We know what goes on in an engineer’s mind.
From Bernama – Optimisation Important for Profitability in Oil & Gas
March 25, 2011Dateline 2011-03-16:
The employment of optimising techniques and technologies that are cost efficient to safeguard profitability is crucial in the oil and gas sector, in particular with regard to the risk service contract (RSC).
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he employment of optimising techniques and technologies that are cost-efficient to safeguard profitability is crucial in the oil and gas sector, in particular with regard to the risk service contract (RSC).
The RSC is essentially a contract that significantly increases an operator’s risks of exposure, said ARC Media Global Pte Ltd in a statement today, in conjunction with the Production Optimisation Week Asia in Kuala Lumpur from July 25-29.
In this case, the awardees or the consortium bears almost all the operating risks and is not paid in the event that the project or system fails, ARC Media Global explained.
The optimising of production becomes more pertinent with the RSC to develop the Berantai field as Petronas imposes strict key performance indicators on deliverability, production and costs, it pointed out.
Petronas awarded a RSC to a consortium comprising Kencana Petroleum Bhd, SapuraCrest Petroleum Bhd and foreign partner Petrofac.
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From the Borneo Post – Viable energy source is natural gas – SAPP
March 24, 2011Dateline 2011-03-17:
Sabah Progressive Party (SAPP) strongly believes that the Malaysian government would put off any immediate plan to build nuclear power plants in the country following the catastrophic nuclear explosions in tsunami-ravaged northeastern Japan.
“With so much negative publicity generated by the Japanese Fukushima Daiichi nuclear power plants in the aftermath of the earthquake and tsunami, it is highly unlikely that the Malaysian government will proceed with any final decision to build nuclear power plants in the foreseeable future,” said SAPP president Datuk Yong Teck Lee yesterday.
He however cautioned that the people should be concerned about other nuclear plants which are dangerously near to Sabah should a nuclear accident happen.
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From the Star – Growth affected if oil prices are too high
March 23, 2011Imagine how the article would read if it started “Malaysia, as an oil IMPORTING nation…”
Dateline 2011-10-01:
Malaysia, as an oil exporting nation, stands to benefit as oil prices rise up to a certain point where super high oil prices would be more of a drag on the overall economy, said economists.
With oil prices averaging US$90 to US$100 per barrel, oil subsidies by the Government could increase to some RM14bil from RM10.3bil last year. As of Wednesday, Nymex crude oil was trading around the US$104 band.
This subsidy amount of RM14bil is still lower than subsidies in 2008, which amounted to some RM17.6bil.
Hydrocarbon Import and Export
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You can subscribe to an online version of the paper at the e-browse site.
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Saturday Star 2011-03-19 – Job Opportunities
March 21, 2011Support 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.
First off, 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.
- FPSO ventures are looking for an Offshore Installation Manger, Production Superintendent, Production Supervisor, Production Technician. Snail mail to FPSO Ventures Sdn Bhd, Level 9, Menara Perak, No. 24 Jalan Perak, 50450 Kuala Lumpur, or email them here.
- Talisman is looking for a Process Engineer (what happened to their old one?). Apply here, and visit their site.
Here are some ChemEng books selected by Amazon:
Troubleshooting Process Operations, 4th Edition, Process Technology Troubleshooting, Fundamentals of Natural Gas Processing, Second Edition (Dekker Mechanical Engineering)
4 Comments | engineering, Malaysia, oil and gas | Tagged: FPSO, FPSO Venture, Talisman | Permalink
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From the AFP – Malaysia’s Petronas post 74% rise in profits
March 20, 2011It seems that brownfield work will be the focus of the next quarter century.
Dateline 2011-03-02:
Malaysian state energy firm Petronas said oil prices would stay above $100 over the next few months as it posted a 74 percent jump in net profit, partly helped by the rising cost of crude.
In the three months ended December, the oil giant made 21.21 billion ringgit ($6.99 billion), compared with 12.19 billion a year earlier, while revenue rose 12 percent to 60.04 billion from 53.44 billion, it said in a statement.
But Malaysia’s biggest company warned it would need to start refurbishing or replacing some of its equipment, with many of its oil and gas producing assets between 19 and 28 years old.
