CEB shortlists 5 potential assets for acquisition

September 1, 2013

Dateline 2013-07-23:

Oil and gas (O&G) exploration and production (E&P) company CLIQ Energy Bhd (CEB) has shortlisted five qualifying assets out of 38 proposals for full evaluation, MD and CEO Ahmad Ziyad Elias said.

He said the shortlisted qualifying assets are from Malaysia, Indonesia and Papua New Guinea which will now move to the next stage of evaluation.

“We have already appointed consultants to evaluate the shortlisted qualifying assets, which is a mixture of pre-development assets, assets that need appraisal as well as production assets that have merger and acquisition (M&A) opportunities,” Ahmad Ziyad told reporters after the company’s first AGM in Kuala Lumpur yesterday.

CEB, a special purpose acquisition company (SPAC) which specialises in the acquisition and development of O&G assets located in Asia and Oceania, has been actively focusing on acquiring discovered small- and medium-sized O&G fields with relatively low to moderate risk.

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Posted by Wata

Higher fuel costs from 2014 for consumers?

August 31, 2013

Expect higher electrical bills, and higher profits from TNB.

Dateliine 2013-07-23:

Malaysians can expect to pay higher electricity bills from early 2014 when the government is expected to implement its Fuel Cost Pass Through (FCPT) mechanism and pass on higher fuel costs directly to consumers.

According to MyPower Corp, the agency tasked with overhauling the power sector, the nuts and bolts of the FCPT mechanism is almost completed and will be ready for implementation early next year.

MyPower CEO Abdul Razak Abdul Majid said the FCPT is an important component of the government’s incentive-based regulation for the power sector and would be implemented by Tenaga Nasional Bhd(TNB) once the national power company can integrate it into its business model.

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SapuraKencana leads M’sia-S’pore companies

August 30, 2013

Dateline 2013-07-22:

From hauling rigs to delivering toilet paper, firms from Southeast Asia are cornering lucrative niches of the oilfield services market to deliver growth that far outstrips that of much larger global peers.

SapuraKencana Petroleum and Ezion Holdings lead a group of top 20 Malaysia- and Singapore-listed companies that grew assets by 30 percent to $8.4 billion last year, according to Reuters analysis of company data.

Their expertise ranges from laying steel pipes at the bottom of the ocean and moving huge rigs from the South China Sea to the Gulf of Mexico, to delivering provisions for the rig crews.

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3 Comments | investment, Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Kuala Besut and oil royalty

August 29, 2013

Dateline 2013-07-22:

Political campaign is a strange subject. What seems straightforward to some can be made complicated by others. If I were a voter in Kuala Besut, my choice as to who I should vote for, is rather obvious and simple. Having said that, there must be some basis on my decision making process.

I would start by examining my own economic position, what job I am doing, how much do I earn per month and how does my income level compares to the Terengganu state average and eventually Malaysia’s national average. This is a very simple approach and does not require any deep analysis.

If I work as a fisherman and my average income is RM1000 per month that is considered good. But if Terengganu state average is RM3000 per month then what I earn is only a third of the state average. So I am considered as way below average as many fishermen in Terengganu (and Kelantan) are in the same boat.

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Posted by Wata

BEM 40th Anniversary Dinner

August 28, 2013

Aren’t you upset you missed it?

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Posted by Wata

IEM Shout Out – Technical Visit to Tenaga Kimia Sdn Bhd

August 27, 2013

This is a shout out for the IEM. My Technical Division will hosting the above visit on the 10th September, 2103.

Tenaga Kimia Sendirian Berhad (TKSB) is the leading supplier of a complete range of civil high explosive products, blasting accessories, bulk emulsion delivery and technical services in Malaysia and countries in the South East Asian region.

TKSB is one of the pioneers in the manufacturing of emulsion explosives since 1983, known then as EMULITE and now as EMULEX®. TKSB caters to all its customers’ needs by listening to them and maintains its philosophy as being the total solutions provider to its users. TKSB wish to be “Your Partner with Total Blasting Solutions”.

TKSB was established in 1976 as a joint venture company between an international explosives manufacturer and local partners which are subsidiary companies of Syarikat Malaysia Explosive and Uda Sinbor. The Company was further transformed into a manufacturer of advanced emulsion high explosives in 1981 when a new joint venture was formed with Nitro Nobel of Sweden, renowned for its explosives and blasting technology. Nitro Nobel of Sweden later became the subsidiary of Dyno Nobel ASA which is one of the biggest explosives and initiating explosive products manufacturer in the world.

You can register here. Fliers may be obtained here.

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Posted by Wata

Saturday Star 2013-08-24 – Job Opportunities

August 26, 2013

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 process safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • SapuraKencana is looking for warm bodies to fill up Hook-UP and Commissioning positions. “Interested candidates are invited to visit our website for details…” blah blah. You can also send your cv here.
  • JX Nippon Oil & Gas Exploration (Malaysia) Ltd is looking people, in the Project Team, Production Operations, Development, Business Support. Send your cv here. Or visit http://www.nex.jx-group.co.jp/english → RECRUIT → Employment in Miri (Malaysia)
  • Murphy is looking for a Sarawak gas subsurface team leader. Send your cv here.
  • Side note: My mechanic complains that there are not enough trained mechanics are being extruded from our schools. If you know of any idle ones, he’s looking for some. Ask them to contact Kong Ming Chai at +60122951023. On another note, has this shortfall hit the news? Can I get the contract for 1Repair?

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!

Some interesting book on display at Kinokunya:

Modern Chemical Enhanced Oil Recovery: Theory and Practice, Offshore Structures: Design, Construction and Maintenance, Glossary of the Petroleum Industry: English/Spanish & Spanish/English

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.

2 Comments | engineering, Malaysia, oil and gas | Tagged: , , , | Permalink
Posted by Wata

Qatargas sells first LNG cargo to Malaysia

August 25, 2013

Semenanjung is now importing gas. So it begins…

Dateline 2013-07-22:

Qatargas Operating Company Limited (Qatargas) announced today that it has sold Qatar’s first ever cargo of Liquefied Natural Gas (LNG) to Malaysia.

The cargo was sold to Petronas LNG Ltd (Petronas) of Malaysia and was loaded yesterday on-board the LNG Vessel ‘Seri Begawan’ at Ras Laffan Port. The cargo will be delivered to Malaysia’s first LNG receiving terminal located in Melaka. The conventional sized cargo contains approximately 3.1 trillion Btu of LNG.

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Southeast Asia’s oilfield service minnows come of age

August 24, 2013

Dateline 2013-07-21:

From hauling rigs to delivering toilet paper, firms from Southeast Asia are cornering lucrative niches of the oilfield services market to deliver growth that far outstrips that of much larger global peers.

SapuraKencana Petroleum and Ezion Holdings lead a group of top 20 Malaysia- and Singapore-listed companies that grew assets by 30 percent to $8.4 billion last year, according to Reuters analysis of company data.

Their expertise ranges from laying steel pipes at the bottom of the ocean and moving huge rigs from the South China Sea to the Gulf of Mexico, to delivering provisions for the rig crews.

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Posted by Wata

Shahul plans O&G SPAC

August 23, 2013

Dateline 2013-07-20:

Shahul Hamid Mohd Ismail, who is currently a director in the Daya group of companies, is in the midst of planning an oil and gas SPAC. Notably, if successful, this would make it the country’s fourth oil and gas SPAC after the first three that were approved.

Having more than 30 years of experience in the oil and gas industry working in senior roles for ExxonMobil, Shell and other companies in the exploration and production sector (E&P), he was also formerly the managing director of Shell Refining Co Bhd.

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