MUBADALA PETROLEUM CONFIRMS GAS DISCOVERIES IN MALAYSIA

August 30, 2014

Dateline 2014-06-24, O&G Financial Journal:

Mubadala Petroleum reports that appraisal drilling and testing has confirmed the Pegaga discovery in Block SK320 offshore Malaysia as a substantial gas find with significant commercial potential.

A third discovery, Sirih-1, has also been confirmed from the 2013/14 exploration drilling program that has targeted a series of carbonate pinnacles within Block SK320. This adds to the Pegaga-1 and Sintok-1 discoveries announced previously, and the existing M5 discovery which Mubadala Petroleum successful appraised in 2012.

…

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

Hibiscus Acquires Talisman’s 25% Stake in Kitan Oil Field in JPDA 06-105

August 29, 2014

Dateline 2014-06-24, Rigzone:

Malaysia’s Hibiscus Petroleum Berhad announced Monday that its wholly-owned subsidiary, Timor Hibiscus Limited, has executed a Share Sale Agreement for the acquisition of 100 percent of the shares in Talisman Resources (JPDA 06 105) Pty Ltd., a wholly-owned subsidiary of Toronto Stock Exchange and New York Exchange listed, Talisman Energy Inc. The assets of the company acquired include a 25 percent stake in the Kitan producing oil field. Based on the current estimates, Hibiscus expects the Kitan oil field to contribute significant net cash to the company in the second half of 2014. At current oil prices, this will allow Hibiscus to book its first operating profit in 2014.

…

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

Is Malaysia’s Ruling Party Trying To Take Over Petronas?

August 28, 2014

Link bait. Please chomp.

Dateline 2014-06-27, Valuewalk (huh?):

Petronas, Malaysia’s state-owned oil company, may be the target of take over by Barisan Nasional. While politicians have long interfered with the state-owned oil company’s operations, it appears that current CEO Tan Sri Shamsul Abbas is apparently coming under pressure to step down and elements of Malaysia’s ruling party are trying to remove him.

…

 

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

Malaysia’s Oil Shields Ringgit as Rupiah Exposed: Asean Credit

August 27, 2014

Dateline 2014-06-24, Bloomberg:

The ringgit will weather a surge in oil prices better than other Southeast Asian currencies as Malaysia is the region’s sole net exporter of crude, providing support for bonds, BNP Paribas Investment Partners says.

Options traders are the least pessimistic on the ringgit’s outlook, while the currencies of net oil importers such asIndonesia and Thailand are viewed as the most vulnerable, data compiled by Bloomberg show. Crude climbed last week to the highest level since September, driven by concern escalating violence in Iraq will disrupt world supply, and Malaysian bonds outperformed the rest of the region over the past month.

…

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

IEM Shout Out – Drilling Engineering – What Is It?

August 27, 2014

This is a shout out for the IEM. My Technical Division will hosting the above talk on the 13th September, 2014 at 9am.

Drilling Engineering is a subsection of Petroleum Engineering discipline.  It is a specialized skill that is well sought after all around the world. Our mission is to bring up the oil and gas from the formation 3-5 km underground, up to the surface safely.

The objectives of this talk to provide the audience with an introduction to what a Drilling Engineer does.  In order to achieve the mission, a Drilling Engineer will interface with many other disciplines, the work is more than just engineering.  This is where many people realize, they want to know what exactly a Drilling Engineer does.

Ir. Razak Yakob graduated from the Colorado School of Mines in the United States with a degree in Petroleum Engineering and a minor in Mechanical Design in 1996. He has 18 years of working experience in various roles, in the Drilling sector of the oil and gas industry.  He previously worked with ExxonMobil, Halliburton, Talisman, and Petronas Carigali.

He is currently an Independent Drilling Consultant providing services in the Tanjong Baram Small Field Risk Service Contract Project for EnQuest.

Fliers for the above and other events may be obtained here.

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

No ‘Plan B’ for Pengerang

August 26, 2014

Did I say that Mohd Yazid Jaafar is my senior?

Dateline 2014-06-23, The Rakyat Post:

With the main purpose of development at Pengerang – as an oil storage terminal – already realised, the major spillover benefits to the still-underdeveloped corner of southern Johor would have not taken off if Petronas hadn’t agreed to invest there recently.

