IEM Shout Out – 2018-01 Talk on “Oil & Gas Industry in Turbulent Times: Safe Place? Play Safe? Or Don’t Play Play?”

January 19, 2018

Dont’ play play.

My technical division will be hosting a talk on the 20th January, 2018 (yes, I am slow this year). It is worth 2 CPD points, and held at Wisma IEM. The talk will be presented by Ir. Lee Chang Quan.

In view of the hazards and risks associated with production, transportation, and handling of hydrocarbon, companies in the oil and gas industry have always given the pledge to have business top priority to the subject of safety. People may get injured or killed, and environment may be damaged. It is evident from the history that, if the hazards and risks are not managed properly, catastrophic disaster could happen, as in the case of Piper Alpha, Bhopal, or to the recent one at Macondo.

Managing safety has remained a top challenge though. In the time of market volatility, many oil and gas companies have taken serious measures to control cost so as to survive the turbulence. It is in this time of cost pressure that the pledge of maintaining health and safety as the top business priority will be tested.  This talk will look into the key safety management challenges faced in the oil and gas industry, and share on how these challenges could be managed, especially in times of turbulence.

Ir. Lee Chang Quan started his career as a mechanical engineer with a design engineering firm, and moved on to join a national oil company. His experience in the oil and gas industry include engineering, procurement, installation and construction activities in plant modification and rejuvenation projects. He has led a few feasibility studies, engineering management work and managing brownfield projects. Later, he moved on to undertake operational excellence and improvement roles at business level. He is now the Health, Safety and Environment Manager with one of PETRONAS subsidiaries, formulating HSE strategies and implementation plan. He is a trained internal auditor, involving in Tier 1, 2, 3 HSE Assurance Programs. He is an active trainer in HSE programs.

Register here, or download the form here.


Mixed views on Petronas capex allocation

January 19, 2018

Dateline 2017-11-25, The Star:

Petronas records another strong quarter on stronger oil prices
Analysts are mixed on whether this means increased capex spending and activities
Outlook for crude oil prices remains uncertain due to risks on demand aswell as supply
OIL giant Petroliam Nasional Bhd (Petronas) recorded yet another strong set of results in the third quarter, with profit after tax (PAT) surging 64% to RM10bil.

The stellar performance followed a more than a four-fold jump in PAT to RM7bil in the second quarter, and an over 100% surge in net profit in the first quarter ended March 31, 2017, due mainly to recovering oil prices and efficiency improvements by the company.

The company is optimistic about its prospects as well, having said that it expects to record stronger results for the full-year, compared to the previous year.

Malaysia-Brunei annual leaders’ consultation sees signing of accord on oil, gas

January 18, 2018

Dateline 2017-11-23, Borneo Post Online:

The 21st Malaysia-Brunei Annual Leaders’ Consultation here today saw the signing of the Unitisation Framework Agreement which, in principle, will essentially finalise by mid-2018 the percentage of Petronas revenue from four oil and gas fields.

The agreement was signed by Petronas and the Brunei National Unitisation Secretariat at the conclusion of the annual talks by Malaysian Prime Minister Datuk Seri Najib Tun Razak and the Sultan of Brunei, Sultan Hassanal Bolkiah, at Istana Nurul Iman here.

A joint statement issued after the talks said the four fields were Kinabalu West (NAG) (KN), Maharajalela North Fields (MLJ), Gumusut/Kakap  (GK) and Geronggong/Jagus–East (GRG/JGE).

Speaking to reporters here, Najib said the annual talks also saw the signing of a memorandum of understanding on tourism.

 


Raja Ampat 2017-11 1 of 6

January 17, 2018

UPDATE 2-Malaysia’s Petronas sees stronger 2017 earnings after Q3 profit surges

January 16, 2018

Dateline 2017-11-23, Reuters:

Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, on Thursday forecast higher full-year earnings for 2017, after posting a 64 percent jump in third-quarter profit on improved oil prices.

A higher profit would be the second straight year of improved earnings at Petronas, reversing a two-year profit slump with the help of a modest recovery in oil prices and cost-cutting measures.

“Petronas expects the group’s overall year-end performance to be better than last year,” the company said, indicating an improved view of the energy market since August, when it expected its annual performance to be “fair”.


Saturday Star 2018-01-13 – Job Opportunities

January 15, 2018

Happy worry about a new year week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 2Q2018. Send me your POs.

Food choice of the week? Please patronise King’s Confectionery at IOI Mall. A member of the family is working there while waiting for exam results. Go on, you know you want to a donut (British edition) every 3 hours.

This week, may I suggest you have a peek at Dakwah Corner? They have branches in Subang Parade, PJ Section 14, Ampang Park (okay, forget about the Ampang Park branch)


Fuel subsidies back on Putrajaya’s card, Rafizi predicts

January 14, 2018

Dateline 2017-11-21, Malay Mail:

Will we see a return of fuel subsidies in the next few weeks? PKR’s Rafizi Ramli thinks so.

The Pandan MP said today after the Finance Ministry’s recent statement on fuel price, any government intervention would mean reverting back to a fixed price for fuel and going back to subsidies.

 


Will states’ O&G ambition be in conflict with PDA?

January 13, 2018

Dateline 2017-11-21, The Edge:

UP until a few years ago, any state looking to set up its own dedicated oil and gas outfit — and aiming for a larger share of oil revenue from production activities, or any similar plan — would have hit a brick wall in the form of Petroliam Nasional Bhd (Petronas). However, more recently, the situation has changed for various reasons.

In 2014, the Sabah government formed Sabah International Petroleum Sdn Bhd “as a special-purpose entity to support the state’s continuous development in the oil and gas sector and to further strengthen the Sabah government’s position in the oil and gas industry”.

And now, there is Petroleum Sarawak Bhd (Petros), which will seek a larger share of oil revenue from production activities for Sarawak.

 


Reject Territorial Sea Act restricting right over sea, Sarawak told

January 12, 2018

Yeah, tell Sarawak off.

Dateline 2017-11-18, FMT:

Sarawak PKR has called on the state government to reject the implementation of a law passed by Parliament in 2012 which limits the state’s sovereign right and jurisdiction over its surrounding seas, from within 12km from the coastline to just 3km.

Its vice-chairman See Chee How said the Territorial Sea Act 2012 (TSA) was unconstitutional as far as it affected the territorial boundaries of Sarawak and Sabah.

He said Sarawak should claim its full rights as specified under Article 1(3) of the Federal Constitution which stipulates that the territories of Sarawak, Sabah and 11 other states comprise areas they had jurisdiction over prior to Malaysia Day on Sept 16, 1963.

“The Federation cannot enact any law altering or affecting our territorial boundary unless Sarawak first passes a law in our legislative assembly to alter it,” he said.


Get mining licences and leases, Sarawak tells Petronas

January 11, 2018

Dateline 2017-11-17, The Malaysian Insight:

IN the latest move by Sarawak to reclaim its constitutional rights, the state government has told Petronas to get the necessary mining permits in a move seen as exerting its mining rights.

Chief Minister Abang Johari Openg said even though the Petroleum Development Act 1974 (PDA) gave the national petroleum company the right to explore and mine for petroleum in Sarawak, the state still retains the right to issuing mining leases.

He said the rights are listed in the federal constitution.

“The power of the state to issue mining leases remains in the state list of the federal constitution.