Malaysia aims to cut oil revenue contribution to below 30 per cent

May 25, 2014

Dateline 2014-04-12, Malay Mail Online:

The government is looking to reduce its dependency on oil revenue to below 30 per cent by broadening the tax base, said Minister in the Prime Minister’s Department, Datuk Seri Abdul Wahid Omar.

He said reducing the dependency on oil revenue would be plausible by improving the collection of other forms of tax revenue and by broadening the tax base with the goods and services tax.

Abdul Wahid, however, declined to specify a timeframe for the target. “We have commenced to diversify revenue sources and strengthened revenue collection. The government’s revenue was 12.1 per cent higher at RM207.9 billion in 2012 from RM185.4 billion in 2011.

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Malaysia to raise natural gas price from May 1

May 24, 2014

Dateline 2014-04-11, Reuters:

Gas Malaysia Bhd , the country’s sole supplier ofnatural gas to the non-power sector, said on Friday it has obtained government approval to raise the natural gas tariff in peninsular Malaysia from May 1.

The tariff adjustment follows a 14.89 percent rise in electricity charges announced in December as part of the government’s aim to cut subsidies and reduce its budget deficit.

The gas price hike is not applicable to liquefied petroleum gas or natural gas for vehicles. The tariff for residential consumers and those who consume less than 600 million metric British thermal unit (mmBtu) a year remain unchanged, according to a stock filing from Gas Malaysia.

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Malaysia to boost oil storage business as new terminal starts on Saturday

May 23, 2014

Dateline 2014-04-11, Reuters:

Malaysia’s biggest commercial oil storage facility will start operations on Saturday when it receives its first fuel shipment, expanding Southeast Asia’s share in the oil storage business and also raising competition with neighbouring Singapore.

The $600 million oil storage terminal with a capacity of 1.28 million cubic meters at Pengerang in the southern Malaysian state of Johor will receive a clean oil product shipment on Saturday morning, Dialog Group Bhd, one of the owners of the terminal, confirmed to Reuters in an email.

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Petronas splits exploration, production unit to enhance ownership, accountability

May 22, 2014

Hey, as long as my slice of the pie is bigger, slice and dice as much as you like.

Dateline 2014-04-09, The Star:

Petroliam Nasional Bhd (Petronas) is splitting its exploration and production (E&P) division into domestic and international segments to make the businesses more focused and accountable, sources said, adding that the oil giant was benchmarking this move against what Shell, ExxonMobil and Total had done recently.

Previously, Petronas’ E&P unit had not clearly demarcated its international and domestic operations.

The move is said to be part of a plan by Petronas to concentrate more on its domestic and international roles that require different skill sets, considering that it competes internationally with oil giants, whereas locally, it is the owner of the hydrocarbon deposits.

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

May 22, 2014

My technical division will be hosting a 1 day course on the 26th June, 2014. It is worth 6.5 CPD points, and held at Wisma IEM. Since I’m giving it, I expect hoards will have to be turned away at the gates.

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 16 years of experience in the oil and gas industry, in both design and operations.

Register here, or download the form here.

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IEM Shout Out – 1 Day Seminar on The Application of Engineering Finance Methodology in Structuring A (Long-Term) Financially Sustainable Project

May 21, 2014

This is a shout out for the IEM. My Technical Division will hosting the above seminar on the 5th June, 2014. by Ir. Prof. Madya Dr Maulud Abdul Latif.

Learn how to (re)structure projects to ensure sustainability using the Engineering Finance(c) methodology and its tool called Techno-Financial Model(c) (TFM). The seminar aims to inculcate cost consciousness amongst directors and senior and middle management facing heavy responsibilities in a borderless and globalised world and to expose them to the many uses of Techno-Financial Model in considering different Technology or Product options that could optimise returns.

Engineering Finance can be described as the ‘bridge’ that bridges the gap between “Engineering” and “Finance” to structure a cost-efficient project design/plan that is financially viable. This Engineering Finance methodology could also be used to evaluate the impact of “Technology” and “Product” changes on the IRR, i.e. financial viability. It can also be used to identify the project’s Critical Component (CCA) that could undermine the viability of the project. This TFM can also be used to prepare construction budget and O&M (post construction) budget.

Update with new terminologies in Engineering Finance e.g. Cost Efficiency Model, Economic Efficiency, Techno-Financial Model etc. Case studies from Biomass Power Plant to Biodiesel Plant to Mining and Property development.

