Malaysia’s Ranhill Energy delays IPO after Petronas suspends affiliate’s licence

September 5, 2013

Dateline 2013-07-24, Reuters:

Malaysian oil and gas service firm Ranhill Energy will delay its planned July 31 IPO after state oil firm Petronas suspended the licence of an affiliate company earlier this month, Ranhill said on Thursday.

Ranhill Energy said in a statement Petronas scrapped a licence belonging to affiliate Perunding Ranhill Worley (PRW) from July 17 for an indefinite period. Ranhill said it is appealing the decision.

The licence enables PRW to bid for Malaysian projects awarded by Petronas, which has pledged to spend 300 billion ringgit ($94.38 billion) in capital expenditures between 2011 and 2015.

PRW usually outsources Petronas jobs to Ranhill Energy’s 51 percent owned unit, Ranhill Worley Parsons Sdn Bhd, which contributes a significant portion of its Malaysian revenues. Australia’s WorleyParsons Ltd owns 49 percent of Ranhill Worley Parsons.

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Posted by Wata

Safety Moment – Clash of Utilities

September 4, 2013

What do you think of this?

  • Good point – LRT extension
  • Bad point – LRT right of way is above a PETRONAS Gas Berhad pipeline. As far as I can tell, there have been no warnings to residents what to do if the crap hits the fan, evacuation paths, contact numbers, Twitter accounts, offshore bank accounts…

With all the piling work, earthworks and heavy machinery in the near future, can you spell ‘disaster waiting to happen’?PGB_LRT_0002 PGB_LRT_0001

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Petronas to Make FID for Second FLNG Project in 2H

September 3, 2013

Dateline 2013-07-23:

Malaysia’s national oil and gas company Petroliam Nasional Bhd (Petronas) was expected to make a final investment decision (FID) on a floating liquefied natural gas (FLNG) project for the Rotan field in Block H, offshore Sabah, in the second half of the year.

“Once sanctioned, production from this second FLNG vessel is expected to commence in 2016,” said a company spokesman as reported by Malaysia’s Business Times Tuesday. “The FID will be taken during the second half of this year,” he added.

The project, now in the front-end engineering design (FEED) stage, is for a FLNG equipped to produce 1.5 million tons of LNG per annum. Petronas awarded FEED contracts to two consortia – one comprising MODEC, Inc., IHI Corporation, TOYO Engineering Corporation and CB&I, while the other comprises JGC Corp and Samsung Heavy Industries.

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Saturday Star 2013-08-31 – Job Opportunities

September 2, 2013

Selamat Hari Merdeka!

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 process safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • PETRONAS wants to be ‘tapping human ingenuity for future growth.’ In Bintulu. Visit here.
  • JX Nippon Oil & Gas Exploration (Malaysia) Ltd is looking people. Send your cv here. Or snail mail to JX NIppon Oil & Gas Exploration (Deepwater Sabah) Limited (995348-T), Level 51, Menara 3, PETRONAS, Persiaran KLCC, Kuala Lumpur City Centre, 50088 Kuala Lumpur
  • Side note: My mechanic complains that there are not enough trained mechanics are being extruded from our schools. If you know of any idle ones, he’s looking for some. Ask them to contact Kong Ming Chai at +60122951023. On another note, has this shortfall hit the news? Can I get the contract for 1Repair?

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.

Break the Low Yat stranglehold! Support Newegg Malaysia, or check Amazon’s International Shipping. Yeah, baby!

Self Promotion this week. I have some copies of ‘the Young Turks of PETRONAS’ and ‘Tuah Jebat di PETRONAS’. The books are USD30 each, or USD55 for both. Send me payment via Paypal, with details. Get these while they are hot, It’s taken me months to find the last remaining stocks.

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.

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Posted by Wata

CEB shortlists 5 potential assets for acquisition

September 1, 2013

Dateline 2013-07-23:

Oil and gas (O&G) exploration and production (E&P) company CLIQ Energy Bhd (CEB) has shortlisted five qualifying assets out of 38 proposals for full evaluation, MD and CEO Ahmad Ziyad Elias said.

He said the shortlisted qualifying assets are from Malaysia, Indonesia and Papua New Guinea which will now move to the next stage of evaluation.

