Here is what I found about ALTCO.

"Besides marketing LNG on long-term contracts, we are also involved in LNG trading in the spot market, chartering of LNG ships and supplying LNG through our trading company Asean LNG Trading Co. Ltd. (ALTCO). ALTCO has delivered spot and swap LNG cargoes to customers in Belgium, India, South Korea, Spain, Turkey and the USA."

What I need is the info about contract details (gas selling price, duration, capacity) between PSC and MLNG (SOGT/SSGP).
Some info I already obtained from Woodmac but I also need to hear it from the person dealing in this contract for more details and clarification.

ayak bro, i wont have internet once im back at my bilik sewa at kemaman, saya cadangkan pass the torch kat abg kik. dr satu otai ke otai lagi satu.

Hopefully the projects development will be 'boom' in next 2 years.. Barulah banyak Floater projects..

Contract details on SPA is a confidential information between MLNG/ALTCO and customer or PSC's offshore gas supplier (JX Nippon, Shell, Murphy, SKE, ROC, PCSB, KPOC, Total) to MLNG. I dont think you will get those kind of information.

bro gua suggest lu jadi next TS boleh?

next thread next thread

Boleh.. Boleh.. Tunggu 100 dulu

trima kasih abg kik~!

maap la x dapat nak start saya maseh green lg dlm bidang ong. bg otai2 handle dulu

Kerja liao today... OT... Sobs...

steady lah senior..

another day, another dollar bro...

Takpe... OT rate kinda

Penah keje area situ for a few months, jalan mmg teruk n berdebu gila. Waktu lunch mati kutu sial dok sana x tau nak wat apa.

SKPB already decided. No bonus no increment. Budget cut 30%.

Bart wanna join me? Am looking for another SCA. Check your inbox.

ABB wins contract worth more than US$50 million for FLNG facilities

Posted on February 7, 2015, Saturday





KUCHING: ABB has won a contract worth more than US$50 million to supply the electrical system for one of the world’s first commercial floating liquefied natural gas (FLNG) facilities, with the second to be owned by Malaysia’s Petroliam Nasional Bhd (Petronas).

According to a press statement, the contract was awarded in the fourth quarter of 2014 by Japanese engineering contractor JGC Corporation. JGC is part of a consortium that is building the facility for Petronas, along with Samsung Heavy Industries of Korea.

Under the terms of the contract, ABB will support the optimization of the facility’s electrical side by designing, manufacturing and supplying transformers, switchboards, motor-control centers and power management system.

In addition, ABB will also manage the installation of the equipment and ensure the electrical supply is integrated with systems it is powering.

“ABB is delighted to be selected by JGC for this pioneering project,” said Peter Terwiesch, president of ABB’s Process Automation Division.

“FLNG is a market with great potential and we are well placed to deliver to it with our vast experience in floating production, our extensive manufacturing base and innovative solutions in offshore oil and gas.

“Our fully engineered electrical system solution incorporates the latest technologies adapted to the offshore environment; it is a safe solution that ensures reliable electricity throughout the plant for the PFLNG2 to meet its demanding performance requirements,” he added.

FLNGs have long been considered an attractive concept, and a recent report by Douglas-Westwood estimated the market to be worth US$64 billion between now and 2020.

The agility of FLNGs allows oil and gas companies to exploit fields that would otherwise be uneconomical, and their environmental impact is minimal compared with conventional production platforms and pipelines.

The PFLNG2 will be built at Samsung Heavy Industries’ yard in Geoje, Korea in 2015.

When operations start in 2018, the facility will be moored over the deepwater Rotan gas field located off Malaysia. It is designed to produce 1.5 million tons of LNG annually for at least 20 years before it requires a dry dock.

FLNG plants resemble container ships, but are fitted with all necessary equipment to receive, liquefy and store natural gas extracted from offshore fields. The FLNG plant transfers LNG at sea to carriers that deliver it directly to the markets.


Read more: http://www.theborneopost.com/2015/02/07/ab.../#ixzz3R2kdm7Y3

MISC shares rise as group posts higher turnover, earnings for FY14

by Adrian Lim, adrianlim@theborneopost.com. Posted on February 7, 2015, Saturday





KUCHING: MISC Bhd (MISC) saw its shares rising yesterday as it registered higher turnover and earnings for financial year 2014 (FY14).

It rose four sen or 0.52 per cent to RM7.74 per share at closing yesterday, with 4.29 million shares traded.

The company in a filing to Bursa Malaysia yesterday said its FY14 turnover increased 3.6 per cent year-on-year (y-o-y) to RM9.29 billion while earnings for FY14 grew 5.7 per cent y-o-y to RM2.2 billion.

