December 29, 2011
Dateline 2011-12-23:
Petronas is in talks with several global oil majors including Shell (RDSa.L) and Exxon Mobil (XOM.N) to develop petrochemical plants within its $20 billion refinery complex in southern Malaysia, two sources with direct knowledge of the matter said.
Malaysia’s national oil company is also talking to Japanese firms Itochu Corp (8001.T) and Mitsubishi Corp (8058.T) as well as to Dow Chemical Co (DOW.N) — the largest U.S. chemical maker — as it seeks to tap surging Asian demand and diversify its earnings, the sources told Reuters
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Leave a Comment » | 
Chemical, investment, Malaysia | Tagged: ExxonMobil, Petronas, Shell | 
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Posted by Wata
November 24, 2011
I’m sorry, 53 jobs?
Dateline 2011-11-10:
BC Petroleum Sdn Bhd will invest up to RM2.55 billion in the small field risk service project of the Balai Cluster Field, offshore Sarawak.
The project, which will be carried out in two phases, is awarded by Petronas.
BC Petroleum is a joint-venture company between Roc Oil Malaysia (Holdings) Sdn Bhd, Dialog D&P Sdn Bhd and Petronas Carigali Sdn Bhd.
The project is projected to contribute RM4.95 billion to the country’s gross national income (GNI) and create 53 jobs by 2020.
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Leave a Comment » | engineering, investment, Malaysia, oil and gas | Tagged: Balai, BC Petroleum, Dialog, PCSB, Petronas, Roc Oil | Permalink
Posted by Wata
November 20, 2011
Dateline 2011-11-06:
IN the face of persistent economic volatility, Malaysians seem to be constantly tightening their fiscal purse strings even as costs of basic necessities soar ever higher with no end in sight.
Under these current conditions, few people in their right minds would set their pay cheques on fire or flush the contents of their wallets down the toilet.
Yet, as consumers, we are figuratively casting millions of our hard-earned ringgit to the wind every year without realising it’s due to wasteful energy consumption habits and energy inefficient household appliances
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Leave a Comment » | engineering, investment, Malaysia, oil and gas | Tagged: Borneo Post | Permalink
Posted by Wata
November 18, 2011
Have you renewed your PETRONAS license recently? There’s been a change which seems to me shouts out ‘grow big or go home,’ and now shuts out small companies from bidding for multi-disciplinary engineering work.
From my point of view, there are two Standardised Work and Equipment Categories (SWEC) categories you need to be registered under to get the above work:
- SE201010000 – ENG. DESIGN, ARCH. & DRAUGHTING SERVICES -Engineering Design- Conceptual Engineering Design/FEED
- SE201020000 – ENG. DESIGN, ARCH. & DRAUGHTING SERVICES -Engineering Design- Detailed Design
However, the Minimum Technical Requirements (MTR) are so onerous that you can’t get these categories if you are small and don’t have a multidisciplinary team in your company (us small companies have tie-ups that would be technically capable of executing projects of the appropriate size, but we don’t have a single vehicle that would meet the requirements below).
What do you think? Are you affected by this change?
C’mon PETRONAS, lighten up.
Leave a Comment » | business opportunity, engineering, investment, Malaysia, oil and gas | Tagged: MTR, Petronas, SWEC | Permalink
Posted by Wata
November 13, 2011
Dateline 2011-11-02:
At the launch of the Global Incentives for Trading (GIFT) programme and the newly-formed Labuan International Trading Commodity Company (LITC), the Director-General of Labuan Financial Services Authority (FSA) Encik Ahmad Hizzad Baharuddin announced that a range of incentives have been initiated to attract oil and gas traders to Malaysia.
The new scheme will be operated by the LITC out of Labuan International Business and Financial Centre (IBFC), and is intended to diversify further the products and services of Malaysian’s financial services sector.
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Leave a Comment » | engineering, investment | Tagged: GIFT, IBFC, Labuan, LITC | Permalink
Posted by Wata
November 9, 2011
Dateline 2010-10-25:
Hibiscus Petroleum Bhd, Malaysia’s first listed special-purpose acquisition company (SPAC), will acquire a 35 per cent equity in Lime Petroleum Plc (Lime) for US$55 million.
