From The Borneo Post – Marginal oil fields a boon for local O&G sector

February 8, 2011

Dateline 2011-02-05:

The award development and production contracts to local players is a game changer for local oil and gas (O&G) service providers as this is the first time local players have been invited to participate.

UOB Kay Hian (Malaysia) Holdings Sdn Bhd (UOB Kay Hian) in its report pointed out that newsflow on this sector would be forthcoming and would act as a near term catalyst for a sector-wide re-rating. This move was intended to groom and moved local O&G players up the value chain.

To recap, Petronas had awarded a risk sharing contract (RSC) to develop and produce the Berantai field to a joint operating party (JOP) formed by a tripartite.

Petrofac Energy Development, a London-listed O&G exploration and production (E&P) company would take a 50 per cent stake, while SapuraCrest Petroleum Bhd (SapuraCrest ) and Kencana Petroleum Bhd (Kencana) would each have a 25 per cent equity participation in the JOP.

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Saturday Star 2011-02-05 – Job Opportunities

February 7, 2011

Support me by purchasing my recommendations, or buying through my Amazon store.

First off, if you need my help to submit your CVs, donate to the blog, and I’ll review your CV to see if it is worthy of my (and my associates’) expectations. If you can’t figure out how to donate, no need to ask.

And there were no adverts last week.

The following books have an interesting way of presenting history. Don’t let the word ‘cartoon’ fool you, there is a lot of reading in this set. Cartoon History of the Universe 1 Vol. 1-7 (Cartoon History of the Universe) (Pt.1), The Cartoon History of the Universe II, Volumes 8-13: From the Springtime of China to the Fall of Rome (Pt.2), The Cartoon History of the Universe III: From the Rise of Arabia to the Renaissance

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From Bernama – SapuraCrest, Kencana & Petrofac To Develop Berantai Field

February 6, 2011

Where the heck is Berantai? I know it’s off the Peninsular East Coast, but anyone has coordinates?

Dateline 2011-01-31:

SapuraCrest Petroleum Bhd’s subsidiary Sapura Energy Ventures Sdn Bhd today entered into a Risk Service Contract (RSC) with Kencana Energy Sdn Bhd and Petrofac Energy Developments Sdn Bhd to jointly develop and operate in the production of petroleum resources from the Berantai field.

Under the agreement, the operating parties would provide one well-head platform with 18 wells, together with related pipeline linking it to another existing platform as well as provide for a floating production, storage and off-loading vessel (FPSO).

A second well-head platform would be installed in a subsequent phase.

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From the Star – Technip-Daewoo group wins PETRONAS contract

February 5, 2011

We hope there is some spillover to the little guys.

Dateline 2011-02-02:

Petroliam Nasional Bhd (Petronas) and its unit, MISC Bhd, have awarded a foreign consortium consisting of French-based Technip SA and South Korean Daewoo Shipbuilding & Marine Engineering Co Ltd a key engineering contract for a floating liquefied natural gas (FLNG) unit in Malaysia.

Technip said in a statement issued via its website that the contract involved front-end engineering and design (FEED) for a FLNG unit with annual capacity of one million tonnes.

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You can subscribe to an online version of the paper at the e-browse site.

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Mustang Establishes Malaysian JV Company with Sime Darby

February 4, 2011

Dateline 2011-01-26:

Mustang, a Wood Group Company, and Sime Darby’s Energy & Utilities Division have entered into a joint-venture to form a new company called Mustang Sime Darby.

The new company will provide project management, design and procurement support services for the Southeast Asian oil & gas industry from its regional hub in Kuala Lumpur and expand Mustang’s global presence in the Southeast Asia region.

Sime Darby Energy & Utilities is part of the Sime Darby Group, a major Malaysian conglomerate with businesses serving the plantation, industrial, automotive, property, energy & utilities and healthcare industries throughout Asia. Sime Darby Energy & Utilities’ core businesses are oil & gas, engineering services, water management, ports & logistics, and power. It has a global workforce of over 6,000 people throughout Malaysia, Singapore, Thailand, China and Qatar.

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From the Edge – Ranhill subsidiary has lion share of RM1.07b Petronas Gas job

February 3, 2011

Dateline 2011-01-27:

RANHILL BHD has said its subsidiary Ranhill WorleyParsons Sdn Bhd has a 70% stake in the consortium with MUHIBBAH ENGINEERING (M) BHD that secured the RM1.07 billion contract from PETRONAS GAS BHD, making it the major beneficiary.

The consortium was awarded the engineering, procurement, CONSTRUCTION, installation and commissioning for the LNG regasification unit, berth and subsea pipeline.

Ranhill said on Thursday, Jan 27 that Ranhill WorleyParsons is its 51%-owned subsidiary.

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From the Star – Ramunia Gears Up for O&G

February 2, 2011

Dateline 2011-01-27:

With the prospects of oil and gas (O&G) sector improving, it is not surprising that Ramunia Holdings Bhd would intensify its efforts to broaden business opportunities.

The acquisition of the Pulau Indah Integrated Fabrication Yard for RM83.8mil from Oilcorp Bhd is a strategic move to enable it to participate in the various O&G contracts under the Economic Transformation Programme (ETP).

“Ramunia is definitely a keen player in the O&G sector, considering its recent corporate moves,” an analyst said.

The company, which specialises in the fabrication of offshore O&G-related structures for major oil players in the world, had also confirmed that it was in preliminary talks to buy a stake in Syarikat Borcos Shipping Sdn Bhd.

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You can subscribe to an online version of the paper at the e-browse site.

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From Bernama – Mukhriz Urges PETRONAS To Assist Government More With Bumi Entrepreneurs

February 1, 2011

Dateline 2011-01-28:

Petronas must intensify its efforts to nurture ever more successful local entrepreneurs in line with the government’s plans to support and create a vibrant small and medium enterprise (SME) sector.

Making this call, International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir said Petronas currently helped technology intensive SMEs by awarding contracts and opening the doors to overseas markets.

“In the same vein, Bumiputera hi-tech SMEs are now able to compete based on technological merit. However, these companies need capital and market access, to put it plainly.

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