The roads that lead to the Terengganu of old

September 7, 2013

Not really O&G focused, but what the heck, Terengganu is where it’s at, petroleum, politics and diving. And here’s the Youtube video to prove it.

Dateline 2013-07-24, The Star:

THE deep seas off Terengganu may be rich in oil and gas reserves, making the east coast state among the region’s leaders in the oil, gas and petrochemical industry, but some argue that its real treasures are all found on the mainland.

With a documented history reaching as far back as the 2nd Century, Terengganu certainly has accumulated a wealth of heritage influenced by the Langkasuka and Srivijaya kingdoms it was part of, and the Majapahit, Khmer and Chinese empires it traded with. Despite modern developments, the old Terengganu still remains – and the best way to explore it? Via Federal Route 3 – approaching a hundred years old, but still one of Malaysia’s most scenic highways.

Having served for economic and political purposes in the past, it must be said that Route 3 today is best suited for more leisurely pursuits. The relatively flat and straight two-lane single carriageway road provides an easy, scenic drive.

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Posted by Wata

Highlight: Pre-IPO blow for Ranhill

September 6, 2013

Dateline 2013-07-24, The Edge:

Petroliam Nasional Bhd (Petronas) has suspended its licence to Perunding Ranhill Worley Sdn Bhd (PRW), an affiliate of soon to be listed Ranhill Energy and Resources Bhd.

The suspension of PRW, which provides Ranhill Energy with a steady stream of oil and gas (O&G) jobs in Malaysia, is believed to have been served on the company without advance notice.

Sources say the development is material and may impact the listing of Ranhill Energy scheduled for next Wednesday. Company officials could not be contacted to determine if the latest development would affect its listing next week.
According to sources, the indefinite suspension affects PRW’s operations in both upstream and downstream activities.
“With the suspension, RWP will not be allowed to use its Petronas licence or bid for any Petronas projects. Also, once [the company is] suspended any work in an ongoing tender will be assumed by the next qualified bidder,” a source said.

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Malaysia’s Ranhill Energy delays IPO after Petronas suspends affiliate’s licence

September 5, 2013

Dateline 2013-07-24, Reuters:

Malaysian oil and gas service firm Ranhill Energy will delay its planned July 31 IPO after state oil firm Petronas suspended the licence of an affiliate company earlier this month, Ranhill said on Thursday.

Ranhill Energy said in a statement Petronas scrapped a licence belonging to affiliate Perunding Ranhill Worley (PRW) from July 17 for an indefinite period. Ranhill said it is appealing the decision.

The licence enables PRW to bid for Malaysian projects awarded by Petronas, which has pledged to spend 300 billion ringgit ($94.38 billion) in capital expenditures between 2011 and 2015.

PRW usually outsources Petronas jobs to Ranhill Energy’s 51 percent owned unit, Ranhill Worley Parsons Sdn Bhd, which contributes a significant portion of its Malaysian revenues. Australia’s WorleyParsons Ltd owns 49 percent of Ranhill Worley Parsons.

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1 Comment | investment, Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Safety Moment – Clash of Utilities

September 4, 2013

What do you think of this?

  • Good point – LRT extension
  • Bad point – LRT right of way is above a PETRONAS Gas Berhad pipeline. As far as I can tell, there have been no warnings to residents what to do if the crap hits the fan, evacuation paths, contact numbers, Twitter accounts, offshore bank accounts…

With all the piling work, earthworks and heavy machinery in the near future, can you spell ‘disaster waiting to happen’?PGB_LRT_0002 PGB_LRT_0001

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Petronas to Make FID for Second FLNG Project in 2H

September 3, 2013

Dateline 2013-07-23:

Malaysia’s national oil and gas company Petroliam Nasional Bhd (Petronas) was expected to make a final investment decision (FID) on a floating liquefied natural gas (FLNG) project for the Rotan field in Block H, offshore Sabah, in the second half of the year.

“Once sanctioned, production from this second FLNG vessel is expected to commence in 2016,” said a company spokesman as reported by Malaysia’s Business Times Tuesday. “The FID will be taken during the second half of this year,” he added.

The project, now in the front-end engineering design (FEED) stage, is for a FLNG equipped to produce 1.5 million tons of LNG per annum. Petronas awarded FEED contracts to two consortia – one comprising MODEC, Inc., IHI Corporation, TOYO Engineering Corporation and CB&I, while the other comprises JGC Corp and Samsung Heavy Industries.

