Windows XP to Become a Hacker’s Dream in 2014, Experts Warn
December 28, 2013
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Interview: SapuraKencana to pare debts in three years
December 28, 2013Dateline 2013-11-01, The Edge:
JUST six months after completing the acquisition of Seadrill Ltd’s Asian rig business for RM8.63 billion, SapuraKencana Petroleum Bhd (SKPB) is now forking out another RM2.85 billion to acquire Newfield Exploration Co’s equity interest in Malaysia.
The latest deal could add to SKPB’s current debt of RM11.4 billion as at July 31, something that has not gone down well with the market.
However, SKPB group president and CEO Tan Sri Shahril Shamsuddin reasons that the debt will begin to pare down substantially by next year.
“We expect our debt to go down to below RM10 billion over three years. Furthermore, the equity would have grown as profitability will increase the equity portion to reduce the debt-to-equity ratio to about 0.8,” says Shahril.
“In the next two years, while our debt level goes down, the focus for SKPB will be to develop the fields in Newfield,” he says, adding that the Newfield assets are cash-generating.
On top of this, SKPB’s other businesses are said to contribute about US$1 billion in earnings to the group while it looks to bid for more acreage and proven reserves for future developments.
Analysts believe the Newfield Malaysia acquisition will increase SKPB’s revenue by US$403.3 million in 2013, with contribution expected to grow by US$600.4 million in 2018.
It will also see SKPB’s earnings before interest, taxes, depreciation and amortisation (Ebitda) growing by US$209.2 million in 2013 and US$396.6 million in 2018 while the incremental increase in net profit would be US$155.8 million and US$289 million respectively.
Analysts expect SKPB’s net gearing to decrease to 1% in 2016 from 1.1% in 2013 and its net debt to Ebitda to decrease to 3.5% from 5.6%.
SKPB was formed after the merger of Kencana Petroleum Bhd and SapuraCrest Petroleum Bhd. Shahril notes that while both companies were growing independently, their debt profile saw a mismatch where long-term investments were funded by short-term debts.
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Petronas finds new gas deposits in S’wak, Sumatra, Australia
December 27, 2013Dateline 2013-10-31, The Star:
Petronas today announced new gas discoveries in three of its upstream ventures in Malaysia, Indonesia and Australia.
In a statement today, it said the first discovery was via the Pegaga-1 well in Block SK320, offshore Sarawak, which is operated by Mubadala Petroleum through a Malaysian affiliate.
The Pegaga-1 well is located about 250 km northwest of Bintulu, in a water depth of 108 metres.
“The operator plans to conduct further drilling to determine the volume of the discovery and the gas quality,” the company said.
Its unit, Petronas Carigali Sdn Bhd has a 25% interest in the block.
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Firm debut for UMW Oil & Gas amid cautious market
December 26, 2013Yes, ancient history.
Dateline 2013-11-01, The Star:
UMW Oil & Gas Corp Bhd (UMW O&G) made a firm debut on theMain Board of Bursa Malaysia on Friday, rising to a high of RM3.05, which is 25 sen above its final retail price of RM2.80.
It opened at RM3. At 9.01am, it was trading at RM3.03, up 23 sen. There were 27.47 million shares done.
The FBM KLCI fell 4.04 points to 1,802.81. Turnover was 52.18 million shares valued at RM95.05mil. There were 71 gainers, 64 losers and 107 counters unchanged.
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Diving Photos – Lombok 2013-11 Photosynth
December 25, 2013Some attempts at underwater photosynthing:
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The price of energy
December 24, 2013Dateline 2013-10-30, The Star:
DURING the British Prime Minister’s question time in the British House of Commons last Wednesday, the British Prime Minister David Cameron and the Opposition Leader Ed Miliband had a heated debate over energy prices in Britain. This debate is not something new in Britain as for the past few months, British political parties have been coming up with ideas to try to bring down energy prices. In fact, rising energy prices is a global
phenomenon due to the soaring global fuel prices and the same is true for us here in Malaysia.But why do the global fuel prices affect our electricity bills? This a valid thought, but it might be worthwhile reflecting deeper on how this connection works. It all comes down to how electricity is produced.
In Malaysia electricity is produced through four main sources – liquified natural gas (LNG), coal, petroleum, and hydro power. The most recent estimates put LNG at around 46 percent of the generation mix while coal and oil make up 52 percent, and the remainder being hydro. This means that almost all the power produced in the country is subject to the prices of LNG, oil or coal, since these are the primary energy sources.
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Petronas’ new Malaysian crude oil official selling price
December 22, 2013Dateline 2013-10-23, The Star:
Petroliam Nasional Bhd will implement a new Malaysian Crude Oil Official Selling Price with effect from Jan 1, 2014.
It said on Wednesday the new price will be based on a basket of Malaysian crude oil, namely Labuan, Miri Light and Kikeh.
“It is also envisaged that this crude basket shall include Kimanis crude oil in the future,” it said.
Petronas added that the Tapis Blend, Bintulu and Dulang crude oil will continue to have their own OSP, which would continue to be reported on a monthly basis.
It also said it would continue to price all its Malaysian crude oil against Dated Brent.
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Newfield Sells Malaysian Offshore Busines
December 21, 2013Old news, yes.
Dateline 2013-10-22, Rigzone:
Newfield Exploration Company plans to sell its equity interests in Newfield Malaysia Holdings to SapuraKencana Petroleum Berhad for $898 million. The deal is expected to close early next year.
“We have enjoyed significant success in Malaysia and had a great business partnership with Petronas in the region,” commented Lee K. Boothby, Newfield Chairman, President and CEO, in a press release. “In early 2013, however, we announced our intent to exit our international businesses and focus our investments on domestic resource plays.”
In April 2013, Newfield made a large natural gas discovery off the coast of Malaysia in its B-14 well, which encountered 1,585 feet of net natural gas in about 250 feet of water 50 miles offshore. The company estimated there are 1.5- to 3 trillion cubic feet of gas initially-in-place after its discovery.
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2014 an exciting year for O&G players
December 20, 2013Dateline 2013-10-21, Borneo Post Online:
Following the discoveries of new oil and gas (O&G) reserves, 2013 has been a year packed with contracts driven nation-wide projects which led to a string of contracts awarded to various O&G players.
Encouraging performances in the O&G sector in 2013 has signals that 2014 is going to be another robust year with more contracts that focuses on engineering, procurement, construction and commissioning (EPCC) and engineering, procurement, construction and commissioning (EPCIC) activities expected to be awarded to local and regional O&G players.
Analyst Aaron Tan from the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) highlighted that so far 2013 has been a year packed with awards of contracts, new oil and gas discoveries, and possibly more mergers and acquisitions to expand and strengthen income streams.
“We can expect a good mix of local, regional and international jobs to be awarded to Malaysian O&G players and we can expect Petroliam Nasional Bhd (Petronas) to keep the momentum going as it pushes for more deepwater, high pressure, high temperature, and high carbon dioxide oil fields,” he said in the research firm’s monthly review and outlook of the O&G industry report.
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Diving Photos – Lombok 5oo5
December 19, 2013
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Wata - Malaysian Oil and Gas Engineer 