Bad days for national oil companies to continue, Fitch says

November 5, 2016

Dateline 2016-09-21, Zee Biz:

The National Oil Companies (NOCs) in South and South-East Asia unlikely to return to positive free cash generation in the next two years, said a Fitch Ratings report.

Most of the NOCs reported poor financial result for the first half or first quarter ended on June 30 due to a fall in average oil and gas prices from a year ago. Revenue and EBITDA declined over this period for Malaysia’s Petroliam Nasional Berhad (PETRONAS); Thailand’s PTT Public Company Limited; and India’s Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited.

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Petronas’ oil rig-making unit stays in the red for fourth straight quarter

November 4, 2016

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the company said. Quarterly revenue fell nearly 24% year-on-year to 333.5 million ringgit from 436.3 million ringgit.

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Malaysian Energy Firm Petronas Plans Several Hundred More Job Cuts

November 3, 2016

Out of date, but be scared.

Dateline 2016-09-20, Wall Street Journal:

Malaysia’s national oil company is looking to cut several hundred more jobs as it continues to grapple with weak oil prices, according to two people familiar with the matter.

Petroliam Nasional Bhd., known as Petronas, is planning the job cuts at its publicly listed operations, according to the people.

The company, which provides most of the government’s oil and gas revenue, said in March that it was cutting 1,000 jobs. This came after Petronas said it would slash spending by some $11.4 billion over the next four years, following similar moves by major global oil companies including Royal Dutch Shell PLC facing the crude-price downturn.

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Marketing Rounds – KSB

November 2, 2016

Nowadays, KSB is the launch pad for many offshore destinations. Bring a blankey. And you can take the bus to Kemaman from in front of IGL offices.

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Shout Out – One-Day Course on Safety Integrity Levels (SIL) 2016-11 Training For Workshop Participants

November 1, 2016

My technical division will be hosting a 1 day seminar on the 15th November, 2016. It is worth 6.5 CPD points, and held at Hilton Hotel. 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.

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

Malaysian Energy Firm Petronas Plans Several Hundred More Job Cuts

October 29, 2016

Dateline 2016-09-20, WSJ:

Malaysia’s national oil company is looking to cut several hundred more jobs as it continues to grapple with weak oil prices, according to two people familiar with the matter.

Petroliam Nasional Bhd., known as Petronas, is planning the job cuts at its publicly listed operations, according to the people.

The company, which provides most of the government’s oil and gas revenue, said in March that it was cutting 1,000 jobs. This came after Petronas said it would slash spending by some $11.4 billion over the next four years, following similar moves by major global oil companies including Royal Dutch Shell PLC facing the crude-price downturn.

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SPG wants more S’wakians involved in oil & gas industry

October 28, 2016

Dateline 2016-09-15, FMT:

The Suarah Petroleum Group (SPG) is standing firmly behind Sarawak Chief Minister Adenan Satem in pushing for greater Sarawakian participation in the petroleum industry in the state.

Made up of Sarawakian oil and gas professionals, SPG said that while they acknowledged that the State Secretary has been recently nominated to sit on Petronas’s Board of Directors, more should be done.

“…SPG firmly believes that it is high time the State’s petroleum resources be developed by its own petroleum corporation, to ensure that the Chief Minister’s vision of meaningful participation becomes a reality,” it said in an article by the group’s Education, Leadership and Talent Development Bureau, entitled “A Short History of Petroleum in Sarawak.”

SPG argued that there was enough local and global talent in the state to successfully operate and manage the petroleum industry and added, “At the same time, this will allow Sarawak to develop its own ‘Talent Pipeline’ to ensure the sustainable growth and progress of the industry in the state and for the nation.”

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PM: I was once a junior executive in Petronas

October 27, 2016

Dateline 2016-09-16, Malay Mail:

Prime Minister Datuk Seri Najib Tun Razak today spoke on his experience working as a junior executive with national oil corporation Petronas after his tertiary education.

He said at the time, Petronas had just started operations in 1974 under a very different environment and generation.

A foreign multi-national company had become dominant in oil and gas exploitation in the country then, he said.

“This was so much so that Miri was even referred to as the Shell town,” he said when addressing some 1,000 Petronas employees at a special Malaysia Day gathering at the Bintulu Civic centre here.

He said, however, the country’s leaders like his late father Tun Abdul Razak who was then the prime minister and others decided to change this.

“The nation had achieved its political independence and they then decided to go for its economic independence.

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Sabah ideal Far East hub: CM

October 25, 2016

Dateline 2016-09-15, Daily Express:

Sabah has what it takes to attract investors, both locals and foreigners, in its vision to become the hub for the Far East, said Chief Minister Datuk Seri Musa Aman.

He said the State is blessed with an abundance of natural resources, rich biodiversity and is in a strategic location within a region of strong vibrant economies.

“Sabah is increasingly becoming an attractive destination for meetings, incentives, conventions and exhibitions (MICE) activities not just for the Brunei Indonesia Malaysia Philippines – East Asean Growth Area (Bimp-Eaga) region but for other emerging markets in this region.

“With the completion of the Sabah International Convention Centre in a few years time, we can expect an increase in MICE activities in the city,” he said during the opening of the Sabah International Expo 2016 (SIE 2016) and welcoming dinner, here. His speech was delivered by Deputy Chief Minister cum Industrial Development Minister Datuk Raymond Tan.

Musa also said SIE is an important event for Sabah as “we continue to restructure and diversify our economy from merely depending on primary exports to one that focuses on the importance of adding value to products and services, and is knowledge-driven.”

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Malaysian oil and gas hub materializes as Malikai nears production

October 23, 2016

Dateline 2016-09-12, Offshore:

Shell recently celebrated several major milestones for Malikai as it moves closer to entering production, when it will become the company’s second operated deepwater project in Malaysia after Gumusut-Kakap.

In June, the Technip-Malaysia Marine and Heavy Engineering (MMHE) joint venture (TMJV), contracted by Shell in February 2013, concluded onshore fabrication and commissioning operations. The 27,500-metric ton TLP then began its 1,400-km (870-mi) excursion from the MMHE West fabrication yard at Pasir Gudang in Peninsular Malaysia to the Malikai field, which lies in the South China Sea some 100 km (62 mi) off Sabah.

The TLP was transported by the Dockwise heavy-lift vessel White Marlin, according to fellow contractor InterMoor, which was responsible for the marine aspects of its float-off and tow.

These milestones behind it, a spokesperson for Shell based in Kuala Lumpur recently told Offshorethat it anticipates first oil in 2017.

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