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Saturday Star 2013-08-31 – Job Opportunities

September 2, 2013

Selamat Hari Merdeka!

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for process safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • PETRONAS wants to be ‘tapping human ingenuity for future growth.’ In Bintulu. Visit here.
  • JX Nippon Oil & Gas Exploration (Malaysia) Ltd is looking people. Send your cv here. Or snail mail to JX NIppon Oil & Gas Exploration (Deepwater Sabah) Limited (995348-T), Level 51, Menara 3, PETRONAS, Persiaran KLCC, Kuala Lumpur City Centre, 50088 Kuala Lumpur
  • Side note: My mechanic complains that there are not enough trained mechanics are being extruded from our schools. If you know of any idle ones, he’s looking for some. Ask them to contact Kong Ming Chai at +60122951023. On another note, has this shortfall hit the news? Can I get the contract for 1Repair?

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

Break the Low Yat stranglehold! Support Newegg Malaysia, or check Amazon’s International Shipping. Yeah, baby!

Self Promotion this week. I have some copies of ‘the Young Turks of PETRONAS’ and ‘Tuah Jebat di PETRONAS’. The books are USD30 each, or USD55 for both. Send me payment via Paypal, with details. Get these while they are hot, It’s taken me months to find the last remaining stocks.

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

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Posted by Wata

CEB shortlists 5 potential assets for acquisition

September 1, 2013

Dateline 2013-07-23:

Oil and gas (O&G) exploration and production (E&P) company CLIQ Energy Bhd (CEB) has shortlisted five qualifying assets out of 38 proposals for full evaluation, MD and CEO Ahmad Ziyad Elias said.

He said the shortlisted qualifying assets are from Malaysia, Indonesia and Papua New Guinea which will now move to the next stage of evaluation.

“We have already appointed consultants to evaluate the shortlisted qualifying assets, which is a mixture of pre-development assets, assets that need appraisal as well as production assets that have merger and acquisition (M&A) opportunities,” Ahmad Ziyad told reporters after the company’s first AGM in Kuala Lumpur yesterday.

CEB, a special purpose acquisition company (SPAC) which specialises in the acquisition and development of O&G assets located in Asia and Oceania, has been actively focusing on acquiring discovered small- and medium-sized O&G fields with relatively low to moderate risk.

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Higher fuel costs from 2014 for consumers?

August 31, 2013

Expect higher electrical bills, and higher profits from TNB.

Dateliine 2013-07-23:

Malaysians can expect to pay higher electricity bills from early 2014 when the government is expected to implement its Fuel Cost Pass Through (FCPT) mechanism and pass on higher fuel costs directly to consumers.

According to MyPower Corp, the agency tasked with overhauling the power sector, the nuts and bolts of the FCPT mechanism is almost completed and will be ready for implementation early next year.

MyPower CEO Abdul Razak Abdul Majid said the FCPT is an important component of the government’s incentive-based regulation for the power sector and would be implemented by Tenaga Nasional Bhd(TNB) once the national power company can integrate it into its business model.

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SapuraKencana leads M’sia-S’pore companies

August 30, 2013

Dateline 2013-07-22:

From hauling rigs to delivering toilet paper, firms from Southeast Asia are cornering lucrative niches of the oilfield services market to deliver growth that far outstrips that of much larger global peers.

SapuraKencana Petroleum and Ezion Holdings lead a group of top 20 Malaysia- and Singapore-listed companies that grew assets by 30 percent to $8.4 billion last year, according to Reuters analysis of company data.

Their expertise ranges from laying steel pipes at the bottom of the ocean and moving huge rigs from the South China Sea to the Gulf of Mexico, to delivering provisions for the rig crews.

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3 Comments | investment, Malaysia, oil and gas | Tagged: | Permalink
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Kuala Besut and oil royalty

August 29, 2013

Dateline 2013-07-22:

Political campaign is a strange subject. What seems straightforward to some can be made complicated by others. If I were a voter in Kuala Besut, my choice as to who I should vote for, is rather obvious and simple. Having said that, there must be some basis on my decision making process.

I would start by examining my own economic position, what job I am doing, how much do I earn per month and how does my income level compares to the Terengganu state average and eventually Malaysia’s national average. This is a very simple approach and does not require any deep analysis.

If I work as a fisherman and my average income is RM1000 per month that is considered good. But if Terengganu state average is RM3000 per month then what I earn is only a third of the state average. So I am considered as way below average as many fishermen in Terengganu (and Kelantan) are in the same boat.

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