MOGEC NETWORKING LUNCH AND TALK 2016 by Tan Sri Dato’ Seri Haji Megat Najmuddin Bin Datuk Seri Dr Haji Megat Khas on “Whither Malaysia – Where Are We Heading?”, on 7th December 2016 @ RSGC, Kuala Lumpur.
Shout Out – 2016-12 MOGEC LUNCH AND TALK 2016
November 27, 2016
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Shell said to weigh sale of over $1b Malaysia LNG stake
November 27, 2016Hibiscus or CLIQ in the bidding?
Dateline 2016-10-14, The Star:
Royal Dutch Shell Plc is considering a sale of its stake in a Malaysian liquefied natural gas export plant, which could fetch more than $1 billion, people familiar with the matter said.
The Anglo-Dutch energy giant is gauging interest in its 15 percent stake in MLNG Tiga Sdn., which owns an LNG terminal in Sarawak on the island of Borneo, according to the people.
Malaysia’s state-owned Petroliam Nasional Bhd., which holds 60 percent of MLNG Tiga, has pre-emptive rights on the stake, one of the people said, asking not to be identified as the process is private.
The sale may draw interest from private-equity firms, the people said. MLNG Tiga, set up in 1995, is the third plant to be built in the Petronas LNG complex in Bintulu, Sarawak, according to its website.
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Palm oil-based drilling fluid soon
November 26, 2016Interesting. Where can I invest?
Dateline 2016-10-13, The Star:
A local oil and gas company is lending its industry expertise to Universiti Teknologi Malaysia (UTM) to develop what is believed to be the world’s first palm oil-based drilling fluid.
The collaboration between the university’s UTM-MPRC Institute for Oil and Gas, which is a recognised industrial centre of excellence, and Lekir Energy Sdn Bhd, is aimed at developing the green technology from one of Malaysia’s natural resources and provide a more environmentally-friendly alternative.
UTM deputy vice-chancellor (research and innovation) Prof Dr Ahmad Fuzi Ismail said the revolutionary fluid would take up two to three years to develop with the complementing efforts and expertise in renewable energy from both parties.
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Hibiscus to buy Shell’s operatorship of four oil fields offshore Sabah
November 25, 2016And that settles my thoughts as to when Hibiscus was going to spend its money, and who would want to buy the Shell Sabah blocks.
Dateline 2016-10-12, The Star:
Shell has reached an agreement to sell its 50% equity interest in the 2011 North Sabah enhanced oil recovery (EOR) production sharing contract (PSC) to Hibiscus Petroleum Bhd’s indirect unit SEA Hibiscus Sdn Bhd for US$25mil (RM104.8mil).
The amount excludes post completion adjustments and reimbursements to Shell.
Currently, Sabah Shell Petroleum Co (25%) is the operator, partnering with Shell Sabah Selatan (25%) and Petronas Carigali Sdn Bhd (50%) in the PSC, which includes the Labuan Crude Oil Terminal, and the fields of St Joseph, South Furious, SF30 and Barton, all located offshore Sabah.
Total oil production (on a 100% PSC basis) averaged 18 kilobarrels (kbbls) per day last year, according to statements from Shell and Hibiscus.
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Petronas shares knowledge on oil and gas industry
November 24, 2016Am I not a blogger? Why weren’t we, the small guys, invited? Did you have to have a Sarawak work pass to attend?
Dateline 2016-10-12, Borneo Post:
Petroliam Nasional Berhad (Petronas) hosted a one-day workshop with the media for knowledge sharing on the oil and gas industry and provide the media with a better understanding of the dynamics of the industry.
The workshop entitled ‘Oil and Gas for Media’ was held at Petronas Sarawak regional office in Wisma Naim here yesterday.
Among issues discussed during the workshop were Petronas’ business and key activities, technology and engineering, exploration and production, social and environment concerns, revenue management, corporate social investments and other emerging issues in the oil and gas industry.
Its media and communication manager Johannes Ridu said the objective of the workshop was aimed to enhance the participants’ awareness on the factors and developments that impacted Malaysia’s oil and gas industry and Petronas’ role and direction in shaping it.
“It is our hope that through this workshop, the media will have a better understanding of the industry especially in Sarawak as well as Petronas’ business and its broad strategies,” he said.
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Marketing Rounds – PUSB
November 23, 2016I was in Brunei, and happened to be at the Petrokon offices during a fire alarm. False alarm.
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IEM Shout Out – Two-Day Course on Critical Thinking for Engineers 2016-11
November 22, 2016My technical division will be hosting a 2 day course on the 7th and 8th December, 2016. It is worth 10.5 CPD points, and held at Wisma IEM. The course will be presented by Ir. Al-Khairi Mohd Daud.
