yep. i wonder what will sapura do, before the oil price tumble they were planning a drilling campaign to be kick started in march.

This post has been edited by mhyug: Jan 9 2015, 11:18 AM

They have huge debt from buying sapura and buying sea drill. They probably could have pay back all their debt within a few years if oil price remained stabil and high. Let's see what will happen.

My guess is the politicians are going to get the tax payers to bail them out because they are supposedly too big to fail.

This post has been edited by Binyamin: Jan 9 2015, 12:33 PM

Hi, Morning all OnG sifus,

I need some recommendations,
Currently I am working as Design Engineer (consumer product) for 1.5 years, started low but the company gave huge increment, I earning roughly
4k monthly starting this year.

I am always interested oil and gas industry, but been trying hard, sent out resumes getting zero interview invites, I am graduated from overseas last two years with Mechanical Engineering background with okay grade.

I would like to ask shall I still keep trying and what should I put for expected salary.

Yet, I not quite sure what should I really want to do, I kinda of getting bored for my current job.

I still young, I really want to explore the all possible challenges.

Please give some useful advice. Thanks.

http://www.thestar.com.my/Business/Busines...gins/?style=biz
Think again. Suggest stay at your current place.

really?
they already secure quite huge project until next year.

I don't' study their financial statement but I know they are an oil field operator. Logically if oil price dip their income will be directly affected unlike other OnG contractor that don't derive their income directly from the price of oil.

I believed there is a reason why they are called "SapuKencang".
they are an operating company, drilling contractor, services providers incl. marine n subsea inspection n maintenance, and drilling rig, production platform builder and conversion, repairs....

There are so many subsidiaries in SapuraKencana, and I believe TLO will be their main anchor/cash cow during this slow down in O&G

Forgot to mention, SKE as well

This post has been edited by mohdyakup: Jan 11 2015, 12:09 PM

I think SKE will be their loss maker as when they acquire new field, the acquisition is based on forecast of USD 100 and above per barrel.

huhuhu

Bad times. I work in one of the oilfield service companies and even our packages has been reduced. At least no retrenchment going on.

pay cut?
which country this company from?

oil field service get biggest hit... hope the exploration companies still can hold for sometime.

no hope for increments, pay cut might be happen starting this year.. no retrenchment then I'm already happy

This post has been edited by InF.anime: Jan 12 2015, 03:35 AM

No pay cut. But salary is small to begin with. One of the local slickline service company.

Hi guys. Need your help here. I'm currently looking for an internship position in the oil & gas industry. Any recommendation or contacts to send my resume? or if you know of any vacancies in your company that i can fill

MCS is from Egypt, have a branch in Malaysia. When is your interview?

Hi sifus,

I'm just starting as instrument engineer joining a small local company. Could you guys shed some info what is the best path for instrument or is this career doesn't have a bright prospect?


1) as field engineer - metering, calibration, installation

2) design/ consultant

3) system side - dcs programming


which side should I join first?

wah....as i know oil n gas company is good for benefits compare to the other industry..
cant believable not increment and will retrenchment....

History repeats itself with the oil price dip and retrenchment, unfortunately most people don't bother to learn history and rush to join the industry