Malaysia’s oil and gas services looking farther afield

November 19, 2013

Dateline 2013-09-28, Borneo Post:

Companies servicing Malaysia’s oil and gas sector are using the experience and expertise gained during collaborative ventures with foreign firms as a launchpad for overseas expansion.

Four decades of developing solutions for Malaysia’s operational environment, under the state-owned hydrocarbons producer, Petroliam Nasional Bhd (Petronas), have put local outfits on a solid footing to enter the rapidly expanding global oil services industry.

However, the fast pace of growth has also produced challenges for firms embarking on international expansion, including project delays and equipment shortages, which are taking their toll on margins.

Production on the rise

At home, Malaysia’s oil sector services providers have benefited from Petronas’s efforts to galvanise production in recent years, spearheaded by a US$30 billion investment aimed at ramping up output, developing new offshore reserves and extending the production life of existing fields.

…

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

Saturday Star 2013-11-16 – Job Opportunities

November 18, 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.
  • PETRONAS Chemicals Group Bhd has openings. Visit here with your updated resume.
  • Hey, why is the list so short?

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!

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.

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

Petronas Sees 14 Fields Under EOR Scheme Producing Up to 1B Barrels of Oil

November 17, 2013

Dateline 2013-09-26, Rigzone:

Malaysia’s state-owned oil company Petroliam Nasional Berhad (Petronas) expected production from 14 oil fields identified under the enhanced oil recovery (EOR) initiative to reach between 750 million and one billion barrels of oil for the duration of the fields’ economic life, subject to the condition of the fields and when these projects start up, local newspaper The Star reported Thursday.

The Tapis field is the first to be selected for the EOR scheme, under which Petronas seeks to reverse dwindling oil reserves in Malaysia. Five of these fields lie offshore Sabah and Sarawak, including Baram in Sarawak and St Joseph in Sabah, while the others are located offshore Peninsular Malaysia, including Tapis and Dulang fields.

Petronas CEO Shamsul Azhar Abbas said recently that production decline at its Malaysian oil fields has been kept to a minimum, at around 2 and 3 percent which helped the firm to maintain crude production at around 480,000 barrels per day, compared to 8 and 9 percent internationally, The Star reported.

…

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

Petronas’ EOR project in Tapis to boost oil production

November 15, 2013

Isn’t Tapis ExxonMobil’s field?

Dateline 2013-09-25, The Star:

Petroliam Nasional Bhd expects Malaysia’s first large scale enhanced oil recovery (EOR) project to boost oil production at the Tapis oilfield offshore peninsular Malaysia by up to 35,000 barrels per day from between 3,000 and 4,000 barrels currently.

Head of EOR programme, exploration and production technology division Dr Nasir Darman said using the water-alternating-gas (WAG) injection measure, the depleting Tapis oilfield will be injected with gases from nearby Guntong oilfield to increase pressure and enhance oil production.

Production, he added, is expected to start in the first half of next year. “At peak, the project is expected to produce between 25,000 and 35,000 barrels per day of oil in 2016 and 2017,” he told reporters in a briefing at the Malaysia Marine and Heavy Engineering Bhd (MMHE) fabrication yard here on Tuesday.

…

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

Shell invests RM3.2b in Malaysia

November 14, 2013

Dateline 2013-09-25, Malaysian Reserve:

Shell Malaysia has reiterated its confidence to invest US$1 billion (RM3.22 billion) in fixed investments in the Malaysian oil and gas (O&G) industry, providing employment to over 6,500 people, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed said.

“I just had a discussion with the Shell leadership including Shell’s group CEO and they have expressed confidence in the country and will continue to invest in the country, he told newsmen after delivering a keynote address at the Shell Malaysia Innovation Summit in Kuala Lumpur yesterday.

A key project that Shell is working on is the Gumusut Kakap, a deepwater field which Shell is developing with Petronas Carigali Sdn Bhd, ConocoPhillips and Murphy. When it goes into full production, it is expected to contribute 20% to 25% of Malaysia’s oil production, with design capacity of 150,000 barrels per day.

