BP to Sell Malaysian Assets to PETRONAS

September 4, 2010

And the Deepwater Horizon event spills over into Malaysia (pun intended).

Taken from the New York Times, dateline 2010-09-01:

BP said Wednesday that it would sell some of its Malaysian assets to Petronas, the country’s oil consortium, in a deal worth up to $411 million, as it begins to divest itself of businesses to recoup the costs of the Gulf oil spill.

The British oil giant said it was selling its stakes in Ethylene Malaysia and Polyethylene Malaysia, both already operated and part-owned by PETRONAS, which BP called their “natural owner.”

The deal with Petronas includes a $363 million cash payment, a $15 million balance sheet adjustment, the repayment of a $53 million shareholder loan, and potentially a special dividend of $48 million from Ethylene Malaysia.

The sale does not, however, signal that the company is departing from Asia.

I look forward to the day BP wins deep water acreage in Malaysia, then we know that all has been forgiven, lessons learnt loss, and that money speaks louder than pelagics (I’m a diver, so sue me).

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Samsung Eng wins US$770m Petronas deal

September 3, 2010

Is this the SOGT whose design & construction contracts has been open to all sorts of accusations, least of which is incompetence?

From the Business Times, dateline 2010-08-31:

Samsung Engineering will build an oil and gas terminal in Sabah to produce 300,000 barrels of oil and 1.25 billion cubic feet of gas per day

PETRONAS Carigali Sdn Bhd (6033) has awarded a US$770 million (RM2.4 billion) contract to Samsung Engineering to build an oil and gas terminal in Sabah.

The plant, which will produce 300,000 barrels of oil and 1.25 billion cubic feet of gas per day, will account for 40 per cent of Malaysia’s crude oil production.

Samsung Engineering president and chief executive officer Park Ki-Seok said the contract reflects the company’s excellent project performance and the clients’ trust in the hydrocarbon plant sector.

“With expanding market share in the GOSP (gas oil separation plant) field and about US$50 billion (RM157 billion) invested annually, we plan to continue our drive to diversify our market and products in all upstream hydrocarbon fields such as offshore projects,” Park said in a statement.

For the Sabah project, Samsung Engineering will lead the engineering, procurement, construction and commissioning work with local partner NCSB Engineering.

The plant is expected to be mechanically completed in December 2013.

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Aker Solutions Wins Kanowit Subsea Project Contract

September 1, 2010

Congratulations to Aker Solutions. Are they going to spread the Raya cheer?

Aker Solutions, through its subsidiary in Malaysia – Aker Process Systems Asia Pacific (APSAP), has been awarded two subsea contracts from PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), the company reported in a news release. The first is a work order to supply subsea production system and services for the Kanowit field, while the second is a contract to deliver 5600 metres of subsea umbilicals that tie back the Kanowit subsea wells to the Kumang Cluster, Offshore Bintulu, Sarawak, Malaysia.

The engineering, procurement and construction work order is valued at approximately RM147 million ($45 million).

This work order is the result of the frame agreement signed between APSAP and PETRONAS Carigali back in 2009 for the supply of a complete subsea production system and services for a period of three years or until the completion of the Kanowit project.

Under the scope of work for this work order, APSAP will complete the engineering and delivery of a subsea production system consisting of two subsea trees, wellheads, subsea control system, manifold with high integrity pressure protection system, pipeline-end manifold and all tie-in equipment. APSAP will utilise Aker Solutions’ high-tech manufacturing centre in the Port Klang Free Zone to deliver the project and the equipment. Delivery of the subsea hardware is scheduled for 2011.

Meanwhile, the second contract with an estimated value of RM17 million ($5 million) will cover project management, engineering, procurement and manufacturing of subsea steel tube umbilical and auxiliary equipment.

The subsea umbilical, which contains steel tubes and electric cable, will connect the host platform to the Kanowit subsea field. APSAP will be delivering the contract out of Aker Solutions’ purposed-built subsea umbilical facility in Moss, Norway. Delivery is expected to be completed by the second quarter of 2011.

The Kumang Cluster field located about 250km offshore Bintulu is operated by PETRONAS’ exploration and production subsidiary, PETRONAS Carigali. Phase 1 consists of F9, Kumang and Kanowit fields. It comprises a central processing platform (CPP) at Kanowit field (KAKG-A) and drilling platform for F9 (F9JT-A) and Kumang (KUJT-A). Once installed, the Kumang Cluster facilities are able to supply gas to MLNG-2 terminal in Bintulu.

Dave Hutchinson, president – Subsea Asia Pacific, Aker Solutions, says the success of this project is of high importance: “Kanowit is PETRONAS Carigali’s first subsea venture in Malaysian waters. It will be an important reference for future subsea jobs in Malaysia and a major milestone towards realising Malaysia as the regional deepwater centre for the oil and gas industry. Aker Solutions is honoured to be given a role in this transformation process. We are confident that we have the knowledge and skills that are vital to achieving the deepwater hub ambition together”.

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Saturday Star 2010-08-28 – Job Opportunities

August 30, 2010

Support me by purchasing my recommendations, or buying through my Amazon store.

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.

