Latest news with #UniversitiTeknologiPetronas
The Sun
14 hours ago
- Business
- The Sun
110 Sarawak students receive RM28m Petronas education sponsorships
KUCHING: A total of 110 Sarawakian students have been awarded Petronas education sponsorships worth RM28 million to pursue higher education at leading universities in Malaysia and abroad. The recipients, selected from nearly 9,000 applicants, demonstrated outstanding academic performance, leadership qualities, and active participation in co-curricular activities during their 2024 Sijil Peperiksaan Malaysia (SPM) examinations. The students will enrol in courses such as chemical engineering, petroleum engineering, economics, and law at institutions including Universiti Teknologi Petronas (UTP) and universities in the UK and Australia. The awards were presented by Sarawak Minister for Women, Childhood, and Community Wellbeing Development Datuk Seri Fatimah Abdullah on behalf of Sarawak Premier Tan Sri Abang Johari Tun Openg. Fatimah expressed gratitude for Petronas' long-standing commitment to nurturing Sarawakian talent. 'The relationship between Petronas and Sarawak is deeply rooted, and their efforts reflect a strong understanding of human capital value,' she said. She added that the initiative supports Sarawak's Post-COVID Development Strategy, aiming for high-income status by 2030 through education and skills development. Petronas senior general manager Akmal Niza Ahmad highlighted the company's dedication to empowering future leaders. 'Through Powering Knowledge, we invest in diverse programmes to benefit Malaysians at all levels,' she said. Since 1975, Petronas has sponsored over 40,000 students nationwide, including more than 1,300 from Sarawak since 2003. – Bernama
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Daily Express
21-07-2025
- Business
- Daily Express
Sabah emerging as Malaysia's next frontier of O&G investment
Published on: Monday, July 21, 2025 Published on: Mon, Jul 21, 2025 Text Size: Clearer regulatory frameworks amid rising geopolitical risks are shifting upstream oil and gas investment toward Malaysia with Sabah offering a stable operating environment per analysts. Photo source: PETALING JAYA: Driven by investor-friendly policies and untapped reserves, Sabah is outranking Sarawak as a more appealing destination for foreign direct investment (FDI) in Malaysia's upstream Oil and Gas (O&G) sector, according to industry observers. Sabah is drawing increased interest from international oil companies as geopolitical instability in the Middle East shifts focus toward Malaysia's stable investment climate, said economist Samirul Ariff Othman, an adjunct lecturer at Universiti Teknologi Petronas. Advertisement 'The 2025 Iran-Israel conflict and escalating Red Sea tensions have driven up freight insurance and security costs while disrupting supply chains across the Middle East and North America,' he said, hinting that investors are looking for lower-risk and high-potential alternatives, with Southeast Asia, particularly Malaysia, emerging as a preferred destination. The Sabah advantage Samirul noted that Sabah is better positioned to capitalise on the shifting global investment trends, especially in terms of near-term foreign direct investment (FDI) inflows. "Currently, Sabah is attracting the strongest near-term FDI inflows, followed by Sarawak,' he said, citing that ConocoPhillips' strategic shift from Sarawak to Sabah indicates the untapped potential of North Borneo's deepwater blocks. Samirul also pointed out that while the Langkasuka basin off Peninsular Malaysia's west coast is generating investor interest, monetisation through commercial development may be slow due to the lack of existing pipelines and processing facilities, as compared to the more developed infrastructure found in other basins, including that of Sabah. 'With ongoing studies in Blocks SB409 and SB310, and Kota Belud's redevelopment, Sabah is set to gain momentum in the second half of 2025,' he said. Regulatory roadblocks in Sarawak Commenting on the competitive landscape in East Malaysia, Samirul observed that while Sarawak has strong LNG infrastructure and active basins such as the SK318 and SK408 gas blocks, regulatory uncertainty involving national oil company PETRONAS and the state-owned PETROS continues to undermine investor confidence. "The overlapping authority between state and federal regulators has created a legal and fiscal limbo at the same time. Investors want clarity, not confusion. Until we resolve these jurisdictional ambiguities, billion-dollar projects will remain stuck at the drawing board," Samirul cautioned. 'While Sarawak's state oil company PETROS has bolstered its role in managing upstream resources, overlapping jurisdictions have added ambiguity in fiscal split and licensing processes.' In May, the federal and Sarawak governments announced a high-level agreement granting PETROS a bigger role as the state's gas aggregator. However, both entities are still engaged in negotiations over legal frameworks, operational control, and commercial terms, with unresolved complexities still hampering progress. Echoing this, Dr. Tricia Yeoh, associate professor at University of Nottingham Malaysia, remarked that Prime Minister Anwar Ibrahim's announcement of a broad agreement reached in February this year with Sarawak Premier Abang Johari Openg did little to resolve the prolonged regulatory ambiguity. "With PETRONAS and PETROS still locked in legal proceedings over an RM8 million bank guarantee in addition to the lack of regulatory clarity, investor confidence remains questionable," she said, hoping that both parties should jointly withdraw the suit and establish a clear, forward-looking partnership. The good news is that there is one positive takeaway from the announcement - all existing PETRONAS contracts with third parties will remain honoured. "However, this assurance still comes short of resolving the broader ambiguities surrounding the Petronas-Petros relationship as the statement does not address Sarawak's claim to resources over 200 nautical miles of its territorial waters, for instance,' Yeoh said, referring to Anwar's speech in the Dewan Rakyat on Feb 17 and a media statement issued by Abang Johari the following day. Yeoh stressed that the federal government should clearly outline the conditions for exceptions or carve-outs granted to individual states. 