EnQuest Sends Arbitration Notice to Barakah Offshore

March 28, 2022

Dateline 2022-02-08, Offshore Engineer:

Oil company EnQuest has sent a notice of arbitration to the Malaysian offshore oilfields services firm Barakah Offshore Petroleum regarding a dispute in which an adjudication decision was made in January ordering EnQuest to pay around $17,1 million, plus interest to Barakah’s subsidiary PBJV.

Barakah Offshore’s subsidiary PBJV had in September 2021 filed an adjudication claim against EnQuest in Malaysia seeking around RM73,5 million plus interest for works done and/or services rendered for the Outstanding Sum up until the year 2020 under a letter of the award signed in July 2018, were PBJV was engaged by EnQuest as the contractor for the execution of the “Provision of Pan Malaysia Maintenance, Construction and Modification (“PM-MCM”) Contract.”

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EnQuest ordered to pay Malaysian contractor $17.1 million

March 6, 2022

Dateline 2022-01-04, Upstream:

UK company EnQuest has been ordered to pay Malaysian contractor Barakah Offshore Petroleum nearly 71.6 million ringgit ($17.1 million) following an adjudication claim over offshore works.

Barakah launched legal action against EnQuest’s Malaysian subsidiary last year in relation to work carried out by Barakah under a 2018 letter of award for the provision of the Pan Malaysia Maintenance, Construction & Modification (PM-MCM) contract EN17051.

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Malaysian contractor takes action against operator

October 1, 2021

I see I know the poster boy in the article.

Dateline 2021-09-13, Upstream:

Malaysia’s Barakah Offshore Petroleum said it has lodged an adjudication claim against UK-based operator EnQuest Petroleum’s Malaysian subsidiary relating to offshore works.

Barakah said the claim by its wholly-owned subsidiary PBJV Group amounts to 73.6 million ringgit (US$17.7 million).

It relates to work done by PBJV pursuant to a letter of award dated 13 July 2018 and signed on 16 July 2018 whereby PBJV was engaged by EnQuest for the provision of the Pan Malaysia Maintenance, Construction and Modification (PM-MCM) contract bearing contract no: EN17051.

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Exxon eyes shortlist for Malaysian oil and gas assets

October 30, 2020

Dateline 2020-09-25, Oil & Gas 360:

Exxon Mobil has narrowed the list of bidders for its oil-producing offshore assets in Malaysia that could potentially raise $2 billion to $3 billion in a sale, according to people with knowledge of the matter.

U.K.-listed EnQuest Plc and Kuala Lumpur-traded Hibiscus Petroleum Bhd. are among those that have been chosen to submit binding bids for the assets, the people said. Other companies have also expressed interest, said the people, who asked not to be identified as the discussions are private.

Exxon Mobil started the process to sell its Malaysian assets last year as part of its global divestiture program, Bloomberg News has reported. It produces oil and gas in the Southeast Asian nation under four production sharing contracts with the state-owned Petroliam Nasional Bhd., according to its website.

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Petronas awards offshore block to EnQuest, Petronas Carigali

January 30, 2020

Dateline 2019-12-04, The Edge Markets:

Petroliam Nasional Bhd (Petronas) has awarded the production sharing contract (PSC) for Block PM409 offshore Peninsular Malaysia to EnQuest PLC’s wholly-owned subsidiary EnQuest Petroleum Production Malaysia Ltd and Petronas Carigali Sdn Bhd (PCSB) as part of the 2019 Malaysia Bidding Round, according to separate statements from EnQuest and Petronas.

EnQuest said today in a statement on its website that under the terms of the PSC, EnQuest will operate the block with a participating interest of 85%, with PCSB owning the remaining 15%.

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Saturday Star 2016-05-28– Job Opportunities

May 31, 2016

Sorry I’m late, been offshore, lousy internet, but hey, better than no internet

Happy Visit Surabaya week. Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • I’m looking for fresh meat-ish, to help with a peak work period.
  • I’m looking for jobs for 3Q2016. Send me your POs.

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!

Food choice of the week? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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Saturday Star 2016-05-21– Job Opportunities

May 23, 2016

Happy Visit Banjarmasin week. Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • Enquest is looking for a senior production engineer, Maximo support engineer,  instrument engineer, rotating equipment engineer. Send an email here.
  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • I’m looking for fresh meat-ish, to help with a peak word period.
  • I’m looking for jobs for 3Q2016. Send me your POs.

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!

Food choice of the week? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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Malaysian oil well plugged, Enquest falls to record low

January 30, 2015

Something’s wrong with this title. Enquest has started drilling in Malaysia?

