of Sarawak will be key. Success could open the door to further awards as Petronas and PTTEP continue to sanction new developments in the region, reinforcing Malaysia’s role as a hub for offshore E&P services in Asia Pacific.

Key entities: Vantris Energy, Petronas Carigali, PTTEP, VTEB Offshore, SK316

Source: upstreamonline.com · 2026-09-25 · https://www.upstreamonline.com/field-development/petronas-and-pttep-award-440-million-offshore-work-to-vantris-energy/2-1-2049339

KUALA LUMPUR (Sept 25) — Vantris Energy Bhd has announced that its indirect wholly-owned subsidiary, VTEB Offshore Sdn Bhd (formerly Sapura Offshore Sdn Bhd), has been awarded two offshore transportation and installation (T&I) work orders with a combined value of approximately RM1.8 billion. The disclosure was made via a Bursa Malaysia filing on Friday, signaling a major boost for the company’s upstream services portfolio.

The first work order, awarded by PETRONAS Carigali Sdn Bhd, covers the transportation and installation of offshore facilities for the SK316 NC3/NC8 Trunkline 7 FAC project. This project is part of PETRONAS’s ongoing development of gas resources offshore Sarawak, an area critical to Malaysia’s long-term energy supply. The contract utilizes an existing framework agreement, allowing for expedited execution. Work is scheduled to commence in the third quarter of Vantris’s financial year ending October 31, 2026 (3QFY2027), with completion expected by the fourth quarter of FY2028.

For Vantris Energy, which emerged from the restructuring of Sapura Energy Bhd, this contract represents a significant step toward rebuilding its order book and financial health. The company has been focusing on converting its pipeline of opportunities into firm contracts, and the RM1.8 billion value underscores the trust PETRONAS places in VTEB Offshore’s technical capabilities. Vantris Energy’s shares were unchanged at 33.5 sen at midday break on Friday, giving it a market capitalisation of about RM776.2 million.

The T&I scope involves complex subsea operations, including the use of heavy-lift vessels and pipelay barges to install trunklines and associated subsea structures. Such work requires advanced engineering, precise navigation, and robust project management to ensure safe and timely installation in the offshore environment. VTEB Offshore’s track record, built under the former Sapura Offshore banner, includes numerous similar projects in Malaysian waters, giving it a competitive edge in executing this contract.

This win comes amid broader uncertainties in the global upstream sector, including supply chain disruptions and fluctuating oil prices. It demonstrates PETRONAS’s commitment to advancing its domestic E&P projects, particularly in the SK316 block, which is vital for maintaining gas production and meeting domestic demand. For the Malaysian oil and gas services industry, the award signals sustained investment by the national oil company, providing a positive outlook for subcontractors and service providers in the region.

Looking ahead, Vantris Energy’s management has indicated that priority now rests on strong project execution, healthier cash generation, and building a sustainable growth foundation. The second work order, while not detailed in the filing, adds further depth to the company’s backlog. Industry observers will watch for additional contract announcements and the company’s ability to deliver on these commitments, which could lead to further improvements in its financial performance and share price momentum.

Key entities: Vantris Energy, VTEB Offshore, PETRONAS Carigali, SK316, Sapura Offshore, Malaysia

Source: theedgemalaysia.com · 2026-09-25 · https://theedgemalaysia.com/node/819346

Ventura Offshore, a deep-water drilling contractor, has announced a contract amendment with Searah West Ganal Limited and Searah Ganal Deepwater Limited—both subsidiaries of Searah Limited, a joint venture between Eni and PETRONAS. The amendment covers the drilling of the JKNE Upside-1 Dir well in Indonesia, utilising the semisubmersible drilling rig SSV Catarina.

This extension highlights the ongoing commitment of Eni and PETRONAS to explore deepwater opportunities in the Ganal block, located in the Kutei Basin offshore East Kalimantan. The region is known for its significant hydrocarbon potential, with recent discoveries underscoring its importance to Indonesia’s upstream sector. The SSV Catarina is a modern semisubmersible rig capable of operating in water depths exceeding 1,500 metres, suitable for the challenging deepwater environment.