At the same time, MISC said its revenue for fourth quarter of 2014 (4Q14) gained 6.8 per cent y-o-y to RM2.29 billion.

However, the company noted its net profit for 4Q14 decreased 11.4 per cent y-o-y to RM959 million.

In its notes accompanying the release of its financial results for 4Q14 and FY14, MISC attributed the higher revenue in 4Q14 due to improved freight rates in petroleum business and the commencement of finance lease of floating production storage and offloading (FPSO) Cendor in the reporting quarter.

However, the company noted its chemical business recorded lower revenue from a smaller fleet of operating vessels while different phases of project construction has caused a decline in its heavy engineering revenue in 4Q14.

For FY14, MISC said improved freight rates in petroleum business, the commencement of finance lease of FPSO Cendor and higher earning days in liquefied natural gas (LNG) business contributed to the increase in the group’s revenue.

Going forward in 2015, MISC said,”The financial performance for the group in 2015 will continue to be underpinned by secured recurring income from a portfolio of long term contracts in the LNG shipping and offshore business segments.

“Despite the severe drop in global oil prices in the past few months, the petroleum shipping segment has found strength from sustained global oil production.

“Barring any material cut backs in global oil production, the recent strength in the petroleum shipping could be sustained for the year,” the company said.

Nonetheless, the company said market conditions for chemical shipping is expected to be relatively unchanged compared to 2014.

However,it believed that it will be a challenging year for the oil and gas services segment such as fabrication and construction, given the reduction in capital and operating expenditures by major oil companies in a low oil price environment.

MISC expects the group’s heavy engineering business will draw on its present orderbook to sustain its profitability during the year.


Read more: http://www.theborneopost.com/2015/02/07/mi.../#ixzz3R2kry4bh

Dear All O&G seniors here,

I am graduated under mechanical engineering and currently as a graduate engineer in SKPB fabrication yard in lumut. I have been here almost 1 year. Currently I am facing a dilemma. Please I need some advice from Seniors here.

Currently I am under project management piping preservation department doing LNG project, but my job scope somehow is too specific on one tasks, due to the project is very big and they requires specific personnel to focus specific task. and the task is very simple and the is too under load. i find it boring and limiting me from exposing to others disciplines. Even though I can personally learn from other disciplines, but without the job responsibilities on them I am lack of motivation to do so. I used to talk to my manager about my issue. he said he cant help much since this is client requirement. I only can have chance to work on new things after the project end, which is about 1 more year to go.

Then I got a new job offer. it is a sub-con grade of company, working on gas metering. they offer me mechanical engineer position, doing typical mechanical engineering job, job scope briefly as below:
 Support the Project & Engineering Team on all the Mechanical related work.
 Generate and verify mechanical BOM at both tender stage and project execution.
 Perform mechanical parts and materials sourcing.
 Perform fabrication inspection, site installation, pre-commissioning, commissioning and field troubleshooting.
 Liaise, coordinate and monitor with fabricators on assigned projects.
 Execute other assigned activities when needed.
 Ensure that general safety and health requirements for both clients and company are observed.

from salary wise, both of them are exactly same. Since I had the interview in the new company without a full one year of experience, I did not have much credit to bargain on the salary. but I am moving bac to KL area (where i am from) an this will cause me having slightly higher daily expenses. But I will try to bargain when complete my probation.

I can't decide whether i should stay in SKPB to gain more 'relaxing' experience or proceed to the new company.
In prospect wise, I heard LNG will b quite the future trend, but I am not sure my relaxing job scope right now is helpful for my future or not. for the new job, i am not sure gas metering has good prospect or not.

Additional comparision:
benefits if i choose to stay:
- low living cost + earn abit more from OT = save more money
- no traffic jam
- colleague here i have no issue with them (whoever i meet here is nice)

benefits if i choose to go:
- stay with family
- physically more comfortable working environment

FYI, SKPB fab yard in lumut is cutting cost as well due to low oil price, quite a number of contract based staffs cant get contract renewal recently. and i am contract based too and my 1 year contract is going to be end in coming march. the new company offering me permanent position, 90% of the staffs are chinese.

I hope seniors can give me some advise on my decision. if you are me, how would you choose? why?
Thank you for reading my post and your opinion.

This post has been edited by skypeace: Feb 7 2015, 03:54 PM

Are you Chinese? Don't limit yourself to interact within your racial communities only, O&G fabrication project are diverse personnel from different places.

If you are getting relaxing job scope then in future u will have relaxing salary and job as well. Even you work many years, at last interviewer still will access what you do and what is your scope. Unless you plan to stay long at SKPB.

I am Chinese. I give the info that the new company is 90% chinese is jz for reference. i am thinking maybe ppl will have some opinion on chinese cultural company.

thanks for you reply.