Saturday Star 2015-12-26– Job Opportunities

December 28, 2015

Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I’m looking for jobs for 1Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Paper’s taking a day off.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Anything halal in Bali

During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.

The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

SapuraKencana’s gas venture gets off the ground

December 27, 2015

Dateline 2015-11-25 , The Edge:

LAST Wednesday, oil and gas outfit SapuraKencana Petroleum Bhd announced that it had received the green light from Petroliam Nasional Bhd (Petronas) for a field development plan (FDP) for the SK310 B15 gas project off Sarawak.

Shahril: We will have clear visibility of the cash flow once the development of these discoveries commences

The announcement, however, did not have the expected impact on the stock, which shed seven sen to close at RM2.19 last Thursday.

Naturally, SapuraKencana will not see any contribution from the development of the gas field in the near term, but it is likely to become a fresh recurring income source for the group in two years.

The share price had in fact rebounded from a historical low of RM1.47 recorded on Aug 25, gaining more than 50% — that is  until last Thursday — possibly buoyed by the impending news of the FDP.

President and CEO Tan Sri Shahril Shamsuddin tells The Edge: “This is a significant milestone as we will begin the monetisation of the seven gas discoveries we have to date off Sarawak. First gas is expected to flow in the final quarter of 2017 and we will see healthy cash contributions over the life of this development.

…

 

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Over RM300 billion invested in Sarawak, says Petronas subsidiary chief

December 26, 2015

Dateline 2015-11-22, TMI:

Petrolian Nasional Bhd (Petronas) has a strong presence in Sarawak, with total cumulative investment of over RM300 billion in the upstream, midstream and downstream projects and activities, said LNG Group of Companies vice-president and chief executive officer (CEO) Dzafri Sham Ahmad.

He said for upstream, there were 60 oil and gas producing fields – 26 oil and 34 gas – producing an average of 850 kilo barrel oil equivalent per day (kboe/d).

“Additionally there are another 206 discovered fields which are yet to be monetised,” he said at the Petronas Media Nite 2015 in Kuching last night.

He said for midstream there were three facilities – Petronas LNG Complex in Bintulu; Petronas Train 9 project; and, the floating LNG facility.
For downstream, he said, there were currently two operating units in the state — Asean Bintulu Fertiliser plant which produced 0.6 million tonnes per annum (MPTA) of urea, making it Asia’s largest granular urea plant and 0.4 MTPA of ammonia.

…

 

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Posted by Wata

Saving oil wealth for future generations

December 25, 2015

Dateline 2015-11-21, TMI:

The Edge weekly in its latest edition raised the question whether enough has been done to ensure Malaysia’s oil wealth lasts after the wells run dry, and if establishing a special oil fund is the answer to the conundrum.

In its cover story, the Edge’s Cindy Yeap wrote that Malaysia is blessed with rich biodiversity and natural resources — from minerals such as tin to crude oil and liquefied natural gas (LNG) reserves.

The magazine said the country’s oil and gas riches have fuelled the growth of national oil corporation Petroliam Nasional Bhd (Petronas), which last year was ranked 68th on the Fortune 500 list of the world’s largest companies.

It said that from its inception in 1974 to end-2014, Petronas had contributed RM881.3 billion in dividends, taxes, royalties and duties to federal and state coffers, according to company data.

…

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Posted by Wata

Sabah’s O&G industry needs 25,000 skilled workers: UMS

December 24, 2015

Dateline 2015-11-20, Daily Express:

Sabah’s oil and gas industry needs about 25,000 skilled workers at a high-end level right up to managerial level. Universiti Malaysia Sabah (UMS) Faculty of Engineering Dean Prof. Dr Rosalam Sarbatly, who disclosed this, said there is a huge shortage of skilled manpower in the industry as several oil and gas projects in the State have to import such workers from overseas to cater to their manpower needs.

“The percentage of locals with those high-end skills for the oil and gas industry in Sabah is very small whereby we are lacking local manpower in high-tech skills such as those concerning seismic and underwater tasks.