Its managing director, Dr Kenneth Pereira, said with the acquisition, Hibiscus is likely to enter the growth phase in the next financial year ending March 2013.
Under the proposed acquisition, Hibiscus’ role is to execute the work programme and manage the budget as well as activities for the current and future concessions of Lime, he told a press conference here today.
Pereira said the proposed acquisition comprised a share subscription agreement and a share purchase agreement, involving a 27.2 per cent stake in Lime for US$50 million and 7.8 per cent stake in Lime from Rex Oil and Gas Ltd for US$5 million.
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Leave a Comment » | engineering, investment, Malaysia | Tagged: Hibiscus Petroleum | Permalink
Posted by Wata
July 17, 2011
Change ‘shouldn’t’ to ‘will pay triple for to’, remove the subsidies altogether, create a zippy (doesn’t have to be efficient) public transport network, and I’ll be happier
Dateline 2011-07-02:
A cleverly-crafted fund raising exercise, offshore oil and gas services provider Bumi Armada Bhd’s initial public offering (IPO) has created an “artificially high demand” for the company’s shares amongst institutional investors in lieu of its flotation onto the Main Market of Bursa Malaysia this month, analysts and market observes say.
Market talk has been rife that Bumi Armada’s IPO has garnered strong interest from foreign and local institutional investors, with sources disclosing that the company saw its institutional offer 5.6 times oversubscribed on the first day its bookbuilding exercise, which had commenced on June 28 and is scheduled to close next Friday before the institutional price is determined on July 11.
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You can subscribe to an online version of the paper at the e-browse site. The site technology is a bit out of date. You have to use IE7-8 to pay for a subscription, and there is no app. How will I be able to read The Star on my Nokia N95?
Leave a Comment » | business opportunity, investment, Malaysia, oil and gas | Permalink
Posted by Wata
April 28, 2011
Dateline 2011-04-23:
Malaysia Marine and Heavy Engineering Bhd (MMHE) is believed to be looking at taking over some or all of the oil and gas assets of conglomerate Sime Darby Bhd , The Edge weekly newspaper reported on Saturday.
The report said MMHE, the heavy engineering unit of Malaysia’s state oil firm Petronas , has been evaluating the assets for the past several months but that the plan was still in the preliminary stage.
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Leave a Comment » | business opportunity, investment, Malaysia | Tagged: MMHE, Petronas | Permalink
Posted by Wata
April 22, 2011
Dateline 2011-04-13:
The Government will soon establish the Malaysia Petroleum Resource Corp (MPRC) to spur the development of the country’s oil and gas sector.
MPRC interim chief executive officer Dr Shahreen Madros said Prime Minister Datuk Seri Najib Tun Razak would announce details of the agency soon.
“We are looking at human capital requirement, marketing portion and how we can promote the industry further,” he told reporters.
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You can subscribe to an online version of the paper at the e-browse site.
Leave a Comment » | business opportunity, investment, Malaysia, oil and gas | Permalink
Posted by Wata
April 14, 2011
Does MHS feel challenged by other comers into the offshore O&G aviation transport market?
Dateline 2011-03-28:
KUALA LUMPUR: Boustead Holdings Bhd will buy a 51% stake in helicopter and aircraft charter services provider MHS Aviation Bhd for RM100mil in an effort to strengthen its involvement in the oil and gas industry.
In a Bursa Malaysia filing today, Boustead said that it wants to buy 10.2mil shares of RM1 each in MHS Aviation as it entered into a conditional sale and purchase agreement with DRIR Equities Sdn Bhdand Tulus Sejagat Sdn Bhd.
“Petronas Carigali Sdn Bhd has awarded a contract to MHS on August 20 last year to provide rotary wing aircraft, equipment and services (for heavy type aircraft- EC225) for ten years with an option for another five years commencing April 1 this year to March 31 2021,” it said.
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You can subscribe to an online version of the paper at the e-browse site.
Leave a Comment » | investment, Malaysia | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 