Dateline 2011-01-09:
Oil prices surged toward the last quarter of 2010 to trade above US$90 (RM276.12) a barrel, raising concerns of higher food and fuel prices, reduced purchasing power and threatening the global economic recovery.
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Posted by Wata
Ah, our good friends at RNZ are back in the news. When will their wealth spill over to me? Deposits into my offshore Nigerian dictator ‘I really need to get this money to your account’ account, please.
Dateline 2011-01-06:
KUALA LUMPUR: RNZ Integrated (M) Sdn Bhd has denied it was incapable of undertaking the detailed design work for the Maersk Oil Qatar (MOQ) project for Sime Darby Enginering Sdn Bhd (SDE).
Managing director/chief executive officer Rozali Ahmad said RNZ had achieved ISO9001 certification for provision of engineering, design, procurement assistance and project management services for the development and modification of oil and gas production, installation and process facilities.
“RNZ has the reputation for successful execution of numerous projects in Malaysia, Sudan, India, Vietnam, Turkmenistan, Iran and Qatar,” he told Bernama yesterday.
Rozali said RNZ had been involved in the Sumandak Selatan integrated development project (offshore Sabah), Bunga Tulip A development project (Malaysia-Vietnam border), Tanjong Langsat Port oil development project (Johor), Muglad Basin development project and Bashayer 2 marine terminal (Sudan) and Monopod development project (India).
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Leave a Comment » | engineering, Malaysia, oil and gas | Permalink
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I’ll do the weekly job roundup tomorrow, had a leaking water pipe, so that took (and still is a) priority.
Last we heard about the incident, 6 people were injured, but this was way back in Dec. Anyone have any updates? Rumor has it that there is no gas flowing from the platform, due to the extent of damage.
2 Comments | Malaysia, oil and gas | Tagged: Bekok C, Carigali | Permalink
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Dateline 2011-01-09:
Kota Kinabalu: Sabah contributed more than quarter of the nation’s crude oil last year.
Chief Minister, Datuk Seri Musa Aman said the State chipped in about 26.9 per cent of the country’s overall crude oil output, which totaled more than 637,000 drums daily.
The oil and gas industry was one of the main contributors to Sabah’s economic sustainability, he said, adding many large-scale projects in the sector have been developed.
“These includes the Kikeh Oil Field, which is the first offshore deepwater oil field in Malaysia and the Sabah Oil and Gas Terminal (SOGT) in Kimanis as the industry’s hub in the State’s West Coast,” he said during the Petronas Petroleum Technology Institute (Instep) 2010 Convocation, Saturday.
“I am confident the sector has the potential to grow even further in future.”
In the same breath, Musa said such development could only be achieved with skilled and experienced labour such as those produced by national oil company Petronas.
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And… SOGT is still is the news. When they going to bury that puppy and move on? Oh, and when is the SOGT design consultant allowed to make good with PETRONAS?
Dateline 2011-01-11:
KOTA KINABALU — A memorandum of understanding (MoU) was inked Tuesday between NCSB Engineering Sdn Bhd, the Malay Chamber of Commerce Malaysia (DPMM) Sabah chapter and the Sabah Oil and Gas Contractors Association (SOGCA).
The MoU is to mark the collaboration in future projects under the Sabah Oil and Gas Terminal (SOGT) in Kimanis.
A subsidiary of Sarawak-based conglomerate Naim Holdings Bhd, NCSB Engineering has partnered Samsung Engineering Co. Ltd in a joint venture (JV), whereby, the companies were awarded the RM2.4 billion contract to built the SOGT by Petronas Carigali last year.
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Dateline 2011-01-11:
Energy companies Exxon Mobil Corp. and Royal Dutch Shell PLC plan to invest a total of about $5 billion in Malaysia, the government said Tuesday.
The agreements come as Malaysia seeks to attract $444 billion in investments by 2020.
The largest deal disclosed Tuesday involves units of Exxon and Malaysian company Petroliam Nasional Bhd., or Petronas. ExxonMobil Exploration & Production Malaysia Inc. and Petronas Carigali intend to invest more than 10 billion ringgit, or about $3.25 billion, in new oil and natural-gas assets in the South Asian nation, the Malaysian government said in a written statement.
Shell’s local arm, Shell Malaysia, plans to invest 5.1 billion ringgit to upgrade, expand or build facilities in the country.
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Malaysia, which produced 657,700 barrels of oil and condensates per day as of Jan. 1, 2010, is expected become a net oil importer by 2013.
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Posted by Wata
From Bernama, dateline 2011-01-12:
Prime Minister Datuk Seri Najib Tun Razak’s announcement on over RM20 billion investment in the oil and gas (O&G) and energy sectors is expected to perk up trading of the O&G stocks after being out of the limelight for the last two years since the crash of the crude oil price.
In a note on Wednesday, OSK Research said the share prices of most O&G companies were experiencing an upward re-rating due to the steady flow of positive news.
Under the third update of the Economic Transformation Programme yesterday, Najib said Shell Malaysia would invest RM5.1 billion in multiple projects to upgrade, expand or build facilities in upstream, midstream and downstream activities across Malaysia.
Meanwhile, ExxonMobil Exploration and Production Malaysia Inc, together with its production-sharing contract partner, Petronas Carigali Sdn Bhd, planned to invest over RM10 billion in new oil and gas assets to help ensure reliable and sustainable energy supplies for Malaysia.
This was a follow-through from the announcement of new tax incentives under the Petroleum Income Tax Act in November 2010.
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Dateline 2010-01-14:
The spiralling fuel price is expected to trigger a spike in the operating costs of Malaysia Airlines and AirAsia by 16 per cent and 46 per cent respectively in 2011.
This may in turn force both the airlines to impose a 25 per cent fuel surcharge.
Given that the fate of the aviation sector is still intertwined with the trend in crude and jet fuel price, the tolerance level of the industry is around US$117 to US$125 a barrel of jet fuel price, said MIDF Research.
It said at US$125 a barrel of jet fuel, the price should correspond with US$110 a barrel of crude oil and with the expectation of it averaging at US$105 a barrel in 2011,the airlines will still be within safe territory for the year.
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When will Bernama stop preventing a direct copy and paste from these websites? The food stall workers across the road are getting mighty fluent in English as they type this excerpt out for peanuts.
Dateline 2011-01-11:
Prime Minister Datuk Seri Najib Tun Razak on Tuesday announced 19 more Entry Point Projects (EPPs) under the Economic Transformation Programme (ETP).
He said the projects would generate almost RM67 billion in investments, RM36 billion in gross national income and create 35,000 new jobs.
Since the launch of ETP on Oct 25 last year, 18 EPPs have been previously announced.
In a media briefing here, the prime minister said the 19 EPPs and development projects would come from 10 National Key Economic Areas (NKEAs), led by four EPPs under the oil, gas and energy NKEA.
He said ExxonMobil Exploration and Production Malaysia Inc, together with its production sharing contract partner Petronas Carigali Sdn Bhd, planned to invest over RM10 billion in new oil and gas assets to help ensure reliable and sustainable energy supplies for Malaysia.
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Wata - Malaysian Oil and Gas Engineer 