February 18, 2014
Really? No slowdown in contracts?
Dateline 2014-01-08, Borneo Post:
On the back of booming 2013, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) believes that the oil and gas sector will continue to be on overdrive in 2014.
The research arm pointed out that the overall sector did spectacularly well in 2013 with stocks under its coverage gaining an average of 75 per cent on a year to date (YTD) basis.
“The significant share price gains are no surprise as around RM30 billion of domestic contracts (inclusive of international wins, the total rise to RM43.3 billion) were dished out in 2013, which is a far cry from the circa RM10 billion contract wins in 2012,” it opined.
Despite significant share price appreciations, Kenanga Research expects further gains as it believes there are still ample project awards in 2014 to act as catalysts.
In addition there will likely be no slowdown in contracts flow this year.
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Posted by Wata
February 17, 2014
I see that for Ranhill, the game is afoot.
From The Star, dateline 2014-01-07:
Petronas Carigali Sdn Bhd has awarded a five-year umbrella contract to four local engineering services contractors to undertake the design and engineering services for its facilities involved in the oil and gas industry.
Petronas Carigali, which is Petroliam Nasional Bhd’s upstream unit, said on Tuesday the four companies were Technip Consultant (M) Sdn Bhd, Perunding Ranhill Worley Sdn Bhd, RNZ Integrated (M) Sdn Bhd and MMC Oil & Gas Engineering Sdn Bhd.
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Leave a Comment » | investment, Malaysia, oil and gas | Tagged: MMC, PCSB, Ranhill, RNZ, technip | Permalink
Posted by Wata
February 16, 2014
Dateline 2014-01-03, Offshore:
Mubadala Petroleum has discovered gas in the Sintok structure offshore Sarawak, according to partner Petronas.
The Sintok-1 well was drilled in block SK320, 240 km (149 mi) northwest of Bintulu, to a TD of 2,775 m (9,104 ft). It encountered gas in the main target reservoir.
Analysis of well data indicates a 292-m (958-ft) gas column. Studies continue to assess the volume of the discovery.
This was the third gas find on the block since it was awarded in February 2010.
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Leave a Comment » | business opportunity, Malaysia | Tagged: Mubadala, Petronas, SIntok | Permalink
Posted by Wata
February 15, 2014
Dateline 2013-12-27, Malaysian Digest.com:
The contracts worth about RM300 billion awarded by Petronas to Bumiputera firms in the last five years show their high level of competitiveness and credibility, said the Malaysian Oil and Gas Services Council (MOGSC).
MOGSC president Sofiyan Yahya said Bumiputera firms’ level of activity in the oil and gas industry can be seen in the council, 90 per cent of whose 450 members are Bumiputera companies.
“MOGSC is willing to support Bumiputera firms who want to venture into this sector,” he told Bernama.
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Posted by Wata
February 14, 2014
Dateline 2012-12-25, The Star:
Hibiscus Petroleum Bhd, the first special-purpose acquisition company (SPAC) to be listed on the local bourse, has discovered oil in its Oman assets, but the first well is not commercially viable.
The oil and gas exploration outfit told Bursa Malaysia that Masirah Oil Ltd, a jointly controlled entity of Lime Petroleum Plc, had suspended its first exploration well, Masirah North North 1 (MNN 1) in Block 50 Oman, for further evaluation on safety reasons.
The group noted in a press statement that the well had been drilled to a total depth of about 1,000m below the mean sea level.
“Mud losses in two carbonate sections of the well prevented Masirah Oil from reaching its planned target depth,” it said.
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Posted by Wata
February 13, 2014
Dateline 2013-12-21, Malaysia Chronicle:
THE era of cheap energy has ended and Malaysia has to face the fact that it has to move on to an open market regime, targeted to be implemented by 2019, said Petroliam Nasional Bhd (Petronas).
