ok, very volatile
thanks for the input

Oh dear I creep negativity for O&G job market. Dont lost hope ya. There are still opportunities is downstream right now, if you dont mind working in construction environment, working from 0700am to - 0600pm (usually kena lagi awal due to morning HSE & toolbox briefing), Monday to Saturday. Belum campur hidu debu bauxite lagi.

It just that Upstream kinda suck at the moment. Not so much project like last time.

I wonder if Petronas is retrenching people. At these low oil price Petronas takes the biggest hit as the Production Sharing Contract favors the Contractor company during low oil price like now.

I haven't looked at the detailed commercial contracts, but how does Petronas get hit worse in today's situation? I thought all the partners including Petronas would be hit equally bad?

Also Petronas as a group has their downstream business which makes money to cover for their PCSB upstream. Many of the PSC aren't integrated companies, just upstream so I would venture that the PSCs are the ones being hit worse.

aye' for spe. i also prefer them, but nay for the malaysian section, haha always buat event time aku offshore
with the currency now makin naik plak cost nak renew SPE.

that bauxite is special utk org pantai timur jeee...mainly kuantan haha. x boleh blah the change there. i started working in kemaman in 2012, and 0ver the years seen the cherating/gebeng/bukit goh area turn from green kelapa sawit to orange/red bauxite....

these days if i balik kl, x guna jln cehrating dah, follow the air puteh route in to the highway. a bit further but cleaner.

The production sharing contract starts on a base oil price that is agreed on. It can be as low as $30 per barrel. So how it works is during low oil price like now, the contractor i.e. Shell etc will get to keep a higher percentage of the profit and cost recover more from Petronas. This is to attract companies to invest for the initial start up of the oil and gas industry. Once the production rates increase or oil price goes up, the terms changes to favor the NOC which is Petronas. NOC will get bigger profit share than the contractor.

My explanation here is just a very high level core PSC mechanism.

One PSC company invested lots of money in platform developments in the early 2000s to 2006 with base oil price less than USD 50, prior to the time when oil price exceeded USD 100. The company was a cash cow for its parent company post 2007, until recently. The ROI was a few years earlier than planned!

This post has been edited by Stamp: Dec 24 2015, 04:48 PM

They are letting go contract staff (irrespective of locals or foreign), most affected are the upstream business. New hire is frozen.

There's no plan to retrench permanent local staff in the near future. But staff were cautioned to keep their KPI or incur the chopping block.

The downstream biz isn't much affected by the low oil price.

Another upstream operator in the verge of retrenched its staffs. One of my friend lost her job.

which co?

Operator of block PM307 & SB303

Lundin starts to retrench people ? Damn. Last time i heard they were cutting 20 % salary.

Looking at the VSS trend consultants like Technip/Aker get hit first then followed by service companies SLB/Halli/Baker.

In operator companies, what is the safest department to be in? I think Geoscience and Subsurface is the safest as the department will always need people in working. I see support services like IT department first to cut

This post has been edited by MEngineer: Dec 26 2015, 08:39 AM

Petronas is still hiring. The latest intake was in November this year. They will keep recruiting new staff especially for rapid n fpso project. But this time limited to 'technical professional' position.

Guys I got meng in chemical engineering. Was having career break for years now its time to work. So forgive my zero experience. Im wondering if oil n gas still relevant as the price keep shooting down. And what would be tthe suitable position for me to apply ? I tried saja2 apply after graduation, thru their websites, but no responses, or my application always failed. Petronas haliburton etc. Some friend sometime passed me emails of recruiters, but all seemed wanting experienced ones. So, is there like im missing something in my cv that make my application rejected. I also saja2 applied to like small company before, oil gas consultant, they responded but I'm not sure if its a good place to start. What position should I really consider. How much can I asked for my starting salary. Or should I not bother much of the salary since I got zero experience in this field. I'm really looking forward to start my career next year. And, another dilemma. I got offer from a prof from nearby universities for PhD . I told him I can't because I plan to work soon. But he insisted and said this research won't bother me much, its will be related to my future work and he promised it will so flexible to my working hour. He offered me doing a research health safety in oil gas. So, im wondering how oil gas companies here responded to if I do a PhD and apply to work as well. Or should I just keep quiet about it when applying for the job.

As far as I know downstream is still hiring to fill up the vacant positions.

http://www.thestar.com.my/business/busines...ance/?style=biz
Borrow money and then continue to over staff the business are good way.
At least for all the O&G companies in this world, petronas are the only company that does not cut down the manpower.

Even HR being retrenched at Murphy & Bumi Armada...

HR sounds reasonable to retrench because they are support staff too. I always wonder what HR do on a daily basis. Seems to me they are always quite free. HR also don't fight for employees rights or increment. Any HR to defend this.

I think Technip did its part by holding its employees as long as it can. Currently Technip is out of job. So time to chop chop and chop