'If the unclear and confusing situation drags on, it is not helping our national O&G development,' she warned, calling for a joint committee compromising legal, financial and technical representatives from the federal and state governments - to work out a solution. 'With a clear direction in place, the nation can then move forward constructively,' she said. Production Sharing Contract (PSC) By the same token, Samirul favours the idea of creating a more competitive environment through a clearly defined regulatory framework governing the Production Sharing Contract (PSC). "Faster PSC approvals and better regulatory clarity in East Malaysia is needed to sustain FDI momentum through 2026 and beyond," he emphasised. Nevertheless, he acknowledges that Malaysia's PSC remains regionally competitive as compared to that of Indonesia and Vietnam where operators enjoy relatively low oil and gas royalties i.e. 5% to the federal government and 5% to state government - out of a 10% split - with up to 70% of cost recovery. PETRONAS to strengthen partnership Despite regulatory friction, PETRONAS continues to fortify its global ties with energy giants like ConocoPhillips, TotalEnergies, Eni, and Idemitsu, including upstream joint ventures in Indonesia. Commenting this, Samirul said: 'With global upstream costs rising due to inflation, supply chain bottlenecks, and deeper offshore exploration needs, joint ventures have become an essential risk mitigation strategy." "By pooling resources, companies can distribute exploration costs, mitigate capital risk, and combine cutting-edge technologies to make ambitious projects more viable," he pointed this out, wishing for policy and legal frameworks to catch up with investor expectations. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
18-07-2025
- Business
- New Straits Times
Sabah emerges as Malaysia's strategic frontier for upstream O&G investment
KUALA LUMPUR: Amid intensifying global energy uncertainty, Sabah is fast emerging as a compelling destination for upstream oil and gas (O&G) investments. The state offers international players a stable, underexplored and increasingly investor-friendly environment, industry analysts said. The shift reflects broader regional realignments in upstream energy strategy, as geopolitical instability in traditional oil-producing regions pushes investors toward safer, high-potential frontiers especially in Southeast Asia, they added. Economist Samirul Ariff Othman, an adjunct lecturer at Universiti Teknologi Petronas, told FMT that Sabah had recently been attracting more international oil companies. This was spurred by instability in the Middle East and Malaysia's comparatively stable investment climate. "Presently, Sabah leads in near-term FDI flows, followed by Sarawak," he said. "The 2025 Iran-Israel skirmish and heightened Red Sea tensions have made freight insurance, security costs and supply stability in the Middle-East and North America increasingly uncertain. "Investors are looking for lower-risk (and) high-potential alternatives, and Southeast Asia fits that profile," the portal quoted him as saying. Sabah's Rising Profile in Deepwater Exploration According to Samirul, Sabah's underexplored deepwater blocks particularly Blocks SB409 and SB310 are drawing renewed attention, alongside the redevelopment of the Kota Belud field, which is expected to ramp up activity in the second half of 2025. Industry players have taken notice. ConocoPhillips' recent pivot away from Sarawak toward Sabah underscores growing confidence in the latter's upstream potential. While Sarawak continues to command significant attention due to its advanced LNG infrastructure and active gas blocks such as SK318 and SK408, analysts warn that lingering regulatory ambiguities are clouding investor sentiment. "The friction between Petronas and Sarawak's state oil company, Petros, has created uncertainty around fiscal terms and licensing processes," said Samirul. In May, federal and state authorities announced a framework granting Petros the role of gas aggregator in Sarawak. However, legal disputes and unclear operational boundaries between the two entities remain unresolved. Tricia Yeoh, associate professor at University of Nottingham Malaysia, told the portal that Prime Minister Datuk Seri Anwar Ibrahim's announcement of broad agreement reached in February this year with Sarawak Premier Tan Sri Abang Johari Openg had failed to clear the air sufficiently. "Neither statement addresses Sarawak's claim (to resources) over 200 nautical miles of territorial waters, so that remains at large," she said, referring to Anwar's speech in the Dewan Rakyat on Feb 17 and a media release issued by Abang Johari the following day. Regulatory clarity is still lacking, Yeoh said, adding that ongoing lawsuits, such as the RM8 million bank guarantee dispute, continue to cast a shadow. Malaysia's PSC Framework Still Competitive Samirul acknowledged that Malaysia's production-sharing contracts (PSCs) remain among the most attractive in the region, especially when compared to Indonesia and Vietnam. Under current terms, contractors pay five per cent royalty each to federal and state governments, after recovering 70 per cent of costs. However, he warned that delays in PSC approvals, combined with high royalty burdens for marginal fields, could dull Malaysia's competitiveness. "The fundamentals are strong but speed