Malaysia’s O&G sector faces muted short-term outlook

December 14, 2014

Dateline 2014-10-06, Borneo Post Online:

Malaysia’s oil and gas (O&G) outlook remains uninspiring in the short-run as timing of contract news flows remains uncertain.

In addition, Petroliam Nasional Bhd’s (Petronas) cautionary statement has sent negative vibes to the sector and crude oil price remain uninspiring, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) said in a recent sector analysis.

“Given our cautious outlook, we believe investors should stay stock-selective and focus on companies that either has significant order-book to support forward earnings visibility, and/or companies that have an exposure to the brownfield/rejuvenation segments (which are marginal fields, brownfield alliances, mantainance; well intervention), since Petronas might look to existing oil and gas fields to meet crude oil production goals and capital expenditure (capex) classified projects might see sluggish times ahead,” it added.

The research house explained, thus far, the upstream segment saw a slowdown in contract flows (RM1.4 billion domestic wins versus RM3.1 billion in the second quarter of 2014, or 2Q14).

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Help reduce fuel dependence, energy group tells Putrajaya

December 13, 2014

Dateline 2014-10-02, Malaysian Insider:

The government must help the public reduce its petrol if it wishes to continue slashing fuel subsidies, the Association of Water and Energy Research Malaysia (Awer) said today.

Awer president Piarapakaran S. said effective public transportation, proper road designs, EURO4 type fuel, energy efficient vehicles (EEV) and minimum energy performance standard (MEPS) for vehicles would lessen Malaysians’ energy dependence in the transportation sector.

“The implementation of EURO4 type fuel, EEV and MEPS for vehicles must be sped up as these are short-term solutions with immediate results,” he said in a statement.

He said the government should introduce more EEVs, as this would mean more vehicles that were environmentally-friendly and reduced fuel cost.
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No reason to raise petrol price when crude oil price is at a 3-year low – Chong Zhemin

December 12, 2014

Dateline 2014-10-01, Malaysian Insider:

Barisan Nasional has decided to increase the petrol prices at a time when the people are suffering from rising cost of living. This is not only a betrayal to the people’s trust but also a huge burden to the people.

And this is done when the international oil price has fallen to the lowest in nearly three years,

Yesterday, India and United Kingdom announced a reduction in petrol prices, making the petrol hike in Malaysia all the more ironic.

India announced a drop in petrol price by 65 paise (4 sen). United Kingdom has also reduce the petrol prices by 5 pence (27 sen). So, there is absolutely no reason for Najib administration to increase the petrol price when countries around the world are reducing petrol prices.

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IEM Shout Out – OGMTD 24th AGM

December 11, 2014

The Oil, Gas and Mining Technical Division AGM will be held at Wisma IEM C&S Lecture Room, Second Floor

It will be held at 11am on Saturday, 13th December 2013.

Register here, and download the flyer here. A map to Wisma IEM is presented here.

Since I’m the Advisor, come, y’all and heckle us. We also need a quorum, and need to vote in a new secretary / treasurer.

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PT Pertamina to acquire Malaysian assets for $2 billion

December 9, 2014

Date 2014-09-30, Oil & Gas Journal:

PT Pertamina Malaysia Eksplorasi Produksi has agreed to acquire 30% of the Malaysian oil and gas assets belonging to Murphy Sabah Oil Co. Ltd. and Murphy Sarawak Oil, both wholly owned subsidiaries of Murphy Oil Corp., for $2 billion in cash.

The two companies will work jointly in a long-term partnership in which Murphy will remain operator. Murphy says it will continue to execute its development plans and expand through future exploration in both deepwater and shallow-water Malaysia.

Roger W. Jenkins, Murphy president and chief executive officer, commented, “We are excited to strengthen our partnership with Pertamina and look forward to working with them and our other partners in Malaysia.

“We will continue to evaluate all aspects of our portfolio,” Jenkins added. “This transaction allows us to redeploy the proceeds through an individual or combination of strategic and financial initiatives such as increased drilling capital in the Eagle Ford shale, acquisition opportunities, debt reduction and share repurchases.”

