From Bernama: Hibiscus To Acquire 35 Pct Stake In Lime Petroleum For US$55 Million

November 9, 2011

Dateline 2010-10-25:

Hibiscus Petroleum Bhd, Malaysia’s first listed special-purpose acquisition company (SPAC), will acquire a 35 per cent equity in Lime Petroleum Plc (Lime) for US$55 million.

Its managing director, Dr Kenneth Pereira, said with the acquisition, Hibiscus is likely to enter the growth phase in the next financial year ending March 2013.

Under the proposed acquisition, Hibiscus’ role is to execute the work programme and manage the budget as well as activities for the current and future concessions of Lime, he told a press conference here today.

Pereira said the proposed acquisition comprised a share subscription agreement and a share purchase agreement, involving a 27.2 per cent stake in Lime for US$50 million and 7.8 per cent stake in Lime from Rex Oil and Gas Ltd for US$5 million.

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IEM Shout Out – Talk on An Overview of Heat Exchangers: The Industry Experience

November 8, 2011

This is a shout out for the IEM. My Technical Division will be  hosting a seminar on the 11th November, 2011. It’ll start at 9:00am and is worth 2 CPD hours. You still gotta climb those steps at Wisma IEM.

This is held in conjunction with our AGM. Please turn up for that as well.

The subject of Thermodynamics taught in college always refers to Heat Exchanger as the equipment to exchange heat. However, not many engineers post-graduation have the opportunity to work directly with Heat Exchangers. These Heat Exchangers are widely used in the industries, especially in the Oil & Gas facilities. There are various types of heat exchangers which are selected based on specific intended process requirement.

The talk will provide an overview on the types of heat exchangers commonly used in the Oil & Gas industry based on the Codes & Standards used during the design such as the Shell & Tube Heat Exchangers, Air-Cooled Heat Exchangers, Double Pipe Heat Exchangers and the Plate Heat Exchangers. This will be followed by an example of the fabrication processes, the common welding processes such as GTAW, SMAW, SAW and the main forming processes such as plate rolling and tube bending.

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Ir. Alzakri Ekhwan is a Principal Engineer for Static-Unfired Equipment at PETRONAS Penapisan (Melaka) Sdn. Bhd. (PP(M)SB), an oil refinery that handles 270,000 bbl per day of crude oil.  He graduated from University of Bath, UK in Mechanical Engineering in 1993 and has more than 18 years of experience in the design, fabrication, maintenance, inspection and construction of Static Equipment in the Oil and Gas industry.

Register here or download the form here. A map to Wisma IEM is presented here.

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Saturday Star 2011-11-05 – Job Opportunities

November 7, 2011

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.
  • Carigali Hess is looking for a Maintenance Engineer, Deck Foreman, QA/QC Engineer Projects. Email to job@carigalihess.com, indicating position applied for as subject of the email.
  • Talisman is looking for a Senior Technical Safety Engineer, HSE Engineer – Oil & Gas Support. Apply here, and visit their site.

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!” The more you use it, the better info I get in planning my journey round KL.

If you are fans of classic gaming, support those old time PC classics at Good Old Games. I wish they had a local setup here.

I see Maurice Stewart has some new books:
  

Gas Dehydration Field Manual, Gas Sweetening and Processing Field Manual, Gas-Liquid And Liquid-Liquid Separators

This week’s food recommendation is Padi restaurant in Taman Puchong Utama

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IEM Shout Out – Talk on Risk Sharing Contracts

November 6, 2011

This is a shout out for the IEM. My Technical Division will be  hosting a seminar on the 11th November, 2011. It’ll start at 12:00pm and is worth 2 CPD hours. You still gotta climb those steps at Wisma IEM.

This is held in conjunction with our AGM. Please turn up for that as well.

In a typical Risk-Sharing Contract (RSC), the responsibilities, roles and risks are allocated therein to the various parties and agent. RSCs maybe fashioned for projects that may be turnkey or Engineering, Procurement & Construction (EPC) in nature up to that of Project Delivery Partner (PDP).

That PDP typically endeavors to spell out i) Project Management Role ii) EPC Role; iii) Parties Risks and Rewards (with the proportionate Increase); and cover the following critical project parameters i) Development ii) Construction iii) Completion iv) Delivery v) Targets vi) Rewards; and vii) Losses. Other aspects typically treated under PDP i)Project Viability – “Strike Rate” ii)Site Possession iii) Ground Conditions – Employer/Contractor iv) Completion v) Delays vi)Performance Guarantees; and vii)Financing – Developer/Sponsor.

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Khem N Thadani holds an LL.M (University of Melbourne, Australia) and LL.B( University of Canterbury, New Zealand), and also an Advocate and Solicitor of High Court of Malaya, Barrister and Solicitor of High Court of New Zealand and Supreme Courts, Federal and High Court of Australia.

