Petronas’ oil rig-making unit stays in the red for fourth straight quarter

December 4, 2016

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the company said. Quarterly revenue fell nearly 24% year-on-year to 333.5 million ringgit from 436.3 million ringgit.

“The continued downturn of the oil and gas industry is expected to impact the group’s business with significant offshore project cancellations and deferments,” the company said. “This is expected to result in further decline in asset utilization, currently being assessed for impairment which will significantly affect the current year financial result.”

Petronas’ oil rig-making unit stays in the red for fourth straight quarter

November 4, 2016

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the company said. Quarterly revenue fell nearly 24% year-on-year to 333.5 million ringgit from 436.3 million ringgit.


Malaysian oil and gas hub materializes as Malikai nears production

October 23, 2016

Dateline 2016-09-12, Offshore:

Shell recently celebrated several major milestones for Malikai as it moves closer to entering production, when it will become the company’s second operated deepwater project in Malaysia after Gumusut-Kakap.

In June, the Technip-Malaysia Marine and Heavy Engineering (MMHE) joint venture (TMJV), contracted by Shell in February 2013, concluded onshore fabrication and commissioning operations. The 27,500-metric ton TLP then began its 1,400-km (870-mi) excursion from the MMHE West fabrication yard at Pasir Gudang in Peninsular Malaysia to the Malikai field, which lies in the South China Sea some 100 km (62 mi) off Sabah.

The TLP was transported by the Dockwise heavy-lift vessel White Marlin, according to fellow contractor InterMoor, which was responsible for the marine aspects of its float-off and tow.

These milestones behind it, a spokesperson for Shell based in Kuala Lumpur recently told Offshorethat it anticipates first oil in 2017.


Three parties prequalified for Kasawari CPP contract

March 20, 2015

Dateline 2015-01-13, Borneo Post:

Three parties have likely been pre-qualified by Petronas for the US$1.5 billion Kasawari central processing platform (CPP) contract.

AmResearch Sdn Bhd (AmResearch) noted that the three parties are South Korea’s Hyundai Heavy Industries Co Ltd, a joint venture between Italy’s Saipem SpA and SapuraKencana Petroleum Bhd, and a partnership between France’s Technip SA and Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE).

“We understand the bidding is in progress and is currently being evaluated.

“The contract could be awarded sometime in April. Berlian McDermott, a joint venture between TH Heavy Engineering Bhd and Houston-based McDermott International Inc, did not progress beyond the prequalifying stage of this contest,” said AmResearch.


Maximising oil recovery from maturing oil fields

August 3, 2013

Dateline 2013-07-05, Sin Chew:

Malaysia is set to enhance its crude oil recovery from its maturing oil fields through the Enhanced Oil Recovery (EOR) technology using its own expertise in petroleum engineering.

Works are already underway to implement EOR at the Tapis oil field located about 200 kilometres off Terengganu that produces extra-light and low-sulphur crude oil.

Tapis is one of seven mature offshore fields that ExxonMobil Exploration and Production Malaysia Inc. (EMEPMI) and PETRONAS Carigali Sdn Bhd (PCSB) have agreed to develop as part of a 25-year production-sharing contract that was finalized in 2009.

The EOR is a major engineering milestone for the country as local companies like SapuraKencana Petroleum Bhd and Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) are involved in fabricating the jacket and deck respectively.


Malaysia’s ambitious plan to transform its economy

May 1, 2012

Dateline 2012-04-28, and I’m being paid too low…

The government of Malaysian Prime Minister Najib Razak launched the Economic Transformation Programme (ETP) in September 2010 with the ambitious goal of doubling income per person to $15,000 to reach developed-nation status by 2020.

The ETP aims to consolidate Malaysia’s oil and gas (O&G) offshore fabricators to become more competitive regionally. OSK said this could benefit Kencana Petroleum Bhd (>> Kencana Petroleum Berhad) and Malaysia Marine of Heavy Engineering Bhd (>> Malaysia Marine & Heavy Engnrg Sdn Bhd), the remaining two listed larger fabricators. Offshore services firms such as Bumi Armada (>> Bumi Armada Bhd) are seen gaining from investments in the energy sector.


From Bernama – MMHE Secures RM1.4 Billion Contract From EMEPMI

November 16, 2011

Dateline 2011-11-03:

Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) has secured the RM1.4 billion Tapis Enhanced Oil Recovery (EOR) project from ExxonMobil Exploration and Production Malaysia Inc (EMEPMI).

The contract from the subsidiary of Exxon Mobil Corporation is for the construction and installation of the main structure for the Tapis R topside, which is the main structure of the Tapis EOR project.

EMEPMI chairman and president, Hugh W Thompson said the contract was part of the company’s long-term commitment to work closely with PETRONAS and their co-venture partner PETRONAS Carigali to develop Malaysia’s full energy potential.”