The contract amendment comes as operators in Southeast Asia continue to invest in exploration and production technologies to maintain output and discover new reserves. For Ventura Offshore, the extension provides additional revenue stability and reinforces its position as a key drilling contractor in the region. The company has been active in Indonesia for several years, supporting major oil and gas projects.

Deepwater drilling technology has evolved significantly, with advancements in dynamic positioning, blowout preventer systems, and real-time data monitoring enhancing safety and efficiency. The JKNE Upside-1 Dir well is expected to target Miocene-aged reservoirs similar to those found in nearby producing fields. Industry observers will watch the drilling results closely, as success could open up further exploration in the area.

The partnership between Eni and PETRONAS in the Ganal block forms part of a broader trend of international oil companies collaborating to share risk and technical expertise in complex deepwater provinces. With Indonesia aiming to boost oil and gas production to meet growing domestic demand and export targets, such ventures are critical. The government has also introduced fiscal incentives to attract investment in frontier and deepwater areas.

Looking ahead, the drilling of the JKNE Upside-1 Dir well will likely proceed in the coming months, with results expected to inform future development plans. If successful, it could lead to a new development hub in the Ganal block, further strengthening Indonesia’s position as a key hydrocarbon producer in Southeast Asia.

Key entities: Ventura Offshore, Eni, PETRONAS, SSV Catarina, Ganal block

Source: energy-pedia.com · 2026-09-25 · https://www.energy-pedia.com/articles.aspx?filter2=0&filter1=1

A group of subsea industry leaders has announced the formation of the Blue Digital Ecosystem, a collaborative initiative designed to tackle the growing challenges of AI and digitalization in offshore oil and gas operations. The ecosystem aims to bring together operators, technology developers, and other subsea participants to share knowledge, develop common standards, and accelerate the deployment of digital solutions across the subsea value chain.

Global Underwater Hub CEO Neil Gordon emphasized the transformative potential of the initiative, stating, “As AI and digitalization transform our industry, our future success will depend on how effectively we share knowledge, embrace change and work together.” Elementz CEO Jason Brown added that the ecosystem is intended to address real-world asset integrity challenges by developing technologies around actual industry requirements, rather than pursuing innovation in isolation.

The Blue Digital Ecosystem comes at a critical time for the subsea sector, which has historically struggled with fragmented data systems and siloed expertise. By creating a centralized platform for collaboration, the initiative aims to break down these barriers and enable more efficient use of AI for predictive maintenance, real-time monitoring, and autonomous inspection. This could significantly reduce downtime and operational costs for deepwater and ultra-deepwater fields.

Industry analysts note that the push for digitalization in subsea operations is being driven by the need to improve safety and efficiency in increasingly challenging environments. With many fields aging and new developments moving into deeper waters, the ability to leverage AI for anomaly detection, digital twins, and remote operations has become a strategic priority. The Blue Digital Ecosystem is expected to complement existing efforts by major operators and technology firms to standardize data formats and interoperability protocols.

The initiative also reflects a broader trend in the oil and gas industry toward open innovation and ecosystem-based models. Rather than relying solely on proprietary solutions, companies are recognizing the value of pre-competitive collaboration to solve common challenges. If successful, the Blue Digital Ecosystem could serve as a template for similar efforts in other segments of the upstream sector, such as drilling and completions.

Looking ahead, the partners plan to expand the ecosystem to include additional stakeholders and pilot projects. The focus will be on demonstrating tangible value through use cases in asset integrity management, subsea inspection, and digital twin integration. The industry will be watching closely to see whether the initiative can deliver on its promise of faster, more cost-effective digital transformation in the subsea domain.

Key entities: Global Underwater Hub, Elementz, Blue Digital Ecosystem, Neil Gordon, Jason Brown

Source: worldoil.com · 2026-09-25 · https://www.worldoil.com/news/2026/9/25/subsea-leaders-target-ai-digitalization-challenges-with-blue-digital-ecosystem

Malaysia Petroleum Management (MPM), the petroleum resource manager for Petronas, is ramping up efforts to evaluate the hydrocarbon potential in frontier basins such as Peninsular Malaysia’s Langkasuka Basin and Penyu Basin. By deploying multi-client 2D and 3D seismic surveys alongside other advanced technologies, MPM aims to better map these underexplored regions and create a compelling case for upstream investment. This strategic push is part of a broader initiative to sustain Malaysia’s position as a leading oil and gas hub in Southeast Asia.

