State sets up oil and gas committee

August 29, 2015

Dateline 2015-07-20, Borneo Post:

The state government has approved the setting up of a Sarawak Oil and Gas Committee to monitor the involvement of local entrepreneurs in the oil and gas industry.

Assistant Minister for Industrial Development (Investment and Promotion) Datuk Julaihi Narawi said the state cabinet gave its nod last month, and Minister of Industrial Development Datuk Amar Awang Tengah Ali Hasan would chair its first meeting soon. At the same time, he revealed that his ministry will have a new unit – Oil and Gas Unit.

“This committee is formed to monitor the involvement of local players in the oil and gas industry. This is because Sarawak has many industry players in the sector and we want them to play a more active role in the industry compared to before,” he said when met at his Hari Raya open house at his home at Taman Heritage here yesterday.

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(Bintulu) Set to be petro-chemical hub

August 28, 2015

Dateline 2015-07-30, Borneo Post:

The abundance of natural resources in Bintulu gives the area a huge potential to be the petro-chemical hub in the country, says Chief Minister Datuk Patinggi Tan Sri Adenan Satem.

Speaking at the ground breaking ceremony of Huchems Fine Chemical Corporation plant in Tanjung Kidurong yesterday, Adenan said the setting up of the plant to produce ammonia, nitric acid and ammonium nitrate here reflected the confidence of foreign investors in the state.

He added that more petrochemical companies would be invited to set up their plants in the state.

“To do this, we will be intensely involved in developing the high value downstream products of oil and gas industries such as specialised and fine chemicals.

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IEM Shout Out – One-Day Course on Centrifugal Pump Theory And Application-Basic Principles

August 28, 2015

My technical division will be hosting a 1 day seminar on the 28th September , 2015. It is worth 6.5 CPD points, and held at Wisma IEM. The course will be presented by Ir. Hassanazhari Ahdi. Process engineers, can you please attend?

CENTRIFUGAL PUMP THEORY AND APPLICATION shall provide the audience with the knowledge and principles of pump design, sizing, selection and performance analysis. The course will be beneficial to engineers dealing with pump and will be presented in a way that is comprehensible to the engineers who are with or without the oil and gas background. The objectives of the course are to provide exposure to the audiences on understanding of fundamental design of centrifugal pump, the critical pump parameters when evaluating pump selection and making the best decision on specification.

 

Ir. Hassanazhari Ahdi has been in the oil and gas industry for 25 years working for companies such as Technip, TPVN, KPOC and SDE. His core expertise is in design works, erection, testing, hook-up and commissioning.  Currently, he is an independent consultant providing consultancy for various design offices. He graduated from University of Malaya with a degree in Mechanical in year 1987 and a Masters in Engineering from UTM in year 2006. He has served many major Oil and Gas Companies locally and abroad such as PETRONAS, SHELL, EXXON-MOBIL, QATAR PETROLEUM, QATAR MEARSK OIL, TOTAL, CONOCO-PHILIPSs and CUU LONG.

Register here, or download the form here.

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Murphy Updates on Malaysian Ops, Makes Gas Find at Permai Well Off Sabah

August 27, 2015

Dateline 2015-07-30, Rigzone:

Murphy Oil Corp. completed a five-well drilling campaign at the Belum gas field in shallow water offshore Sarawak, east Malaysia in the second quarter of 2015, the company said in its quarterly results Wednesday.

The U.S. independent oil company indicated that the “Belum field has lower nitrogen content that will blend into our current gas production fields and allow us to de-risk our 250 million cubic feet per day (MMcf/d) contractual volume on demand.”

Murphy, currently drilling oil wells at the Permas shallow water development, added that Sarawak gas production for the second quarter was 111 MMcf/d and liquids production was around 14,700 barrels of oil per day (bopd.)  Meantime, the firm successfully finalized the planned outage in early second quarter at its Sarawak facilities to complete regulator-required inspections and major maintenance.

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NO REVIVAL in oil prices in the new term, says economists

August 27, 2015

Dateline 2015-07-15, Malaysia Chronicle:

Crude oil prices may weaken further following the successful conclusion of a nuclear accord between Iran and six other major powers including the United States.