Register here or download the form here. A map to Wisma IEM is presented here.

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From Bernama: Oil & Gas Firms Advised To Be Cautious When Signing Contracts

November 5, 2011

Dateline 2010-10-29:

Malaysian oil and gas firms are advised to be cautious when signing the contracts, particularly on the technical and legal aspects.

Senior legal consultant of Straits Consulting Group, Primila Edward, said they must do their homework where parts of the technical and legal aspects were concerned.

“Negotiate the technical aspect specifications to ensure that they can minimise losses and damages.

“Legally, you need to cover your back with clauses that will actually stick in a certain sort of situation such as unexpected damages,” she said.

Edward said this in her paper, “Contractual Lessons Learnt from Deep Water Horizon” at the Oil and Gas Asia Pacific 2011 Conference here Thursday.

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From Bernama: Sabah-Sarawak Gas Pipeline Akin To PLUS: Don

November 4, 2011

You mean there will be a toll charge, crowded during holidays, and will continuously have repairs that restrict throughput? Jee, I hope they plan to make it six lanes…

Dateline 2010-10-23:

The RM4.6 billion Sabah-Sarawak gas pipeline project linking Kimanis in Sabah and Bintulu in Sarawak, expected to be completed by the end of 2013, will be as successful as the North-South Expressway (PLUS) linking the Peninsular Malaysia states, said a Universiti Putra Malaysia academic.

Faculty of Human Ecology deputy dean Prof Dr Jayum Jawan said the 512km pipeline, which will transport gas from the Sabah Oil and Gas Terminal in Kimanis to customers in Sabah and Petronas’ LNG complex in Bintulu, is the best example of a national project that could bring the people and business communities of Sabah and Sarawak closer to Peninsular Malaysia.

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From the Edge: Petronas licence needed for O&G upstream biz in Malaysia

November 3, 2011

But, but players involved in the new risk sharing contracts have engaged fabricators and design houses who not only don’t have PETRONAS licenses, heck they aren’t even in Malaysia. Seen how busy a neighboring country is? You know, the one which has hired a past PETRONAS president?

Dateline 2010-10-28:

Petroliam Nasional Bhd has categorically stated that all companies wishing to start or continue any business or service related to Malaysia’s oil and gas upstream operations and activities must apply for a licence from the national oil company.

Petronas said on Friday, Oct 28 that the policy, enforced under the regulations following the enactment of the Petroleum Development Act, 1974, has not changed, and “applies to all local and foreign companies, service providers and suppliers”.

It was responding to recent media reports claiming that Petronas had decided “to do away” with its licensing system for companies involved in Malaysia’s upstream O&G industry.

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Credit Cards and Airport Lounges – KLIA Plaza Premium Lounge

September 28, 2011

I think I’ll start a series on what credit card entitles you free entry to various airport lounges I encounter as I travel round the region building up the Empire of Wata.

(I take no responsibilities for errors. If your card isn’t accepted, bring along a thick book).

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From Free Malaysia Today – Dormant company gets RM5.8b LNG project

July 19, 2011

I’m dormant, why didn’t they pick me?

Dateline 2011-07-02:

The Perak DAP today lodged a report against the Barisan Nasional state government for misusing its power in awarding a RM5.8 billion project to a RM100 dormant company to import liquified natural gas (LNG) from Qatar.

The project is located in Segari, Manjung.

The report was lodged with the Malaysian Anti-Corruption Commission (MACC).

“This is a clear case of misuse of power by BN in giving this RM5.8 billion project to the RM100 dormant company named Atigas Technology Sdn Bhd,” party state deputy chief V Sivakumar said at a press conference. Also present were two other Pakatan members.

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From The Star – Bumi Armada’s shares in high demand

July 17, 2011

Change ‘shouldn’t’ to ‘will pay triple for to’, remove the subsidies altogether, create a zippy (doesn’t have to be efficient) public transport network, and I’ll be happier

Dateline 2011-07-02:

A cleverly-crafted fund raising exercise, offshore oil and gas services provider Bumi Armada Bhd’s initial public offering (IPO) has created an “artificially high demand” for the company’s shares amongst institutional investors in lieu of its flotation onto the Main Market of Bursa Malaysia this month, analysts and market observes say.

Market talk has been rife that Bumi Armada’s IPO has garnered strong interest from foreign and local institutional investors, with sources disclosing that the company saw its institutional offer 5.6 times oversubscribed on the first day its bookbuilding exercise, which had commenced on June 28 and is scheduled to close next Friday before the institutional price is determined on July 11.

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You can subscribe to an online version of the paper at the e-browse site. The site technology is a bit out of date. You have to use IE7-8 to pay for a subscription, and there is no app. How will I be able to read The Star on my Nokia N95?

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