Petroleum Fund another ploy to exploit Sabah oil

January 27, 2012

Free Malaysia Today has a lot of gripes against PETRONAS, don’t it?

Dateline 2012-01-19:

The proposal to set up a petroleum fund is a another way to tighten the stranglehold outsiders have over Sabah.

United Borneo Front (UBF), a Sabah based NGO, is dead against a proposal by Sabah PKR Secretary, Dr Roland Chia to set up such a fund.

UBF Campaign Director Edward Linggu said setting up the fund is not the “right solution”.

He noted that while only sketchy details were provided by Dr Roland, it appears that the proposed Petroleum Fund will be from Sabah’s oil and gas resources.

…

 

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Bernama – Petrofac Achieves First Oil At Sepat Offshore Early Production System

January 26, 2012

Dateline 2012-01-17:

Petrofac, the international oil and gas services provider, and its partners, Kencana HL and Bumi Armada, confirmed today first oil has been achieved at the SEPAT offshore early production system in the east coast of Peninsular Malaysia for Petronas Carigali Sdn Bhd.

The project, worth about US$280 million, involves engineering, procurement, construction, installation and commissioning for the full scope of the early production system in a 65-metre water depth.

The project comprises a mobile offshore production unit, a floating storage and offloading facility for the early production of about 20,000 barrels of oil per day, together with all interconnecting subsea pipelines, Petrofac said in a statement to Bernama.

…

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Japan’s Inpex wins stakes in two Malaysian oil prospects

January 25, 2012

Dateline 2012-01-17:

Japanese oil and gas explorer Inpex Corp has won stakes in two oil and gas exploration licences offshore Sabah from Petronas, Malaysia’s national oil company.

Petronas selected a four-year work programme Inpex had proposed to explore in deepwater blocks R and S, 180 km west and 120km northwest off the coast of Kota Kinabalu, an Inpex spokesman said.

Separately, Petronas said the minimum financial commitment for the two blocks are $123 million and $72 million respectively.

In Block S Inpex has a 75 percent interest and as the licence operator plans to drill two exploration wells in around 2014. The costs will be shared with Petronas, which has a 25 percent interest.

…

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Note-worthy Protocol

January 24, 2012

For good or bad, some compatriots in the O&G industry have involved themselves in the music scene. Let’s see, I know people in metal, malay, karaoke… anyone want to own up?

Dateline 2012-01-15:

EVERY weekday morning, members of rock band Kyoto Protocol put on their working clothes and head for the office. But when night falls, they change into washed-out shirts and shorts and head for a jamming session.
All five members (aged between 24 and 28) — Ahmad Fuad Alhabshi (vocals/guitar), Gael Oliveres (vocals /keyboard), Hairi Haneefa (guitar), Shakeil Bashir (bass/vocals) and Shanjeev Reddy (drums) — have good reason for keeping their day jobs.

“To be honest, the income from a day job frees us from feeling that we have to play what people want to hear and we can be truly creative with our music,” says Ahmad, also fondly known as Fuad.

He is a financial analyst, while Oliveres owns and manages a public relations company. Shakeil is a Masters student in Australia, Hairi is an engineer in the oil and gas industry …

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Pengerang Gearing Up to Become Regional Oil Storage Hub

January 17, 2012

Dateline 2012-01-13:

 

Earmarked as an up- and-coming oil storage hub for Asia, Johor’s Pengerang is expected to see a step up in activities this year, with Malaysian companies led by Petronas committed to investing tens of billions of ringgit there.

 

A RM5 billion (S$2.05 billion) independent deepwater petroleum terminal (IDPT) project by a Dialog- Royal Vopak joint venture has already gotten off the ground, 5 per cent of the first phase completed as at December.

 

It will deliver an initial 1.3 million cubic metres (cbm) of storage with seven vessel berths when commissioned in 2014. The IDPT will offer five million cbm storage when fully completed over 10 years.

 

An integrated specialist technical services provider in the oil and gas and petrochemicals industry, Dialog has a 60-year exclusive mandate to develop the IDPT by the Johor state government which also has a stake in the project. Petronas is expected to be the terminal’s main client.

