Malaysia’s Petronas makes higher offer for MISC in $3 billion deal

April 28, 2013

From Reuters, dateline 2013-04-05:

Malaysia’s state owned oil and gas firm Petroliam Nasional Bhd (Petronas) PETR.UL raised the offer price to take over shipping firm MISC Bhd (MISC.KL) in a deal valued at 9.2 billion ringgit ($3 billion).

The revised offer of 5.50 ringgit per share comes after MISC’s other major shareholder, the Employees Provident Fund found the original bid of 5.30 per share to be unattractive.

Petronas did not disclose reasons behind the revised offer on Friday, which is 0.73 percent or four sen higher than MISC’s share close of 5.46 ringgit per share.

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Former PETRONAS chief named chairman of energy company

April 27, 2013

Dateline 2013-04-05, The Malaysian Insider:

Former Petronas CEO Tan Sri Hassan Marican has been named as chairman of Pavilion Energy Pte, a new energy company under Singapore’s investment fund Temasek Holdings.

Hassan, who left the national oil company at the beginning of 2010 allegedly due to friction with the government, has been accepting directorships with several foreign firms in the energy sector, including as chairman of Singapore Power Ltd in February last year.

According to a Bloomberg report, Hassan was appointed together with chief executive Seah Moon Ming who joined Temasek in March.

The report pointed out that Pavilion Energy was set up with an initial authorised capital of S$1 billion (RM2.47 billion), to capitalise on the growing demands in Asia, especially on liquefied natural gas (LNG).

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‘RM12b oil royalty unreasonable’

April 26, 2013

From the NST, dateline 2013-04-03:

Kelantan govt’s claim involves technical matters, says PM’s Office

KUALA LUMPUR: THE Kelantan government’s RM12 billion petroleum royalty demand is not only unreasonable from the legal standpoint but also concerns technicalities related to activities for oil and gas extraction in the area concerned.

The Prime Minister’s Office (PMO), in a statement issued yesterday, said Kelantan, just as Terengganu and all other states in Peninsular Malaysia, only had rights to demand petroleum royalty if extraction of oil and gas was done not more than three nautical miles from the low tide line or the shore of the state concerned.

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9 Comments | Malaysia, Malaysian election, oil and gas | Permalink
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PM: PETRONAS’ tender decision entirely its own

April 25, 2013

Does this mean that before this, the decision to award tenders was the PM’s?

From the Malaysian Chronicle, dateline 2013-04-03:

Decisions on tender awards for upstream and downstream activities in the oil and gas sector are left in Petronas’ (Petroliam Nasional Bhd) hands, said Prime Minister Datuk Seri Najib Razak.

The government does not want to have a say in the decision-making process.

“A few months ago, I decided that all the tenders be decided by the board’s wisdom … I don’t want to make the decision,” Najib said during a townhall session with Petronas staff yesterday.

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IEM Shout Out (OGMTD) – Talk on Reliability Engineering

April 23, 2013

This is a shout out for the IEM. My Technical Division will be having a talk on 4th May 2013. It’ll be at 9:00 am (makan-makan at 8:30) at Wisma IEM. We do have a lift, so no excuse. I have bad knees, and still manage to crawl up 2 flights.

This session introduces the audience to the history of reliability engineering, its application during the early days, and how it is applied today. It also covers some of the tools used by reliability engineers to study the life characteristics of equipment or systems. These include RAM(reliability availability maintainability) modeling, life data analysis, Monte Carlo simulation, and Markov chain analysis.

Examples of applications in the oil and gas industry is also discussed.

The above will be presented by A. Rizal Mohamed. He  is the reliability adviser to a Fortune 500 energy company, based in Kuala Lumpur. His responsibilities include providing advice to client organizations to improve equipment, system, and plant reliability and availability; developing reliability training modules and delivering the contents; coaching and assessing the capabilities of reliability engineers; performing root‐cause analysis to understand why systems and equipment fail; and assessing the conditions of physical assets in process plants owned by the clients.