“There was no ‘Plan B’ for major investments in the area,” said Johor Petroleum Development Corporation (JPDC) chief executive officer Mohd Yazid Jaafar at a recent media briefing.

“Without commitment from Petronas, development plans for the whole Pengerang area could have been badly delayed. We could have lost out to other projects about to take off in Singapore and Indonesia.”

Mohd Yazid explained that there is just a small window of opportunity over the next few years for Pengerang to attract petroleum majors and strategic downstream industry investors.

…

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

Saturday Star 2014-08-23 – Job Opportunities

August 25, 2014

Happy Visit Kota Kinabalu week.

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.

  • I’m lining up jobs for next quarter. 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.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

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

IEM Shout Out – Talk on An Introduction to A Pneumatic Conveying System, Its Advantages and Practical Selection Guidelines

August 24, 2014

This is a shout out for the IEM. My Technical Division will be having a talk on Saturday 6th Septermber, 2014 by Ir. Low Chew Eow (Rocky). It’ll be at 9:00am (makan-makan at 8.30am) at Wisma IEM.

A Pneumatic Conveying system is used to transfer items from one place to another. It is widely found in various industries. In the petrochemical industry, a Pneumatic Conveying system is used to transfer products in the form of powder or pellets into the bagging system for example. There are various types of Pneumatic Conveying system and each type is selected to best suit its applications. A Pneumatic Conveying system is usually chosen when it has to meet various stringent requirements for a clean environment, having minimum maintenance downtime and needing to operate within a congested plant footprint. It is also very reliable when a long continuous operation is required. The talk will provide an introduction of the system’s design and selection criteria for different type of systems such as “Open/Close Loop”, “Positive or Negative Conveying” and “Dilute or Dense Phase”. It will also impart knowledge on equipment selection that makes up the complete system such as blower or screw compressor, cooler (if required), type of diverter valve and type of piping to be used.

Ir. Low Chew Eow (Rocky) graduated from the University of Glasgow, UK with a degree in Mechanical Engineering in 1990. He has more than 24 years of working experience in various roles, of which about 16 years are in the oil and gas industry. He specializes in Pneumatic Conveying System in the food, mining and petrochemical industry where he has been involved from the designing, fabrication, installation and commissioning stages. He is currently the Head of Package Equipment Department in Technip Consultant (M) Sdn. Bhd. He is also the Member of Expert Network specializing in Pneumatic Conveying System within the Technip group. You can register here and download the flyer here.

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

Reach Energy SPAC listing gets SC nod

August 23, 2014

Dateline 2014-06-23, The Sun Daily:

Reach Energy Bhd, the fourth oil and gas (O&G) special purpose acquisition company (SPAC) to be listed, aims to raise RM750 million from a listing on the Main Market of Bursa Malaysia.

It obtained approval from the Securities Commission Malaysia (SC) for its listing exercise last Thursday.

Reach Energy’s initial public offering (IPO) exercise provides an issue price of 75 sen per public issue share which comprises: 980 million public issue shares together with 980 million Warrants on the basis of one warrant for every one public issue share subscribed by way of placement to selected investors and 20 million public issue shares together with 20 million warrants on the basis of one warrant for every one public issue share subscribed available for application by the Malaysian public.

The company said in a statement last Friday that it expects to complete the flotation exercise by the third quarter of 2014.
Hong Leong Investment Bank Bhd is the principal adviser, placement agent and underwriter for its initial public offering (IPO) exercise.

…

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

Abu Dhabi’s Mubadala Petroleum says makes Malaysian gas discovery

August 22, 2014

How come I haven’t seen Mubadala’s recruitment adverts?

Dateline 2014-06-23, Reuters:

Abu Dhabi’s Mubadala Petroleum on Monday said it made a new gas discovery with significant commercial potential in Malaysia, its fourth discovery within its operating block.

Mubadala Petroleum, a unit of Abu Dhabi’s investment fund Mubadala said it found substantial gas in the Pegaga well in its operating block SK320.

The four gas discoveries are in close proximity, including the original M-5 well success, Mubadala said in a statement.

“Together these discoveries represent a very significant hydrocarbon resource, with the potential for a commercially attractive, integrated development,” Maurizio La Noce, chief executive of Mubadala Petroleum, said in the statement.

…

 

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

« Previous Entries
Next Entries »