Talisman holds hope for Sabah O&G jobs

April 8, 2016

Talisman, job provider.

Dateline 2016-02-19, Daily Express:

Talisman Malaysia Ltd is in the process of finalizing the design of a 3,700-tonne Wellhead Riser Platform and 350-tonne bridge that will link to the existing Kinabalu platform in the west coast of Sabah.

Construction of these new facilities, which started in April, is expected to generate new job opportunities for locals in the oil and gas sector, at a time when many players are feeling the crunch of falling oil prices.

The oil price dip has forced several companies to resort to cutting expenditure and workforce.

According to Talisman, the project would take about 18 months to complete.

“This development project will create opportunities for Malaysian suppliers and service providers involved in the fabrication, installation and commissioning phases, and also for the subsequent drilling operations that follow in the third quarter of 2017,” Talisman said in a statement.

…

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Posted by Wata

Petronas to conduct tests on gas pipeline

April 7, 2016

Dateline 2016-02-20, Borneo Post:

Petronas is conducting a series of tests on the Sabah-Sarawak Gas Pipeline (SSGP) from February 15 to July 3 as part of its continuous efforts to ensure the integrity and safety of SSGP that runs from Kimanis, Sabah to Bintulu, Sarawak.

In a statement yesterday, the company advised the public not to be alarmed by the occasional hissing sounds, increased number of vehicles and workers along the pipeline and flaring at the Sabah Oil and Gas Terminal (SOGT) in Kimanis.

It will continue to engage the communities residing along the pipeline to update on the progress and measures undertaken throughout the duration of the tests.

Petronas is committed to the highest levels of international HSE standards to ensure the safety of the communities and environment in all areas of its operations, the statement added.

 

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Posted by Wata

IChemE – SONG

April 6, 2016

At one of the IChemE Oil & Natural Gas Special Interest Group (SONG) events, I caught up with Jeff Jones.

 

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Posted by Wata

Lower oil price is not a valid reason: SAPP

April 5, 2016

Dateline 2016-02-13, Daily Express:

Lower gas price is not a valid reason for the cancellation of the Lahad Datu Regasification Terminal which could have helped alleviate the energy woes of Sabah’s east coast region.

Sabah Progressive Party (SAPP) President Datuk Yong Teck Lee said the project was approved in 2012 and scheduled to be completed in 2015 and by the time oil and gas prices began to fall in the middle of last year, the project would have been completed or near completion.

“In any case, why would lower gas prices affect the Regasification Terminal investment? Would not lower gas prices make it more viable for our energy producer to produce cheaper electricity?” he said in a statement here, Friday.

Yong added that lower gas prices only means that Petronas Gas makes less profits from Sabah’s oil and gas.

…

 

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Posted by Wata

Saturday Star 2016-04-02– Job Opportunities

April 4, 2016

Happy Back to Home work. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). 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’m looking for jobs for 3Q2016. Send me your POs.
  • Nothing in the papers this week.

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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Posted by Wata

SC okays Sona Petroleum’s oilfield buy, notes ‘unfair’ price

April 3, 2016

You gotta read the full article, you shareholders, to figure out ‘unfair’ to who?

Dateline 2016-02-12, The Star:

Sona Petroleum Bhd has received the Securities Commission’s (SC) conditional approval to acquire the Stag Oilfield offshore Western Australia although the regulator also noted that the purchase price of US$50mil (RM207.8mil) was deemed “not fair” by an independent expert.

The special-purpose acquisition company (SPAC) told Bursa Malaysia that the SC had noted that technical and asset valuation expert Gaffney, Cline and Associates (Consultants) Pte Ltd (GCA), in its valuation report dated Jan 20, considered the purchase price “not fair”.
…

 

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Terminates pact to develop regasification plant in Sabah

April 2, 2016

Dateline 2016-02-11, Nikkei Asean Review:

Petronas Gas and Sabah Energy Corporation have mutually terminated a pact to jointly develop a liquefied natural gas project in the Malaysian state of Sabah.

“In view of the prolonged uncertainty of the regasification terminal Lahad Datu Project, the parties to the Shareholders Agreement have mutually agreed to terminate the said SHA effective 10 February 2016,” Petronas Gas said in a stock exchange filing.

In September 2013, Petronas Gas, which processes natural gas and operates pipelines in Malaysia, had offered Sabah Energy to acquire up to a 20% equity stake in the project.  The estimated 0.76 million metric ton per year plant was scheduled to start operation last year but a violent insurgency in 2013 led to an indefinite suspension of the project.
…

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Posted by Wata

Dialog move a game changer?

April 1, 2016

Dateline 2016-02-10, The Star:

Now that leading local oil and gas (O&G) player Dialog Group Bhd has called off its marginal oil field exploration project, the question is: will the other local companies, which had been awarded risk sharing contracts (RSC) by Petroliam Nasional Bhd (Petronas), be doing the same?

Since 2011, Petronas had begun a process of awarding RSCs to local companies which are partnered with international players to extract hydrocarbon assets in fields which have reserves of less than 30 million barrels of oil.

But this was when oil prices were over US$90 per barrel. At current prices of around US$30 per barrel, the extraction of oil in marginal oil fields, at least in Dialog’s case, has become no longer viable.

…

3 Comments | oil and gas | Tagged: , , | Permalink
Posted by Wata

Shout Out – Talk on Typical Changes Leading to Cost Overruns, Delays and Claims in Infrastructure, Oil and Gas Projects

March 31, 2016

Yeah, baby. The talk should be also labelled “maximizing your VO potential.”

This is a shout out for the IEM. My Technical Division will be  hosting a talk on the 7th April, 2016 by Mr. Kumar Arumugam. It’ll be at 5:30 pm .

Due to the complexity of infrastructure, oil and gas projects, various changes would inevitably lead to cost overruns and delays to the projects which poses significant challenge to both Client and Contractor in managing the expectation and resolution with respect to relief, cost and time impacts. Whilst change is unavoidable, the ability for the contracting parties to prepare themselves early in the project will reduce or attempt to avoid disputes is a critical success factor for the project, particularly relating to timely notice issuance, availability and keeping track of information, good record keeping and allocation of dedicated resources for contract management.

This talk is intended to provide participants with a brief awareness of key typical issues relating to changes in infrastructure/oil and gas contracts, to be able to:

  • Pro-active in setting up process to manage changes in the project;
  • Appreciate the need for good record keeping;
  • Set up framework for collection of factual data;
  • Avoid claims being barred;
  • Know when to issue notices and what information to be included;
  • Take early action to maintain control; and
  • Avoid or minimize disputes through proper contract administration.

Mr. Kumar Arumugam graduated from Universiti Teknologi Malaysia in 2000 with Bachelor of Electrical Engineering (1st Class Hons). He has over 16 years industry experience; having specialized in tendering, contract management, claims and claims avoidance for the last 10 years. Kumar specializes in contract management and contractual claims and has been involved in the preparation and defense of claims on behalf of both clients and Contractors in commercial negotiation and disputes, including preparation and presentation of contracts and claims strategy to client’s senior management. Kumar has extensive experience in building, infrastructure, and oil & gas projects.

Register here or download the form here.

Leave a Comment » | engineering | Tagged: , | Permalink
Posted by Wata

Diving – Bali 2015-12 Pt 7

March 30, 2016

You will be happy to note, this is the last set of photos. Go sponsor my next dive.

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Posted by Wata

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