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 Oil & Gas Careers V11, Upstream & Downstream, Market still slump ahead...

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ZZMsia
post Jul 27 2016, 07:40 AM

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QUOTE(BaRT @ Jul 26 2016, 12:23 PM)
Nippon FPSO fakap already.
Kinabalu PCC project in process of termination by PCSB.
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They have no experience in the said new SOW. What makes anyone think they can do it?? Even vendors don't want to work with them..

sukhoi35mk
post Jul 27 2016, 10:01 AM

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major acquisition still possible in current O&G crisis...

more competitors for MLNG..




QUOTE
Exxon snaps up InterOil in LNG push as Oil Search bows out


ExxonMobil Corp (XOM.N) said on Thursday it would buy InterOil Corp (IOC.N) for more than $2.5 billion in stock, adding a gas field to expand exports from Papua New Guinea and better positioning it to meet Asian demand for liquified natural gas.

Oil majors are targeting Papua New Guinea for growth as the quality of its gas, low costs and proximity to Asia's big LNG consumers make it one of the most attractive places to develop projects following a collapse in oil and gas prices.

"I think (the deal) shows that Exxon views LNG as a very strong growth business. I believe that LNG demand over time will grow faster than oil," said Brian Youngberg, oil analyst with Edward Jones in Saint Louis.

Exxon sealed the deal for InterOil after Australia's Oil Search Ltd (OSH.AX) said earlier on Thursday that it would not pay more than the $2.2 billion it offered in May, a proposal that was backed by French giant Total SA (TOTF.PA).

InterOil owns a 36.5 percent stake in the Elk-Antelope gas field, which is operated by Total. The acquisition will give Exxon interests in six licenses in Papua New Guinea covering about four million acres.

Oil Search said it and Total agreed that letting Exxon take over would help speed up development of the Elk-Antelope field.

Exxon said it would pay InterOil shareholders $45 per share in stock and that it would also make an additional cash payment based on the size of the Elk-Antelope field.

That payment is worth $7.07 per share for each trillion cubic feet equivalent (tcfe) of certified gross resource from the field above 6.2 tcfe and up to a maximum of 10 tcfe.

Exxon said it would evaluate processing of gas from the Elk-Antelope field by expanding its LNG export plant in Papua New Guinea. Oil Search also owns a stake in the LNG plant.

The plant is a 6.9 million ton per annum integrated project operated by Exxon. The gas is sourced from seven fields and Elk-Antelope gas could be used to feed an expansion.

"It will be interesting to watch how Exxon pursues the development of InterOil's gas resources. Will it be by expanding the existing LNG plant already operating in the country, or building a brand-new project?," said Pavel Molchanov, an energy analyst with Raymond James.

Credit Suisse (Australia) Ltd, Morgan Stanley and UBS are InterOil's financial advisers, while Wachtell, Lipton, Rosen & Katz and Goodmans provided legal advice.
prophetjul
post Jul 27 2016, 11:45 AM

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QUOTE(BaRT @ Jul 27 2016, 12:23 AM)
Nippon FPSO fakap already.
Kinabalu PCC project in process of termination by PCSB.
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Think LTH has been songlapped.

What a disgrace!
DuFfz
post Jul 27 2016, 11:50 AM

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QUOTE(ZZMsia @ Jul 27 2016, 07:40 AM)
They have no experience in the said new SOW. What makes anyone think they can do it?? Even vendors don't want to work with them..
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Business approach, approach high ranking individuals, make friends, award project, No experience no problem, we can get the right people to do the job at the right price.
In the end...

This post has been edited by DuFfz: Jul 27 2016, 11:52 AM
kaxe113
post Jul 27 2016, 03:57 PM

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QUOTE(kengyan @ Jul 27 2016, 02:59 PM)
European have some tongkat policy for unemployed. So they sure can no need to have a work.
Malaysia have robbing policy if unemployed.
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+1
ZZMsia
post Jul 27 2016, 04:59 PM

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QUOTE(Rorschach85 @ Jul 26 2016, 06:14 AM)
A North Sea oil worker has claimed staff are working on a “ticking time-bomb” as a dispute over changes to pay and conditions rumbles on.

More than 400 workers across eight of Shell’s platforms are set to stage the first in a series of strikes next week after RMT and Unite union members voted in favour of industrial action.

Workers have spoken to Energy Voice anonymously about their concerns over changes to their pay as well as morale offshore, which they said is the “lowest it has ever been”.

One worker, who has worked for Wood Group for a decade, said the pressures of job consultations, changes to equal time rotas and negotiations of pay had all been catalysts for strike action.

He said: “I have worked offshore for 10 years on the same Shell asset. I think the strike is happening now because the boys working offshore have had enough. We’re working on a ticking time-bomb and we’re working in a very dangerous environment.

“There’s been a lot of unrest and now they’re trying to offer us terms and conditions which are quite barbaric and phoning us at home when they’re not supposed to.

“I got a phone call at 8:30pm the other night telling me I really needed to look at my contract and get it signed and sent away.”

It’s understood some of the changes in dispute between employees and Wood Group are to salary structure which includes “inclusive payments”.

There were payments for overtime, nightshift, Christmas and New Year paid regardless of what was actually worked by staff member.

The new terms and conditions mean workers will be paid a base salary while additional elements of overtime and other holiday payments will be paid as staff work them.

