Yep..pbjv is t&i contractor

GOM the company that does pipelines, shut down entirely ? They're part of Puncak O&G, are they shutting down as well ?

MISC buys back 50% equity in Gumusut-Kakap for RM1.9bil

KUALA LUMPUR: MISC Bhd is buying back the 50% equity interest in Gumusut-Kakap Semi-Floating Production System (L) Ltd (GKL), the owner and lessor of Asia-Pacific’s first deepwater semi-submersible floating production system (semi-FPS), for US$445mil (RM1.9bil) in cash.

The energy shipping giant had disposed of the stake at cost to sister company Petronas Carigali’s unit E&P Venture Solutions Co Sdn Bhd in December 2012 for US$305.7mil (RM1.3bil).

MISC told Bursa Malaysia on Wednesday that it had sold the stake in GKL, which left it with the remaining 50%, to strengthen the group’s financial position, which has since improved significantly.

The monetisation of GKL enabled the MISC group to pare down its debt and improve its liquidity and cash position, it explained.

As at Dec 31, 2015, the group’s gearing level stood at 0.18 times. As such, it said, it would be able to undertake the proposed acquisition without impacting its gearing much.

Based on the proforma effects of the proposed acquisition, its gearing is expected to increase from 0.18 times to 0.30 times.

“The proposed acquisition represents a good opportunity for MISC to fully own an asset that is under a long-term lease with a strong client, which is a subsidiary of an international oil and gas company,” MISC said.

It noted that the Gumusut-Kakap semi-FPS was on a lease that would expire in 2039, 25 years from the start of commercial production in October 2014.

The Gumusut-Kakap deepwater project off Sabah’s coast is a joint-venture between Sabah Shell Petroleum Company (33%, operator), ConocoPhillips Sabah (33%), Petronas Carigali (20%) and Murphy Sabah Oil (14%).

According to a Shell website, the Gumusut-Kakap field comprises 19 subsea wells, with oil exported via a 200km long pipeline to an oil and gas terminal in Kimanis, Sabah.

MISC, which is a 62.67% owned subsidiary of Petroliam Nasional Bhd, said it would gain full control over GKL and would be able to fully consolidate its future earnings as GKL becomes its wholly-owned subsidiary.

“The increase in stable and recurring revenue contribution to MISC will further strengthen the financial position of the MISC group,” it added.

The proposed acquisition is expected to be completed in the second quarter of 2016.

GKOM, which is part of MISC subsidiaries. Similar like EPOMS which into O&M business. Banyak betul duit MISC hahahaha

I only know one fella working at GKOM. GKOM payscale is higher than EPOMS (for offshore operation)

This post has been edited by mohdyakup: Feb 25 2016, 07:54 AM

This is rare.

http://www.jobstreet.com.my/en/job/5103403/origin/sg?fr=21

Really? How did they get to be in the T&I contract?

God help us!

...

This post has been edited by mohdyakup: Feb 25 2016, 08:46 AM

what size?

FPSO Ventures payscale also higher than EPOMS.

Can someone translate to me pleaase? I only interested with Tecnimont wording hehe

Petronas Gas profit rises to nearly RM2bil

PETALING JAYA: Petronas Gas Bhd earnings rose to nearly RM2bil in the financial year ended Dec 31, 2015 boosted by a one-off recognition of deferred tax asset (DTA) while it expects its agreements and utilities to underpin its steady performance for 2016.

Petronas Chemicals net profit rises to RM704mil

PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) reported a net profit of RM704mil for its fourth quarter ended Dec 31, 2015, or a 40% increase from RM500mil a year ago.

pbjv can only do pipeline work (phew!) for T&I contract. lega!

Italian energy giant Eni said on Wednesday that the Mozambique government had approved the plan of development for the company’s Coral FLNG project.

The approval relates to the first phase of development of 5 trillion cubic feet of gas in the Coral discovery, located in the Area 4 permit.

The giant discovery, located approximately 80 kilometers offshore of the Palma bay in the northern province of Cabo Delgado, is estimated to contain around 16 trillion cubic feet (TCF) of gas in place.

The plan of development, the very first one to be approved in the Rovuma Basin, foresees the drilling and completion of 6 subsea wells and the construction and installation of a floating LNG facility, with the capacity of around 3.4 MTPA, Eni said in a statement.

“Today’s approval of the Coral plan of development is a historical milestone for the development of our discovery of 85 TCF of gas in the Rovuma Basin. It is a fundamental step to progress toward the final investment decision of our project which envisages the installation of the first newly built floating LNG facility in Africa and one of the first in the world,“ Eni’s CEO, Claudio Descalzi said.

Eni is the operator of Area 4 with a 50% indirect interest, owned through Eni East Africa (EEA), which holds a 70% stake of Area 4.

The other partners are Galp Energia, Kogas and Empresa Nacional de Hidrocarbonetos (ENH) with a 10% stake each. CNPC owns a 20% indirect interest in Area 4 through Eni East Africa.

6' x 20' & 6' x 23'

Quantity : >50pcs

(^__^)

Now I know who is the partner for Tecnimont for Rapid polypropylene package. Its called China Hianqiu or HQC, a subsidiaries of CNPC. Harap this Co. perangai tak macam CCEM kat Gebeng. Hehe. Rather solicit job opportunities with Hanqiu its better for me to approach Tecnimont. Sorry statement ini bukan berbaur racist but I cannot speak Mandarin which will hinder my application.

HQC is also MMHE's partner in their Rapid package for client Technicas Reunidas.

I see. No wonder MMHE won a lot of onshore structural fab job for Rapid. Do you have any idea where I can approach Tecnimont?

i heard that they have stop hiring the field service rep. they have this so called apprentice program to groom their newly joined to become the FSR.
Last time those with experience in control and rotating equipment can apply for the FSR post.

I see. Solar is JV with Malaysian partner called Turboservices right?