Challenging year for oil and gas industries

June 3, 2016

I would have added a few more swear words in the title, but hey.

Dateline 2016-04-27, The Star:

HE year 2016 will be one marked with challenges for the oil and gas (O&G) industry, with slower progress in the upstream sector, according to the National Transformation Programme (NTP) annual report 2015.

The industry is no stranger to trying conditions, having gone through a similar cycle when oil prices went down below US$10 per barrel in 1998.

The difference this time around is that the industry and the players are better positioned to face uncertainties, having built competency and capacity over the years.

As an upside, the current situation creates a stronger impetus for O&G players to take measures that will inevitably strengthen their operations and help them create resilience against volatilities and unexpected industry developments.

…

 

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

Saturday Star 2016-05-28– Job Opportunities

May 31, 2016

Sorry I’m late, been offshore, lousy internet, but hey, better than no internet

Happy Visit Surabaya week. Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). 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.

  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • I’m looking for fresh meat-ish, to help with a peak work period.
  • I’m looking for jobs for 3Q2016. Send me your POs.

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? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

2 Comments | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Petronas’ royalties increased 60 folds – CM

May 31, 2016

Dateline 2016-04-22, Borneo Post:

ROYALTIES paid by Petronas to Sabah has increased by 60 folds over the last four decades.

Chief Minister Datuk Seri Musa Aman in his Ministry of Finance’s winding up speech yesterday said although the rate of the royalty given to Sabah had not been revised, the revenue given back to the State had continued to increase year by year.

“The royalty received by Sabah for the oil extracted from its waters was only RM15 million in 1976 and has increased to about RM900 million in the recent years,” he told the State Assembly sitting yesterday.

However, he said the state government wanted the benefits Sabah could derive from the oil and gas industry developed on its soil to not be limited to only royalties.

He stressed that projects such the Sabah Oil and Gas Terminal (SOGT) and the Sipitang Oil and Gas Industrial Park (SOGIP) are capable of providing various employment opportunities and spillover effects that will serve as a catalyst for Sabah economic development.

…

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

The Three Numbers That Swell Petronas Gas Berhad

May 29, 2016

Go subscribe to The Motley Fool. I read some of their past papers, and was impressed. No, I am not making any money from them.

Dateline 2016-04-21, Motley Fool:

Petroliam Nasional Berhad, or PETRONAS for short, has over 100 subsidiaries. Petronas Gas Berhad (KLCE: PETGAS; 6033.KL), which is valued at MYR43 billion, is one of them.

The company processes and transmits gas to its parent, PETRONAS, and also to its own customers. Apart from being one of Malaysia’s ten largest listed businesses, Petronas Gas also boasts one of the highest Returns on Equity (RoE) on the market.

Its RoE of 17.7% implies that the Petronas Gas generated MYR17.70 on every MYR100 of money invested in the company. The median RoE for the Malaysian market is closer to 10%.

Petronas Gas’ high Return on Equity can be traced to its impressive Net Income Margin of 44.6%. It means that the gas infrastructure company produced MYR44.60 on every MYR100 of revenues. By comparison, stablemate Petronas Chemicals Group (KLSE: PCHEM; 5183.KL) generated MYR20.50 on every MYR100 of sales.

…

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

SapuraKencana forced to restructure amid weak oil price

May 26, 2016

Bit early to restructure, ain’t it, after being profitable since going public?

Dateline 2016-04-16, Nikkei:

Malaysia’s largest oil and gas company by market capitalization will undertake a restructuring exercise effective June 1, that may involve “redundancies.”

The region’s oil and gas industry, including rig builders is suffering from a serious supply glut as oil producers cut spending on exploration and production in the face of weak oil prices. The so-called “rightsizing” of the industry’s operations is likely to continue.

SapuraKencana Petroleum‘s revelation comes less than a month after the oilfield services company announced a net loss of 791 million ringgit ($202.4 million) for the fiscal year through January. The loss, its first since going public in May 2012, was largely attributed to having to set aside higher provisions for the asset impairment setbacks it is suffering due to the commodities swoon that began in the second half of 2014.

