March 8, 2020
Dateline 2020-01-05, The Sun:
Contract awards for the oil & gas sector are expected to recover after a decline in Q4 2019, said AmInvestment Research (AmResearch).
Malaysia’s 2019 contract awards slid 6% year-on-year (yoy) to RM11.5 billiion due to slower order flows in Q4, which fell 35% quarter-on-quarter (qoq) and halved yoy to RM2.2 billion.
This followed multiple awards to Sapura Energy, Malaysia Marine & Heavy Engineering Holdings (MMHE) securing a RM2.5 billion Kasawari central processing platform job and Bumi Armada’s 30% stake in ONGC’s KG-DWN 98/2 FPSO charter in the previous quarter.
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Posted by Wata
March 3, 2020
Dateline 2020-01-03, Business Times:
MALAYSIAN oil and gas service providers can expect contract awards to improve in the first three months of the new year, compared with the decline in 2019 – on the back of not just seasonal lumpiness in the first and fourth quarters, but also momentum from longer-term projects.
That’s according to a recent report by AmBank analyst Alex Goh, who noted that Saudi Aramco has picked Sapura Energy and Malaysia Marine & Heavy Engineering Holdings for its long-term agreement programme – opening up the field to offshore projects in Brazil, Mexico, the Middle East and West Africa that may be worth as much as US$150 billion over the next decade.
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Posted by Wata
July 20, 2019
Dateline 2019-06-21, Upstream Online:
Exploiting the estimated 3.2 trillion cubic feet of recoverable gas reserves hosted in the Kasawari sour gas field off Malaysia has been a long time coming and there are still hurdles to be overcome, writes Amanda Battersby.
Operator Petronas originally targeted a 2019 start-up date for Kasawari with peak production of 900 million cubic feet per day envisaged. However, it now seems likely that the final investment decision will not be taken until the middle of next year at the earliest.
Among the challenges, industry sources suggested Petronas could yet return to the market with another open tender process if it cannot agree an acceptable price for the large central processing platform with preferred contractor Malaysia Marine & Heavy Engineering.
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Posted by Wata
April 29, 2019
Dateline 2019-03-18, The Star:
Kebabangan Petroleum Operating Company (KPOC) has filed a RM125mil claim against Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) over a contract dispute at an oil field north of Sabah.
MMHE said on Monday its major subdiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE Sdn Bhd) had received a notice of arbitration dated March 13 from KPOC.
The first contract was for the fabrication of the topsides for the Kebabangan field, about 135km northwest of Kimanis, Sabah betweem KPOC and Sime Darby Enginering Sdn Bhd. The contract was dated Sept 20, 2011.
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Posted by Wata
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.”
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Posted by Wata
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.
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Posted by Wata
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.
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Posted by Wata
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.
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Posted by Wata
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.
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Posted by Wata
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.
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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.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Bumi Armada, ETP, Kencana, MMHE | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 