According to MPM, approximately 40 billion barrels of oil equivalent have been discovered in Malaysia to date, but around 21 billion barrels remain classified as “yet-to-find” resources. The vast majority of these untapped reserves lie in deepwater environments, where development costs are high and extraction requires cutting-edge technology and operational expertise. MPM’s efforts are specifically directed at de-risking these areas to attract international oil companies and service providers with the necessary capabilities.

One of MPM’s key strategies is its innovative “clustered exploration” approach, which is tailored for mature geological regions. This technique has already uncovered untapped potential in previously explored areas, helping to overcome the complexities of resource extraction in mature basins. By applying advanced geological modeling and seismic interpretation, MPM can identify subtle traps and accumulations that traditional methods might miss, thereby extending the life of existing fields and opening new play fairways.

The initiative comes at a time when global upstream investment is increasingly selective, with operators focusing on high-impact, low-cost opportunities. Malaysia’s competitive fiscal terms and established infrastructure make it an attractive destination, but unlocking the deepwater potential will require continued technology adoption and collaboration. MPM’s use of multi-client surveys also allows multiple operators to share data and reduce exploration risk, aligning with industry best practices for frontier exploration.

Industry analysts note that Malaysia’s upstream sector faces headwinds from maturing fields and declining production, making the need for new discoveries urgent. The clustered exploration model, combined with modern seismic imaging and digital reservoir characterization, could help reverse the decline and sustain domestic oil and gas output for decades. MPM’s proactive approach in promoting these frontier basins is expected to generate significant interest during upcoming licensing rounds.

Looking ahead, MPM plans to continue refining its exploration strategies and invest in next-generation subsurface technologies. The success of the Langkasuka and Penyu basin campaigns will be critical in determining whether Malaysia can attract the billions of dollars needed to develop its deepwater resources. With global energy demand remaining robust and Southeast Asia’s gas market growing, the stakes are high for MPM to deliver on its promise of unlocking the country’s remaining hydrocarbon potential.

Key entities: Malaysia Petroleum Management, Langkasuka Basin, Penyu Basin, clustered exploration

Source: theedgemalaysia.com · 2026-09-24 · https://theedgemalaysia.com/content/advertise/boosting-investment-in-Malaysias-upstream-sector

Malaysia’s economy minister, Datuk Seri Mohamad Hasan, emphasized that overseas markets will be crucial for the growth of the country’s oil and gas services sector over the next three years. Speaking at an industry event, he noted that Malaysian companies must look beyond domestic borders to secure new contracts and enhance their technological capabilities.

The minister highlighted that the global energy transition and increasing demand for oil and gas in emerging markets present significant opportunities for Malaysian service providers. By tapping into international projects, these firms can acquire cutting-edge technologies and improve their competitiveness in areas such as drilling, completions, and subsea engineering.

Malaysia’s oil and gas services sector has long been a cornerstone of the national economy, with companies like Sapura Energy and Bumi Armada gaining recognition worldwide. However, the domestic market is mature, and growth potential lies abroad. The minister’s remarks come at a time when Southeast Asia is seeing increased upstream activity, particularly in Malaysia and Vietnam.

The government is expected to support the sector through trade missions, financing schemes, and partnerships with foreign operators. This strategic push aligns with Malaysia’s goal of becoming a regional hub for oil and gas services and technology. The minister called on industry players to collaborate and share best practices to strengthen their global footprint.

Looking ahead, the success of this overseas expansion will depend on factors such as geopolitical stability, oil prices, and the ability of Malaysian companies to innovate and adapt to new technologies. The minister expressed confidence that with the right strategy, the sector can achieve sustainable growth and contribute significantly to the nation’s economy.

