After petrol price hike, Maybank research unit expects GAS & ELECTRICITY TO BE NEXT

November 10, 2013

Dateline 2013-09-19, Malaysia Chronicle:

Gas and electricity prices are likely to be next in a round of price hikes following the fuel subsidy cut earlier this month, Maybank Investment Bank (IB) Research predicted today.

In its daily report, Maybank IB has predicted further subsidy rollbacks since the total savings from the Performance Management and Delivery Unit’s Subsidy Rationalisation Roadmap in 2010 has been much less than intended.

“Total savings since 2010, at RM9 billion into 2014, is a pale comparison to what was intended in the 2010 Roadmap.

“Considering its inflationary impact and the need to sustain domestic consumption, we take the view that upcoming subsidy rollbacks will remain gradual. We think gas and electricity prices will be next to be addressed,” said the report here.

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Japan’s JX acquires stake in deepwater Malaysia block

November 9, 2013

From The Sun Daily, 2013-09-19:

Japan’s JX Nippon Oil & Gas Exploration Corp said on Thursday it has acquired a 40% stake in the Deepwater Block 2F off the coast of Sarawak in Malaysia.

JX and Petroliam Nasional Bhd (Petronas) have entered into a production sharing contract for the block, JX’s sixth block in Malaysia and its fourth as an operator, it added.

Petronas also holds a 40% stake, while GDF Suez E&P Malaysia BV has the remaining 20%. The exploration period is four years.

“Deepwater Block 2F is located in the northwest of Sarawak, with 5,500 sq km surface area and 100-1,200m water depth,” JX said.

 

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1 Country Fueling Big Profit Margins for Big Oil

November 8, 2013

Dateline 2013-09-17, The Motley Fool:

Most of us probably have no idea where Malaysia is located. Even fewer probably know of its natural resource riches. That needs to change because Malaysia should prove to be an important location for oil companies looking for growth. Not to mention its importance to investors looking to profit from that growth.

For those needing a quick geography lesson, Malaysia is located in Southeast Asia and it’s actually two separate land masses separated by the South China Sea. Its that geographic location that’s important because of its close proximity to oil thirsty China.

Speaking of oil, Malaysia is actually the second largest oil and gas producer in Southeast Asia and it’s the second largest exporter of liquefied natural gas in the entire world. Further, Malaysia is estimated to hold the fifth largest oil reserves in Asia-Pacific and one of the top 30 holders of oil reserves in the world. Malaysia really is resource rich.

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Petrofac wins training contract with Malaysia’s Petronas

November 7, 2013

Dateline 2013-09-16, IFA:

Oil and gas services provider Petrofac is to operate and manage two training facilities for Malaysian oil major Petronas in a contract worth 120m dollars.

The company is currently constructing two upstream plant training facilities and a downstream facility to support Petronas’ workforce capability enhancement programme. The two upstream facilities will be managed by Petrofac for the next five years and will see 500 delegates trained each year. There is the option to extend the agreement for a further two years.

Andy Inglis, the head of Petrofac Integrated Energy Services, said he was ‘delighted’ to build on the existing relationship with long-term customer Petronas.

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JX Nippon SK10 10th Anniversary Dinner

November 6, 2013

Do I need to add anything further? Dinner was held on Oct 25th, 2013.

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IEM Shout Out – Talk On Introduction to Measurement

November 6, 2013

This is a shout out for the IEM. My Technical Division will be having a talk on Wed, 6th October, 2012. It’ll be at 5:30 pm at Wisma IEM. Note that no CPD points will be awarded, but I think the talk is important enough for you to attend.

Measurement is an important part of the oil and gas industry. The industry focus has mainly been on improving safety and optimizing production, but without accurate and credible measurement, there will be an unacceptable level of uncertainty in the amount being produced. This uncertainty may translate to commercial disputes, or improper management of available reserves.

This presentation will provide an introduction to measurement. The session will be broken down as follows:

Part 1: Introduction to Measurement (approximately one hour)
Part 2: Why Measurement is Important (approximately one hour)

The presentations are part of TUV NEL’s ‘Free Flow Measurement Training’ series.

Gilbert has worked in the Engineering Industry since 1966 progressively developing a career path, which included a Managing Directorship in a specialised Flow Measurement Consultancy Company. The majority of his career has been concentrated in the area of flow measurement, allocation, sampling and analysis in the Oil and Gas Industry. His current role is developing a Flow Consultancy business for TÜV NEL in the Asia Pacific Region.

