SapuraKencana forced to restructure amid weak oil price

May 26, 2016

Bit early to restructure, ain’t it, after being profitable since going public?

Dateline 2016-04-16, Nikkei:

Malaysia’s largest oil and gas company by market capitalization will undertake a restructuring exercise effective June 1, that may involve “redundancies.”

The region’s oil and gas industry, including rig builders is suffering from a serious supply glut as oil producers cut spending on exploration and production in the face of weak oil prices. The so-called “rightsizing” of the industry’s operations is likely to continue.

SapuraKencana Petroleum‘s revelation comes less than a month after the oilfield services company announced a net loss of 791 million ringgit ($202.4 million) for the fiscal year through January. The loss, its first since going public in May 2012, was largely attributed to having to set aside higher provisions for the asset impairment setbacks it is suffering due to the commodities swoon that began in the second half of 2014.

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Marketing Rounds – Diving 2016/02 Koh Lipe Pt 2

May 25, 2016

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Stay 500 metres away from oil rigs

May 24, 2016

You talking to us divers?

Dateline 2016-04-10, Borneo Post:

Fishermen have been advised to keep the safe distance or safe zone of 500 metres from oil rigs for their safety when out fishing in deepwater, said Marine Operations Force Sabah/Labuan Commander, ACP Mohamad Madun.

Fishing within the 500-metre safe distance of oil rigs would not only endanger fishermen but also offshore workers, he said.

“The 500-metre safe distance is based on standard SOP which must be observed and abided by all sea users such as fishermen, tour guides and fishing hobbyists.

“This is to ensure the public’s safety as well as safety of crewmembers working in oil rigs,” he said at a press conference during a dialog with local fishermen at SK Pulau Gaya yesterday.

Also present were Petronas General Manager of Sabah and Labuan Regional Office Julita Ontol and SK Pulau Gaya principal Jasmen Elahan.

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Saturday Star 2016-05-21– Job Opportunities

May 23, 2016

Happy Visit Banjarmasin week. 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.

  • Enquest is looking for a senior production engineer, Maximo support engineer,  instrument engineer, rotating equipment engineer. Send an email here.
  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • I’m looking for fresh meat-ish, to help with a peak word period.
  • I’m looking for jobs for 3Q2016. Send me your POs.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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Mindef mulls over forward base to protect Sarawak waters

May 22, 2016

I wonder if Seaventures can rent out helideck space for drones?

Dateline 2016-04-06, Malay Mail:

Sarawak’s first forward operating base modified out of a decommissioned oil platform may be built in Bintulu waters to tighten security of the coastline town noted for its multi-billion ringgit oil and gas industry.

Defence Minister Datuk Seri Hishammuddin Hussein said it will be modelled after Sabah’s foward base which was completed with the cooperation of oil giant Petronas.

“If that (foward base) is suitable for implementation in Bintulu, with assistance from those in the oil and gas industry, we will be able to respond faster,” he told reporters after launching the national-level Army Veteran Entrepreneurs Carnival here today.

If the plan materialised, Hishamuddin said, the foward base would be able to operate as helicopter landing base, handling unmanned aerial vehicles, better known as drones, and station the special task force.

He said the matter will be discussed in detail with the oil and gas industry after the 11th state election as it was quite expensive to set up such facilities in the open sea.

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Sabah Suspends All Barter Trades, Oil And Gas Activities Within ESSZONE

May 21, 2016

Dateline 2016-04-06, Malaysian Digest:

The Sabah state government has unanimously agreed to immediately suspend all barter trade activities as well as commercial petroleum and gas activities within the Eastern Sabah Security Zone (ESSZONE).

Chief Minister Datuk Seri Musa Aman said this was a proactive measure taken to curb kidnapping and abduction cases within the state’s waters.

The usage of ports in Kudat district to ferry passengers between Sabah and Palawan in the Philippines are also suspended with immediate effect, he said.

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PETRONAS Carigali Bars THHE’s Unit from Participating in Tenders

May 20, 2016

I think this is the first time that complaints about the quality of service providers moved from the whining stage to black and white. In case you didn’t know THHE is a subsidary of Tabung Haji.

Dateline 2016-04-05, Rigzone:

TH Heavy Engineering Berhad (THHE) reported Monday that its 70-percent owned unit THHE Fabricators Sdn. Bhd. (TFSB) had received a letter from PETRONAS Carigali Sdn Bhd in connection to TFSB’s ongoing contract for the procurement, construction and commissioning (PCC) of KNPG-B Topside PH II for the Kinabalu Non-Associated Gas (NAG) Development Project (Kinabalu Project) offshore Malaysia that was awarded Jan. 28, 2014.

PETRONAS Carigali stated in the letter that “due to performance related issues pertaining to the execution of the Kinabalu Project, TFSB will be excluded from participating in future PETRONAS Carigali’s tender for a duration of 2 years,” TTHE said in a filing with local stock exchange Bursa Malaysia.

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Sabah govt denies oil and gas project in Kudat

May 19, 2016

For you speculators.

Dateline 2016-04-04, The Star:

The Sabah government has denied a claim that an oil and gas project has been earmarked for Kampung Limau Limauan, Kudat.

Dismissing reports, State Deputy Chief Minister Datuk Raymond Tan Shu Kiah (pic) said even though a 485-hectare site had been allocated for an industrial development in Kudat, the state government had not made any decision to develop any o and g projects in the area.

“The state government or any of its agencies has not given any approval to Borneo Petroleum  and  Petrochemical Sdn Bhd (BPP) to undertake any form of development on the land.

“A claim made by BPP that it is working in partnership with the Sabah Economic Development Corporation (Sedco) is false.

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Marketing Rounds – Diving 2016/02 Koh Lipe Pt 1

May 18, 2016

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Shout Out – Talk on “Enhanced Oil Recovery in Malaysia – Challenges”

May 17, 2016

My technical division will be hosting a talk on the 18th May, 2016. It is worth 2 CPD points, and held at Wisma IEM. The talk will be presented by Ir. Razak Yakob. Please come, or I’ll be beaten up in a dark alley.

In order to sustain the local production EOR is one of the major agenda in our Economic Transformation Program.  It is one of the 13 Entry Points Project that supports the Oil, Gas and Energy NKEA (National Key Economic Areas).  Even with the high recovery factor, EOR is still a very challenging program to be implemented in Malaysia due to the offshore environment, formation characteristics, high investment cost, and expertise availability.  This talk shall focus on sharing the knowledge of what EOR is and the challenges of implementing it in Malaysia.

Ir. Razak Yakob was the Well Delivery Manager for the Enhanced Oil Recovery Centre (EORC) in 2012/2013. He was also the Senior Drilling Engineer for a Risk Service Contract Project in 2014/2015.  Razak has been in the oil and gas industry for 19 years working for companies such as ExxonMobil, Halliburton, Talisman Energy, Petronas Carigali and EQ Petroleum/Uzma Engineering.

His core expertise is in Drilling Engineering with the working experiences spanning from development and exploration, technical support, training, competency development, finance and consultancy. As an independent consultant, he has worked in many parts of the world. He was a graduate of Colorado School of Mines in the United States with a degree majoring in Petroleum Engineering and a minor in Mechanical Design.

Register here, or download the form here.

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