Petronas’ new Malaysian crude oil official selling price

December 22, 2013

Dateline 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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Posted by Wata

Newfield Sells Malaysian Offshore Busines

December 21, 2013

Old 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, 2013

Dateline 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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Diving Photos – Lombok 4oo5

December 18, 2013

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Gas: Fueling the future of energy

December 17, 2013

Have a look at the original article, there’s a neat diagram of how gas is prepped for end users.

Dateline 2013-10-20, Borneo Post online:

As global demand for energy grows in tandem with the rapid growth of population particularly in urban areas, energy players such as the oil and gas (O&G) industry are constantly looking for ways to meet this demand by expanding its portfolio to mitigate the dependability on declining natural resources.

“For Malaysia, the foremost energy challenge lies in meeting rising demand, whilst at the same time domestic production continues to experience natural decline,” Petroliam Nasional Bhd (Petronas) chief executive officer Tan Sri Shamsul Azhar Abbas said in Petronas ‘Our Energy Future’ report.

While oil continues to be a key energy resource in Malaysia, its dwindling global supply and volatile global prices have led to the gradual focus on the rich gas resources in the nation.

Gas, according to Petronas, has the potential to be a game-changer for the energy-hungry economies of the Asia-Pacific region as the resource is geographically diffused and environmentally beneficial compared with fossil fuels.

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Saturday Star 2013-12-14 – Job Opportunities

December 16, 2013

Happy ‘renew your BEM and IEM registration’ week (don’t forget that offshore bank account).

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 see Petrofac is looking for a development manager, engineering manager, tech assistant, operation support engineer, senior maintenance engineer, company site representative (CSR). Send your CVto petrofac.com → Career → Job Search → Location → Malaysia.
  • Not an engineering job, but I see ConocoPhillips has an opening for an office administrator. I guess they are going to open an office in KL?
  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Nothing of interest this week.

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

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!

This week, my theme is, you need to be a better all round engineer. Hence, some selections for the process engineer:

A Simple Guide To Understanding Jet Engines, Process Plant Instrumentation: Design and Upgrade, Mechanical Design of Process Systems: Piping and Pressure Vessels

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

Food?I had lunch at Chakri Palace, KLCC. Blooming expensive. Anyone want to treat me to dinner there?

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PETRONAS RM1.1 BILLION SHOCKER! ‘World’s best hospital’ loss-making for past 10 yrs

December 15, 2013

I don’t feel as if health care is subsided there, what about you?

Dateline 2013-10-18, Malaysia Chronicle:

…

Besides oil and gas, Petronas has in recent times ventured out of its core business in an attempt to diversify its portfolio. As a result, Petronas is now heavily invested into properties as well as the healthcare sector through Prince Court Medical Centre, a luxury private hospital situated in the heart of KL city.

However, at a cost of RM544 million to build, the investment in Prince Court Medical Centre has not been able to reap any profit. In fact, according to its annual report, the private hospital has been suffering huge losses every year for 10 years in a row, particularly in the last five years since its operations started.

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Alliance Research: Another robust year ahead for O&G

December 14, 2013

Dateline 2013-10-17, The Sun:

Malaysia’s oil and gas (O&G) sector is expected to see another robust year in 2014, with a flush of news flow and new tenders coming in not only from the country but also in the region, said Alliance Research.

It continues to hold an “overweight” call on the sector as robust contract flow is slated to continue with new developments like marginal fields, enhanced oil recovery projects and new gas developments.

Alliance Research pointed out that Petroliam Nasional Bhd’s (Petronas) continued commitment to spend RM60 billion over the next five years as well more “good news” may emerge later this year or 2014 when new fabrication jobs come on-stream that will augur well for the sector.

“We expect more positive news flow ahead, especially in Malaysia, and this indicates that 2014 will be another robust year for the sector, especially in the engineering, procurement, construction and commissioning (EPCC) and engineering, procurement, construction, installation and commissioning (EPCIC) segments,” the research firm said in a report yesterday.

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Plenty of jobs in O&M phase for BUMI oil & gas firms – Petronas COO

December 13, 2013

Dateline 2013-10-16, Malaysia Chronicle:

Bumiputra oil and gas companies should tap opportunities present at the operation and maintenance (0&M) phase of any Petroliam Nasional Bhd (Petronas) projects, said its chief operating officer Datuk Wan Zulkiflee Wan Ariffin.

Analysts estimate that Petronas allocates between 10 and 20 per cent of its capital expenditure (capex) on the 0&M of its assets.

The national oil and gas company has set aside RM300 billion for capex over a five-year period, starting from 2011.

O&M-related works, which come into play at the post-commissioning stage, are more longterm in nature. Hence, O&M jobs are normally seen as recurring income-based contracts.

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