Chris is a flow measurement consultant at NEL in Glasgow, Scotland who specialises in the oil & gas industry. He has approximately 5 years experience at NEL and works predominately on consultancy for the oil & gas industry. Chris has in depth knowledge of flow measurement technologies, allocation and measurement uncertainty. Chris has been the technical lead on several high value projects during his time at NEL. Chris’s knowledge and expertise were exploited in the NEL led Joint industry Project researching measurement techniques for high viscosity fluids. He was also responsible for the modification to the NEL oil flow facility to incorporate high viscosity fluids up to 1500 cSt. He has presented technical papers on flow measurement at several conferences around the world, including Calgary, Kuala Lumpur, London and Oslo. He has also represented NEL at the Energy Institute HMC-1 meetings and been part of the Oil & Gas Focus Group steering committee.

You can register here, and flyers for the above and other events may be obtained here.

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Samsung Engineering Wins US$770 Million Gas Terminal Contract in Malaysia

November 6, 2013

Oh, crap. I didn’t know they were removing H2S. Back to the drawing tablet.

Dateline 2013-09-16:

Samsung Engineering announced on September 13 that it won the Terengganu Gas Terminal (TGAST) project worth US$770 million (834 billion won) from US-based oil and gas firm Hess Corporation, and Petronas Carigali, the Exploration and Production subsidiary of Malaysia’s national oil company Petronas.

This project involves the construction of a gas terminal in Kerteh, Terengganu, which lies about 260km northeast of Kuala Lumpur. The gas terminal will produce 700 million cubic feet each day by removing impurities such as carbon dioxide (CO2) and hydrogen sulfide (H2S) from natural gas extracted at sea.

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IEM Shout Out – Visit to Lynas Advanced Materials Plant (Lynas Advanced Materials Plant (LAMP), Gebeng Industrial Estate, Kuantan, Pahang)

November 5, 2013

This is a shout out for the IEM. My technical division will be hosting a trip to Lynas Advanced Materials Plant (Lynas Advanced Materials Plant (LAMP), Gebeng Industrial Estate, Kuantan, Pahang.) on the 23rd November, 2013. You will be anointed with 3.5 CPD / PDP hours.

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Lynas Advanced Materials Plant (LAMP), situated in Kuantan, Pahang is a state-of-the-art Rare Earths processing plant that process Rare Earths sourced from Mount Weld in Western Australia, the richest known deposit of Rare Earths in the world. The visit aims to enlighten participants of the properties of Rare Earths, their use and the daily operational aspects of LAMP.

Tentative schedule:

  • 7.00 am Bus departs from IEM, PJ
  • 10.00 am Arrival at LAMP
  • 10.00 am – 12.00 pm Briefing on LAMP Operation
  • 12.00 pm – 12.30 pm Q&A Session
  • 12.30 pm – 1.30 pm Tour of Plant
  • 1.30 pm – 2.00 pm Catered Lunch at LAMP
  • 2.00 pm End of tour and depart to IEM

Register here, and get the form here.

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Boom time for O&G players

November 5, 2013

Dateline 2013-09-11, The Sun:

It’s boom time for offshore oil and gas (O&G) contractors as international oil companies search further and deeper to quench global thirst for fuel, even as crude prices continue to trade north of US$100 (RM328) a barrel.

“We can expect a good mix of local, regional and international jobs to be awarded to Malaysian oil and gas players and we can expect Petronas to keep the momentum going as it pushes for more deepwater, high pressure, high temperature and high carbon dioxide oil fields,” MIDF Research said.

It added that the timing for the launch of the RM60 billion Refinery and Petrochemical Integrated Development project has little impact on listed oil and gas companies, as most of them are focused on the upstream side of the industry.

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Saturday Star 2013-11-02 – Job Opportunities

November 4, 2013

Happy Budget Analysis Day!

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • My apologies, was busy this weekend, and forgot to get my hands on a physical copy of The Star.

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

Break the Low Yat stranglehold! Support Newegg Malaysia, or check Amazon’s International Shipping. Yeah, baby!

Let’s go back to basics, the quanta of it all:

  

Alice in Quantumland: An Allegory of Quantum Physics, The Wizard of Quarks: A Fantasy of Particle Physics, Scrooge’s Cryptic Carol: Visions of Energy, Time, and Quantum Nature

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

Food?I had lunch at Chakri Palace, KLCC. Blooming expensive. Anyone want to treat me to dinner there?

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