 

Pengerang has distinct advantages as an IDPT because its 24-metre deepwater jetty facilities can accommodate VLCCs and ULCCs, allowing tankers to collect or deliver crude oil without a costly buoy mooring system.

…


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Saturday Star 2012-01-14 – Job Opportunities

January 16, 2012

Support me by purchasing my recommendations, or buying through my Amazon store. I need the money to pay for running this site. Corporate level sponsors are encouraged.

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.
  • Talisman is looking for a Senior Process Engineer (again?), Operation Engineer, Buyer. Apply here, and visit their site.
  • Nothing else this week. Or I missed it. Sorry, kinda busy

May I suggest that readers install the Waze app on their phones? And use it as much as possible? It says its a “a social mobile application providing free turn-by-turn navigation based on the live conditions of the road. 100% powered by users, the more you drive, the better it gets. Join the community of drivers in your area today!” It’s definitely getting better for the Klang Valley area, though we need more users from East Malaysia.

Support your local bookshop! Visit Bookalicious at The Summit Subang, good selection of imported books. I think they focus on trilogies, quadrilogies, and otherologies. Tell them I sent you, and enjoy the look of perplexity on their faces

Let’s talk a bit about deepwater books:

  

Deepwater Petroleum Exploration & Production, A Sea in Flames, Disaster on The Horizon

My food recommendation? Gotta be Jaffa Cakes this week. If I can get a standing order for them, let me know.

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Petron gets go-signal to invest in Esso Malaysia Bhd

January 15, 2012

Dateline 2012-01-11:

Petron Corp., the country’s largest oil refiner and retailer, has gotten the go-signal to pursue its planned investments in Esso Malaysia Bhd., a subsidiary of Exxon Mobil Corp. for its downstream oil business in Malaysia.

In a disclosure to the Philippine Stock Exchange, Petron said that its executive committee approved on Wednesday the company’s investment in Esso but did not reveal the final investment figures. The oil firm said that the amount and percentage sharing have yet to be determined.

In a text message, Petron president Eric O. Recto said the oil company has not determined how it would make its investments in Esso—whether it would acquire only a portion or the entire 65-percent stake in Esso, now owned by highly diversified conglomerate San Miguel Corp.

San Miguel also owns 68 percent of Petron.

…

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From The Star – Petronas to catalyse oil and gas industry

January 14, 2012

Dateline 2012-01-05:

 Malaysia’s oil and gas (O&G) sector is set for exciting days ahead as national oil company Petroliam Nasional Bhd (Petronas) prepares to dish out more contracts this year and commence mega projects, according to HwangDBS Vickers Research.

“We expect Malaysia’s O&G upcycle to start in 2012 with Petronas going full throttle to sustain oil production. Petronas’ record RM300bil five-year capital expenditure will be a strong re-rating catalyst for Malaysian O&G players.

…

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From the Star – Hibiscus active on rumours of more concessions

January 13, 2012

Dateline 2012-01-04:

Malaysia’s first listed special-purpose acquisition company, Hibiscus Petroleum Bhd, saw active trading on its first trading day of the year, with both the mother and warrant shares gaining 22.5 sen and 6.5 sen to RM1.17 and 59.5 sen respectively.

While both shares were heavily traded on the volumes list, Hibiscus warrant was the top traded stock of the day, with 96.27 million changing hands. The mother share saw 33.8 million being traded.

..

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From Sinchew – O&G upcycle to begin this year: HwangDBS

January 12, 2012

Dateline 2012-01-04:

Malaysia’s oil and gas (O&G) upcycle will start in 2012 with Petronas going full throttle to sustain oil production, according to a research house.

HwangDBS Vickers Research said the national oil company’s record RM300 billion capital spending over five years would be a strong re-rating catalyst for domestic O&G players.

“Critical gas shortage in the country has also prompted Petronas to fast-track upstream activities, which will benefit local players,” it said in a note today.

…

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