Crude oil prices have been falling since June 30 and they tumbled yesterday by more than US$1 after the Iran nuclear accord was announced.

While the restrictions on Iran’s oil exports would not be immediately lifted until international monitors report on the country’s compliance with the deal at the end of the year, speculation of more oil flooding the market amid weaker demand, has weighed on prices.

Alliance Research chief economist Manokaran Mottain told StarBiz that average oil prices could fall to levels seen earlier in the year depending on the extent and length of price drops.

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Marketing Rounds – Uzma

August 26, 2015

If you haven’t visited Uzma Tower, make sure you get concise directions. I had to be lead there from the LHDN offices the first time I went.

IMG_20150806_075553_HDR-001 IMG_20150806_075608_HDR-001

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VESTIGO Flows First Oil at Tembikai Field Offshore Peninsular Malaysia

August 25, 2015

Dateline 2015-07-14, Rigzone:

Malaysia’s national oil company Petroliam Nasional Berhad (PETRONAS) announced Tuesday the commencement of oil production at the Tembikai field under the Tembikai-Chenang Cluster small field Risk Service Contract (RSC) located offshore Terengganu, Peninsular Malaysia.

The field, which lies in water depth of approximately 230 feet (70 meters), is being developed and operated by VESTIGO Petroleum Sdn Bhd, a company established in 2013 and wholly-owned by PETRONAS Carigali Sdn Bhd — the upstream arm of PETRONAS.

The Tembikai-Chenang Cluster is the fourth RSC that has been brought into production, after the Kapal-Banang-Meranti (KBM) Cluster, Balai Cluster and Berantai RSCs.

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Saturday Star 2015-08-15– Job Opportunities

August 24, 2015

Happy First Hajj Flight Week. Donate to your favourite charity, 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.

  • I’m looking for jobs for 4Q2015. 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. Has The Star dropped out of favour? I see more job adverts on the facebook private groups.

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? IGL’s open house and client / associate open day, of course.

Seen the Episode VII new trailer? If you say “What is episode Vii?”, I disown you.

Join the Star Wars Fever:

Star Wars Trilogy Episodes IV-VI (Blu-ray + DVD), Star Wars Trilogy Episodes I-III (Blu-ray + DVD), Heir to the Jedi: Star Wars

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MPRC applauds Platts’ move towards FOB Straits benchmark

August 23, 2015

Why isn’t Abang Yazid a Datuk yet?

Dateline 2015-07-07, The Borneo Post:

The Petroleum Resources Corporation (MPRC) has applauded Platts’ recent move to approve four terminals in southern Malaysia as part of the free-on-board (FOB) Straits oil benchmark pricing which is the process of price assessment for refined oil products.

The four terminals are Pasir Gudang, Tanjung Langsat, Pengerang and Tanjung Bin.

In a statement yesterday, MPRC said with the FOB Straits, market participants would have broader options for loading terminals from which to meet an approved FOB Straits bid.

“As a result, all market participants will benefit from a more efficient market with more transparent price discovery,” it said.

Platts is a global energy, petrochemicals and metals information provider with a premier source of benchmark price reference.

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Analysts see subdued 2Q15 for O&G industry

August 22, 2015

You know the duit raya you received? Maybe now is a good time to think of investing in O&G stocks.

Dateline 2015-07-06, Borneo Post:

Analysts expect the second quarter 2015 (2Q15) results for oil and gas (O&G) companies to continue to be weak, reflecting slower activities and vessel utilisations.

Kenanga Investment Bank Bhd’s research arm (Kenanga Research) in a report, said the full effect of rate cuts is expected to only be felt earliest in the second half of 2015 (2H15) and will mainly affect Petronas-dependent stocks as compromise for discounts on existing contracts could be finalised during that time period.

However, it pointed out, “We expect contract flows to be stronger in 2H15 compared to 1H15 as oil prices stabilises and oil majors finished recalibrating their capital expenditure (capex) plans to operate optimally under the current oil price scenario.”

The research team, nevertheless, believed the overall, earnings for the sector in general are expected to decline year-on-year.

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