The worker said his current pay deal could see a reduction in salary by as much as £20,000.

He said: “My current pay deal has been £68,000 and now they’ve come back to us with a figure of £53,000 of which £5,500 of that is for holiday so my basic payment is £48,000.

“It’s £20,000 less than my previously salary – they’re having a laugh. The pay cut we’re being expected to take is so severe.

“They’re cutting our sickness benefits, holidays. It’s the worst morale I have ever come across in my life. It’s horrific, the boys are just totally deflated.

“I do a lot of safety work offshore and I genuinely believe that it is a disaster waiting to happen because the boys’ focus is gone.

“I have always really enjoyed my job but it’s getting to the point now where I hate it. As well as changes to our conditions and pay, we’ve also been going through a relentless cycle of job
consultations.

“With the changes to the rota to equal time we are working an extra five weeks a year with no change to pay.

“The reason boys are finally striking is because our hand has been forced. I have a family to think about and it’s got to the point where the amount we’re being expected to lose – it’s too much money.

“If we don’t do this now, it’s going to affect every single individual in the North Sea and have a massive impact.

“I would rather be unemployed than take this pay cut.”

The first strike action will take place on Tuesday, July 26th with unions warning there will be further stoppages as the summer goes on unless the dispute with Wood Group is resolved.

A Wood Group spokeswoman said: “Our employees’ safety and welfare is our priority, and although we are extremely disappointed that they have chosen to take industrial action, we respect their
right to do so.

“We continue to engage proactively and openly with our employees and the unions with a focus on reaching a resolution. Safeguarding these jobs in the North Sea now and in the future has always been, and remains our priority

Ang moh pay also low..wow
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This must be Wood grp PSN; Wonder how is their salary scheme in Malaysia? How about Wood Kenny-JP Kenny..Ok Salary?


lem_an
post Jul 27 2016, 05:10 PM

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QUOTE(ZZMsia @ Jul 27 2016, 04:59 PM)
This must be Wood grp PSN; Wonder how is their salary scheme in Malaysia? How about Wood Kenny-JP Kenny..Ok Salary?
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WG Mustang & Kenny da lay off org and implement paycut since last april pun
TSmeonkutu11
post Jul 27 2016, 05:36 PM

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JP-Morgan-Inaugural-Energy-Equity-Conference-Presentation


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siacw04
post Jul 27 2016, 06:31 PM

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£48000 per month still complaining😠
Rorschach85
post Jul 27 2016, 07:37 PM

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QUOTE(siacw04 @ Jul 27 2016, 07:31 PM)
£48000 per month still complaining😠
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I think its per year not month
sukhoi35mk
post Jul 27 2016, 08:33 PM

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so, world's first FLNG starts production already? since already onsite for quite sometime... smile.gif

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This post has been edited by sukhoi35mk: Jul 27 2016, 08:58 PM
mohdyakup
post Jul 27 2016, 08:35 PM

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QUOTE(sukhoi35mk @ Jul 27 2016, 08:33 PM)
so, world's first FLNG starts production already? since already onsite for quite sometime... smile.gif
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First gas delay to October
mohdyakup
post Jul 27 2016, 08:45 PM

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Process fags kambing...

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mohdyakup
post Jul 28 2016, 03:43 AM

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Shell nak jual North Sabah field asset. Ada betul ka?
ZZMsia
post Jul 28 2016, 07:39 AM

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QUOTE(mohdyakup @ Jul 27 2016, 03:43 PM)
Shell nak jual North Sabah field asset. Ada betul ka?
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Believable.. They abandoned it last year (the redevelopment)

ZZMsia
post Jul 28 2016, 07:41 AM

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QUOTE(lem_an @ Jul 27 2016, 05:10 AM)
WG Mustang & Kenny da lay off org and implement paycut since last april pun
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Yes, reduced working hours I heard....... Not much greenfield jobs..... kenny is more on Pipelines and flow assurance..
rabloo
post Jul 28 2016, 08:33 AM

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QUOTE(kengyan @ Jul 27 2016, 10:35 PM)
48000 a month are more on senior consultant post, but for a year, it is quite low for European own citizen. Have to check in which country that fellow are and how much tax he is paying. Not to mention cost of living.
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It's per year. In the UK, when they talk about salary, it's almost always annual salary rather than monthly salary. Unless you're a premiership footballer, where you talk about weekly salary.
48,000 per year is manager level for non oil and gas companies, so 48,000 offshore is probably for technician level jobs.
BaRT
post Jul 28 2016, 08:38 AM

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QUOTE(mohdyakup @ Jul 28 2016, 03:43 AM)
Shell nak jual North Sabah field asset. Ada betul ka?
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aku dgr perkabaran yg sama, tp xde sapa nak beli lg.
Maybe will sell to China's company
mohdyakup
post Jul 28 2016, 09:16 AM

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QUOTE(BaRT @ Jul 28 2016, 08:38 AM)
aku dgr perkabaran yg sama, tp xde sapa nak beli lg.
Maybe will sell to China's company
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I heard Sinopec and CNPC are interested to buy this asset
mohdyakup
post Jul 28 2016, 09:18 AM

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Makan-makan Raya for today. Company kawan saya nie. Dia jemput datang. So saya jemput korang semua ahahahaha




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