…

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

Stay 500 metres away from oil rigs

May 24, 2016

You talking to us divers?

Dateline 2016-04-10, Borneo Post:

Fishermen have been advised to keep the safe distance or safe zone of 500 metres from oil rigs for their safety when out fishing in deepwater, said Marine Operations Force Sabah/Labuan Commander, ACP Mohamad Madun.

Fishing within the 500-metre safe distance of oil rigs would not only endanger fishermen but also offshore workers, he said.

“The 500-metre safe distance is based on standard SOP which must be observed and abided by all sea users such as fishermen, tour guides and fishing hobbyists.

“This is to ensure the public’s safety as well as safety of crewmembers working in oil rigs,” he said at a press conference during a dialog with local fishermen at SK Pulau Gaya yesterday.

Also present were Petronas General Manager of Sabah and Labuan Regional Office Julita Ontol and SK Pulau Gaya principal Jasmen Elahan.

…

 

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

Saturday Star 2016-05-21– Job Opportunities

May 23, 2016

Happy Visit Banjarmasin week. Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). 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.

  • Enquest is looking for a senior production engineer, Maximo support engineer,  instrument engineer, rotating equipment engineer. Send an email here.
  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • I’m looking for fresh meat-ish, to help with a peak word period.
  • I’m looking for jobs for 3Q2016. Send me your POs.

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? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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

Sabah govt denies oil and gas project in Kudat

May 19, 2016

For you speculators.

Dateline 2016-04-04, The Star:

The Sabah government has denied a claim that an oil and gas project has been earmarked for Kampung Limau Limauan, Kudat.

Dismissing reports, State Deputy Chief Minister Datuk Raymond Tan Shu Kiah (pic) said even though a 485-hectare site had been allocated for an industrial development in Kudat, the state government had not made any decision to develop any o and g projects in the area.

“The state government or any of its agencies has not given any approval to Borneo Petroleum  and  Petrochemical Sdn Bhd (BPP) to undertake any form of development on the land.

“A claim made by BPP that it is working in partnership with the Sabah Economic Development Corporation (Sedco) is false.

…

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

Shout Out – Talk on “Enhanced Oil Recovery in Malaysia – Challenges”

May 17, 2016

My technical division will be hosting a talk on the 18th May, 2016. It is worth 2 CPD points, and held at Wisma IEM. The talk will be presented by Ir. Razak Yakob. Please come, or I’ll be beaten up in a dark alley.

In order to sustain the local production EOR is one of the major agenda in our Economic Transformation Program.  It is one of the 13 Entry Points Project that supports the Oil, Gas and Energy NKEA (National Key Economic Areas).  Even with the high recovery factor, EOR is still a very challenging program to be implemented in Malaysia due to the offshore environment, formation characteristics, high investment cost, and expertise availability.  This talk shall focus on sharing the knowledge of what EOR is and the challenges of implementing it in Malaysia.

Ir. Razak Yakob was the Well Delivery Manager for the Enhanced Oil Recovery Centre (EORC) in 2012/2013. He was also the Senior Drilling Engineer for a Risk Service Contract Project in 2014/2015.  Razak has been in the oil and gas industry for 19 years working for companies such as ExxonMobil, Halliburton, Talisman Energy, Petronas Carigali and EQ Petroleum/Uzma Engineering.

His core expertise is in Drilling Engineering with the working experiences spanning from development and exploration, technical support, training, competency development, finance and consultancy. As an independent consultant, he has worked in many parts of the world. He was a graduate of Colorado School of Mines in the United States with a degree majoring in Petroleum Engineering and a minor in Mechanical Design.

Register here, or download the form here.

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

Saturday Star 2016-05-14– Job Opportunities

May 16, 2016

Happy Visit Banjarmasin week. Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). 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.

  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • I’m looking for jobs for 3Q2016. Send me your POs.
  • Nothing in the papers this 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? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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

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