Wata – Malaysian Oil and Gas Engineer

Taken from the Star, dateline 2010-10-26:

MALAYSIA’S oil, gas and energy sector is expected to register an annual growth of 5% from 2010 to 2020.

This ambitious goal will deliver RM131.4bil in terms of gross national income (GNI) by 2020, or doubled the current contribution. It will also create an additional 52,000 jobs.

To achieve this target set out under the Economic Transformation Programme (ETP), 12 entry point projects (EPPs) have been identified. The EPPs will generate RM47.1bil to GNI, while another RM61.2bil will come from business opportunities and baseline growth.

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Dateline 2010-10-04:

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Malaysian LNG exports are fairly stable and little changed from last year’s export levels of about 3 bcfd (Fig. 4). Deliveries originating in Malaysia have run 100 MMcfd short of last year’s (roughly one cargo per month), according to Waterborne Energy data for first-half 2010. The Department of Statistics of Malaysia, however, reports that through May of this year the country exported 3.6% more LNG than in the first 5 months of 2009. In the longer run—by 2014—Malaysia anticipates a shortfall of natural gas supply for domestic needs and is exploring the possibilities to build a regasification terminal. Supplies for the terminal will likely come from Gladstone LNG in Australia, the final investment decision for the first train of which is expected in second-half 2010.

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Taken from the Edge, dateline 2010-10-10:

Petroliam Nasional Bhd (Petronas) chalked up a nearly 60% growth in net profit to RM12.3 billion in 1QFY11 ended June 30 versus RM7.7 billion a year ago, thanks to higher crude oil prices and bigger sales volume.  

Revenue rose 26.3% to RM58.6 billion from RM46.4 billion in the previous corresponding quarter, while pre-tax profit surged 39% to RM21.4 billion from RM15.4 billion.

However, its CEO Datuk Shamsul Azhar Abbas said the outlook for the second half of FY11 ending March 31 was “less rosy” amidst the uncertainties over the global economy.

“The prospects for a sustainable global recovery in the short and medium term appear questionable,” he told the media when announcing Petronas’ 1QFY11 financial
results yesterday.

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And no, we’re not talking about Kerteh here.

Dateline 2010-10-05:

Mirians tired of the daily traffic jams along the road leading to Pujut 7 bridge can look forward to a solution to the problem in about two years from now.

The Works Ministry has approved a sum of RM120 million for a traffic flow improvement project.

Its minister Datuk Shaziman Abu Mansur announced the approval when observing the traffic congestion problem, particularly during peak hours, in the vital route linking the densely populated northern part of Miri, Pujut and beyond.

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Taken from the Star, dateline 2010-10-06:

While Petroliam Nasional Bhd (Petronas) looks set to see healthier earnings in its current financial year ending March 31, 2011, an anticipated slower global growth next year will weigh in on its performance.An area of concern highlighted by the national oil company during its first quarter results media briefing on Monday was the possibility of a double-dip recession and its repercussion on oil prices.

The global financial crisis experienced in 2008 and into 2009 saw downward pressure on the world economy, which consequently pulled down energy demand and prices.

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Petronas Gas Bhd was raised to “buy” from “hold” at Maybank Investment Bank Bhd, which said the natural gas distributor is a major beneficiary as Malaysia liberalizes its gas supply and prices.

The share-price estimate was increased to RM12.80 from RM10.40, Andrew Lee, an analyst at Maybank Investment, said in a report today.

IDR, JCorp and Khazanah, take note on how you spend my tax money.

From the Star, dateline 2010-10-09:

Johor wants the Federal Government to lead the way in developing Johor’s southeast areas of Teluk Ramunia and Pengerang into a new oil and gas (O&G) hub in the region.

A senior official with the State Economic Planning Unit (Upen), who declined to be identified, has proposed that a federal level unit be set up to oversee and facilitate the implementation of the plan to ensure the project would be on the right track. He said it was important to have such a unit involved in the development of the country’s O&G hub projects and related activities as there was none at the moment.

He added that the central unit would coordinate in the planning of the hub, including putting infrastructure facilities such as water, power, telecommunications, connectivity, logistics and giving incentives to investors.

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Is this the SOGT whose design & construction contracts has been open to all sorts of accusations, least of which is incompetence?

From the Business Times, dateline 2010-08-31:

Samsung Engineering will build an oil and gas terminal in Sabah to produce 300,000 barrels of oil and 1.25 billion cubic feet of gas per day

PETRONAS Carigali Sdn Bhd (6033) has awarded a US$770 million (RM2.4 billion) contract to Samsung Engineering to build an oil and gas terminal in Sabah.

The plant, which will produce 300,000 barrels of oil and 1.25 billion cubic feet of gas per day, will account for 40 per cent of Malaysia’s crude oil production.

Samsung Engineering president and chief executive officer Park Ki-Seok said the contract reflects the company’s excellent project performance and the clients’ trust in the hydrocarbon plant sector.

“With expanding market share in the GOSP (gas oil separation plant) field and about US$50 billion (RM157 billion) invested annually, we plan to continue our drive to diversify our market and products in all upstream hydrocarbon fields such as offshore projects,” Park said in a statement.

For the Sabah project, Samsung Engineering will lead the engineering, procurement, construction and commissioning work with local partner NCSB Engineering.

The plant is expected to be mechanically completed in December 2013.

Dateline 2010-08-26, taken from Officialwire:

The latest Malaysia Oil & Gas Report from BMI forecasts that the country will account for 1.78% of Asia Pacific regional oil demand by 2014, providing 8.50% of supply.

Regional oil use of 21.42mn b/d in 2001 is set to reach a forecast 27.15mn b/d in 2010, then to rise to around 30.21mn b/d by 2014.

Regional oil production was around 8.35mn b/d in 2001 and is forecast to average an estimated 8.82mn b/d in 2010. It is set to increase only slightly to 8.89mn b/d by 2014.

Oil imports are growing rapidly, because demand growth is outstripping the pace of supply expansion. In 2001 the region was importing an average 13.07mn b/d. This total will rise to a projected 18.32mn b/d in 2010 and is forecast to reach 21.32mn b/d by 2014. The principal importers will be China, Japan, India and South Korea. By 2014 the only net exporter will be Malaysia.