Oil & gas Sector to see Much Action

August 5, 2012

Dateline 2012-07-18:

The Malaysian oil & gas (O&G) industry will see an action-packed 18 months ahead, with its service providers set to continue enjoying sustained growth, says Maybank Investment Bank (IB) Research.

Its growth will be sustained with demand for equipment and services increases in light of the rising activities in the sector, it said.

“Offshore fabrication works will dominate the headlines as we estimate contracts for offshore fabrication structures worth up to RM7 billion will be announced over the next 18 months.

From Bernama – Success Runs Deep In Malaysia’s Oil & Gas Sector

March 12, 2011

If success runs deep, use some of that money to allow our universities to instill a sense of appreciation of engineering in their students, as opposed to creating automatons that give blank (or panicked) looks when asked a tech question.

Dateline 2011-02-24:

As Malaysia enters a new phase in its oil and gas industry, the country received heartening news in mid-February with a large discovery off the shores of eastern Sarawak.

“This is very good news for a sector that is facing declining annual production and the prospect of running out of hydrocarbons that fuel its economy in a space of 15 years and its Economic Transformation Programme (ETP),” said the Oxford Business Group (OBG), a business intelligence consulting group.

It said the discovery should help to temporarily halt Malaysia’s slow declining oil and gas output, dovetailing nicely with moves to boost exploration and production from marginal and deep-water prospects.

From Bernama – Oil And Gas Stocks Should See Upward Trend

July 24, 2010

Yeah, where is this upward trend? My profit margin has only increased by 1000+% year on year, below the industry standard. I would expect people to be throwing money at us, as if they were venture capitalists, and we have the next Facebook in the works.

BTW, doesn’t ECM Libra have a vested political interest to make things appear rosy?

From Bernama, dateline 2010-07-14:

Oil and gas stocks should see an upward trend going forward with more jobs expected for oil and gas providers, according to ECM Libra Investment Research.

“The sector is not without its shortcomings but on the flipside, valuations continue to be reasonable and we believe the key driver will be the impending news flow,” it said.

“One would have thought that crude oil prices have been above the US$70 level for long enough to ignite a multitude of projects the world over but the recovery in capital expenditure spend hence job flow have been slow coming,” ECM Libra said.

“Nevertheless, we believe that upstream spending will be back in tow, latest 2011, and continue to trickle in for the rest of this year,” it said in a research note Wednesday.

From Bernama – Oil And Gas Industry Needs Skilled Manpower And Innovation To New Technology

March 31, 2010

Is the public expecting that an upgrade in the productivity of the average oil and gas worker to come at no cost or pay increment, similar to what they expect of other labour forces, say the police? Also, would big PSCs (yes, I’m talking about you, PETRONAS) stop asking for ’38 years experience in providing the proposed technology’ and help the little guy by taking some risk and being a mentor and test bed to the smaller suppliers and providers? Windows XP is only 9 years old, stop asking for Windows 98!

Taken from Bernama, dateline 2010-03-23:

Skilled manpower and an innovation to new technology, are the biggest challenges faced by the oil and gas industry, says Sarawak’s Assistant Minister of Infrastructure Development and Communication, Datuk Lee Kim Shin.

Lee said the process of providing education and training for the younger generation to meet the industry demand, is a big challenge, as the process takes time.

“The industry is going to get more sophisticated.So,will the challenges. We need therefore to come out with more innovative and new technology to overcome the challenges,” he said, while officiating the launch of the Sixth Getenergy Exploration and Production 2010 here today.

The two-day conference is being held at Universiti Teknologi Malaysia (UTM) International Campus, from March 23-24.