Key entities: Malaysia, Economy Minister Mohamad Hasan, oil and gas services sector, Southeast Asia

Source: malaymail.com · 2026-09-23 · https://www.malaymail.com/news/malaysia/2026/09/23/overseas-markets-key-to-growing-malaysias-oil-and-gas-services-sector-in-next-three-years-says-economy-minister/236216

STRYDE, a seismic technology company specializing in lightweight nodal systems, has expanded its presence in Indonesia with a new deployment of 12,000 nodes in partnership with PT SUCOFINDO, a leading Indonesian inspection and testing services provider. The deployment marks one of the largest nodal surveys in the region and reinforces the shift toward dense, high-resolution seismic acquisition in Southeast Asia’s oil and gas exploration sector.

STRYDE’s nodal technology is designed for demanding environments, offering a compact and battery-efficient solution that reduces the surface footprint compared to traditional cable-based systems. The system allows operators to acquire dense seismic data sets while significantly cutting equipment, crew, and logistics requirements. According to STRYDE, the track record built through earlier successful deployments in Indonesia has been key to driving wider adoption among contractors and operators who have seen the technology perform in local jungle and swamp conditions.

Indonesia remains a focal point for oil and gas exploration, particularly in basins such as Kutei and North Sumatra, where recent discoveries have spurred renewed seismic activity. The ability to deploy thousands of nodes rapidly and cost-effectively is increasingly critical as operators seek to de-risk prospects and improve imaging in geologically complex areas. PT SUCOFINDO’s involvement brings local expertise in data quality assurance and operational support, ensuring the survey meets industry standards.

The expansion comes as Southeast Asian national oil companies and international players ramp up exploration spending to counter declining production from mature fields. Nodal seismic technology offers a competitive edge by enabling higher fold data and better subsurface illumination, which can lead to more accurate reservoir characterization and reduced drilling risk. The STRYDE-PT SUCOFINDO partnership demonstrates how technology collaborations can strengthen local supply chains while bringing advanced exploration tools to the region.

Looking ahead, the success of this deployment could accelerate further adoption of nodal systems across Indonesia and neighboring countries such as Myanmar, Malaysia, and Vietnam where similar operational challenges exist. STRYDE is also exploring integration with machine learning workflows for faster data processing and interpretation. As exploration budgets remain under pressure, technologies that lower cost per square kilometer while improving data quality are likely to see continued demand in Southeast Asia’s upstream sector.

Key entities: STRYDE, PT SUCOFINDO, Indonesia, seismic nodes

Source: energy-pedia.com · 2026-09-23 · https://www.energy-pedia.com/news/indonesia/stryde-expands-indonesian-footprint-with-12-000-node-pt-sucofindo-deployment-205402

Upstream oil and gas players in Malaysia are intensifying efforts to strengthen ties with Petronas amid a backdrop of global market volatility and operational challenges. A recent engagement organized by the Malaysian International Chamber of Commerce and Industry (MICCI) Petroleum Production Sharing Contractors (PPSC) forum brought together senior representatives from production sharing contractors and industry stakeholders to discuss pressing issues facing the sector. The dialogue centered on how closer partnerships with Petronas can help contractors adopt advanced technologies and improve project economics.

Key topics included the deployment of digital twin solutions for reservoir management, automated drilling systems, and enhanced oil recovery techniques tailored for mature Malaysian fields. Contractors emphasized the importance of technology transfer and local capability building, which are essential for sustaining production levels in the country’s aging offshore assets. Petronas, for its part, reaffirmed its commitment to supporting PSCs through flexible contract terms and shared investment in pilot projects.

The meeting also addressed the impact of recent global supply chain disruptions on drilling and completion activities in Malaysia. Several contractors reported delays in the delivery of critical equipment, which have led to cost overruns and schedule slippages. The industry called for a more collaborative approach to procurement and logistics, leveraging Petronas’s scale to secure better pricing and availability of essential items such as subsea trees and high-pressure flowlines.

Another area of focus was the integration of artificial intelligence and machine learning in production optimization. Contractors shared case studies where ML algorithms improved production forecasting accuracy by up to 15%, reducing unplanned downtime and extending field life. Petronas highlighted its ongoing collaboration with local universities and technology startups to develop homegrown AI solutions, aligning with the government’s push for digital transformation in the energy sector.