Learning Outcomes
• Explore real-world examples of why critical thinking is so important in business
• Learn to use critical thinking skills when making business decisions
• Know how to translate an abstract idea into something tangible
• Minimize the impact of job pressures on your thinking processes
• React with curiosity instead of emotion
• Get a roadmap for developing your critical thinking skills
Ir. Al-Khairi Mohd Daud has over 23 years of experienced in Oil and Gas, petrochemical, oleo chemical, manufacturing and facilities management. He is the country expert for ASEAN Energy Management Accreditation Scheme and an expert in healthcare facilities management. He has assisted in drafting few Malaysian Standards including the Malaysian Standard for Quality in Healthcare. He has presented papers in national and international conference especially on maintenance and asset management. He is the owner of Faqeh Management who specialized in asset and energy management.
Ir. Danaraj Chandrasegaran graduated from University Teknologi Malaysia in 2001 with Bachelor of Mechanical Engineering (Hons). Subsequently, pursued his Master Degree in University of Malaya. He has published in international journals and conferences in the past. His career has a diverse outlook on project execution ranging from building construction, marine, mining and energy industry; as a mechanical engineer.
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Malaysia’s InvestKL Woos Top Oil, Gas MNCs to Base in Kuala Lumpur
November 20, 2016Why isn’t InvestMalaysia wooing me to be an overachiever?
Dateline 2016-10-06, Rigzone:
Malaysia’s InvestKL is more than half way to completing its mission: attracting 100 multinational corporations (MNC), including top oil and gas firms, to base their regional headquarters in Greater Kuala Lumpur (KL) by 2020.
Luring oil and gas MNCs ranked among the Fortune 500 or Forbes 2000 group of firms looms large for InvestKL given Malaysia’s well established petroleum industry, anchored by national oil company (NOC) Petroliam Nasional Berhad (PETRONAS).
“It’s is not the main focus, but it’s certainly a key sector because oil and gas is one of the 12 national key economic areas. KL is also an oil and gas hub for Southeast Asia,” Daniel Teng, senior director of Marketing & Communications, Strategy, Advisory and Services at InvestKL told Rigzone.
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IAEA team to review Malaysia’s nuclear energy infrastructure
November 19, 2016Dateline 2016-10-06, The Sun Daily:
International Atomic Energy Agency (IAEA) experts will be in the country next week to conduct the first Integrated Nuclear Infrastructure Review (INIR), says Malaysia Nuclear Power Corp (MNPC) CEO Mohd Zamzam Jaafar.
He said the 12 experts, mostly from the IAEA headquarters in Vienna, Austria, would review Malaysia’s state of preparedness for nuclear energy development, from Oct 10 to 17.
“Malaysia is almost there (for nuclear energy development) but there are still certain things that need to be done,” he said, adding they included the tabling of a nuclear energy bill and identifying a site for the nuclear energy programme.
Mohd Zamzam told a media briefing here yesterday that the outcome of Malaysia’s INIR review would be out by year-end, and was optimistic it would be a positive review.
He said Malaysia had also submitted its self-assesment to IAEA, with all the necessary documents, in May this year.
On nuclear programme awareness in Malaysia, Mohd Zamzam said most Malaysians had negative impression when they hear the word ‘nuclear’.
“MNPC will conduct education programmes to spread information on nuclear energy for power generation,” he said, adding that, currently, nuclear energy in Malaysia was only used in the medical and agricultural sectors.
MNPC, he said, forecast that Malaysia would only be able to have its own nuclear programme for energy generating purposes after 2030.
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Bondholders in quandary as oil prices drop
November 18, 2016Were there O&G unit trusts issued during the good times?
Dateline 2016-10-04, FMT:
As the drop in oil prices leaves more companies in the industry starving for cash, bondholders and lenders are beginning to feel the pain.
And bondholders are seeking action to ensure they do not lose out.
According to a Bloomberg report, a group of bondholders last week issued a notice of acceleration on SD125 million of bonds sold by Malaysian oil services company Perisai Petroleum Teknologi Bhd.
Also last week, dozens of bondholders gathered outside a trustee’s office in Singapore to deliver a demand for immediate payment on S$100 million of notes issued by shipping trust Rickmers Maritime.
Bloomberg said Perisai didn’t reply to two e-mails seeking comment on its plan to defer its bond repayment by four months, which was rejected by bondholders on Monday.
Perisai’s 6.875 per cent notes were at 55 cents.
“Yes, it’s our responsibility that we bought the bonds but the company can’t just brush us aside,” bondholder Cheng Fong Kiew was quoted as saying after rejecting the plan.
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Wata - Malaysian Oil and Gas Engineer 