| Azaraimy HH |
TOTAL E&P Borneo BV held a ceremony to commemorate its 25th anniversary at the Total Onshore Processing Plant in Lumut yesterday.
The ceremony was also held to celebrate the operation of the Maharaja Lela South platform which served as a significant achievement for both the company and the oil and gas industry in Brunei.
The event was officiated by Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, Minister of Energy and Industry at the Prime Minister’s Office.
Also present were Loan Forgeron, French Ambassador to Brunei Darussalam, and representatives of Block B partners.
Olivier de Langavant, Senior Vice President of Total Asia Pacific, during the event highlighted the new environment facing the oil and gas sector.
Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, Minister of Energy and Industry at the Prime Minister’s Office during a site tour at Total Onshore Processing Plant, Lumut.
“In a few months the barrel lost 50 per cent of its value. This major price crisis challenges our strategy, our projects, the way we work”, he said. “It challenges all our assets because it is much harder for them to bring a good return on equity.”
“This situation can last for a long time,” he said. “The industry can’t wait for the price to rise again, we have to react. The purpose of an oil company is to get as much added value as possible from its assets.”
He noted three principles in their strategy. First one being a high ambition for safety, where he said that it is not only the company’s priority; it is the core value of the group.
The second principle he mentioned was to increase the company’s operational excellence by operating facilities with high availability and good maintenance while the third principle was to reduce the cost of operations to capture margin in a low price market.
Total employees at the celebration yesterday. – PHOTOS: AZARAIMY HH
“When the environment is low, cost reduction is the only way to prepare a sustainable future. We have to perform more than before,” he said. “Total in Brunei is a good example of this strategy. Our safety rules are implemented without compromise. Safety and efficiency work together, as our current drilling operations shows.”
In Brunei, no injury has been recorded for 17 years. It is an excellent result and he congratulated the teams. He also highlighted the significant progress in the production.
“Production on Block B has totaled to around 15M BOE (barrel of oil equivalent) per year thanks to the investments made by the partners,” he stated. “The company also has to go further by reducing unwanted shutdowns, both offshore and onshore, and by maintaining a strong discipline in operations and maintenance.”
He also highlighted the good results in regard to cost efficiency. He said the project at Maharajah Lela South was an industrial success.
“This is true for the design of the new MLJ3 platform. For the debottlenecking of the OPP plant, for the deep and high pressure / temperature wells we are drilling now,” he said. “In all these fields the technological know-how of our teams, including partners and contractors, has made the difference.”
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