McDermott, THHE Formalize JVs to Tap Malaysia’s EPCIC Market

November 27, 2013

Dateline 2013-10-04, Rigzone:

McDermott International, Inc. (McDermott) reported Thursday that the company’s affiliates and Malaysia-based TH Heavy Engineering Berhad (THHE) have confirmed the formalization of several Joint Ventures. The joint ventures were formally approved by THHE shareholders at their annual general meeting June 3.

“This is a milestone occasion for both companies” said Scott Cummins, senior vice president and general manager, McDermott in Asia Pacific. “We have worked together on previous international bids as prime contractor and subcontractor, but with the new joint ventures we are both better able to commit and combine resources to enhance our joint Malaysian business. “

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Diving Photos – Lombok 1oo5

November 27, 2013

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

November 26, 2013

Yup, you can get jobs buy undercutting your competition, hang the quality.

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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Nga calls for Petronas to be audited by Auditor General

November 26, 2013

Yes, PETRONAS, open the kimono, or baju kurung if you want local flair. And did the Honourable MP just find the Petroleum Act? I would like to see whether PETRONAS has been missing any firearms as well, and how much did their printers cost?

Dateline 2013-10-02, The Star:

Taiping MP, Nga Kor Ming calls for Petronas to be audited by the Auditor General and eventually debated in the Dewan Rakyat.

“Petronas has been around for 38 years now, however it has not been audited even once.

“I also found that section 3 of the Petroleum Act (1974) states that it only allows the office of the Prime Minister to have access to the accounts as it is classified as private and confidential,” he said during a press conference at the parliament on Wednesday.

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Saturday Star 2013-11-23 – Job Opportunities

November 25, 2013

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. Send your cv here. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Carigali Hess is looking for a principal drilling engineer, reliability engineer, commissioning engineer, reservoir engineer, instrument engineer. Send your cv here,  with a detailed resume stating references, expected remuneration, contact telephone and email address, before 7 December, 2013.

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!

Let’s go back to basics, the quanta of it all:

  

Alice in Quantumland: An Allegory of Quantum Physics, The Wizard of Quarks: A Fantasy of Particle Physics, Scrooge’s Cryptic Carol: Visions of Energy, Time, and Quantum Nature

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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Extract from “The Will to Compete”

November 24, 2013

Describing the locally established companies:

Down the road one or two states within Malaysia incorporated their own … PETRONESA Sdn Bhd incorporated by Sarawak State Government and KELOIL Sdn Bhd incorporated by the  State Economic Development Corporation of Kelantan. …

You know you want this book, purchase it here.

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Hibiscus, Ho Hup take the LIMELIGHT

November 24, 2013

Oldie but goldie.

Dateline 2013-10-14, Malaysia Chronicle:

Hibiscus Petroleum Bhd and Ho Hup Construction Co Bhd seem to be getting more than their fair share of interest from the stock-buying public.

Hibiscus, which counts billionaires Tan Sri Quek Leng Chan and Tan Sri A.P. Arumugam as its shareholders, is seen to be slowly moving away from operating as a special purpose acquisition
company (SPAC).

Hibiscus was the country’s first SPAC to be listed on the stock exchange, but ironically some of its recent moves seem to suggest the company plans to aquire quantifiable assets to back up its resume.

This can be seen from its move to acquire Newfield Exploration Co’s oil and gas assets in Malaysia and China.

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Oil firm with Gaddafi ties helped construction giant win contracts overseas

November 24, 2013

Not wholly a Malaysian topic, but 1) I need link bait, 2) Leighton does have a local presence. Dateline 2013-10-02:

Leighton Holdings‘ offshore arms enlisted a network of middlemen with links to influential officials in corruption-prone countries to help it win huge contracts.

Those middlemen included a Monaco firm with ties to former Libyan dictator Muammar Gaddafi and senior Iraqi politicians.

Company files indicate the Australian construction giant paid Monaco’s Unaoil $40 million at the direction of the Iraqi Oil Ministry as part of a 2010 contract suspected of being corrupt.

The ministry had nominated Unaoil as the subcontractor that would provide domestic support to Leighton Offshore on a $750 million oil pipeline project.

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The files suggest Unaoil, which has employed former top Iraqi oil officials, received its money after the Australian company allegedly artificially inflated the value of an onshore support services contract by $40 million.

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Tapis EOR project will start production in 2014

November 23, 2013

From The Malaysian Reserve, dateline 2013-10-03:

The Tapis Enhanced Oil Recovery (EOR) project is moving a step closer to production with the significant completion of the main central processing facility called Tapis-R topsides.

The project will see the oil production from the ageing Tapis field increase from the current estimated 5,000 barrels per day to a maximum output of 25,000-35,000 barrels per day (bpd) by 2017.

The EOR is a 50:50 participation between ExxonMobil Exploration & Production Malaysia Inc (EMEPMI) and Petronas Carigali Sdn Bhd (PCSB).

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Legal and moral duty of Sabah MPs to act: Jeffrey

November 23, 2013

Dateline 2013-10-13,Daily Express:

It is the legal duty and moral obligation of the Sabah Government and every Sabah MP to take immediate steps and by all available means to regain Sabah’s oil ownership, said Sabah Star Chief Datuk Dr Jeffrey Kitingan.

Commenting on the public debate between Tan Sri Harris Salleh and Datuk Yong Teck Lee at the Sabah Golf and Country Club on Friday night, he said the “explanation” of Harris was that he had no choice but to sign the 1976 Oil Agreement with Petronas and receive five per cent cash payment for Sabah’s oil as the Federal Government had stated that Sabah’s oil found offshore belonged to the Federal Government and signing and getting five per cent was better than getting nothing at all.

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