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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Lee: Miri should be centre of oil and gas industry in Malaysia

October 21, 2016

Reeeaaaaaally?

Dateline 2016-09-08, Borneo Post:

Miri should be made the centre of oil and gas industry in the country because it is the birth place of the industry over 100 years ago.

Assistant Minister for Tourism Datuk Lee Kim Shin said it was high time Petronas acknowledged this fact and this was among issues that had to be addressed by the oil and gas company in order to be more practical.

“Sarawakians have the longest experience in the oil and gas industry in Malaysia; having been in the industry for over 100 years. This is a fact. Petronas must recognise the fact that the oil and gas industry started in Sarawak in 1910.

“The industry started in Miri, so it is only logical that Petronas gives more attention and focus on oil and gas development in Sarawak,” he said during the launch of Oceancare Corporation Sdn Bhd’s (OCSB) Rope Access Training Centre in Piasau yesterday.

Its president Datuk Nelson Balang Rining was also present.

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INSTEP: Transforming the Landscape of Technical Learning, Certification

October 20, 2016

Dateline 2016-09-05, Rigzone:

Institut Teknologi Petroleum PETRONAS (INSTEP) is a state-of-the-art technical training institute owned by PETRONAS Technical Training Sdn Bhd (PTTSB). Established in 1981, INSTEP was set-up with the aim to accelerate human capital development to support the growth of PETRONAS as well as Malaysia’s oil & gas industry. Currently, the training institute also serves international clients from more than 15 countries as part of its aspiration to be “A Leading Partner of Choice in Oil and Gas Technical Learning and Certification”.

INSTEP’s learning experience and module offerings have since transformed with the launch of the integrated Upstream Downstream Training Plant (UDTP) on March 27, 2014, making a phenomenal shift in learning. Unlike a commercial plant, the UDTP, first of its kind in the world, simulates real plant scenario to enhance the competency of learners through hands-on training and experiential learning for safe, efficient and responsible exploitation of hydrocarbon resources.

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Saturday Star 2016-10-15– Job Opportunities

October 17, 2016

Happy Kuala Belait 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 have a feeling that The Star isn’t the preferred O&G job recruitment portal now. I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 4Q2016. 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

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Sarawak says ‘not in picture’ over Petronas’ oil production share with foreign firms

October 15, 2016

Dateline 2016-08-28, Malay Mail Online:

The Sarawak government said it is in the dark about Petronas’ production sharing contracts (PSCs) award to Thai and Kuwaiti companies to jointly explore a block of petroleum resource off the state’s coast.

Sarawak Chief Minister Tan Sri Adenan Satem repeatedly said he did not have any knowledge of the matter when questioned about Block SK410B, said to be located in shallow waters off the state’s coast, The Borneo Post reported today.

“I don’t know about this matter, so cannot make any comments,” he told a news conference in Kuching yesterday, even after being informed that Thailand’s PTTEP HK Offshore Ltd and Kuwait’s Kufpec Malaysia Sdn Bhd would hold 42.5 per cent respectively, while Petronas Carigali Sdn Bhd would hold only 15 per cent of the PSC.

The award was reportedly inked on July 21.

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Oil price volatility continue to impact PETRONAS

October 13, 2016

Dateline 2016-08-22, Automotive World:

PETRONAS has recorded RM17.7 billion in Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), an improvement of 14 per cent from the first quarter of 2016.

Cash flows from operating activities also rose by 64 per cent from RM9.7 billion in the first quarter of 2016 to RM15.9 billion.

The quarter-on-quarter improvements partly resulted from the Group’s transformation efforts and continuous drive to reduce cost, improve efficiency in cash management and sustain world-class operational performance in the current industry environment.

However, volatile oil prices coupled by oversupply and lagging growth demand continued to impact the Group’s half year performance as compared to the same period last year.

Group pre-tax profit for the half-year ended 30 June 2016 (after taking into account impairments) amounted to RM10.0 billion, a 68 per cent drop from RM31.6 billion achieved in the same period of 2015.

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Malaysia’s Petronas Posts 96% Profit Drop on Lower Oil Price

October 11, 2016

Dateline 2016-08-22, Reuters:

Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) on Monday said low oil prices dragged quarterly profit down 85 percent, and labelled the industry outlook “gloomy” well into 2017.

Petronas has seen a global slump in oil prices squeeze finances, which make up a third of Malaysia’s oil and gas revenue. The benchmark Brent futures LCOc1 price, which hit a 12-year low earlier this year, rose 25 percent in the second quarter but remains lower than a year earlier.

“We should expect to see volatility continue and Petronas will not bank on optimistic oil prices to ease up on pressure,” President and Chief Executive Wan Zulkiflee Wan Ariffin said at a news conference.

“The combined factors of oversupply, growing inventories and slower demand growth point to an ongoing gloomy outlook well into 2017.”

Wan Zulkiflee said Petronas planned for an average price this year of $30 a barrel, unchanged from its February forecast. Brent crude, after a recent rally, traded at $49.50 at 1021 GMT.

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