As far as I know, they are providing "habitat" to Carigali.

There is a saying that, "Be loyal to your company but never die for a company".

PETALING JAYA: An affiliate of Ranhill Energy and Resources Bhd has had its Petronas licence suspended indefinitely, putting a snag in the group’s RM753mil initial public offering (IPO) slated for next Wednesday.

According to a document sighted by StarBiz, Perunding Ranhill Worley Sdn Bhd’s (PRW) licence has been suspended “for an indefinite period” effective July 17.

“The suspension covers both upstream and downstream,” it read.

The document said PRW “shall not at any time and for any reasons whatsoever be allowed to make any reference to and/or utilise its Petronas licence (whether in whole or part thereof) in any of its future dealings with any party”.

Additionally, PRW and/or any persons connected to it would no longer qualify or be allowed to participate in any of Petronas’ tenders.

The document went on to say that ongoing tenders awarded to PRW would be passed on to the next recommended bidder after negotiations, while existing contracts would continue until they are completed.

“For umbrella contracts, no new work orders shall be issued,” the letter read.

PRW is a private entity 90%-owned by Ranhill Energy boss Tan Sri Hamdan Mohamad. It has an agreement to exclusively appoint Ranhill WorleyParsons Sdn Bhd – Ranhill Energy's 51% joint venture with Australia-listed WorleyParsons Ltd – to carry out engineering, procurement and construction management services for all projects undertaken by PRW.

Insiders believe the suspension was linked to work done on Petronas Gas Bhd’s liquefied natural gas (LNG) regasification plant in Malacca.

PRW won the RM1.07bil job in January 2011 in a consortium with Muhibbah Engineering (M) Bhd. The project involved engineering, procurement, construction, installation and commissioning works.

Industry sources confirmed that the regulators and bankers were looking into whether Ranhill Energy, controlled by Malaysia’s “water baron” Hamdan, was in breach of any disclosure rules relating to the licence suspension.

The IPO was billed as Ranhill Energy’s comeback after it was privatised in 2011 at 90 sen a share, or RM538mil.

The listing – which saw the emergence of big-name cornerstone investors such as Lembaga Tabung Haji, Eastspring Investments Bhd, Hwang Investment Management Bhd and Corston Smith Asset Management Bhd – drew attention because of its lucrative water concession in Johor, bankers said.

Ranhill Energy has an exclusive licence from the Energy, Green Technology and Water Ministry to provide source-to-tap water supply services to end-consumers in Johor.

The firm also intended to pay out 60% of its net profit as dividends in 2014, translating into a yield of 5%, Hamdan had said at the launch of its prospectus earlier this month.

He could not be reached for comment at press time. Book building for the IPO, which was oversubscribed, closed on July 15 for institutional investors and July 11 for retailers.

Close to half of the group’s turnover comes from its environment segment, which also comprises water and wastewater operations in China. Its oil and gas (O&G) business is No. 2, making up 37% of revenue.

Maybank Investment Bank is the principal adviser for the share sale and joint global coordinator, bookrunner, managing underwriter and underwriter, together with CIMB Investment Bank.

The IPO of 407 million shares priced Ranhill Energy at the top of its indicated range at RM1.85 apiece.

The company had noted in its prospectus that its “recent experience in leading a consortium of the country’s first LNG regas terminal provides valuable lessons to improve this method of contracting in the O&G industry in Malaysia. We plan to secure such further contracts based on our track record such as the Zawtika Development Project in Myanmar and the alliance contract for the Malacca LNG regas unit”.

Ranhill Energy also said it aimed to pursue future O&G jobs with Petronas such as marginal fields, enhanced oil recovery, the Refinery and Petrochemical Integrated Development in Johor, as well as the construction of more LNG terminals in Peninsular Malaysia.

http://www.thestar.com.my/Business/Busines...as-licence.aspx

Few years back it was RnZ right? Hmm...

And perhaps soon-to-be Aker Subsea.

Reliacraft

Just like another sin city like Labuan.

http://news.sky.com/story/1132538/helicopt...ea-off-shetland

You will start to care about it once it affects your work performance, motivation, pay rise and bonus.

Actually a lot of people thought that upstream only consists of Exploration but actually it consists of Production too, that's why we called it E&P business.
Downstream is where the processing plant is, including the chemical plant too.

Normally you will do x ray on the chest, blood test, breath test, hearing test and etc.

This post has been edited by mangoman: Oct 8 2013, 08:03 PM

Anyone has more information on the blowdown happened at ENSCO 53 rig? All of the crews evacuated safely...

At approximately 8.20 pm yesterday, 11 October 2013, we experienced a well control incident at a drilling rig working at the South Furious platform, located approximately 80km offshore from Kota Belud, North Sabah.

South Furious and the neighbouring Barton field were immediately shut down.

All personnel on board the drilling rig and South Furious platform, including Shell personnel have been safely evacuated. 2 liferafts were launched at 8.50pm and they were saved by JM Bayu and tug boat 2 hours later. Thankfully everyone is safe and accounted for.

This post has been edited by mangoman: Oct 13 2013, 06:28 AM

Not sure. To all, actually I just copy and paste the information from http://miricommunity.net/viewtopic.php?f=2...4dfef2b1e806a09

This post has been edited by mangoman: Oct 14 2013, 06:59 PM