Agenda PETRONAS Contractors Forum 2009
I attended this session yesterday. Though it was a whole day session, ample time was provided to do networking, fishing, eating, spirited questioning (sorry for the blood on the wall), eating, photographs… did I mention eating?
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Posted by Wata
Petroliam National Bhd (PETRONAS) raised a price-adjustment factor in it Tapis crude oil to 60 cents a barrel in June … last month, the price component was 40 cents a barrel.
PETRONAS Tapis Price
Interesting to note that peninsular malaysia crude is stil called Tapis crude, though Tapis is no longer a major contributor to crude output. Maybe we should call it rojak crude.
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Posted by Wata
Dateline 2009-06-26:
Petroliam Nasional Bhd (PETRONAS) is seeking to slash its expenditure by 30% from the amount it spent in its 2006 fiscal year.
“There must be shared misery. We must have a hard look at costs,” said president and CEO Tan Sri Mohd Hassan Merican.
I’m getting mixed messages. The previous week’s articles said that O&G market is getting back on its feet. And then PETRONAS cuts expenditure (and the companies at their knees). And for growing companies like mine, how we gonna pay for milk and diapers?
You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.
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KUALA LUMPUR, June 8 (Reuters) – Malaysia’s crude oil output has fallen to 550,000 barrels per day (bpd) this year from 600,000 bpd in 2008, as ageing fields took their toll after years of steady production levels, Petronas’ chief said on Monday. Overall output for both crude oil and condensates fell to 650,000 bpd versus 700,000 bpd last year, Mohd Hassan Marican, Petronas Chief Executive, told Reuters in an interview.
You can read the rest of the article here. I wonder how much of the drawdown is based on a conscious decision to let production slide due to lower crude oil prices.
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Dateline 2009-06-13, taken from the New Straits Times:
Hassan: No cutback in PETRONAS spending:
Petroliam National Bhd (PETRONAS) has not reduced any spending in the oil & gas sector, pledging a commitment of some RM35 billion for the exploration and production activities this year.
NST PETRONAS Spending
I think that PETRONAS might have held back a wee bit on local crude brownfield debottlenecking and production enhancement projects since the beginning of this year, but that’s me. I actually missed their booth at this year’s OGA, and I sincerely apologise.
You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.
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Posted by Wata
Another week, another scan of the Saturday Star newspaper. Here’s a list of job ads in the paper:
Wow, looks like the O&G industry is picking up, though most of these job are for the senior engineer.
Sigh, since I have moved with Synergy out of KL, will you patronise Chee Meng in my memory? Or invite me to meetings around Bukit Bintang at lunchtime? Is he doing packet specials?
26 Comments | engineering, Malaysia, oil and gas | Tagged: ConocoPhillips, Dialog, Ensco, IEV, KPOC, Marsya, Petronas, RasGas, SOGE, Synergy, Talisman, The Star | Permalink
Posted by Wata
Another week, another scan of the Saturday Star newspaper. Here’s a list of job ads in the paper:
Ah, Chee Meng, Chee Meng, the chicken rice shop. Sigh, since I have moved with Synergy out of KL, will you patronise Chee Meng in my memory? I’ll probably be there next Wednesday.
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Posted by Wata
Another week, another scan of the Saturday Star newspaper. Here’s a list of job ads in the paper:
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Posted by Wata
This is a shout out for the IEM. My Technical Division will be having a talk on the 19th March as titled above. It’ll be at 5:30 pm (makan-makan at 5:00) at the IEM , Bangunan Ingenieur, PJ.
My friend, Ahmad Sedek will be giving the presentation. The synopsis is:
It is anticipated that there will be less commercially viable oil & gas fields in the Malaysian shallow water. As such, there is an equal push towards developing fields in the deep (200-1000m water depth) and ultra-deep (more than 1000m water depth) water. In line with this shift, PETRONAS has set the tone by stating its ambition to make Malaysia as the regional deepwater hub and, along with its Production Sharing Contractors, has set the ball rolling by the successful oil production from Kikeh Deepwater Development. The presentation intends to share presentor’s general experience in the deepwater projects, which covers background, introduction to technologies, challenges/opportunities, and Kikeh development examples.
Come all, and get your 2 CPD hours.
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Posted by Wata
Here’s a thought for you. Some O&G production companies don’t like their former staff coming back and interfacing with their current workforces for a number of reasons:
And I guess it would be logical that the longer the time between departure and returning to the ex-employer fold, the less the pain of reconciliation.
In addition, there have been discussions in the past about production companies (aka PSCs) pinching staff from each other.
Now, PETRONAS / PCSB has tentacles into all PSCs in Malaysia. If there is such a policy, doesn’t that mean that any staff who leave PNAS are discriminated against when applying for work with a production company? Sure, they could apply to work with the service providers, but I would think that really isn’t where their strengths lie.
So, what do you do? Some staffers join a ‘stop gap’ company to reset their CVs as it were before working for (notice I didn’t say applying to) a PSC.
Another option is to get out of Malaysia altogether. If you agree to the above logic, or a variant of, you would stop wondering why PNAS staff go overseas once they decide to leave the ship. There’s a push and pull factor involved here.
5 Comments | engineering, Malaysia, oil and gas | Tagged: brain drain, Petronas | Permalink
Posted by Wata
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Wata - Malaysian Oil and Gas Engineer 