Paltry federal contribution

January 1, 2017

Dateline 2016-11-26, Borneo Post:

…

“Foremost in our mind, critical in our pursuit to conserve depletable natural resources, is the petroleum justice that we owe it to ourselves, to Sarawak, and to our future generations to strategically conserve and utitlise it in the best interests of Sarawak.”

See said Sarawak, on shore and offshore, had been demarcated into 48 blocks or fields of oil and gas potentials.

Through the years, he said production sharing contracts (PSC) had been awarded over 27 of these fields, and 13 others were presently been promoted this year and the last.

“It is imperative for us to revivify Sarawak’s sovereign rights to this valuable natural resource, to assert our autonomy and authority over the remaining blocks and fields of oil and gas potentials yet to be awarded with PSC.”

He opined that Sarawak had sacrificed too much of its petroleum resources to the federation.

…

Leave a Comment » | Malaysia | Tagged: | Permalink
Posted by Wata

State, PETRONAS working on Petrochemical Master Plan

December 31, 2016

Dateline 2016-11-25, Borneo Post:

THE Sarawak government and Petronas are currently undertaking the Sarawak Petrochemical Master Plan study covering the coastal areas of the state.

Assistant Minister of Industrial Development (Investment and Promotion) Datuk Julaihi Narawi said the study will look into the technical, commercial and economic feasibility of the petrochemical development in Sarawak.

“Among others, the study is expected to identify and recommend the suitable oil and gas downstream industries that the state can explore,” he said yesterday in his reply to Aidel Lariwoo (BN – Sadong Jaya) and Ripin Lamat (BN – Lambir) during the question and answer session at the State Legislative Assembly yesterday.

He said currently 100 per cent of oil resources and 93 per cent of gas resources are exported in raw form such as crude oil and liquefied natural gas (LPG).

“It is the intention of the state government to establish a robust downstream industry to increase participation in the higher value chain and thus creating a more sustainable industry for the state amidst the declining resources.

…

 

Leave a Comment » | Malaysia | Tagged: , , | Permalink
Posted by Wata

Oil Becoming Code for Sovereignty in Contested South China Sea

December 30, 2016

Dateline 2016-11-23, Voice of America Khmer edition (what hey?):

The search for oil and natural gas is seen as a driving factor in rival claims to the South China Sea, with many of the countries in the region currently reliant largely on fuel imports.

Yet no one has struck a head-turning deposit of oil or gas in the 3.5-million-square-km (1.4-square-mile) sea, which stretches from Taiwan to Singapore, despite prospecting since 1970.

Analysts who follow the South China Sea disputes point to national sovereignty as a top reason that countries are exploring for oil and gas. Brunei, China, Malaysia and Vietnam do their own prospecting. The Philippine government accepted exploration bids in 2014 from private companies.

…

 

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Bintulu boy Pau on cloud nine atop MLNG

December 29, 2016

Dateline 2016-11-21, Borneo Post:

A Bintulu boy has been leading Malaysia LNG Group of Companies (MLNG) since last April.

For Pau Kiew Huai, pushing an ageing plant to produce a world-class performance is a massive challenge for Petronas subsidiary MLNG, which manages and operates the Petronas LNG Complex (PLC).

But sustaining the company’s financial performance under the duress of a prolonged oil and LNG price slump is something Pau Kiew Huai and his 1,500-strong team must deliver.

When Pau was appointed to the post, the global oil price was below USD30 per barrel. Hence, it was an appointment very few people would envy.

But Pau viewed the challenges as opportunities to prove that the impossible is possible.

His experience as an engineer at MLNG will come in handy. It taught him to be self reliant, disciplined and committed.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Marketing Rounds – Sandakan Bay

December 28, 2016

IGL has moved sideways slightly, and is now pivoting so fast they have installed wind generators next door.

