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

Leave a Comment » | Malaysia, oil and gas | Permalink
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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Posted by Wata

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.
…

Leave a Comment » | investment, Malaysia, oil and gas | Tagged: , , , | Permalink
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.

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

Petronas, Dialog abort RM3.5bil Sarawak offshore projec

March 29, 2016

Ah, now I know one reason Dialog Offshore Engineering shut down.

Dateline 2016-02-04, The Star:

Petroliam Nasional Bhd (Petronas), Dialog Group Bhd and Australia-based petroleum company Roc Oil Co Ltd have aborted a proposed project estimated to cost more than RM3bil to develop and produce petroleum off Bintulu, Sarawak.

In a filing with Bursa Malaysia, Dialog said the small field risk service contract to develop the Balai cluster fields was terminated due to the difficult business environment and persistently depressed oil price.

The oil and gas-based technical services provider said BC Petroleum Sdn Bhd — which is 32% owned by its unit Dialog D&P Sdn Bhd, 48% by Roc Oil Malaysia (Holdings) Sdn Bhd and 20% by Petronas Carigali Sdn Bhd — had ceased operation and had on Wednesday signed a termination by mutual agreement with Petronas.

…

 

Leave a Comment » | Malaysia, oil and gas | Tagged: , , | Permalink
Posted by Wata

Saturday Star 2016-03-26– Job Opportunities

March 28, 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.
  • I believe PETRONAS is looking for an Advisor. Only applicants who reply ‘how high’ when ask to jump by the powers that be, need apply.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Nothing in the papers this week. See Happy note above.

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

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Shell agrees to sell its shareholding in the Shell Refining Company in Malaysia to Malaysian Hengyuan International Limited (MHIL)

March 27, 2016

And China continues to buy their way into Malaysia.

Dateline 2016-02-01, Oil & Gas News:

Shell has reached a conditional agreement with Malaysian Hengyuan International  Limited (MHIL) for the sale of its 51% shareholding in the Shell Refining Company (SRC) in Malaysia for $66.3 million. It is MHIL’s intention for SRC to invest in the upgrades needed to meet the Euro 4M and Euro 5 requirements. The transaction is expected to complete in 2016, subject to obtaining regulatory approval.

Shell Malaysia Trading will ensure security of supply to its retail and commercial customers in Malaysia and honour other existing commitments through an existing comprehensive supply strategy that includes a long term offtake from Shell Refining Company.

The sale is consistent with Shell’s strategy to concentrate its global Downstream footprint and businesses where it can be most competitive. Malaysia continues to be an important country for Shell.  Shell is the leading retail fuels and lubricants provider and continues to invest in growing these businesses in the country.

…

 

Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: , , | Permalink
Posted by Wata

Lundin Petroleum signs farm-out agreements in Malaysia

March 26, 2016

This legal, and does PETRONAS know? MPM, speak up.

Dateline 2016-02-01, Your Oil & Gas News:

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has signed farm-out agreements (FOA) with certain wholly owned subsidiaries of DYAS B.V. (“DYAS”) for part of its working interests across three Production Sharing Contracts (PSC) in Malaysia.

Ahead of the recently commenced exploration campaign in the Sabah region, offshore East Malaysia, Lundin Malaysia has entered into farm-out agreements with DYAS covering Blocks PM328, SB307/308 and gas holding areas in SB303 with an effective date of 1 July 2015.

The terms of the farm-out agreements are as follows;

1. PSC SB307/308: DYAS to be transferred a 20 percent working interest for paying a promote on certain forward costs in relation to the upcoming exploration campaign on Block SB307/308 in the Sabah region offshore East Malaysia.

…

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

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