“However, about 70 per cent of locals are in the low-end technical skills like blasting, painting and coating.

“That is why UMS came into the picture and is collaborating with certain bodies that issue internationally recognised certifications so as to address the shortage in high-tech skills,” he said.

…

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Posted by Wata

Shout Out – Two-Day Course On SIL Training for Team Members – A Practical Approach

December 22, 2015

My technical division will be hosting a 2 day course on the 12th and 13th January, 2016. It is worth 13 CPD points, and held at Wisma IEM. Since I’m giving it, I expect hoards will have to be turned away at the gates. And it’s a big room, so I need to fill the seats. It is two days, ignore the typo.

In the Layer of Protection methodology, a Safety Instrumented Function (SIF) designed to eliminate the cause of a risk or minimize the consequence of an event. The expectation of the SIF’s reliability to perform upon demand must be defined so that it is designed appropriately. The Safety Integrity Level (SIL) study is a tool used this.

This full day course is designed to educate participants in the SIL process from the perspective of a SIL team member. It is meant to provide both instruction and workshop sessions so that the participants:

  • Are familiar with the concept of ‘risk’
  • Are familiar with the theory and terminology behind Layers of Protection, SIS, SIF, SIL and LOPA
  • Are familiar with the different SIL methodologies: risk graph, risk matrix, LOPA.
  • Have expectations as to what the SIL workshop will (and won’t) provide.
  • Understand what deliverables can be expected from a SIL workshop.
  • Have the opportunity to participate in SIL exercise in a safe environment.Opportunity to share SIL experiences.

Wata has 19 years of experience in the oil and gas industry, in both design and operations.

Register here, or download the form here.

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Posted by Wata

Driving PETRONAS

December 22, 2015

What mega projects?

Dateline 2015-11-15, NST:

PETRONAS president and group chief executive officer (CEO) Datuk Wan Zulkiflee Wan Ariffin often talked about the need for oil and gas companies to “recalibrate” themselves in the midst of the oil and gas price doldrums.

With the global energy market outlook remaining hazy, companies, including Petronas, have to stick with a prudent and conservative budget. Managing cash flow is the main priority.

Announcing Petronas’s third-quarter financial results last week, the affable Wan Zul was frank when speaking about the challenges facing Petronas and the industry. \

But, did Petronas overextend itself with three mega oil and gas projects, as some have suggested?

Analysts and senior oil executives disagree, saying Petronas needs to invest for the future to take advantage of any industry upturn.

…

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Posted by Wata

Saturday Star 2015-12-19– Job Opportunities

December 21, 2015

Woo Hoo, Star Wars (enough said). Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I’m looking for jobs for 1Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Nothing much in the news. Were you expecting jobs galore? Have you not seent the number of layoffs last week?

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Anything halal in Bali

During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.

The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Malaysian oil and gas players earnings at risk

December 20, 2015

Dateline 2015-11-13, The Star:

Petroliam Nasional Bhd’s (Petronas) poor performance and sober prediction for the oil and gas industry next year spell a challenging outlook for the industry players with earnings at risk.

Analysts are underweight on the sector for 2016, with some pointing out that preservation of cashflow would be key as Petronas cuts down on its spending.

UOB KayHian Research, which has an “underweight” call on the sector, said Petronas would need to continuously readjust its capital priorities, which might further defer upstream activities.

…

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Posted by Wata

Malaysia’s slashed oil dividend is still too high

December 19, 2015

Dateline 2015-11-12, Reuters:

Austerity measures at Malaysia’s oil giant will need to go further. Low oil prices have forced Petronas to cut the dividend it will pay next year to the government by almost 40 percent. That’s painful for a country that depends on the state-owned group for around one third of federal revenue. But unless it takes wider action, Petronas will still need to dip into its cash reserves to fund the commitment.

Petronas has decided to lower its payout to 16 billion ringgit ($3.7 billion) in 2016 after Brent crude averaged just $50 per barrel during the quarter that ended in September. To put that in perspective, the group’s total contribution to state coffers -including corporate taxes and other royalties – added up to around 68 billion ringgit in 2014.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

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