Mida in talks with seven foreign oil firms

May 8, 2014

Date 2014-04-28, The FMT:

The Malaysian Investment Development Authority (Mida) says it is talking to at least seven American and European investors to participate in Malaysia’s oil and gas (O&G) industry.

Mida’s CEO Azman Mahmud said it was too early to name the parties but said they represent new investors as well as existing ones that are looking at new fields.

Azman said in 2013 Mida approved some RM7.05 billion of investments in the O&G sector, involving 18 projects in machinery and equipment, petroleum and petrochemical sectors, engineering support services and O&G services.

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Posted by Wata

IEM Shout Out – Talk on Engineering Finance Made Easy For Engineers

May 7, 2014

This is a shout out for the IEM. My Technical Division will be having a talk on Saturday 17th May, 2014. It’ll be at 9:00 am (makan-makan at 8.30) at Wisma IEM.

The talk will be an introduction on how to (re)structure projects to ensure sustainability using the Engineering Finance(c) methodology and its tool called Techno-Financial Model(c). It is also 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 (TFM) in considering different Technology or Product options that could optimise returns.

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

You can register here and download the flyer here.

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Posted by Wata

Is Petronas strategy bearing fruit?

May 6, 2014

Dateline 2014-04-26, Malaysia Chronicle:

EXPLORATION AND PRODUCTION – National oil company went into deeper waters and complex fields the past four years

Petroliam Nasional Bhd (Petronas) has embarked on an aggresive exploration and production strategy, testing new play types in deeper waters and complex fields the past four years, which have proven fruitful.

Petronas president and chief executive officer Tan Sri Shamsul Azhar Abbas said this has helped the group unlock new reserves in Malaysia that were only years ago considered too challenging and costly.

“For the second year running, we have increased domestic production, thanks to our enhancement of initiatives,” he said at the opening of the Offshore Technology Conference Asia 2014, here, yesterday.

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Saturday Star 2014-05-03 – Job Opportunities

May 5, 2014

Happy Vung Tau Week.

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.
  • Qatar Petroleum International is looking for people for its Refinery Maintenance Department and Refinery Operations Department. Apply here or visit the website.

Here’s a quick list of tech podcasts I follow:

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!

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

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BC Petroleum Gets Nods to Develop Bentara Oil Field Offshore Sarawak

May 4, 2014

Rigzone, dateline 2014-03-26:

Roc Oil Company Limited (ROC), announced Tuesday that BC Petroleum Sdn Bhd (BCP) the 48 percent owned company incorporated to operate and manage the Balai Cluster Risk Service Contract (RSC), has received approval of the FDP (field development plan) from Petronas for the initial phase in the development of the Bentara Oil Field within the Balai Cluster offshore Sarawak, Malaysia.

Commenting on the FDP approval ROC’s CEO Alan Linn said: “Approval for the initial phase of the Bentara oil development is a direct outcome of the risk managed and staged pre development approach implemented by BCP to appraise and accelerate oil production from the Balai Cluster. In the process, we have also identified additional potential within the cluster area and will be proposing further study and appraisal activity in support of the next stage of potential development from Bentara and associated fields”.

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Malaysia’s upstream O&G sector capex to near US$60b over 5 years, says Najib

May 3, 2014

Show us the money!

Malay Mail, dateline 2014-03-25:

The capital expenditure in Malaysia’s oil and gas sector’s upstream business is forecast to near US$60 billion (about RM198 billion) over the next five years, Prime Minister Datuk Seri Najib Tun Razak said today.

He said the amount contributed significantly to the total upstream spending in South East Asia, which was expected to receive one-fifth of the global upstream spending in the next decade.

“While global upstream spending in the oil and gas sector is expected to remain set at around US$700 billion (about RM2.31 trillion) over the next decade, close to 20 per cent of this spending will be here in South East Asia,” said Najib, who is also the Finance Minister, at the opening of the inaugural Offshore Technology Conference Asia 2014.

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Rapid investment may top US$50b

May 2, 2014

NST, dateline 2014-03-24:

Mida confident that investment outlook on O&G sector will remain positive.

INVESTMENTS at the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, could top US$50 billion (RM165 billion) by 2020, 150 per cent more than the initial
target of US$20 billion.

Malaysian Investment Development Authority (Mida) said Pengerang will serve as catalyst for development in areas such as refinery, petrochemicals, power, naptha cracker and regasification plants, as well as crude oil storage and liquefied natural gas storage tanks.

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Labuan Chinese Chamber rejoices over revival of mega oil-gas project

May 1, 2014

Revival? When was the first attempt?

Daily Express, dateline 2014-03-25:

The Chinese Chamber of Commerce (LCC) here has expressed support for the revival of the USD2 billion oil and gas investment on Pulau Daat, off Labuan.

Its President Datuk Wong Kii Yii said this was because the mega project would definitely boost the local economy.

He hoped this time the project would materialise as Labuan had been waiting for it for four years.

“Labuan also has had no significant big projects in recent years as everything went to Sabah,” he said, Monday.

He said the proposed investment would complement Malaysia’s existing oil and gas industry in Miri, Terengganu, Bintulu and Labuan.

A substantial part of Malaysia’s vision of becoming a regional major player in oil and gas will be materialised when Johor’s Rapid and Pulau Kuraman and other proposals come on stream.

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Trevor Kletz – In Memoriam

April 30, 2014

I know that this is late, but I was prompted last week to ascertain the status of Mr Kletz. C’est la vie.

Trevor Asher Kletz, OBE, FREng, FRSC, FIChemE (1922–31 October 2013) was a prolific British author on the topic of chemical engineering safety. He is credited with introducing the concept of inherent safety, and was a major promoter of Hazop.[1]
…

Here’s an obituary from The Guardian.

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Oil and gas sector remains rising star

April 29, 2014

Dateline 2014-03-24, Malaysia Chronicle:

TWO weeks ago, Prime Minister Datuk Seri Najib Razak said the oil and gas industry is a rising star and is expected to contribute significantly to Malaysia’s economic growth this year.

This should perhaps ease earlier concerns that Malaysia will become a net importer of oil and gas by the end of this year.

Indeed, Petroliam Nasional Bhd (Petronas) has been aggressively exploring its domestic hydrocarbon acreage with the aim to increase reserves as well as production capacity. At the same time, the national oil company continues to explore opportunities abroad, having its presence in about 30 countries.

Last year’s financial results highlighted Petronas’ success in carrying out its strategy to sustain profitability and increase production.

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