  • Murphy is looking for a technical development manager and a lead intervention engineer.  Send your applications here.
  • And Kebabangan Petroleum Operating Company (KPOC to friends) has a two-page spread. I presume they are now moving into detailed design / fabrication? Anyhow, the posts that they hope to fill are: Snr Construction Eng, Snr Commissioning Eng, Snr Process Engineer / Process Eng, Snr HSE Eng, Snr QA/QC Eng, Snr Welding Eng, Snr Metering Eng, Snr Contract Specialist, Engineering Coordinator, Planning Eng, Metering System Reliability Eng (not many of us around), Operational HSE analyst, Facilities Eng,Construction Supv, Offshore Production Supv, Offshore Maintenance Supv. Please apply here, or snail mail to: Kebabangan Petroleum Operating Comp Sdn Bhd, Level 52, Tower 2, PETRONAS Twin Towers, KLCC, 50088 KL, Malaysia.
  • Tasnee (based in KSA) is looking for a business planning eng, contracts eng, procurement eng, process safety eng, fire & safety eng, process eng, process control eng, engineer (mech, elec, instr, rotating, reliability, civil), inspection eng, operations specialist (Cracker/ UTOS /HDPE /LDPE /PDH), production engineer (PP/ PDH/ Cracker/ UTOS). Visit their website, or send your applications here, or snail mail to ThinkPlus Consulting Sdn Bhd, No 54-1-1 & 54-1-2, Jalan Medan Putra 3/62D, Medan Putra Business Centre, 52200 KL.

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Malaysia Oil And Gas Report Q4 2010 – New Market Report Published

August 29, 2010

Dateline 2010-08-26, taken from Officialwire:

The latest Malaysia Oil & Gas Report from BMI forecasts that the country will account for 1.78% of Asia Pacific regional oil demand by 2014, providing 8.50% of supply.

Regional oil use of 21.42mn b/d in 2001 is set to reach a forecast 27.15mn b/d in 2010, then to rise to around 30.21mn b/d by 2014.

Regional oil production was around 8.35mn b/d in 2001 and is forecast to average an estimated 8.82mn b/d in 2010. It is set to increase only slightly to 8.89mn b/d by 2014.

Oil imports are growing rapidly, because demand growth is outstripping the pace of supply expansion. In 2001 the region was importing an average 13.07mn b/d. This total will rise to a projected 18.32mn b/d in 2010 and is forecast to reach 21.32mn b/d by 2014. The principal importers will be China, Japan, India and South Korea. By 2014 the only net exporter will be Malaysia.

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Kuala Belait

August 27, 2010

I had some business in Kuala Belait, Brunei (I trust the clients were satisfied). It was the fasting month, and I was inside an office the whole of daylight hours, so I didn’t have many photo opportunities. The following photos were taken at the the sungkai prepared by Riviera Cafe.

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Saturday Star 2010-08-21 – Job Opportunities

August 23, 2010

Support me by purchasing my recommendations, or buying through my Amazon store.

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.

  • M3nergy is looking for General Manager – Operations, General Manager (Supply Chain Management), General Manager (Exploration and Production), General Manager (Quality, HSE). Send your qualifications here or snail mail to M3nergy Berhad, Central Services Division (Recruitment Section) 25th and 32nd Floor, Wisma UOA II, 21 Jalan Pinang, 50450 KL.

No food recommendations this week. I was in Brunei last week, and came to the conclusion that the buka puasa buffet is not well practiced in Kuala Belait. Can’t beat the price, though. Around B$9/pax was the most expensive one I found.

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From Bernama – Technip May Acquire Up To 9.9% Stake In MISC Unit

August 22, 2010

From Bernama, dateline 2010-08-20:

French oil services company, Technip SA, may take up to 9.9 per cent stake in MISC Bhd’s unit, Malaysia Marine and Heavy Engineering Holdings Bhd (MHB), which is en route for a listing on the Main Market of Bursa Malaysia.

In a filing with Bursa Malaysia, MISC said it has signed binding term sheet with Technip in relation to the strategic investment.

“Technip may take up 128 million units, or a maximum of 158.4 million ordinary shares of 50-sen each, in MHB. The quantum of shares will represent between eight and 9.9 per cent stake,” it said.

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Newfield Exploration Resumes Oil Production Following Pipeline Repair Offshore Malaysia

August 19, 2010

Ah, have the found the alleged vessel that dragged the pipeline? More importantly, have they found the captain’s body?  Or was it the kraken?

If you need flow assurance done on the pipeline after the repairs, you know who to call. If you want the pipeline re-certified, call the same people as well.

Dateline 2010-08-09, from PR Newswire:

Newfield Exploration Company (NYSE: NFX) today announced that oil production from its East Belumut Field, located on PM 323 offshore Malaysia, had resumed following repairs to a damaged export pipeline. Field production has been returned to more than 20,000 BOPD (gross).

The East Belumut field was offline for four weeks, following damage to an oil pipeline connecting the East Belumut platform on PM 323 to the Tinggi platform (located approximately 17 miles from East Belumut). The damage was caused by the activities of an unidentified marine vessel unrelated to Newfield’s operations. East Belumut is located approximately 160 miles offshore Peninsular Malaysia in 240 feet of water. Newfield operates PM 323 with a 60% interest.

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Pertamina starts overseas production

August 18, 2010

Taken from the Jakarta Post, dateline 2010-08-04:

State oil and gas firm PT Pertamina expects to double production at a Malaysian oil block, the company’s first overseas operation, to 12,000 barrels per day next year.

Dwi Martono, president director of PT Pertamina Hulu Energi, Pertamina’s subsidiary managing overseas operations, said the SK-305 block, which lies off the shores of Sarawak in Malaysia, began production on June 26, 2010.

“The current oil production rate is 6,000 bpd, but we expect to increase that to 12,000 bpd in 2011,” Dwi told reporters Tuesday.

He said the block also produced gas at a rate of 9 million standard cubic feet per day.

The gas production has the potential to increase to 40 MMSCFD, but Dwi said the current focus was to boost oil production.

Dwi said the SK-305 block was a major accomplishment in Pertamina’s history as it was the first up-and-running overseas block that the company had been involved in from the get go. “This is a milestone for us,” he said. The block, which covers 16,400 square kilometers, is located in waters up to 150 meters deep in Balingian Province off the coast of Sarawak.

…

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