The forum also touched on regulatory and environmental considerations. With stricter emissions targets, PSC operators are under pressure to reduce methane leaks and flaring. Discussions covered the adoption of continuous monitoring systems using IoT sensors and satellite data, which can detect leaks in real-time. Petronas introduced its framework for carbon capture utilization and storage (CCUS) pilot projects, which some contractors may participate in as part of enhanced oil recovery schemes.

Looking ahead, participants expressed optimism that closer alignment between Petronas and its contractors would foster a more resilient upstream ecosystem. The next MICCI PPSC meeting is expected to produce a technology roadmap outlining priority areas for joint investment. Industry analysts see this collaboration as critical for Malaysia to maintain its position as a leading hydrocarbon producer in Southeast Asia, especially as regional competition intensifies and international oil companies reassess their portfolios in the basin.

Key entities: Petronas, MICCI PPSC, Malaysia upstream, production sharing contractors, E&P technology, digital twin, AI/ML

Source: nst.com.my · 2026-09-23 · https://www.nst.com.my/business/corporate/2026/09/1539325/upstream-players-seek-closer-petronas-ties-amid-uncertainties?source=widget

Perenco, the independent oil and gas company, has announced the launch of Brazil’s first offshore electrification project, in partnership with Port of Acu. The project will be deployed at the PPG-1 fixed production platform, located in the shallow-water Pargo field within the Campos basin. By connecting the platform to an onshore power supply, the initiative is expected to significantly reduce greenhouse gas emissions generated by conventional offshore power generation.

The PPG-1 platform was originally operated by Petrobras, but is now part of Perenco’s portfolio following an asset acquisition. This electrification project involves installing subsea cables and related infrastructure to transmit electricity from the Port of Acu’s existing power grid to the platform. Once completed, the platform will be able to shut down its gas turbines used for power generation, leading to a major cut in operational carbon dioxide and methane emissions.

Fabio Palmigiani, South America Correspondent for Upstream, reported that this is the first offshore electrification project in Brazil. The move aligns with the global oil and gas industry’s growing focus on decarbonisation, especially in offshore operations. Brazil, as a major offshore producer in deep and shallow waters, has been under pressure to address its carbon footprint. Perenco’s initiative could serve as a blueprint for other operators in the region, potentially prompting more investment in offshore electrification along the Brazilian coast.

Offshore electrification is a proven technology for lowering emissions from oil and gas production facilities. Platforms traditionally rely on natural gas turbines to generate electricity, which produce significant CO2 and other pollutants. By switching to power from onshore grids — which can include renewable sources such as wind and solar — operators can achieve substantial reductions in their upstream carbon intensity. The project also reduces operational costs over the long term by decreasing fuel gas consumption and maintenance requirements for turbines.

The partnership between Perenco and Port of Acu is notable because the port is already a major industrial hub for oil and gas support activities. Port of Acu has been positioning itself as a centre for offshore energy logistics, and this electrification project enhances its role in the energy transition. The Campos basin, where the PPG-1 platform is located, is one of Brazil’s most mature offshore basins, with numerous legacy platforms. If successful, this project could encourage other operators in Campos and elsewhere to pursue similar electrification, accelerating the decarbonisation of Brazil’s offshore sector.

Looking ahead, Perenco is expected to provide details on the project timeline, cost, and expected emission reductions. The company has not yet disclosed the specific power capacity or the length of the subsea cable. However, the launch of Brazil’s first offshore electrification project marks a significant milestone for the country’s upstream industry. It demonstrates that smaller independent operators can drive innovation in decarbonisation, often more quickly than major multinationals. The industry will be watching closely to see how this project performs, as its success could unlock broader adoption of offshore electrification technology in Brazil and other Latin American basins.

Key entities: Perenco, Port of Acu, Campos basin, PPG-1 platform, Pargo field, offshore electrification, Brazil

Source: upstreamonline.com · 2026-09-23 · https://www.upstreamonline.com/production/perenco-launches-brazil-s-first-offshore-electrification-project/2-1-2048219