Petra Energy, Baker Hughes ink O&G pact

April 22, 2012

Dateline 2012-04-08:

Integrated oil & gas brown field services provider, Petra Energy Bhd, and high performance drillng services firm, Baker Hughes (M) Sdn Bhd, have entered into a memorandum of understanding (MoU) to undertake oil & gas (O&G) projects in Malaysia.

Under the terms of the MoU, both companies will co-operate to provide capability development services, including deploying their respective expertise and knowledge, for oil & gas project operators in Malaysia, Petra Energy said in a statement today.

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Petronas to cut dividend to govt

April 20, 2012

Dateline 2012-04-08:

Petroliam Nasional Bhd, Malaysia’s state oil company, plans to lower its annual dividend paid to the government to RM28 billion (US$9.2 billion) this year as it holds onto cash to help reverse a production slump.

“We need to grow,” Shamsul Azhar Abbas, the group’s chief executive officer, said in an interview in Kuala Lumpur on March 30. “Energy reserve is not finite, it will deplete. You can’t be sucking us dry.”

Petroliam Nasional, which manages all the Southeast Asian nation’s energy reserves, is the biggest single contributor to government revenue, having paid RM30 billion in dividends for each of the past three financial years. Shamsul, who took over as CEO in 2010, wants to retain more of the company’s profits to invest in exploration after seeing Malaysia’s oil and gas production fall for three straight years

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OSV players face stiff competition

April 18, 2012

Does this mean I should plan my offshore work now? Do I get discounts, charter one vessel, get a DSV free?

Dateline 2012-03-29:

That national oil company Petroliam Nasional Bhd (Petronas) and other oil majors are planning significant spending was seen as a great boon for local oil and gas (O&G) support services providers.

But this may not translate into an immediate windfall for domestic offshore support vessel (OSV) operators given the intensifying competition, particularly from foreign players, said the newly formed Malaysia OSV Owners Association (OSV Malaysia).

OSV Malaysia president Tasripin Masotee said local OSV players are unable to offer competitive rates because they do not enjoy the tax benefits granted to Malaysian merchant shippers. These include tax exemptions for spare parts, lower corporate tax and no personal taxes for crew members.

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Malaysia’s Petronas, Total sign HOA on development of offshore sour gas field

April 17, 2012

Dateline 2012-03-28:

Malaysia’s Petronas and Total of France have signed a heads of agreement to jointly study the development and production of a high carbon dioxide gas field offshore Sarawak in eastern Malaysia, the state-owned oil and gas company said Wednesday.
The K5 gas field, discovered in 1970, is a sour gas field with an up to 70% carbon dioxide content. To develop and produce such a field requires extensive study and research, and if it results in the production of gas, K5 would be the first gas field with more than 50% carbon dioxide to be developed in Malaysia, Petronas said.

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Idris Jala: Malaysia has to cut reliance on O&G

April 14, 2012

Dateline 2012-03-27:

Pemandu CEO Datuk Seri Idris Jala has acknowledged the government’s “heavy” dependency on oil and gas (O&G) revenues and said that it needs to diversify its income streams.

This comes as the World Bank warned last November that Malaysia is too dependent on fossil fuel revenues, with its non-oil primary deficit having doubled in the last five years to almost 20 per cent of GDP.

The windfall from petroleum has also bolstered government coffers to the point that the World Bank noted in 2009 that non-oil revenues are insufficient to finance government operational expenditure.

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Sabah-S’wak gas pipeline in final phase

April 12, 2012

Dateline 2012-03-25:

The Sabah-Sarawak Gas Pipeline (SSGP) project is now in its final phase with 85 per cent already completed

The massive multi-billion ringgit infrastructure project is expected to be ready by the first quarter of next year.

“We estimate the gas to start flowing by April next year if everything goes as planned,” SSGP senior project manager Shaiful Bahrin Hashim said during a media briefing at the SSGP Camp 5 in Long Bedian recently.

