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MOGEC – Golf Series 24 March 2018, Bukit Kemuning Golf and Country Resort
March 9, 2018
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Posted by Wata
MPRC’s Shahrol Halmi: Don’t be ‘overexcited’ about oil topping US$70
March 9, 2018Yeah, pay us little fish at higher rates, then we can get excited together. And don’t swallow.
Dateline 2017-01-23, The Edge:
Malaysia Petroleum Resources Corp Bhd (MPRC) said oil and gas (O&G) support service providers should not be “overexcited” about the recent rise in crude oil prices above US$70 a barrel. This is because prices of the commodity are still expected to be volatile.
MPRC, an agency reporting to the Prime Minister’s Department, was established to develop the O&G services and equipment (OGSE) industry in Malaysia. MPRC president Datuk Shahrol Halmi said OGSE companies should continue keeping an eye on efficiency in order to address cost while protecting profit margin through implementation of new technologies or integrated solutions.
“The interest in O&G companies is [returning] quite a bit, especially after the Petronas Activity Outlook (2018-2020 report) came out, and after Petronas contract awards recently. [But] the key point to note here is that one swallow does not make a spring.
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Posted by Wata
Petronas dishes out MCM contracts to Malaysian contractors
March 8, 2018Dateline 2018-01-17, Seatrade Maritimes News:
Petronas E&P unit Petronas Carigali has awarded a slew of contracts to provide maintenance, construction and modification (MCM) services at its offshore facilities in Peninsular Malaysia, Sabah and Sarawak to five local Malaysian contractors.
Carimin Engineering Services, Dayang Enterprise, Deleum Primera, Petra Resources, Sapura Fabrication and its joint venture partner Borneo Seaoffshore Engineering were selected for a five-year contract each with an option to extend another year, effective last September, local media reported.
“Under the terms of the contract, the engineering and maintenance services will include topside major maintenance and facilities improvement projects,” Petronas Carigali said.
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Posted by Wata
Diving Komodo 2017-12 – 1 of 8
March 7, 2018
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Posted by Wata
Third Party Access system no threat to Petronas Gas, says Kenanga Research
March 6, 2018Dateline 2018-01-16, The Sun:
Kenanga Research is of the view that the Third Party Access (TPA) system, which took effect yesterday, will not be a drag on Petronas Gas Bhd’s (PetGas) earnings, given that the company is purely a transporter and processor and is not involved in gas supply.
In any case, the research house said, TPA will only affect PetGas’ parent company, Petroliam Nasional Bhd (Petronas) and Gas Malaysia Bhd.
On Monday, PetGas announced that the Energy Commission had confirmed the current tariff for the Peninsular Gas Utilisation System, Regasification Terminal Sungai Udang and Regasification Terminal Pengerang will be maintained until the end of this year.
At the same time, the company said it is in full compliance with the technical and operational provisions of the TPA system, which allows any party to have access to gas facilities available.
Kenanga Research said the news was not a surprise, given the management indication earlier that the new tariff structure is likely to be delayed as the authority needs more time to come out with a feasible framework to ensure the stability of the fee structure.
The share price of PetGas has suffered since early last year, going from above RM21 to a 52-week low of RM15.82 before recovering to the current level of RM19. Kenanga Research said this was because the market was anticipating a severe cut in tariff, which will dampen PetGas’ earnings.
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Posted by Wata
Saturday Star 2018-03-03 – Job Opportunities
March 5, 2018Happy worry about the future 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? I’ll think about it.
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)
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Posted by Wata
Malaysia’s Sarawak state to take 10 pct stake in Petronas LNG facility
March 4, 2018Dateline 2018-01-16, Nasdaq:
Malaysian energy firm Petroliam Nasional Berhad, or Petronas, said the Sarawak state government will take an equity stake in one of its liquefied natural gas (LNG) production facilities.
The state government has signed a term sheet with Petronas for an equity participation in LNG Train 9 at the company’s LNG complex in Bintulu, Sarawak, Petronas said in a statement on Monday.
Sarawak will take a 10 percent equity stake, according to state news agency Bernama.
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Posted by Wata
A Look At Murphy Oil Corporation (NYSE:MUR) Malaysia E&P Operations
March 3, 2018Dateline 2018-01-14, Hadeplatform (not to be confused with Hades Platform, you ‘The Good Place’ fans):
Malaysia E&P operations reported earnings of $67.7 million for the third quarter of 2017, compared to earnings of $65.0 million a year earlier. Favorable to Malaysia was higher average oil and natural gas prices.
However this was mostly offset by lower natural gas volume sold, higher lease operating expense, higher depreciation expense and higher income tax expense. Crude oil and natural gas sales volumes in Malaysia were lower in the 2017 quarter versus 2016, primarily due to a maintenance shutdown in Sarawak in 2017.
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IEM Shout Out – 2018-03 “Talk on Chemical Enhanced Oil Recovery (CEOR) Strategy and Approach- Offshore Peninsular Malaysia Case Study”
March 2, 2018My technical division will be hosting a talk on the 10th March, 2018. It is worth 2 CPD points, and held at Wisma IEM. The talk will be presented by Ali Sabzabadi
The term Enhanced Oil Recovery (EOR) is being used in petroleum industry as Tertiary oil recovery whereby additional recovery can be obtained after natural recovery processes and conventional methods (e.g. water injection) have been exhausted. The EOR processes can be broken down in to three main categories, Thermal EOR (e.g. Steam injection), Immiscible/Miscible EOR (e.g. Lean Gas, CO2 injection) and Chemical EOR (e.g. Alkaline/Surfactant/Polymer injection). The field in focus that has been studied for Chemical EOR (CEOR) is an offshore oil field development in the Malay Basin in Peninsular Malaysia operated by PETRONAS Carigali, with Exxon as 50% stake holder.
Ali Sabzabadi holds a MEng. In Petroleum Engineering from Imperial College London, and a Chartered Petroleum Engineer with Energy Institute and member of UK Engineering Council. He has over 19 years of experience in Petroleum Engineering specialised in classical and applied reservoir engineering, Nu-merical Simulation, Full Field Development and Planning, Reservoir Management and Surveillance. His current role is leading an integrated subsurface technical team responsible for reservoir studies, full field reviews and developments up to EOR evaluations For Angsi and Besar fields in peninsular Malay-sia, and recently with Sarawak Oil FDP division. He has completed Full Field Development (FDP) plan for first offshore Chemical Enhanced Oil Recovery project for biggest oil producer field in Peninsular Malaysia. Have authored and co-authored few technical papers (SPE 165294, IPTC 18150, IPTC 18257).
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Posted by Wata
Pivoting
March 1, 2018Here’s an idea.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 