Dateline 2014-11-19, NST:

Enquest Plc fell to a record low after Barclays Plc said it and two other UK explorers were more exposed to an oil drop and after a well in Malaysia was plugged and abandoned.

The shares fell 2.7 per cent to 64.15 pence (RM3.36) at the close in London trading, the lowest close since April 7, 2010.

Enquest, Afren Plc and Ophir Energy Plc are the most exposed if the oil outlook moves toward US$70 (RM235) a barrel, Barclays’s investment-banking unit said in the note today. Brent, used to price more than half the world’s crude, has plunged 30 per cent since June and is trading below US$80 a barrel.

“Debt leverage combined with a limited tax cushion increase the impact of lower oil prices relative to other producer/developers,” Barclays said of Enquest and Afren.

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Who is Nio Petroleum?

September 3, 2014

Hmm,  a series of press releases related to the above. And I really want to follow in their footsteps:

Finance Asia:

 Barclays natural resource investments (BNRI), a division of Barclays Capital, has invested in a Southeast Asia-focused oil and gas development company Nio Petroleum.

Nio Petroleum is an oil and gas development and production company established in 2009, with a primary focus on offshore assets in the Asia-Pacific region, particularly Malaysia, Thailand, Vietnam, Indonesia and Australia. It seeks out undeveloped discoveries, marginal fields and late-life assets in Southeast Asia, which it will add value to through the innovative use of existing and new technologies and commercial know-how, Barclays Capital and Nio Petroleum said in a joint press release yesterday.

Nio Petroleum is founded and managed by Richard Hall and Rory Edwards, a duo with a track record in oil and gas development, derived from working with national and independent oil and service companies over the past 25 years. Their experience includes schemes in the North Sea and offshore Southeast Asia, which have enabled the monetisation of small fields or extended the life of mature fields.

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Oilvoice.com:

…Nio Petroleum Limited (Nio) is working in the Asia Pacific region.

Nio’s primary focus is offshore assets in the Asia Pacific region, particularly Malaysia, Thailand, Vietnam, Indonesia and Australia. In May 2010, Nio acquired Blocks SB307 and SB308 offshore Sabah in Malaysia in conjunction with Lundin Petroleum and PETRONAS Carigali.

PETRONAS, 2010-05-19:

PETRONAS AWARDS TWO EXPLORATION BLOCKS TO LUNDIN PETROLEUM, NIO PETROLEUM AND PETRONAS CARIGALI

 PETRONAS today awarded Blocks SB307 and SB308 offshore Sabah under a single Production Sharing Contract (PSC) to a partnership comprising Lundin Malaysia B.V., Nio Petroleum Ltd., and PETRONAS Carigali Sdn Bhd.

Blocks SB307 and SB308 measure approximately 6,230 sq km and is located in water depths of up to 70 metres. Both blocks have been explored since 1965 and have led to the discovery of the producing Barton, South Furious and St. Joseph fields, currently operated by Sabah Shell Petroleum Company Ltd under a different PSC.

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Bloomberg Businessweek:

Nio Petroleum Limited offers oil and gas development and production services in Malaysia, Thailand, Vietnam, Indonesia, and Australia. Nio Petroleum Limited was incorporated in 2009 and is based in London, United Kingdom.

 EDP 24:

Nio Petroleum (Sabah), set up by two former managers at oil services and production firm Petrofac, is being bought by EnQuest, based in Aberdeen.

The firm was set up in 2010 by Richard Hall, who previously worked with Norwich-based Acteon before moving to Petrofac, and Rory Edwards, also previously at Petrofac.

It said its niche was opening up dormant discoveries and redeveloping mature, previously developed fields and was working in partnership with Malaysian state firm Petronas and Sweden’s Lundin on two blocks of the coast of Sabah, Borneo.

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Bloomberg Businessweek:

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As of November 9, 2012, Nio Petroleum (Sabah) Limited operates as a subsidiary of EnQuest PLC.

 

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INTERIM MANAGEMENT STATEMENT – EnQuest

July 12, 2014

I thought this was a JV with Uzma?

Dateline 2014-05-16, TWST:

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Malaysia.  EnQuest has secured a small field development with Petroliam Nasional Berhad (“PETRONAS”), the national oil company for Malaysia, for the development and production of petroleum from the Tanjong Baram field (“Tanjong Baram”) offshore Sarawak, Malaysia.  Net 2P reserves are c.3.5 MMboe, start-up is expected in late 2015 / early 2016.

Amjad Bseisu, Chief Executive, said

“Production of 25,597 Boepd to the end of April marks a good start to the year, reflecting strong reservoir and production efficiency performances from all of EnQuest’s hubs, and from Thistle in particular.

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