“The length of the pipeline is 94km in Sabah and 427km in Sarawak, and involves more than 3,000 workers, half of whom were recruited from local people.”

The other seven SSGP camps along the 521km route are Camp 1 Beaufort, Sabah; Camp 2, Lawas; Camp 3, Merarap; Camp 4, Limbang; Camp 6, Long Lapok; Camp 7, Niah; and Camp 8, Bintulu.

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Energy sector to play a bigger role

April 10, 2012

Dateline 2012-04-03:

ACCOUNTING For about 20% of gross domestic product (GDP), energy is an important factor in the country’s economic growth.

The Government plans to increase diversification of the energy industry, step up exploration for new oil and gas resources, enhance production from known reserves, and encourage the use of alternative energy sources.

Energy, Green Technology and Water Minister Datuk Seri Peter Chin said that the energy sector’s contribution to the gross national income (GNI) was expected to rise from RM110bil in 2009 to RM241bil in 2020.

The oil, gas and energy (OGE) National Key Economic Area (NKEA) is targeting 5% annual growth for the sector from 2010 to 2020. The OGE NKEA would focus on four key thrusts: sustaining oil and gas production, enhancing downstream growth, making Malaysia the number one Asian hub for oil field services and building a sustainable energy platform for growth.

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Petronas To Award Additional Licenses To Develop Marginal Fields

April 8, 2012

Dateline 2012-04-02:

Petroliam Nasional Bhd (Petronas) will be awarding additional licences this year to develop marginal fields to bolster crude oil and gas production to further stimulate growth in the Oil, Gas and Energy sector.

The additional licenses would also support to maintain production at 650,000 barrels per day, the Performance Management & Delivery Unit (Pemandu) said in the Economic Transformation Programme Annual Report 2011 released today.

This move to develop small fields through innovative solutions is part of the entry point projects (EPPs) in the Oil, Gas and Energy (OGE) industry under the National Key Economic Areas (NKEA).

Having passed the Petroleum Income Tax Act last year to introduce new tax incentives for the oil and gas sector to unlock and monetise stranded O&G resources, the Act would be utilised to incentivise new players to enter the marginal field development segment, the report said.

Among licenses awarded in 2011 were risk service contracts to Sapura Kencana Petroleum Bhd and Petrofac Energy Developments Sdn Bhd.

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Coca-Cola Freestyle

April 5, 2012

Sugar and caffeine – an engineer’s basic food group.

When may we seen one of these machines here? Coca-cola, line me up for a contract! An endorsement wouldn’t be bad as well.

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Saturday Star 2012-03-31 – Job Opportunities

April 2, 2012

Support me by purchasing my recommendations, or buying through my Amazon store. I need the money to pay for running this site. Corporate level sponsors are encouraged.

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.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here . Also looking for process safety persons, lead piping designer, lead instrument engineer, and other seniors you think will catch my eye.

 

May I suggest that readers install the Waze app on their phones? And use it as much as possible? It says its a “a social mobile application providing free turn-by-turn navigation based on the live conditions of the road. 100% powered by users, the more you drive, the better it gets. Join the community of drivers in your area today!” It’s definitely getting better for the Klang Valley area, though we need more users from East Malaysia.

Support your local bookshop! Visit Bookalicious at The Summit Subang, good selection of imported books. I think they focus on trilogies, quadrilogies, and otherologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Maybe I should say that next time I visit them. Those of you who have dropped my name, thanks!

BTW, did I tell you that I am the Secretary of MOGEC?

For those of you who have a healthy skepticism to my industry, these books are for you:

  

Why We Hate the Oil Companies: Straight Talk from an Energy Insider, The Party’s Over: Oil, War and the Fate of Industrial Societies, Barbarians of Oil: How the World’s Oil Addiction Threatens Global Prosperity and Four Investments to Protect Your Wealth (Agora Series)

This week’s food promotion is … masak asam pedas. If you find nice places around PJ, let me know. I’ve tried the one across from the PJ State Police Station, and the shop next to Dewan MPSJ in PJ State.

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