The national oil company, by way of its wholly-owned subsidiary Petronas Gas Bhd (PGB), has recorded revenue foregone due to regulated gas pricing at a cumulative RM199.9 billion since 1997, with 2013’s first three quarters making up RM20.29 billion alone.
“What we want to do is to move our regulated gas market towards an open market so that we can enjoy competitive pricing. In order to achieve this we need to gradually phase out our regulated market module now,” said Petronas general manager for Malaysia gas management Ezhar Yazid Jaafar during a media briefing, here, recently.
He explained that in preparation for an open market module, the government is increasingly decreasing the amount of gas consumption subsidy, which has a significant impact on the increment of the electric tariff from 33.54 sen/kWj to 38.53 sen/kWj.
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2 Comments | Malaysia, Malaysian election, oil and gas | Tagged: Petronas, PGB | Permalink
Posted by Wata
February 12, 2014
Dateline 2013-12-20, The Star:
Malaysia may see almost all of its gas production requirements being sourced from local means from 2015 as soon as the second regassification terminal in Pengerang, Johor is up and running.
Petroliam Nasional Bhd general manager for Malaysia gas management Ezhar Yazid Jaafar said that the additional supply would be sourced from east Malaysia to be processed in Pengerang.
Speaking at a press conference on Wednesday, Ezhar said the country now sourced about 15% of its local requirements from overseas.
“In 2015 or 2016 we will source most of our supplies locally. We presently import LNG from countries such as Brunei, Nigeria, Qatar and Norway,” he said.
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Posted by Wata
February 11, 2014
Dateline 2013-12-14, The Star:
AN oil and gas stock which has got the market all excited since its debut on Nov 6 would be Barakah Offshore Petroleum Bhd. Not only has its stock price done well (it’s up 2.4 times to RM1.56 from its offer price of 65 sen), but it has also won a Petroliam Nasional Bhd (Petronas) contract less than two months after its listing.
While trading in Barakah remains suspended as at press time, the stock will likely see further action when trading reopens.
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Leave a Comment » | investment, Malaysia, oil and gas | Tagged: Barakah Offshore Petroleum, PBJV | Permalink
Posted by Wata
February 8, 2014
Anyone know which chopper this was?
Dateline 2013-12-12, Upstream, and 2013-12-12, NST:
A Sikorsky S-76 helicopter with two flight crew together with six passengers were forced to land their aircraft 92 nautical miles off coast Bintulu.
In the 7.42am incident, the helicopter and its passengers who are oil and gas workers, were carrying out offshore oil well survey in the area when they were hit by sudden weather change.Police said the passengers were from France, Norway, Finland, Denmark and Canada.
Bintulu Police Chief Superintendent Madang Usat confirmed the incident and said the crew and passengers are safe.
“After the emergency landing, they were picked up by a vessel nearby who took them to shore,” said Madang.
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Leave a Comment » | Malaysia, oil and gas | Tagged: bintulu, chopper S-76, ditching, Sikorsky | Permalink
Posted by Wata
February 6, 2014
Dateline 2013-12-12, The Star:
Malaysian oil and gas (O&G) companies raked in RM786mil in total sales at the 10th ASCOPE Conference and Exhibition 2013 in Ho Chi Minh City, Vietnam, hosted by state-owned Vietnam Oil & Gas Corporation (PetroVietnam) on Nov 27-Dec 1.
The Malaysia External Trade Development Corporation (Matrade), which led 14 local companies including 10 small and medium enterprises on a special mission for the O&G sector, said during the five-day event it arranged 96 business meetings.
In a statement today, Matrade said the companies were given an opportunity to present their capabilities to three prominent subsidiaries of PetroVietnam:PetroVietnam Domestic Exploration and Production Operating Co Ltd (PVEP POC), PetroVietnam Gas Corporation (PV Gas) and PetroVietnam Technical Services Corporation (PTSC).
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Leave a Comment » | Malaysia, oil and gas | Tagged: ASCOPE | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 