Leave a Comment » | Malaysia, Safety | Tagged: , | Permalink
Posted by Wata

State to develop specialised ventures in O&G industry

December 27, 2016

Dateline 2016-11-19, Borneo Post:

The state is set to embark on specialised global venture to enhance the development of downstream and upstream activities of the Oil and Gas (O&G) Industry in Sarawak

Minister for Industrial and Entrepreneur Development, Trade and Investment Datuk Amar Awang Tengah Ali Hassan stressed that the state is open to work closely with companies like BCS Contract and Supply Services Sdn Bhd (BCS) and SFS Aviation Co Ltd (SFS) in ensuring that these strategic ventures are on the right path to become a long-term win-win synergy with the state.

The intention is also in line with Sarawak Oil and Gas Committee (SOGC) and Sarawak Oil and Gas Development Unit (SOGDU) initiatives, he pointed out.

…

 

Leave a Comment » | Malaysia, oil and gas | Tagged: , , , | Permalink
Posted by Wata

Saturday Star 2016-12-24 – Job Opportunities

December 26, 2016

Happy Westworld binge week.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now. I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for a mech inspector, for a job in China. If you are in between jobs, contact me. As always, there will be a serious pay cut.
  • I’m looking for jobs for 1Q2017. Send me your POs.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? I would suggest visiting Sudu & Garpu, SS15.

Seeing that Joe Dever has passed away, you may want to revisit his books:

Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

World’s first FLNG project starts off Malaysia

December 25, 2016

Dateline 2016-11-17, OE:

Malaysia’s Petronas has achieved first gas from its first floating liquefied natural gas (FLNG) facility, PFLNG SATU earlier this week (14 November) from the Kanowit gas field, offshore Sarawak.

Image of the PFLNG SATU, from Petronas.

The introduction of gas from the KAKG-A central processing platform at the field ignited the PFLNG SATU flare tower at the height of 130m, proving the technological aspirations of Petronas to unlock gas reserves in Malaysia’s remote and stranded gas fields, the company said in a statement.

PFLNG SATU made its 2120 nm journey from Okpo, South Korea to the Kanowit gas field on 14 May 2016 for its offshore phase of commissioning, which Petronas anticipates will soon progress towards commercial operations and first cargo.

The PFLNG SATU, fitted with an external turret for water depths of between 70-200m deep, will extract natural gas via a flexible subsea pipeline for the liquefaction, production, storage and offloading processes of LNG at the offshore gas field.

“We have come a long way with our partners to deliver a game changer in the global LNG business. The shared vision for PFLNG SATU to monetise gas resources uneconomical to develop via conventional means is an achievement all can be proud of,” said Adnan Zainal Abidin, Petronas acting VP LNG assets, development and production said.

…

 

Leave a Comment » | Malaysia, oil and gas | Tagged: , , , , | Permalink
Posted by Wata

Tabung Haji slams attempt to link THHE financial performance to MACC arrest

December 24, 2016

Dateline 2016-11-18, NST:

Lembaga Tabung Haji (TH) has reiterated that it will not compromise on corruption, misappropriation and abuse of power.

Such matters, said TH, are viewed seriously, with the company constantly taking steps to enhance its corporate governance and good business practices measures in its operations.

Should such issues arise, TH will extend its fullest cooperation to the relevant authorities, it said.

“On the matter of the allegation linking business challenges faced by TH Heavy Engineering (THHE) to the recent arrest of the former CEO of the company, we believe this is clearly misleading and an attempt to confuse the public,” it said in a statement today.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Petronas’ net profit soars on lower impairment losses, other factors

December 23, 2016

Dateline 2016-11-16, The Star:

Petroliam Nasional Bhd’s (Petronas) net profit more than tripled (+349%) year-on-year (y-o-y) to RM6.07bil for the third quarter ended Sept 30, 2016, despite a 19% fall in revenue to RM48.74bil.

This was attributed to a much lower net impairment on assets of RM395mil compared with RM5.43bil a year earlier as well as lower product and production costs, favourable foreign exchange rate and lower well costs.

Announcing its interim financial report on its website on Wednesday, the national oil company said that sales volumes of both petroleum products and crude oil declined y-o-y (by 3% and 1% respectively) during the quarter.

For the nine-month financial period, however, Petronas’ net profit was almost halved (-49%) to RM12.25bil on 22% lower revenue of RM146.31bil.

…

 

Leave a Comment » | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

« Previous Entries
Next Entries »