IEM Shout Out – 2016/04 Full-Day HAZOP Training For Team Members – A Practical Approach

March 25, 2016

My technical division will be hosting a 1 day course on the 28th April, 2016. It is worth 6.5 CPD points, and held at (wait for it) Hilton PJ. Since I’m giving it, I expect hoards will have to be turned away at the gates. And it’s a big room, so I need to fill the seats.

A Hazard and Operability study is a formal and systematic and detailed examination of the process and engineering intentions of new or existing facilities which assesses the hazard potential and effects on the facility as a whole when operation is outside of the design envelope, or individual items of equipment malfunction.

This course is designed to educate participants in the HAZOP process from the perspective of a HAZOP team member. It is meant to provide both instruction and workshop sessions so that the participants:

  • Are familiar with the concept of ‘risk’
  • Are familiar with the theory behind HAZOP
  • Are familiar with the actual HAZOP workshop process
  • Have expectations as to what the HAZOP will (and won’t provide)
  • Understand what deliverables can be expected from a HAZOP
  • Have the opportunity to participate in HAZOP exercise in a safe environment
  • Opportunity to share HAZOP experiences

At the end of the session, the participants should:

  • Understand the responsibilities of all parties in the HAZOP
  • Have experience in a HAZOP session.
  • Understand the outcomes from a HAZOP session

Wata has 19 years of experience in the oil and gas industry, in both design and operations.

Register here, or download the form here.


Determining the price of oil

March 25, 2016

If you were curious.

Dateline 2016-01-29, FMT:

Three types of market

Since the second half of the 1970s, oil market transactions have gradually replaced the old system of “producer prices”, whereby a dominant supplier or suppliers of crude would impose a reference price on buyers.

Today there are three types of oil markets. On the physical “spot” market, delivery of oil is almost immediate following a transaction.On the physical “forward” market, the delivery occurs but not immediately.

Finally, on the “futures” market, investors buy or sell future intentions to hand over a quantity of oil. The timeline can vary from several months to years, while the seller and buyer virtually never take receipt of oil and the deal remains a “paper” transaction.

Financial journalists mainly report on the “futures” market.


Anniversary – Exxon Valdez

March 24, 2016

EPMI engineers never forget.


Diving – Bali 2015-12 Pt 6

March 23, 2016

Liberty Bell, again.


Lundin commences Maligan exploration well

March 22, 2016

Dateline 2016-01-29, Your Oil & Gas News:

Subsidiary Lundin Malaysia BV (Lundin Malaysia) has commenced drilling of the Maligan exploration well in Block SB307/SB308, offshore East Malaysia.

The Maligan prospect is in shallow water and lies to the north of a major producing field in offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands.

Maligan will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,700 metres below mean sea level.  The drilling of the well is expected to take approximately 30 days.


Saturday Star 2016-03-19– Job Opportunities

March 21, 2016

Happy Penambang, Kalimantan Week. 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


Murphy cuts budget by 62%

March 20, 2016

I don’t know whether they mean Malaysia opns, or worldwide opns.

Dateline 2016-01-27, Asia Oil & Gas:

Sarawak gas project operator, US-based Murphy Oil Corp., reported net loss of US$2.27 billion for 2015, plus cuts budget by more than half.

The company plans to reduce capital expenditure this year to $825.0 million, approximately 62% lower than the $2.19 billion spent in 2015.

About 45% will be allocated towards offshore spending, 41% towards Eagle Ford Shale and 14% for onshore work in Canada.

Production for Q1 2016 is estimated in the range of 190,000-194,000 boe/d with full year production to be between 180,000-185,000 boe/d.

“We remain focused on driving down operating and G&A costs across all segments of our business,” said Roger W. Jenkins, president and CEO of Murphy. “The cost reductions better positions the company to weather the anticipated ‘lower for longer’ commodity price environment.”


Lundin Petroleum hits oil offshore Malaysia

March 19, 2016

That’s a high working interest.

Dateline 2016-01-25, Energy Voice:

Lundin Petroleum said it has hit oil after completing work on the Bambazon exploration well offshore East Malaysia.

The company said the well encountered 15 metres of reservoir pay with oil shows over three main reservoir intervals.

The well in Block SB307/SB308 has since been plugged and abandoned.

It was drilled with the West Prospero jack-up rig to a total depth of 1,380 metres.

Lundin Malaysia holds an 85% working interest in SB 307/308.

 


S&P says oil price revision won’t immediately impact Petronas ratings

March 18, 2016

Eventually, perhaps. I wonder how Khazanah and PETRONAS interact?

Dateline 2016-01-22, The Star:

Standard & Poor’s Ratings Services says its recent revision of its oil price assumptions won’t immediately affect the ratings outlook of Petroliam Nasional Bhd’s (Petronas).

The international ratings agency said on Friday its revisions were US$40 per barrel of Brent crude in 2016 and US$45 in 2017.

However, it stated the recent revision of its oil price assumptions would not have an immediate impact on Petronas (foreign currency A-/Stable/–; local currency A/Stable/–; axAAA/–).

“We expect Petronas to maintain its critical policy role for Malaysia, its large  direct and indirect contribution to the country’s budget, and its integral link with the Malaysian government through full state ownership,” it said.

 


Lundin sells Malaysian infrastructure

March 17, 2016

M3nergy must be happy. FPSO operation team probably isn’t.

Dateline 2016-01-22, UPI:

Swedish energy company Lundin Petroleum said it was taking in cash after shedding infrastructure in Malaysia it said is not part of its core business strategy.

Lundin said it agreed to sell offshore floating production and storage vessel Bertram to M3Energy Investment Ltd., a state-controlled energy company in Malaysia, for $265 million.

“Owning infrastructure assets is not part of Lundin Petroleum’s core strategy and this transaction will allow us to redeploy this capital into other areas of our business to fund our value driven growth,” President and CEO Alex Schneiter said in a statement.