“We have already appointed consultants to evaluate the shortlisted qualifying assets, which is a mixture of pre-development assets, assets that need appraisal as well as production assets that have merger and acquisition (M&A) opportunities,” Ahmad Ziyad told reporters after the company’s first AGM in Kuala Lumpur yesterday.

CEB, a special purpose acquisition company (SPAC) which specialises in the acquisition and development of O&G assets located in Asia and Oceania, has been actively focusing on acquiring discovered small- and medium-sized O&G fields with relatively low to moderate risk.

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Higher fuel costs from 2014 for consumers?

August 31, 2013

Expect higher electrical bills, and higher profits from TNB.

Dateliine 2013-07-23:

Malaysians can expect to pay higher electricity bills from early 2014 when the government is expected to implement its Fuel Cost Pass Through (FCPT) mechanism and pass on higher fuel costs directly to consumers.

According to MyPower Corp, the agency tasked with overhauling the power sector, the nuts and bolts of the FCPT mechanism is almost completed and will be ready for implementation early next year.

MyPower CEO Abdul Razak Abdul Majid said the FCPT is an important component of the government’s incentive-based regulation for the power sector and would be implemented by Tenaga Nasional Bhd(TNB) once the national power company can integrate it into its business model.

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SapuraKencana leads M’sia-S’pore companies

August 30, 2013

Dateline 2013-07-22:

From hauling rigs to delivering toilet paper, firms from Southeast Asia are cornering lucrative niches of the oilfield services market to deliver growth that far outstrips that of much larger global peers.

SapuraKencana Petroleum and Ezion Holdings lead a group of top 20 Malaysia- and Singapore-listed companies that grew assets by 30 percent to $8.4 billion last year, according to Reuters analysis of company data.

Their expertise ranges from laying steel pipes at the bottom of the ocean and moving huge rigs from the South China Sea to the Gulf of Mexico, to delivering provisions for the rig crews.

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3 Comments | investment, Malaysia, oil and gas | Tagged: | Permalink
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Kuala Besut and oil royalty

August 29, 2013

Dateline 2013-07-22:

Political campaign is a strange subject. What seems straightforward to some can be made complicated by others. If I were a voter in Kuala Besut, my choice as to who I should vote for, is rather obvious and simple. Having said that, there must be some basis on my decision making process.

I would start by examining my own economic position, what job I am doing, how much do I earn per month and how does my income level compares to the Terengganu state average and eventually Malaysia’s national average. This is a very simple approach and does not require any deep analysis.

If I work as a fisherman and my average income is RM1000 per month that is considered good. But if Terengganu state average is RM3000 per month then what I earn is only a third of the state average. So I am considered as way below average as many fishermen in Terengganu (and Kelantan) are in the same boat.

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BEM 40th Anniversary Dinner

August 28, 2013

Aren’t you upset you missed it?

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Posted by Wata

IEM Shout Out – Technical Visit to Tenaga Kimia Sdn Bhd

August 27, 2013

This is a shout out for the IEM. My Technical Division will hosting the above visit on the 10th September, 2103.

Tenaga Kimia Sendirian Berhad (TKSB) is the leading supplier of a complete range of civil high explosive products, blasting accessories, bulk emulsion delivery and technical services in Malaysia and countries in the South East Asian region.

TKSB is one of the pioneers in the manufacturing of emulsion explosives since 1983, known then as EMULITE and now as EMULEX®. TKSB caters to all its customers’ needs by listening to them and maintains its philosophy as being the total solutions provider to its users. TKSB wish to be “Your Partner with Total Blasting Solutions”.

TKSB was established in 1976 as a joint venture company between an international explosives manufacturer and local partners which are subsidiary companies of Syarikat Malaysia Explosive and Uda Sinbor. The Company was further transformed into a manufacturer of advanced emulsion high explosives in 1981 when a new joint venture was formed with Nitro Nobel of Sweden, renowned for its explosives and blasting technology. Nitro Nobel of Sweden later became the subsidiary of Dyno Nobel ASA which is one of the biggest explosives and initiating explosive products manufacturer in the world.

You can register here. Fliers may be obtained here.

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Posted by Wata

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