December 12, 2020
Can I join in, for old time’s sake? Us ex-Esso folks have some payback comin’.
Dateline 2020-11-17, The Edge:
SEVERAL local oil and gas (O&G) companies are understood to be interested in acquiring Exxon Mobil Corp’s assets in Malaysia, which are up for sale, but are said to be more comfortable forming consortiums to bid for these assets because of the hefty price tag of US$2 billion to US$3 billion (RM8.26 billion to RM12.39 billion).
A controlling shareholder of one of the larger companies says, “We are always on the lookout for assets, [but] no one company can go it alone [acquisition of Exxon Mobil’s assets], and no sensible management will make such a [risky] decision.”
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.
October 26, 2020
Dateline 2020-09-22, Energy Voice:
After reporting a $5 billion loss, Malaysian national oil company (NOC) Petronas is eager to see new money flow into its domestic upstream sector, especially as the majors, such as ExxonMobil, seek to exit the Southeast Asian nation.
Industry sources told Energy Voice that Petronas – the sole manager of Malaysia’s oil and gas reserves – is exploring ways to open up its upstream sector to mid and late-life operators. Traditionally, the NOC, has been very particular about who can operate the country’s upstream assets, preferring giant players, such as Shell, ExxonMobil and ConocoPhillips.
But this mindset is changing as most of the major foreign companies have put their Malaysian assets up for sale. Petronas now needs to find new investors, especially companies with experience squeezing more oil and gas from ageing and marginal fields.
January 4, 2020
Dateline 2019-10-22, The Edge:
EXXONMOBIL Corp has confirmed that it is testing market interest in its upstream offshore assets in Malaysia as part of an ongoing evaluation and its plan to divest US$15 billion of its non-strategic properties by 2021.
However, Sukiman Mohamed, spokesperson for its Malaysian subsidiary, says no agreements have been reached and no buyer has been identified so far for the assets.
September 24, 2018
Dateline 2018-07-09, The Malaysian Reserve:
For over a decade from the early 1990s, Petroliam Nasional Bhd (Petronas) was the champion of national oil companies (NOCs) challenging the established order in the global petroleum industry.
Then, it was relatively unheard of for state oil firms to venture outside their national borders to prospect for oil and gas (O&G), strictly the domain of international oil companies (IOCs).
Established players like Exxon Mobil Corp, Royal Dutch Shell plc and BP plc became the giants that they are today by making the highly risky business of finding and extracting O&G resources from the ground their specialty.
March 30, 2018
Dateline 2018-02-20, The Edge:
Over the years, ExxonMobil Inc has scaled down its operations here, being absent in the refinery and retail businesses. But there’s more to Malaysia for the oil major, said ExxonMobil Exploration and Production Malaysia Inc president and chairman Edward E Graham.
“We are still very active,” said Graham in an interview with The Edge Financial Daily. “Exploration still is [commercially viable]. There are areas that have yet to be explored in Malaysia, so that has some potential.”
March 13, 2017
Happy Wata IEM VP and Council Candidacy. Vote for me, and spread the word, wilya? IGL has pivoted into training, so book your seats now.
We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?
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.
- I have a feeling that The Star isn’t the preferred O&G job recruitment portal now. I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
- ExxonMobil Engineering Global Support is looking for Advanced Control Engineer, Chemical Engineer, Chemical Engineer (Butyl), Control Systems Engineer, Heat Transfer Engineer, Instrumentation Engineer, Licensing Technical Support Engineer, Machinery Engineer, and many others. Looks like downstream is the place to be. Register at http://www.exxonmobil.com/careers/my and visit the career fair at Grange St. Paul’s Hotel, London. Though if you can afford that, why you applying?
- I’m looking for jobs for 2Q2017. Send me your POs.
Food choice of the week? I would suggest visiting Cicerello’s, Freemantle. Sponsor my flight and accomodation, so I can go there as well.
Seeing that Joe Dever has passed away, you may want to revisit his books:
Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)
January 29, 2016
Hey, I was part of the expat (pick your country) nightshift that helped move people into the building.
Dateline 2015-12-29, The Star:
The bleak long-term outlook of oil prices has gotten companies with operations in the Kuala Lumpur city centre readjusting their priorities in line with the situation.
ExxonMobil Exploration and Production Malaysia Inc is likely to join the list of companies that have embarked on cost cutting measures particularly in terms of office space.
Sources said the company may return several floors of a building it currently occupied in the city centre to KLCC Property Holdings Bhd (KLCCP) once its tenancy agreement expires in January 2017.
The 29-storey Menara ExxonMobil, which is next to the Petronas Twin Tower, has been leased to the company since 1997 and the oil and gas (O&G) giant is looking at occupying up to only half of the building.
November 23, 2015
Happy Rain Week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). 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.
- ExxonMobil Research and Engineering (EMRE) is looking for people. Visit the website.
- I’m looking for jobs for 1Q2016. Send me your POs.
- An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
- Nothing much in the news. Were you expecting jobs galore? Has The Star dropped out of favour? I see more job adverts on the facebook private groups.
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? Hmm.
Seen the Episode VII trailer? Booked the theater? If you say “What is episode Vii?”, I disown you.
During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.
The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students
June 11, 2015
Dateline 2015-05-12, Rigzone:
ExxonMobil Exploration and Production Malaysia Inc., a subsidiary of Exxon Mobil Corporation, announced recently the startup of natural gas production from the second phase of the Telok gas development project, the Telok B platform located off the east coast of Peninsular Malaysia.
The Telok development consists of two satellite platforms – Telok A, which started up in 2013, and Telok B. Both platforms combined are capable of producing more than 450 million cubic feet per day (MMcf/d) of natural gas.
The Telok field was developed under a gas production sharing contract between ExxonMobil, as the operator, PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), and PETRONAS to help meet demand for natural gas in Peninsular Malaysia. ExxonMobil and PETRONAS Carigali each hold a 50 percent interest in this project. Telok is one of several upstream investments announced under Malaysia’s Economic Transformation Programme in 2011, which saw ExxonMobil and PETRONAS Carigali invest more than $2.76 billion (MYR 10 billion) in new oil and gas assets to help ensure reliable and sustainable energy supplies for Malaysia.