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From The Star – Oil price upside risk for Malaysia
March 19, 2011Dateline 2011-03-01:
The price of crude oil which hit US$100 per barrel recently – its first time in more than two years – is an upside risk for Malaysia as a net exporter.What could stop the country from benefiting from its net exporter status is largely a relapse in the global economic recovery which would affect demand for the commodity.
“Higher oil prices amid strong global demand are an upside risk as Malaysia is a large net exporter of oil,” Nomura International (HK) Ltd told clients in a Feb 25 report.
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You can subscribe to an online version of the paper at the e-browse site.
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From Bernama – Labuan to Be Oil & Gas Hub
March 18, 2011Goody, another way for profits to be gained without paying the rakyat their due via taxes. How do I get into this scam?
Dateline 2011-02-26:
Labuan is being considered as a third oil and gas hub of Malaysia, after Teluk Ramunia and Pengerang in Johor, Datuk Seri Najib Tun Razak said.
The Prime Minister noted that the RM387 million Phase 2 undersea pipeline could support the oil and gas industries.
“We are still studying the matter (of giving Labuan the status). The Minister of Federal Territories and Urban Wellbeing has briefed me on the potential of the oil and gas sectors in Labuan,” he told reporters after opening a 1Malaysia clinic in Taman Mutiara here Saturday.
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Shout Out – Talk on Scientific Research Funding From The European Union
March 17, 2011This is a shout out for the IEM. My Technical Division will be hosting a talk on the 24th March, 2011. It’ll be at 5:30 pm (makan-makan at 5:00). You still gotta climb those steps at Wisma IEM.
The Seventh Framework Programme for research and technological development (FP7) is the European Union’s main instrument for funding research in Europe and beyond. FP7 is the result of years of consultation with the scientific community, research and policy making institutions, the business community and other interested parties.
Since their launch in 1984, the Framework Programmes have played a lead role in multidisciplinary research and cooperative activities in Europe and beyond. FP7 continues that task, and is both larger and more comprehensive than earlier Framework Programmes. Running from 2007 to 2013, the programme has a budget of 53.2 billion euros over its seven-year lifespan, the largest funding allocation yet for such programmes. Non European countries are usually eligible to apply, under certain conditions and up to around 30% of the FP7 budget may be spent outside Europe.
In addition, some 15% of the budget is earmarked for small medium enterprises (SMEs). This talk focuses on the Cooperation, and People elements of the FP7 with a particular emphasis on opportunities for SMEs, which are regarded as integral players in most FP7 collaborative projects. Indeed throughout FP7, SMEs will actively be encouraged to participate in all research actions, especially those under the Themes of the Cooperation programme and the People programme.
The Speaker, David Crowley is an International Business Development Executive for The University of Nottingham. With a background in International Finance and Business from Trinity College in Dublin, David also was Paul Henri Spaak Scholar at the Institute of European Studies in Brussels where he obtained his Masters degree in the Economics of the European Union (through French) and also spent time at the University of Maryland, USA.
Register here or download the form here. A map to Wisma IEM is presented here.
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Shout Out – Talk on Marine Loading Arms Project Experience
March 16, 2011This is a shout out for the IEM. My Technical Division will be hosting a talk on the 24th March, 2011. It’ll be at 9:30 am (makan-makan at 9:00). You still gotta climb those steps at Wisma IEM.
The talk will be a sharing of experience in the design and site execution of marine loading arms replacement project undertaken by the Technical & Facilities Development Division of PETRONAS Gas Bhd. (PGB) in year 2010. The loading arms are located at PGB’s Export Terminal in Kemaman, Terengganu and are used to transfer hydrocarbons from jetty to ships. The old loading arms have aged considerably after 20 years in service and the spare parts were difficult to source.
The Speaker, Ir. Ahmad Rafidi Mohayiddin is currently a Manager with PETRONAS Gas Berhad (PGB), a partially-owned subsidiary of PETRONAS. He is a mechanical engineer by training with 16 years of work experiences. He graduated with a BSc. in Mechanical Engineering from Northwestern University in 1994.
Register here or download the form here. A map to Wisma IEM is presented here.
And register for the welding course next week.
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Wata - Malaysian Oil and Gas Engineer 