Better performance expected in 2H for Malaysia O&G sector

September 21, 2014

Dateline 2014-07-07, Borneo Post:

Oil and gas (O&G) companies in Malaysia will continue to see excitement ahead in the second half of 2014 (2H14).

The research team at Kenanga Investment Bank Bhd (Kenanga Research) expect to see mergers and acquisitions (M&As) for non-stop exploration and production in the near future.

“We were pleasantly surprised by Dialog Group Bhd’s (Dialog) recent announcement that it had entered into a Letter Of Intent (LOI) to farm into 20 per cent of ROC Oil’s participating interest in the Production Sharing Contract (PSC) for the three fields D35, D21 and J4 fields, located offshore Sarawak, Malaysia.

“No purchase price has been revealed as yet but we will not be surprised if the consideration mirrors ROC oil’s farm-in terms (US$25 million plus a carry with a 50 per cent participating interest of US$80 million for the project spread over Phases 1 and 2).”

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PETRONAS’ skills expansion to be supported by IChemE

September 20, 2014

Should be the IEM, yeah?

Dateline 2014-07-04, Process and Control Today:

PETRONAS has become the first organisation in Malaysia to receive accreditation for its company training scheme by global professional body, the Institution of Chemical Engineers (IChemE).

PETRONAS, the national oil company of Malaysia, currently employs more than 30,000 employees group-wide, including 3,500 chemical engineers. It plans to grow rapidly over the next few years, including building the USD16 billion Refinery and Petrochemical Integrated Development (RAPID) project.

PETRONAS expects it will need additional chemical engineers to support its expansion and in recent years has been working closely with the Institution of Chemical Engineers (IChemE), to develop its own world-class and globally recognised training scheme.

In June 2014, PETRONAS achieved a major milestone in its skills development strategy with formal accreditation by IChemE for its internal company training scheme called Accelerated Capability Development (ACD) for Chemical Engineering.

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Malaysian Energy Giant Causes Stir Over Need to Move Chinese Graves

September 19, 2014

Ah, I this ties into other info I received.

Dateline 2014-07-04, TWSJ:

State-owned oil and gas giant Petronas is facing an outcry by some southern Malaysians whose ancestors’ graves are being moved from a small cluster of Chinese cemeteries to make way for a $25 billion gas project. One Chinese farmer walked 500 miles to protest.

So far, more than half of the graves have been dug up and moved to a plot of state land, sparking at least nine lawsuits and the walk by farmer Chua Peng San. Eight of the lawsuits have been successful; one is still pending.

The farmer, from Pengerang, a rural coastal area in the southwestern tip of Johor, walked to Parliament and Petronas headquarters, both in Kuala Lumpur.

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Shell, Petronas expand Baram Delta terms to include gas rights

September 18, 2014

Dateline 2014-07-03, The Star:

Petronas, Petronas Carigali Sdn Bhd and Shell Malaysia have expanded the terms of the 2011 Baram Delta (BDO) production sharing contract (PSC) for enhanced oil recovery projects (EOR) offshore Sarawak (2011 Baram Delta EOR PSC) to include gas rights.

With the signing of the Heads of Agreement (HOA) for Baram Delta Gas Gathering Project 2 (BARDEGG2), associated and non-associated gas rights linked with the Baram Delta Operations will be incorporated into the 2011 Baram Delta EOR PSC, said Shell Malaysia in a statement on Thursday.

The Tukau Timur field, previously part of the SK307 PSC, will also be integrated into the 2011 Baram Delta EOR PSC enabling non-associated gas to be developed as part of a single integrated development project.

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GBH to venture into oil & gas via RTO

September 17, 2014

Way to go, GBH. Going from toilets to turbo machinery, literally. I knew Dynac when the were putting AHUs on Esso’s platforms.

Dateline 2014-07-03, The Sun:

Ceramic maker Goh Ban Huat Bhd (GBH) is proposing to acquire all shares of Dynac Sdn Bhd via a reverse takeover (RTO) for RM632 million. Dynac specialises in providing contract work, support products and services for the oil and gas industry.

