Petronas defends Bumiputera record, says no to companies without expertise

November 29, 2013

So, how do SME’s break into this lucrative market? PETRONAS companies seem to have a rep of being reluctant in issuing small contracts to individual companies, with a penchant to use established call-out contracts with big-a players.

Dateline 2013-10-05, Malaysian Insider:

Petronas will continue helping Bumiputera companies but it will not award contracts to those with no track record in the oil and gas sector, said its CEO and president Tan Sri Shamsul Azhar Abbas (pic).

He said Petronas does not sideline Bumiputera companies as alleged by the Malay Economic Action Council (MTEM) but awards projects to them based on merit, transparency and competence.

Last year, Petronas gave out RM52.48 billion in contracts to companies which were majority-owned by Bumiputeras. It was almost double the RM29.35 billion awarded in 2011. In 2010, the total was RM25.97 billion.

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IEM Shout Out – OGMTD 23nd AGM

November 28, 2013

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, 14th December 2013.

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

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

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McDermott, THHE Formalize JVs to Tap Malaysia’s EPCIC Market

November 27, 2013

Dateline 2013-10-04, Rigzone:

McDermott International, Inc. (McDermott) reported Thursday that the company’s affiliates and Malaysia-based TH Heavy Engineering Berhad (THHE) have confirmed the formalization of several Joint Ventures. The joint ventures were formally approved by THHE shareholders at their annual general meeting June 3.

“This is a milestone occasion for both companies” said Scott Cummins, senior vice president and general manager, McDermott in Asia Pacific. “We have worked together on previous international bids as prime contractor and subcontractor, but with the new joint ventures we are both better able to commit and combine resources to enhance our joint Malaysian business. “

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Plenty of jobs in O&M phase for BUMI oil & gas firms – Petronas COO

November 26, 2013

Yup, you can get jobs buy undercutting your competition, hang the quality.

Dateline 2013-10-16, Malaysia Chronicle:

Bumiputra oil and gas companies should tap opportunities present at the operation and maintenance (0&M) phase of any Petroliam Nasional Bhd (Petronas) projects, said its chief operating officer Datuk Wan Zulkiflee Wan Ariffin.

Analysts estimate that Petronas allocates between 10 and 20 per cent of its capital expenditure (capex) on the 0&M of its assets.

The national oil and gas company has set aside RM300 billion for capex over a five-year period, starting from 2011.

O&M-related works, which come into play at the post-commissioning stage, are more longterm in nature. Hence, O&M jobs are normally seen as recurring income-based contracts.

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Nga calls for Petronas to be audited by Auditor General

November 26, 2013

Yes, PETRONAS, open the kimono, or baju kurung if you want local flair. And did the Honourable MP just find the Petroleum Act? I would like to see whether PETRONAS has been missing any firearms as well, and how much did their printers cost?

Dateline 2013-10-02, The Star:

Taiping MP, Nga Kor Ming calls for Petronas to be audited by the Auditor General and eventually debated in the Dewan Rakyat.

“Petronas has been around for 38 years now, however it has not been audited even once.

“I also found that section 3 of the Petroleum Act (1974) states that it only allows the office of the Prime Minister to have access to the accounts as it is classified as private and confidential,” he said during a press conference at the parliament on Wednesday.

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Saturday Star 2013-11-23 – Job Opportunities

November 25, 2013

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 technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Carigali Hess is looking for a principal drilling engineer, reliability engineer, commissioning engineer, reservoir engineer, instrument engineer. Send your cv here,  with a detailed resume stating references, expected remuneration, contact telephone and email address, before 7 December, 2013.

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.

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!

Let’s go back to basics, the quanta of it all:

  

Alice in Quantumland: An Allegory of Quantum Physics, The Wizard of Quarks: A Fantasy of Particle Physics, Scrooge’s Cryptic Carol: Visions of Energy, Time, and Quantum Nature

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.

Food?I had lunch at Chakri Palace, KLCC. Blooming expensive. Anyone want to treat me to dinner there?

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Posted by Wata

Oil firm with Gaddafi ties helped construction giant win contracts overseas

November 24, 2013

Not wholly a Malaysian topic, but 1) I need link bait, 2) Leighton does have a local presence. Dateline 2013-10-02:

Leighton Holdings‘ offshore arms enlisted a network of middlemen with links to influential officials in corruption-prone countries to help it win huge contracts.

Those middlemen included a Monaco firm with ties to former Libyan dictator Muammar Gaddafi and senior Iraqi politicians.

Company files indicate the Australian construction giant paid Monaco’s Unaoil $40 million at the direction of the Iraqi Oil Ministry as part of a 2010 contract suspected of being corrupt.

The ministry had nominated Unaoil as the subcontractor that would provide domestic support to Leighton Offshore on a $750 million oil pipeline project.

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The files suggest Unaoil, which has employed former top Iraqi oil officials, received its money after the Australian company allegedly artificially inflated the value of an onshore support services contract by $40 million.

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Tapis EOR project will start production in 2014

November 23, 2013

From The Malaysian Reserve, dateline 2013-10-03:

The Tapis Enhanced Oil Recovery (EOR) project is moving a step closer to production with the significant completion of the main central processing facility called Tapis-R topsides.

The project will see the oil production from the ageing Tapis field increase from the current estimated 5,000 barrels per day to a maximum output of 25,000-35,000 barrels per day (bpd) by 2017.

The EOR is a 50:50 participation between ExxonMobil Exploration & Production Malaysia Inc (EMEPMI) and Petronas Carigali Sdn Bhd (PCSB).

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Malaysia’s UMW Oil & Gas sets tight IPO bookbuilding range

November 22, 2013

Yes, historical info, thank you for informing me.

Dateline 2013-10-02, Reuters:

UMW Oil & Gas Corp Bhd , a Malaysian offshore and drilling services firm, set a tight IPO bookbuilding range of thanks to strong demand from cornerstone investors, a source with direct knowledge of the process told Reuters on Wednesday.

This values the IPO at up to 2.36 billion ringgit ($729.63 million), the largest in Malaysia so far this year. This IPO comes on top of the $680 million flotation by Westports Holdings Bhd, operator of the country’s busiest port.

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At the Wellhead: Malaysia sets out a plan to reverse its oil output slide

November 20, 2013

Dateline 2013-09-30, Platts:

Malaysia wants to reverse a long decline in its crude oil output. It recently completed a project that it sees as a major step in that direction. Mriganka Jaipuriyar discusses the project in this week’s Oilgram News column, At the Wellhead.

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Malaysia recently achieved a significant milestone in its attempt to reverse a decline in crude oil production with the completion of the Tapis-R platform — a 23,500 mt mega structure for the enhanced oil recovery (EOR) project at the aging Tapis field located offshore Terengganu in Peninsular Malaysia.

With the EOR project, Petronas and ExxonMobil are aiming to recover an additional 180 million barrels of crude oil from the field, which was discovered in 1969, and extend its life by another 30 years.

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