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    PETGAS   MYL6033OO004

PETRONAS GAS BERHAD

(PETGAS)
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PETRONAS Gas Berhad : Shell unit commits to renewable-powered Timi gas project offshore Malaysia

08/30/2021 | 05:52am EST
FILE PHOTO: The Royal Dutch Shell logo is seen at a Shell petrol station in London

(Reuters) - Royal Dutch Shell plc said on Monday its subsidiary Sarawak Shell Berhad (SSB) has taken a final investment decision on the Timi gas development project offshore Malaysia, which will powered by solar and wind sources.

The offshore wellhead project, developed with its partners Petronas Carigali and Brunei Energy Exploration, could see peak production of up to 50,000 barrels of oil equivalent per day (boe/d) and will move gas to the F23 production hub via an 80 kilometer-long pipeline, the company said in a release.

The unmanned platform, about 200 km (124 miles) off the coast of Serawak, was a step towards Shell's commitment to achieve net-zero emissions by 2050, Shell Upstream Director Wael Sawan said in the release.

(Reporting by Ashitha Shivaprasad in Bengaluru, Editing by Louise Heavens)


ę Reuters 2021
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Analyst Recommendations on PETRONAS GAS BERHAD
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Financials
Sales 2021 5 669 M 1 340 M 1 340 M
Net income 2021 2 051 M 485 M 485 M
Net cash 2021 339 M 80,1 M 80,1 M
P/E ratio 2021 16,2x
Yield 2021 4,79%
Capitalization 33 164 M 7 839 M 7 840 M
EV / Sales 2021 5,79x
EV / Sales 2022 5,67x
Nbr of Employees 1 829
Free-Float 26,3%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 16,76 MYR
Average target price 17,83 MYR
Spread / Average Target 6,41%
EPS Revisions
Managers and Directors
Abdul Aziz bin Othman Chief Executive Officer & Managing Director
Puan Shariza Sharis binti Mohd Yusof Chief Financial Officer
Adnan Zainal Abidin Chairman
Habibah binti Abdul Senior Independent Non-Executive Director
Abdul Razak Bin Abdul Majid Independent Non-Executive Director
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