March 23, 2014
Dateline 2014-02-24, Business Times:
PROJECTS in offshore Malaysia are forecast to see the largest capital expenditure rise in the Asia-Pacific region at more than US$59 billion (RM177 billion) over the next five years, according to an oil and gas industry research.
The Regional Perspective Offshore Asia Oil and Gas Market Report to 2015 is forecasting that deepwater developments in Malaysia will continue to gather pace, with 84 fixed platform units and eight floating production units to be installed between 2011 and 2015.
Given such a scenario, Malaysia, in particular Petroliam Nasional Bhd (Petronas), has made the right decision to host the Offshore Technology Conference (OTC) Asia this year to provide a platform for industry professionals to share their technical knowledge and experiences.
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Posted by Wata
March 22, 2014
Dateline 2014-02-13, Platts:
Malaysia’s state-owned Petronas said Thursday it has awarded the engineering, procurement, construction, installation and commissioning contract for its second floating LNG project, located offshore Sabah, to a partnership of Japan’s JGC and South Korea’s Samsung Heavy Industries.
Petronas said the EPCIC contract for PFLNG 2 follows the January 23 board approval of the final investment decision taken on the project.
The FLNG facility will be located at the Rotan field in Block H.
Murphy Oil, operator of the upstream block, had announced FID of the project early this month.
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Leave a Comment » | investment, Malaysia, oil and gas | Tagged: Murphy, Petronas, PFLNG, Rotan, Sabah, Samsung | Permalink
Posted by Wata
March 21, 2014
Dateline 2014-02-13, Borneo Post:
It is with much optimism that oil and gas players enter 2014 in Malaysia with projects progressing to the next stage and massive job awards on the line.
According to analyst Aaron Tan from MIDF Amanah Investment Bank Bhd (MIDF), Petroliam Nasional Bhd (Petronas) will have the final investment decision (FID) on the RM60 billion Refinery and Petrochemicals Integrated Development (Rapid) complex in Pengerang, Johor whithin the first quarter of 2014.
“We view this as a positive sign as it will spur the downstream petrochemical sector. So far, Petronas has signed agreements with Versalis SpA (Italy), Itochu (Japan) and PTT Global Chemicals (Thailand) as joint-venture partners to build specialty chemical plants,” he said in the MIDF Equity Beat report yesterday.
“We do not, however, think that the Rapid initiative will directly benefit most Bursa-listed oil and gas service providers these companies are mainly upstream offshore support service providers.
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Leave a Comment » | investment, Malaysia, oil and gas | Tagged: MIDF, Pengerang, Petronas | Permalink
Posted by Wata
March 20, 2014
How come I wasn’t sent a subpoena? And score one for the ‘disgruntled employee’.
Dateline 2014-02-11, MalaysiaKini:
Petronas subsidiary MISC has surfaced in a global bribery and corruption scandal involving US$10 million (RM33.4 million) of more than US$250 million (RM834 million) in bribes and other malpractices spanning six years, which centres around Dutch oil and gas (O&G) services company SBM Offshore.
According to a document listing possible fraud by SBM Offshore in various countries spanning Africa, Equatorial Guinea, Brazil, Iraq, Kazakhstan and Italy in addition to Malaysia, MISC was allegedly involved in payments to Barnado Limited and Delcom Limited totalling US$10 million (RM33.4 million) related to the Kikeh field floating production, storage and offloading (FPSO) platform.
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Leave a Comment » | investment, Malaysia, oil and gas | Tagged: Kikeh, MISC, SBM | Permalink
Posted by Wata
March 19, 2014
I’ll be visiting soon.
soon.
Leave a Comment » | Malaysia, oil and gas | Tagged: Kerteh | Permalink
Posted by Wata
March 18, 2014
Yea?
Dateline 2014-02-11, Rigzone:
SapuraKencana Petroleum Berhad, Malaysia’s oil and gas services and solutions provider, announced Tuesday that the company has successfully completed the Share Purchase Agreement (SPA) for the acquisition of Newfield International Holdings Inc.’s entire equity interest in Newfield Malaysia Holding Inc. for $895.9 million.
The acquisition cost is below the $898 million purchase price previously reported as the price was subjected to adjustments as set out in the SPA, SapuraKencana said in a press release.
Following completion of the acquisition, SapuraKencana Energy Inc. (SKEI), a newly incorporated wholly owned upstream subsidiary of SapuraKencana, now holds equity interest in 8 Production Sharing Contracts (PSCs) and one alliance contract in Peninsular Malaysia, Sabah and Sarawak.
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Posted by Wata
March 16, 2014
Since this article has a time delay of about a month, SOGT should be open now. And the article says ‘floating oil and gas production facility…’ Please, razmahwata.wordpress.com’s retainer fee is RM3.1416e3 monthly, pay that and we’ll correct the obvious errors. As for the outrageous booboos, we’ll emphasis them in for a lark.
Dateline 2014-02-11:
Malaysian state firm Petronas has postponed the start of operations at a floating oil and gas production facility in Sabah by at least three months due to a technical issue, industry sources said on Tuesday.
The Sabah Oil and Gas Terminal in Kimanis bay is key in the country’s plan to boost its crude production and exports from several deepwater oilfields in east Malaysia, but the project has been dogged by construction and technical issues.
The terminal was scheduled to start operations in the first quarter, but it may now export crude only in June or in the second half of the year, the sources said
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Posted by Wata
March 15, 2014
Does The Edge website purposely make it had to use the c-C and c-V commands?
Dateline 2014-02-10, The Edge:
Petronas Gas Bhd (PetGas)’s net profit jumped 33% year-on-year (y-o-y) to RM394 million in the fourth quarter ended Dec 31, 2013, from RM295 million in the fourth quarter of 2012.
Revenue also rose 13% y-o-y to RM1.028 billion, from RM909 million.
The company proposed a final dividend of 40 sen per ordinary share under a single tier system for the financial year ended Dec 31, 2013. This amounts to RM791 million.
In a statement to Bursa Malaysia, PetGas said the profit increase was in line with the increase in revenue. In addition, there was higher other income and share of profit from associate and joint ventures.
The firm also said its larger profit was due to lower tax expense resulting from a change in deferred tax estimates. This came on the back of a lower future statutory tax rate.
PetGas said its revenue increase was largely due to regasification revenue. This followed commencement of the LNG Regasification Terminal operations in the second quarter last year and higher gas transportation revenue.
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Leave a Comment » | Malaysia, oil and gas | Tagged: petronas gas, PGB | Permalink
Posted by Wata
March 13, 2014
THHE seems busy now. Permas, Layang and now Kinabalu NAG. Hold on, isn’t Kinabalu Talisman’s field?
Dateline 2014-02-06, Rigzone:
TH Heavy Engineering Berhad, a Malaysia-based engineering and marine contractor, revealed Wednesday that its subsidiary, THHE Fabricators Sdn. Bhd. (TFSB) has received a Letter of Award from Petronas Carigali Sdn Bhd (PCSB) Jan. 28 for the supply of a topside for the Kinabalu Non-Associated Gas (NAG) Development Project in Malaysia, the firm said in an announcement on local stock exchange Bursa Malaysia .
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3 Comments | Malaysia, oil and gas | Tagged: Kinabalu, NAG, PCSB, THHE | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 