The deal, subject to approval from Malaysia’s state owned Petronas, is effective Jan. 1. The first and second phases are expected to close in fourth-quarter 2014 and first-quarter 2015, respectively.

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Saturday Star 2014-12-06 – Job Opportunities

December 8, 2014

Happy School Holidays. 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 want to go for umrah.

  • I’m lining up jobs for next quarter, for IGL Services. Whisper to (better yet, carpe jugulum) your boss, and send work my way.
  • Carigali Hess is looking for a Senior Reservoir Engineer, Senior Process Safety Engineer, Senior Drilling Engineer, Petroleum Engineer. Send your exaggerations here,  with a detailed resume stating references, expected remuneration, contact telephone and email address, before 20th December, 2014.
  • I hear that Technip is still looking for project managers, senior project engineers, project engineers for Libra FPSO Project & Rapid. > 5 years experience. Send CVs to me, and a donation, and I’ll forward it on. Or save yourself some money, and send it to Technip directly.

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? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

How about some references to improve your health? I’ve been on this plan for about 12 weeks. Muscles have moved from buttery to rubbery.

You Are Your Own Gym: The Bible of Bodyweight Exercises, Body by You: The You Are Your Own Gym Guide to Total Women’s Fitness, 100 No-Equipment Workouts

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MALAYSIA ENERGY PROFILE: SECOND-LARGEST OIL AND NATURAL GAS PRODUCER IN SOUTHEAST ASIA – ANALYSIS

December 7, 2014

Dateline 2014-09-30, Eurasia Review:

Malaysia’s energy industry is a critical sector of growth for the entire economy, and it makes up almost 20% of the total gross domestic product. New tax and investment incentives, starting in 2010, aim to promote oil and natural gas exploration and development in the country’s deepwater and marginal fields as well as promote energy efficiency measures and use of alternative energy sources. These fiscal incentives are part of the country’s economic transformation program to leverage its resources and geographic location to be one of Asia’s top energy players by 2020. Another key pillar in Malaysia’s energy strategy is to become a regional oil and natural gas storage, trading, and development hub that will attract technical expertise and downstream services that can compete in Asia.

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Kelantan losing out from ambiguities in Petroleum Act

December 6, 2014

Dateline 2014-09-27, FMT:

Oil and gas expert Anas Alam Faizli said ambiguities in the Petroleum Development Act of 1974 (PDA) must be sorted out, as different parties were interpreting it differently.

Speaking to FMT, Anas said, “There are now a host of different interpretations and ambiguities in relation to what documents can be applied to resolve the issue which is the main cause of concern. If this is not addressed there will be no end to this.

Anas said this in regard to Kelantan’s oil royalty dispute in which one party claimed there was no need for royalty payments to Kelantan.

Explaining it in greater detail, Anas said, ”Others may argue, that the Assignment Deed, and the Vesting Grant 1975/1976 supersedes the law, which then conflicts with views by other experts who may interpret it differently based on their perspective of the Federal Constitution or the Petroleum Act.”

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This Is Only The 3rd Oil Project Of Its Kind, Ever

December 5, 2014

Dateline 2014-09-25, Oilprice.com:

The petroleum world witnessed a historic event this week. With a new type of oil production project becoming operational for just the third time in history.

That’s a type of operation known as a “risk service contract” or RSC. Which is becoming a go-to vehicle in Malaysia, for the development of that country’s offshore regime.

This month Malaysia’s state oil firm Petronas said that the Banang offshore oil field has gone to production under a risk service contract. Part of a larger field development known simply as the “KBM” cluster. A project that was being advanced by U.S. outfit Coastal Energy, which was purchased last year by the government of Abu Dhabi.

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IEM Shout Out – OGMTD 24th AGM

December 4, 2014

The Oil, Gas and Mining Technical Division AGM will be held at Wisma IEM C&S Lecture Room, Second Floor

It will be held at 11am on Saturday, 13th December 2013.

Register here, and download the flyer here. A map to Wisma IEM is presented here.

Since I’m the Advisor, come, y’all and heckle us. We also need a quorum, and need to vote in a new secretary / treasurer.

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

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