The course will delve on:

  •   Understand the concept of Engineering Finance as a ‘bridge’ to develop a proper mindset for creating financial models.
  • Understand common definition & terminologies used in Engineering Finance e.g. Critical Components Analysis (CCA) etc.
  • Learn new Engineering Finance methodologies e.g. Techno-Financial Modelling (TFM), Cost Efficiency Model (CEM), Economic Efficiency (EE) and Product-Technology Option Matrix.
  • Understanding thoroughly key criteria used to assess project viability such as Project IRR, Equity IRR, ROE, ROI, etc.
  • Understand the importance of corporate structure in structuring the financial model.
  • Know the types of project funding available, their difficulties and obligations.
  • Learn how to conduct a full feasibility study using Engineering Finance Project Implementation Flow Chart. Definition and concept of Engineering Finance.

The seminar will be led by Ir. Prof. Madya Dr Maulud Abdul Latif. He obtained his Engineering Doctorate (EngD) in Engineering Finance at the UTM/University of Warwick. He also holds an MBA Finance from the University of Queensland Business School, a B. Sc. (Hons) Mining Engineering from the University of Wales and a Diploma in Mechanical Eng. from Universiti Technologi Malaysia. In addition, he holds the Dredgemaster Certificate of Competency and is a member of the Board of Professional Engineers, Institute of Engineers and Institute of Mineral Engineers.

You can register here. Fliers may be obtained here.

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Marketing Rounds – TUV NEL Flow Measurement Conference 2014

May 21, 2014

I would like to registar ‘Persaudaraan Pekerja Juruukur and Peruntukkan Malaysia’ with the ROS. Is there enough interest for a quorum?

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Petronas’s floating LNG facility to be completed by late 2015

May 20, 2014

Dateline 2014-04-08, The Sun:

Petroliam Nasional Bhd’s (Petronas) floating liquefied natural gas (PFLNG 1) facility – the first in the world – being constructed at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea, is scheduled to be completed in the fourth quarter of 2015.

In a press statement yesterday, Petronas said PFLNG1, also dubbed PFLNG Satu, will be moored in Malaysia’s Kanowit gas field, 180km offshore Sarawak, set to produce 1.2 million tonnes of LNG every year.

“It will play a significant role in Petronas’s efforts to unlock the gas reserves in Malaysia’s remote and stranded fields currently deemed uneconomical to develop and evacuate and will help meet the growing demand for gas,” it said.

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IEM Shout Out – 1 Day Seminar on Construction Blasting: Current Issues

May 20, 2014

This is a shout out for the IEM. My Technical Division will hosting the above seminar on Wednesday the 4th June, 2014 by Ir. Tony Chew, Juna Azleen bin Abdul Ghani, Ir. Look Keman Sahari.

As a result of fast pace development housing, business centres, factories etc are being built near existing structures. Development within city areas for examples requires firm foundation below the surface where underground space are also used as car parks, LRT stations, bus station etc. Excavation of underground space requires the removal of soil and also rocks. In both Selangor and Penang Island the need for building new houses for expanding population requires the cutting and levelling of hilly areas. All these require the use of explosives.

Blasting of rock using explosives near existing structures especially where people live requires special expertise which ordinary shotfirers and even blasting engineers do not learn even in universities. Experience and guide from experienced engineers are needed to ensure successful and safe blasting work.

This one day seminar will discuss the current Regulatory requirements, procedures and also the need for proper competence persons to ensure the safety of the blasting work at construction sites. Standards that are being used as references will also be discussed. Current methodology being practiced will also be shown and case studies from previous project locally and overseas will also be referred.

Not forgetting, the peril of blasting work may result in incidents such as flyrock issues which had caused property damages and sometimes can be fatal. These incidents may result in long work stoppages. Techniques being applied to mitigate flyrock issues and also other environmental issues will be presented. The alternatives means of breaking rocks will also be discussed.

 

You can register here. Flyers may be obtained here.

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Saturday Star 2014-05-17 – Job Opportunities

May 19, 2014

Happy Vung Tau Week (still).

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper

  • I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Technip is asking if you are ready for a RAPID development. They are looking for people in Operations, Engineering, Construction and Support. Apply at http://www.technip.com → careers.
  • ExxonMobil is looking for safety facilities engineer, control applications engineer, mechanical engineer, real time optimization engineer. Apply here.

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!

If you need electronic equipment sorted out, may I suggest RHS Star, No. 22 (Unit 1), Jalan Puchong Permai 2, Taman Puchong Permai, 47100.
Since I had just noted the passing of Trevor Kletz, I would like to suggest that this week you dedicate to purchasing books written by him:

What Went Wrong?, Fifth Edition: Case Histories of Process Plant Disasters and How They Could Have Been Avoided (Butterworth-Heinemann/IChemE), Still Going Wrong!: Case Histories of Process Plant Disasters and How They Could Have Been Avoided, Process Plants: A Handbook for Inherently Safer Design, Second Edition

4 Comments | engineering, Malaysia, oil and gas | Tagged: , , , | Permalink
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