You can register for the event here, and retrieve the flier here.

1 Comment | Chemical, engineering, Malaysia | Tagged: , | Permalink
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Malaysia PM expands handouts as delayed election nears

April 23, 2013

Apparently a main reason why PETRONAS staff get bonuses is … elections? In that case, they should change the Constitution to have elections every 6 months.

Dateline 2013-04-02 by the Sunday Straits Times:

Malaysian Prime Minister Najib Razak announced bonuses for the 40,000 employees of national oil firm PETRONAS on Tuesday, signalling a long wait for a general election is nearly over as he seeks last-minute support from the middle class.

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Saturday Star 2013-04-20 – Job Opportunities

April 22, 2013

Thanks for hanging round. Been busy and travelling round the past month, and it isn’t going to get any better.

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need money to purchase a dive light.

If you need my help to submit your CVs, donate to the blog, and I’ll review your CV to see if it is worthy of my (and my associates’) expectations. If you can’t figure out how to donate, no need to ask.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for process safety persons, lead piping designer, lead instrument engineer, and other seniors you think will catch my eye.
  • PETRONAS wants you to ‘take charge of your destiny.’ No, not run of elections. but work for them so they can dictate who runs for elections. Visit here.
  • SapuraKencana is looking for lead engineers, senior engineers, engineers, designers. Send your cv here.

How about some local food? Alisara at Puchong Indah. Specialises in Thai food, and has mango with stick rice.

Break the Low Yat stranglehold! Support Newegg Malaysia.

Continue your technical safety education

  

Process Safety Analysis: An Introduction, Hazard Identification and Risk Assessment – IChemE, LNG Risk Based Safety: Modeling and Consequence Analysis, Process Safety Analysis: An Introduction.

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Newfield Has ‘Largest’ Success in Gas Discovery off Malaysia

April 21, 2013

Aren’t Newfield selling of their Malaysian assets? Anyone have change to spare?

Dateline 2013-04-03:

Newfield Exploration Co. (NFX), the U.S. oil producer exploring the sale of offshore assets, had what it called the “largest conventional exploratory success” in its history with a natural gas discovery off the coast of Malaysia.

The B-14 well encountered 1,585 feet (483 meters) of net natural gas in about 250 feet of water 50 miles (80 kilometers) offshore, The Woodlands, Texas-based company said in a statement today after the close of regular trading. Newfield operates Block SK 310 and has a 30 percent interest. Mitsubishi Corp. (8058) owns 30 percent and Petronas Carigali holds 40 percent, Newfield said.

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ROC Oil begins drilling of West Acis-2 well in Malaysia

April 20, 2013

From the Energy Business Review, dateline 2013-04-02:

Australia-based independent petroleum company ROC Oil announced that the drilling of West Acis-2 well has begun in the Balai Cluster Risk Service Contract (RSC), Malaysia.

The Balai Cluster RSC includes four fields, Balai, Bentara, West Acis and Spaoh.

West Acis-2 located in the West Acis field, offshore East Malaysia, is the fourth well being drilled in the pre-development phase drilling program in the Balai Cluster.

It will be drilled to a planned target total depth of about 2,440m subsea.

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RM12b petroleum royalty demand by Kelantan govt without basis – PMO Read more: RM12b petroleum royalty demand by Kelantan govt without basis – PMO

April 19, 2013

I saw this and wondered, what was PCSB Peninsular Malaysia Operations (PMO) doing, giving out press statements? Dateline 2013-04-02:

The RM12 billion petroleum royalty demand by the Kelantan government is not based on any reasonable grounds, said a statement issued by the Prime Minister’s Office (PMO) here today.

The statement said the demand not only was unreasonable from the legal standpoint but also technicalities related to activities for oil and gas extraction in the area concerned.

“According to the law, the state of Kelantan, just as the state of Terengganu and all other states in Peninsular Malaysia, only have rights to demand petroleum royalty if extraction of oil and gas is done not more than three nautical miles from the low tide line or the shore of the state concerned,” it said.

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