Santos strikes oil in Malaysian drilling

May 3, 2015

Dateline 2015-03-26, The Sidney Morning Herald:

Santos has reported a “significant” oil discovery in its deep-water exploration campaign in Malaysia, providing a welcome piece of good news for investors.

The Bestari-1 well, drilled with Malaysian national operator Petronas, comes just two months after Santos completed a deal to buy a 20 per cent stake in the Block R Production Sharing Contract containing the exploration prospect.

Santos’s vice-president for Asia, John Anderson, said Santos was “very encouraged” by the find, which he said had similarities to “some of the other world-class fields in the area”.

Block R, located offshore East Malaysia, lies in an area where large fields have been discovered, including Murphy Oil’s Kikeh and Shell’s Gumusut-Kakap oilfields.

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Posted by Wata

Adenan admits spectacular failure of oil talks

May 1, 2015

Spectacular as “we lost a pocket lining income pipeline”, or “we managed to get hit with GST on the royalty?”

Dateline 2015-03-19, FMT:

Sarawak Chief Minister Adenan Satem, just back from a visit to Sabah from where he came away “impressed”, has disclosed that oil talks with Petronas and the Federal Government have failed and spectacularly at that. “We don’t want people to take away our oil and gas with us being onlookers,” said Adenan. “We want an equal partnership.”

“We don’t want to be spectators. We want to be active participants.”

He pledged that the Sarawak Government would pursue the revised oil royalty demand until “we achieve what we want”.

The talks, based on an unanimous resolution passed by the Sarawak Assembly, was about raising the oil royalty to a respectable 20 per cent cash payout. Sabah and Sarawak, at present get a measly 5 per cent.

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Malaysia’s energy shares rout yet to hit bottom

April 30, 2015

Yeah, baby. Someone let me know when I can buy shares lots with the money in my pocket.

Dateline 2015-04-19, Malay Mail Online:

Investors looking for bargains among Malaysia’s tumbling energy stocks say it’s too early to buy as oil’s slide to a six-year low pummels an industry that accounts for about a fifth of the nation’s exports.

SapuraKencana Petroleum Bhd, the country’s biggest oil and gas services company, has tumbled 46 per cent in Kuala Lumpur trading in the past 12 months as peers Bumi Armada Bhd and UMW Oil & Gas Corp both lost at least 48 per cent. Analysts have cut recommendations on the stocks to the lowest levels since at least 2013, while Malaysia’s state energy company announced spending cuts of as much as US$8.1 billion (RM29.78b) last month.

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Tales from the Engineering Floor – Cheesecake Diagram

April 29, 2015

In the safety scam, there are things such as a layers of protection diagram:

The idea is that a cause or hazard leads to a consequence only if all the layers fail. This is visually shown in a Swiss cheese diagram:

This is the Cheesecake diagram:

Though, some items are the same:

  1. There are layers
  2. If one layer is defective, it may not affect the overall facility
  3. If all layers are defective, go get your money back.
  4. Don’t do technical safety while hungry.

Which do you prefer?

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Struggle for her homeland

April 28, 2015

Not a Malaysian story, but just outside our borders. And lessons to be learnt.

Dateline 2015-03-16, Bangkok Post:

Suraida Tolee never thought that one day she would lead the people in Chana district, on the Thai-Malay border in Songkhla province, in a fight against government policies. That fight began 20 years ago, and continues to this day. Her life was at peace until she learnt that the Thailand-Malaysia gas pipeline and separation plant project would be built in her homeland as a result of the government’s development policy for the South.

And today her community faces a different struggle against another controversial policy: planned deep sea ports in the Gulf of Thailand that threaten the environment and local people’s livelihoods.

When the gas pipeline was first mooted in 1996, the mother-of-three and at that time council member of the Tambon Administration Office (TAO) in Khlong Pia, Chana district, decided to find out the truth.

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Saturday Star 2015-04-25– Job Opportunities

April 27, 2015

Happy Diving at Tenggol Week. Meet me there, and take a selfie. Also, 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 say that when the design houses execute a mass firing campaign, the trade papers should pick it up. What say you, R?
  • An associate of mine is looking for a senior level instrument and well completion engineer, 10 years in the position (no, not position 23b, second variant). Send your CV to me. As per my Facebook posting, idiotic applications, straight to /dev/null.
  • An associate of mine is looking for a technical safety part-time adviser. 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.
  • Hess is still looking for a measurement and allocation engineer (2 I believe). I saw that the ITB is still floating around. If you want me, you know where to find me. Not Celebrity Fitness, if you need a hint.

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? Go visit the mee bandung / asam pedas stall in front of the Petaling Jaya Police Station (don’t ask).

Seen the Episode VII new trailer? Ff 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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Posted by Wata

Kelantan to include 14 questions in oil royalty suit

April 25, 2015

Dateline 2015-03-13, FMT:

The Kelantan Government has sought the High Court to include 14 questions and issues of law in the hearing of its suit against Petroliam Nasional Berhad (Petronas) for alleged breach of contract over its oil royalty.

Among others, the questions involve what rights the state government has over petroleum onshore and offshore, prior to the coming into force of the Petroleum Development Act 1974 on October 1, 1974 and the execution of the Kelantan Agreement and Kelantan Grant on May 9, 1975.

The other issues were, whether by refusing to pay cash payments to Kelantan although converting petroleum obtained offshore without paying for them, Petronas had acted in breach of Article 13 of the Federal Constitution.

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Posted by Wata

Cost rationalisation in O&G needed to improve efficiency

April 23, 2015

Was this after or before the CORAL 2.0 initiative announcement? And what is this 10% reduction capex rubbish? I have been referred to the 30% reduction memo.

Dateline 2015-03-10, The Borneo Post:

Significant cost rationalisation in the Malaysian oil and gas sector is expected by analysts to improve operating efficiency.

According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), most, if not all, global oil and gas producers including Petroliam Nasional Bhd (Petronas) have reiterated that there will be significant cost rationalisation in 2015 and beyond.

“Petronas was quoted in the media indicating that it will be reducing capital expenditures by -10 per cent and operating expenditures by approximately -25 per cent to -30 per cent,” MIDF Research said.

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Marketing Rounds – Captive Durians

April 22, 2015

Man, them durians are tough in Sarolangun.

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Malaysia’s PETRONAS unwavering in its LNG ambitions.

April 21, 2015

Dateline 2015-03-06, Interfax:

Petronas’s first quarterly loss and the bearish outlook for the oil and gas market do not appear to have curtailed the Malaysian NOC’s plans to add to its LNG portfolio, following the announcement of new investments and reassurances major projects will not be affected by spending cuts.

Petronas lost MYR 7.3 billion ($2 billion) in Q4 2014 as a result of significant impairments from the fall in crude oil prices and a 6.9% year-on-year decline in revenue.

The loss is expected to herald a lean period, with reduced earnings and spending. Petronas confirmed at a press briefing in Kuala Lumpur last week that it planned to reduce its capital expenditure by 10% in 2015 and 15% in 2016.

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