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Oil & Gas Careers V10, Upstream & Downstream, Market slump ahead
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 Jul 12 2016, 09:47 AM
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Senior Member
4,351 posts Joined: Oct 2009 From: Bintulu, Sarawak  
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Wison Offshore, just recently completing Exmar FLNG, a small scale floater and currently on sea-trial.
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Jul 12 2016, 01:39 PM
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Senior Member
3,491 posts Joined: Jan 2013
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Petronas officials had said previously that with crude oil prices still far below the US$100 per barrel seen during the industry’s heyday several years ago, the development of marginal oilfields no longer made economic sense, given its high breakeven cost of production.
“The breakeven price was just above US$60 for the marginal oilfields to be economically viable,” said an industry official. In a statement yesterday, Petronas said the cessation of the RSC would allow it to minimise the project’s long-term value erosion and optimise the development and production activities in Malaysia in line with efforts to reduce costs and increase efficiency. |
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Jul 12 2016, 02:10 PM
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Junior Member
36 posts Joined: Jul 2016
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QUOTE(ZZMsia @ Jul 12 2016, 01:39 PM) Petronas officials had said previously that with crude oil prices still far below the US$100 per barrel seen during the industry’s heyday several years ago, the development of marginal oilfields no longer made economic sense, given its high breakeven cost of production. It's been a bad year for the Oil and Gas industry, a lot has been relieved from their post due to redundancy and the continuous drop of oil price in the market.“The breakeven price was just above US$60 for the marginal oilfields to be economically viable,” said an industry official. In a statement yesterday, Petronas said the cessation of the RSC would allow it to minimise the project’s long-term value erosion and optimise the development and production activities in Malaysia in line with efforts to reduce costs and increase efficiency.  |
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Jul 12 2016, 02:14 PM
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Senior Member
3,491 posts Joined: Jan 2013
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QUOTE(Wan Azaharm @ Jul 12 2016, 02:10 AM) It's been a bad year for the Oil and Gas industry, a lot has been relieved from their post due to redundancy and the continuous drop of oil price in the market. Yes, heard some of my colleagues are at a very bad state now..Former colleagues |
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Jul 12 2016, 03:06 PM
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All Stars
12,267 posts Joined: Oct 2010
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QUOTE(mohdyakup @ Jul 11 2016, 01:36 PM) THHE... A classic example of Malays killing Malays... Malas nak cakap further dah... Marilah kita berhuhuhuhu bersama2... Songlap killed the goose? |
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Jul 12 2016, 05:48 PM
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Senior Member
4,286 posts Joined: Jun 2008
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QUOTE(ZZMsia @ Jul 12 2016, 01:39 PM) Petronas officials had said previously that with crude oil prices still far below the US$100 per barrel seen during the industry’s heyday several years ago, the development of marginal oilfields no longer made economic sense, given its high breakeven cost of production. 1st October, banyak kontrak nak kena terminate ni. The Opex is ridiculously high. I was told that even FPSO to Platform they use Chopper service. Seriously??? What gold plated nonsense is this. First thing to go.“The breakeven price was just above US$60 for the marginal oilfields to be economically viable,” said an industry official. In a statement yesterday, Petronas said the cessation of the RSC would allow it to minimise the project’s long-term value erosion and optimise the development and production activities in Malaysia in line with efforts to reduce costs and increase efficiency. |
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Jul 12 2016, 06:13 PM
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Senior Member
1,356 posts Joined: Feb 2007 From: somewhere in Perak... 
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QUOTE(azraeil @ Jul 12 2016, 05:48 PM) 1st October, banyak kontrak nak kena terminate ni. The Opex is ridiculously high. I was told that even FPSO to Platform they use Chopper service. Seriously??? What gold plated nonsense is this. First thing to go. See who supply the chopper(^__^) |
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Jul 13 2016, 04:54 AM
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Senior Member
4,351 posts Joined: Oct 2009 From: Bintulu, Sarawak
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QUOTE(nash9701 @ Jul 12 2016, 06:13 PM) See who supply the chopper Westarrrrrrrr bergetarrrr hehehehe(^__^) |
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Jul 13 2016, 08:01 AM
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Senior Member
3,491 posts Joined: Jan 2013
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QUOTE(azraeil @ Jul 12 2016, 05:48 AM) 1st October, banyak kontrak nak kena terminate ni. The Opex is ridiculously high. I was told that even FPSO to Platform they use Chopper service. Seriously??? What gold plated nonsense is this. First thing to go. Vestigo future projects still will be ON? |
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Jul 13 2016, 08:26 AM
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Senior Member
4,286 posts Joined: Jun 2008
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QUOTE(ZZMsia @ Jul 13 2016, 08:01 AM) Vestigo future projects still will be ON? Semua ON. Terkangkang la lepas ni. |
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Jul 13 2016, 08:26 AM
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Senior Member
4,286 posts Joined: Jun 2008
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QUOTE(mohdyakup @ Jul 13 2016, 04:54 AM) Westarrrrrrrr bergetarrrr hehehehe Pancuuuuungggg |
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Jul 13 2016, 09:00 AM
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Senior Member
1,202 posts Joined: Dec 2010 From: HELL
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Hi may I know What job normally have in upstream for IT student?
What company normally hired? |
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Jul 13 2016, 09:02 AM
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Junior Member
206 posts Joined: Jun 2016
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aker engineering is still doing that 'job' with korean epc right?
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Jul 13 2016, 09:08 AM
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Senior Member
3,491 posts Joined: Jan 2013
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QUOTE(kaxe113 @ Jul 12 2016, 09:02 PM) aker engineering is still doing that 'job' with korean epc right? H*SS job? Yes, during fabrication..... |
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Jul 13 2016, 09:18 AM
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Senior Member
4,351 posts Joined: Oct 2009 From: Bintulu, Sarawak
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Aker recently won a front end job awarded from Idemitsu for gas field project at Vietnam.
http://www.ogj.com/articles/2016/07/idemit...ff-vietnam.html I wonder if the execution will be done at KL or Norway office? |
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Jul 13 2016, 09:21 AM
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Newbie
2 posts Joined: Apr 2016
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QUOTE(kaxe113 @ Jul 13 2016, 09:02 AM) aker engineering is still doing that 'job' with korean epc right? Bergading CPP? Yup still, and delayyy |
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Jul 13 2016, 09:56 AM
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Senior Member
1,356 posts Joined: Feb 2007 From: somewhere in Perak...
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Learn new term, SVS, selective voluntary severance
(^__^) |
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Jul 13 2016, 10:16 AM
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Senior Member
4,351 posts Joined: Oct 2009 From: Bintulu, Sarawak
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QUOTE(nash9701 @ Jul 13 2016, 09:56 AM) Learn new term, SVS, selective voluntary severance Hehe that one for Petronas retrenchment right? Hehehehehe(^__^) |
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Jul 13 2016, 10:20 AM
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Senior Member
1,597 posts Joined: Apr 2009
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QUOTE(nash9701 @ Jul 13 2016, 09:56 AM) Learn new term, SVS, selective voluntary severance What is the different with VSS and MSS?(^__^) This post has been edited by meonkutu11: Jul 13 2016, 10:20 AM |
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Jul 13 2016, 10:22 AM
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Senior Member
1,356 posts Joined: Feb 2007 From: somewhere in Perak...
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QUOTE(mohdyakup @ Jul 13 2016, 10:16 AM) Hehe that one for Petronas retrenchment right? Hehehehehe I thought different company, not Petronas |
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