and predictability are everything in today's investment climate," he said. Yeoh echoed the sentiment, calling on Putrajaya to clarify the conditions under which states like Sabah and Sarawak may receive PSC carve-outs. "Dragging this issue for another year or 10 would severely damage Malaysia's upstream outlook," she cautioned. "As I have stated previously, there needs to be a joint Petronas-Petros committee (comprising lawyers, financial and technical representatives and members of the federal and state governments) that works out these details." Yeoh added that the joint committee should be given the space to deliberate in private until a consensus is reached after which the outcome should be made public. "The nation can then move forward constructively," she said. Stronger Petronas Future Despite local challenges, Petronas continues to bolster its global standing through strategic upstream partnerships with international oil majors such as Eni, TotalEnergies, Idemitsu and ConocoPhillips both within Malaysia and in regional plays like Indonesia. Joint ventures help Petronas hedge geopolitical and cost-related risks while gaining access to advanced technologies, particularly in deepwater exploration and carbon management, said Samirul. "With global upstream costs rising due to inflation, supply chain bottlenecks, and deeper offshore exploration needs, joint ventures are a rational de-risking strategy," he said. Samirul explained that shared equity spreads exploration costs, reduces capital exposure and allows partners to pool advanced technologies. These partnerships also allow Petronas to gain technical know-how from international oil majors experienced in carbon management and digital exploration and production, which supports its energy transition goals, he added.
The Sun
24-06-2025
- Business
- The Sun
Petronas urged to consider re-investing in Uzbekistan
TASHKENT: Petroliam Nasional Bhd (Petronas) has been urged to consider re-investing in Uzbekistan to boost the republic's oil and gas sector. Deputy Prime Minister Datuk Seri Fadillah Yusof said the Uzbekistan government had submitted an official request to Malaysia for Petronas to reconsider investing in the republic. 'They (Uzbekistan) expressed their desire for Petronas to be involved again in gas investments in Uzbekistan. I agreed to bring the request back to the Prime Minister (Datuk Seri Anwar Ibrahim) for consideration. 'I also discussed how we want to improve technical capabilities in the energy sector. That is why they (Uzbekistan) send a lot of students to universities in Malaysia, especially Universiti Teknologi Petronas and so on,' he said at a press conference, concluding a four-day working visit to the republic that began on Saturday. In mid-2013, Petronas withdrew from the production sharing agreements in the Ustyurt region and the Baysun Investment Block Development in the Surkhandarya region. In 2014, Petronas closed its representative office in Uzbekistan. Fadillah, who is also Energy Transition and Water Transformation Minister, said that during his meeting with Uzbekistan's Energy Minister Jurabek Mirzamakhmudov, the country also expressed its desire to establish a specialised university to produce more experts in the fields of electrical and renewable energy such as the Universiti Tenaga Nasional (Uniten). 'So we agreed to help them and we proposed Uniten as one of the models for them to implement it. Later, they will send their team to visit and see how to develop the curriculum and also how this expertise can be shared,' he added. The Uzbek government also proposed that more students from that country be given the opportunity to continue their studies at Universiti Teknologi Petronas, in line with efforts to strengthen bilateral cooperation in the field of education.
Barnama
20-06-2025
- Business
- Barnama
UTP Tops Private Universities In Malaysia, 251st Globally
IPOH, June 20 (Bernama) -- Universiti Teknologi Petronas (UTP) achieved its highest position in the QS World University Rankings 2026, rising 18 places to secure the 251st spot among 8,467 institutions evaluated globally. In a statement today, the university said it recorded gains across all indicators, with notable progress in Academic Reputation, Employer Reputation, Citations per Faculty, and Sustainability. "They also underscore the university's deep focus on industry-relevant research and talent development, cornerstones of its long-term roadmap. "UTP's close collaboration with Petronas and other industry partners continues to foster a dynamic ecosystem that bridges academic excellence with real-world application," the statement read. UTP president Ir Mohamed Firouz Asnan, as quoted in the statement, said the milestone affirms UTP's reputation among the world's top institutions and, more significantly, positions UTP as Malaysia's number one private university. He said UTP's continued ascent reflects its strategic vision to be at the forefront of technology education and research, enabling a better future for all. 'This achievement is a testament to the tireless efforts of our faculty, staff, and students, along with the strength of our partnerships with industry and academic institutions worldwide. It demonstrates our deep-rooted commitment to quality education, innovation, and global engagement. 'As we chart the next phase of UTP's journey, this global recognition strengthens our resolve to become not only Malaysia's leading university, but also a world-class, hyper-focused, cutting-edge engineering institution anchored in societal impact, sustainability, and industry-driven innovation," he said. According to Mohamed Firouz, the recognition comes at a pivotal moment for UTP as the university embarks on a transformation programme that introduces a new approach in educating its students as well as realigning its research focus to address the grand challenges faced by society.
