This Petrobras fiasco has become a serious matters nowadays, luckily for Petronas deciding to cancelled partnership with OGX Brazil last time...

Major bribery scandal involving keppel and semcorp marine paying to get contracts(more like kantoi)......they are now under investigation hence the circular despite what they say in the media(PR).

I am surprise no posting on petronas dagangan 99.7% net profit loss. I also heard there are talks in petronas to cut 10% of their total manpower to manage costs (Not sure how true is this). Malaysia seems to be suffering from OPEC's oil manouvers.

heard they hold the manpower cut for now.

let's see what the new Petronas CEO will do.

Just to share, Petronas is even going back to review contract on making GST non-reimbursable.....previously before oil price drop, the contract made (2013) state GST is reimbursable by main-con from Petronas, now they want to revise this term
this oil price drop is certainly not good for my co. as well as Petronas, everywhere is looking to cut-cost..

this one really serious mangg...

Spoken with my friend working with oilfield services company, to be awarded new contract by Petronas, min 15% discount or no contract awarded.

Stable ok to join this company, Petroleum Geo Services? This is their latest 2014 financial result. Probably no bonus, no increment for 2015 like that lo.

http://www.pgs.com/pageFolders/357545/Q4%2...resentation.pdf
http://www.pgs.com/pageFolders/357547/Q4%2...ase%20FINAL.pdf

PGS Fourth Quarter and Preliminary Full Year 2014 Results
12 Feb 2015

Strong 2014 MultiClient Late Sales
Well Placed to Navigate Current Market Environment

Q4 2014 results and webcast

Revenues of $1,453.8 million, compared to $1,501.6 million in 2013

Highlights 2014

EBITDA of $702.6 million, compared to $828.9 million in 2013
EBIT, excluding impairments, of $178.0 million, compared to $397.1 million in 2013
Group EBIT margin, excluding impairments, of 12%, compared to 25% in 2013
Cash flow from operations of $584.3 million, compared to $775.3 million in 2013
Recorded impairments of $73.8 million (of which $39.7 million in Q4)
Higher MultiClient amortization, reflects Triton sales and increased market uncertainty
Took delivery of Ramform Atlas in Q1, further reducing fleet's average costs
Beat target for 2014 cost reduction program, with $90 million reduced cost
Further strengthened long term financing through Term Loan B extension and securing export credit financing for the two last Ramform Titan-class vessels
Strong balance sheet with $454.7 million liquidity reserve and no significant debt maturities before 2018

"MultiClient late sales of $120.0 million in Q4 is a new record for PGS. Despite the challenging market there has been good appetite for quality data in the right locations. The marine contract EBIT margin was negatively impacted by weaker pricing and utilization in in the quarter, and for the full year it ended at 15%.

The low oil price and cautious spending behaviour among oil companies continue to impact bidding, pricing and vessel utilization. Visibility is low and we are continuing our proactive approach to prepare for the challenging year ahead. Having already stacked low-end capacity vessels and with further measures being implemented, we expect a cost reduction of $190 million in 2015, excluding growth of our asset light activities and schedule driven changes.

First quarter 2015 will be weak, especially for Marine Contract. Over the last years we have positioned the Company to perform over the cycle - with a solid balance sheet, MultiClient discipline and the most productive fleet in the industry. We are well placed to navigate in the current market environment.

Our full year 2015 guidance is reiterated, but the current market remains very uncertain."

Jon Erik Reinhardsen,
President and Chief Executive Officer

This post has been edited by HappyHampers: Feb 13 2015, 11:41 AM

With regard to the company stability, just dont bother - market condition are really bad. Just join any related O&G Co. to built your foundation. Nowadays cannot be picky anymore.

like yoda style i guess you do not .

Yes. I heard the same too. Now they seeking 15-30% discount for all project we tender previously during negotiation.

I have a feeling this downturn wont be for long..


This post has been edited by kaisk8freak: Feb 13 2015, 03:03 PM

Well I don't mean to sound mean and discouraging but try to imagine I don't know you and I notice many grammatical errors in your resume and cover letter. I will probably think because you are incompetent in english who knows what else you can't do. And most engineering jobs are really people job. If you piss off the wrong people or client with bad communication you and your boss can get into trouble.

So not knowing you but just from your bad command of English through your resume, most bosses might thank themselves for noticing that and not hire you. You are not in uni yet right? You have a couple of years to improve your english anyway.

This post has been edited by Binyamin: Feb 13 2015, 03:47 PM

Yep. I was forwarded that letter from Petronas already, renegotiate all tenders awarded...

Life will be challenging this year.

Even for my company, I'm asking for further discount.. Now is the cost cutting season..

PGS is a good company to work for.. My Ex-GF used to work with them...


This post has been edited by abgkik: Feb 13 2015, 05:22 PM

By the way, I'm from IT field, not oil n gas. Just I saw many OnG companies hiring many IT positions recently.

Required: Senior Reservoir Engineer - permanent role.
Min 10-15 yrs experience in reservoir engineer (with at least 7 years in reservoir simulation). Experience in numerical simulation, preferably Eclipse.
Malaysian only.
Interested, pls email me noriza.nadzri@spdltd.com

Dear Mr. Yakup,

Please note that we have a Sr. Contract Administrator position in a reputable company in Saudi Arabia. The project will be in Jeezan and the package is very good.

Are you interested? if so, please send your CV at: info@talentpower-lb.com.

Regards,

Victoria Nakad

Maybe you are replacement of my Ex-GF..

Oil price now increase to usd60 oledi?