In a filing with Bursa Malaysia, GBH said it has entered into a memorandum of agreement (MoA) with Datuk Abdul Rahman Mohamed Shariff and Normala Mohd Sharif for the proposed acquisition, which will see Abdul Rahman emerge as the single largest substantial shareholder in GBH.

The proposed acquisition will be satisfied via RM210 million in cash and the balance via the issuance of new GBH shares valued at RM2.00 each.

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Saturday Star 2014-09-13 – Job Opportunities

September 15, 2014

Talbiyah (from 123muslim.com)

Buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper. Or go to Hajj, whichever you prefer.

  • I’m lining up jobs for next quarter, for IGL Services. Whisper to (better yet, carpe jugulum) your boss, and send work my way.
  • Nothing interesting in the papers this week

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? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

The newest book in the Dresden File series is out. Magic + pop culture + Star Wars references, beat that!

White Night (The Dresden Files, Book 9), Cold Days (Dresden Files), Skin Game (Dresden Files)

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GST Likely For RON97

September 14, 2014

Dateline 2014-07-01, Malaysian Digest:

The government sent a clear signal over the weekend that subsidised fuel will remain in Malaysia for now.

This means RON95 petrol and diesel are unlikely to attract the 6% Goods and Service Tax (GST) from April 1 next year. But RON97 remains fair game.

Most telling is how Domestic Trade, Cooperative and Consumerism Ministry (KPDNKK) secretary-general Datuk Seri Alias Ahmad said subsidised fuel supply will be curtailed to address the problem of smuggling.

KPDNKK would decide the quota and approval of subsidised fuels for each petrol station, and not the oil and gas companies, from Aug 1.

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PIPC supporters say it’s on track to become ‘Rotterdam of the East’

September 13, 2014

Dateline 2014-06-30, Malaysia Chronicle:

CONTRARY to what detractors say, the Pengerang Integrated Petroleum Complex (PIPC) in Johor is alive and kicking, and on track to become the “Rotterdam of the East”.

Rotterdam of the Netherlands is the world’s largest petroleum and gas hub, followed by Houston in the United States and Singapore.

Almost the size of Singapore, Pengerang, located at the most southeastern tip of Peninsular Malaysia, houses the sprawling 8,000ha PIPC, which is set to become the region’s oil and gas (O&G) hub and promises to provide some 70,000 jobs to locals.

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Petrogas begins Malaysia onshore 2D seismic survey

September 12, 2014

Dateline 2014-06-30, Oil & Gas Technology:

RH Petrogas Limited has declared that its wholly owned subsidiary RHP (Mukah) has commenced the acquisition of approximately 550 line kilometres of 2D seismic survey in Block SK331 onshore Sarawak
The survey is expected to be completed in November 2014
Block SK331 is a large block covering an area of 11,600 square kilometres. The design and layout of the 2D seismic survey is based on the results of the 12,414 line kilometres of full tensor gradiometry survey conducted in 2013 and of the reprocessing of old seismic lines within the block.

Through the results of this new 2D seismic survey, the company is targeting to further evaluate several identified leads in order to upgrade and mature one or more of them into prospective candidates for exploration drilling.

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Cap Petronas’;s dividends to Putrajaya, says Selangor rep

September 9, 2014

Dateline 2014-06-28, MSN (that’ a first):

Petronas’s dividends to Putrajaya should be capped to ensure the national oil and gas company would continue to grow in the long run, a Selangor lawmaker said today.

Damansara Utama assemblywoman Yeo Bee Yin said between 2008 and 2012, Petronas paid 55% to 68% of their profits to Putrajaya in the form of dividends.

“The average percentage of payouts of national oil companies around the world is only 38%.

“In order to ensure Petronas’s long-term growth, it is time to amend Section 4 of the Petroleum Development Act 1974 to cap Petronas’s dividends,” she said in a statement today.

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