…

 

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

Jeffrey claims Majid’s revelations helped to confirm suspicions

November 12, 2013

Daily Express, dateline 2013-09-19:

Sabah State Reform Party (Star) said the revelations by former United National Kadazan Organisation (Unko) Deputy Secretary-General Tan Sri Majid Khan recently regarding Federal Government policy on oil proved that Federal leaders were prepared to concoct lies “to steal Sabah’s oil and gas.”

Its Chief, Datuk Dr Jeffrey Kitingan, said the explanation by Federal leaders in the 1970s that oil found on-shore belongs to Sabah while offshore belonged to the Federal Government showed that it wants Sabah’s oil and gas at all costs.

He was commenting on a talk presented by Tan Sri Majid Khan at the recent forum “The Formation of Malaysia – The Untold Story” organised by the Sabah Society.

Majid, according to Jeffrey, had said that whether it is true or lawful was another matter and it was up to the present Sabahans to take the matter to court to determine its legitimacy.

…

 

Leave a Comment » | Malaysia, Malaysian election, oil and gas | Permalink
Posted by Wata

After petrol price hike, Maybank research unit expects GAS & ELECTRICITY TO BE NEXT

November 10, 2013

Dateline 2013-09-19, Malaysia Chronicle:

Gas and electricity prices are likely to be next in a round of price hikes following the fuel subsidy cut earlier this month, Maybank Investment Bank (IB) Research predicted today.

In its daily report, Maybank IB has predicted further subsidy rollbacks since the total savings from the Performance Management and Delivery Unit’s Subsidy Rationalisation Roadmap in 2010 has been much less than intended.

“Total savings since 2010, at RM9 billion into 2014, is a pale comparison to what was intended in the 2010 Roadmap.

“Considering its inflationary impact and the need to sustain domestic consumption, we take the view that upcoming subsidy rollbacks will remain gradual. We think gas and electricity prices will be next to be addressed,” said the report here.

…

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

Japan’s JX acquires stake in deepwater Malaysia block

November 9, 2013

From The Sun Daily, 2013-09-19:

Japan’s JX Nippon Oil & Gas Exploration Corp said on Thursday it has acquired a 40% stake in the Deepwater Block 2F off the coast of Sarawak in Malaysia.

JX and Petroliam Nasional Bhd (Petronas) have entered into a production sharing contract for the block, JX’s sixth block in Malaysia and its fourth as an operator, it added.

Petronas also holds a 40% stake, while GDF Suez E&P Malaysia BV has the remaining 20%. The exploration period is four years.

“Deepwater Block 2F is located in the northwest of Sarawak, with 5,500 sq km surface area and 100-1,200m water depth,” JX said.

 

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

1 Country Fueling Big Profit Margins for Big Oil

November 8, 2013

Dateline 2013-09-17, The Motley Fool:

Most of us probably have no idea where Malaysia is located. Even fewer probably know of its natural resource riches. That needs to change because Malaysia should prove to be an important location for oil companies looking for growth. Not to mention its importance to investors looking to profit from that growth.

For those needing a quick geography lesson, Malaysia is located in Southeast Asia and it’s actually two separate land masses separated by the South China Sea. Its that geographic location that’s important because of its close proximity to oil thirsty China.

Speaking of oil, Malaysia is actually the second largest oil and gas producer in Southeast Asia and it’s the second largest exporter of liquefied natural gas in the entire world. Further, Malaysia is estimated to hold the fifth largest oil reserves in Asia-Pacific and one of the top 30 holders of oil reserves in the world. Malaysia really is resource rich.

…

 

 

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

Petrofac wins training contract with Malaysia’s Petronas

November 7, 2013

Dateline 2013-09-16, IFA:

Oil and gas services provider Petrofac is to operate and manage two training facilities for Malaysian oil major Petronas in a contract worth 120m dollars.

The company is currently constructing two upstream plant training facilities and a downstream facility to support Petronas’ workforce capability enhancement programme. The two upstream facilities will be managed by Petrofac for the next five years and will see 500 delegates trained each year. There is the option to extend the agreement for a further two years.

Andy Inglis, the head of Petrofac Integrated Energy Services, said he was ‘delighted’ to build on the existing relationship with long-term customer Petronas.

…

 

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

« Previous Entries
Next Entries »