Shapadu are now getting quite a lot of subcontract for skid & structural fab works coming from Gebeng and Rapid clients.

Gebeng is the hot money pits right now after Rapid.

Next year money pit would be Bintulu for Huchems and BIG-P projects.

Good thing is they still have contract in hand for p101.
But not sure if pcsb still has program for 101 once finished with vestigo well.

the story in Sarawak continues to develop

http://www.theborneopost.com/2016/08/23/pe...cal-tour-firms/

http://www.theborneopost.com/2016/08/19/je...tform=hootsuite

nothing interesting.

PETRONAS Minimizes Staff Redundancy to Facilitate Capability Development


Rigzone Staff

Tuesday, August 23, 2016

Malaysia's PETRONAS minimizes layoffs in order for the firm to continue with its capability development, a senior executive says.

Malaysia's PETRONAS minimizes layoffs in order for the firm to continue with its capability development, a senior executive says.

Malaysia’s Petroliam Nasional Berhad (PETRONAS) kept staff redundancy, triggered by the downturn in the oil and gas industry, to a minimum possible as the national oil company (NOC) wanted to continue with its capability development, Neil Horbachewski, Vice President, Center of Excellence, Upstream said Monday at the IADC/SPE Asia Pacific Drilling Technology Conference and Exhibition in Singapore.

"The number of staff that was retrenched was minimal because the management recognized that this (downturn) isn’t going to last forever and we need to maintain our capability development," he said.

PETRONAS needed the 35 year olds and under to stay with the company longer given that they made up 55 percent of the company employees.

The NOC had also learned from its previous experience when former employees left to join other oil and gas companies around the world.

"PETRONAS did this 15 years ago when they went through a severe change … a lot of people left the company ... as it wasn’t competitive, so they were losing people with certain experience," Horbachewski recounted.

He added that the need to retain certain talents does not stop at oil and gas producers, but extends to the service companies as well as that’s the way for the industry to get better at what it does. In this regard, producers need a certain baseload of capital spending that allows the industry to keep trying to innovate.

"Otherwise we have enough outside influence on young people going to university telling them that the oil and gas industry is a big bad place to go. We (also) don’t need to help support that (view) for those that have been working 10-15 years (in the oil and gas industry) and telling them they have to find some place to go to. I’m glad we kept the people," Horbachewski commented.

PETRONAS cuts 1,000 jobs earlier this year following a strategic review by the company in response to the prolonged industry downturn, in which oil prices have lost around half of their value since the second half of 2014. The NOC had around 51,000 staff at the end of 2014.

Like PETRONAS, Malaysia's SapuraKencana Drilling Pte Ltd. also noted the importance of capability development and the company believed that such investment in staff should not be disrupted even in the current industry downturn.

"More often than not in a downturn, we cut training cost. And to me that is shooting yourself in the foot. Investing in our people should be sustained," SapuraKencana Drilling CEO Raphael Siri told conference attendees.

UMW Oil & Gas posts three consecutive quarters of loss

By Gho Chee Yuan / theedgemarkets.com | August 22, 2016


KUALA LUMPUR (Aug 22): The prolonged slowdown in the oil and gas industry continues to weigh UMW Oil & Gas Corp Bhd's (UMW OG) earnings down.

The oil rig operator posted a net loss of RM67.25 million or 3.11 sen per share in the second quarter ended June 30, 2016 (2QFY16), compared with a net profit of RM4.46 million or 0.21 sen per share in the previous corresponding quarter.

This is the third consecutive quarterly loss for UMW OG.


On a quarterly basis, the group’s net loss has narrowed by 6.2%, as compared with RM68.53 million in 1QFY16.

It reported its first quarterly net loss of RM410.53 million, since its listing on Bursa Malaysia in 2013, in the fourth financial quarter ended Dec 31, 2015 (4QFY15).

Quarterly revenue dropped 29.1% to RM130.01 million from RM183.37 million, as the drilling services and oilfield services segments continued to be impacted by low levels of exploration, development and production activities in the oil and gas industry.

No dividend was declared for the quarter, it told the stock exchange today.

For the cumulative six months (1HFY16), it posted a net loss of RM132.32 million or 6.12 sen per share, compared with a net profit of RM36.61 million or 1.69 sen per share in 1HFY15, also due to the same reason.

Cumulative revenue more than halved to RM217.69 million, from RM495.87 million previously, as weak oil prices took their toll on exploration, development and production activities in the oil and gas industry.

During the period, both the drilling services and oilfield services segments incurred losses of RM141.37 million and RM11.52 million respectively, according to its unaudited financial statement posted on Bursa Malaysia.

Its drilling services and oilfield services segments recorded profit of RM43.65 million and RM3.6 million respectively in 1HFY15.

Going forward, UMW OG said its financial performance for the remaining period of the year is dependent on the outcome of potential local and overseas contracts, which the group is currently working on.

"If the group succeeds in securing some of these potential contracts, asset utilisation in the last quarter of 2016 is expected to improve," it added.

Shares in UMW OG dropped two sen or 2.54% to 96 sen today, for a market capitalisation of RM2.07 billion.

I remember a friend who was working in PETRONAS back then 15 years ago was furious when the then PETRONAS CEO told its staff, "If you want to quit, quit laa!". He quit and joined ARAMCO and is having a great life in Saudi now with his family. In fact, PETRONAS lost many of its talented staff 15 years ago to its competitors in the Middle East, partly due to the arrogance of the CEO. Obviously the CEO underestimated the true capability and marketability of its own trained engineers of whom some were high flyers.

I am glad PETRONAS learnt the lesson.

This post has been edited by Stamp: Aug 23 2016, 01:54 PM

MISC bags rm925mil contract in first foray into Thailand

http://www.thestar.com.my/business/busines...-into-thailand/

I wonder what is the number of the cut off..

haha i'm not a vendor.. but would be interested.

https://www.pixavi.com/product/mobile-devic...afe-smartphone/

Deepsea Metro I drilling ahead with Petronas until mid-September

MALAYSIA: Odfjell Drilling drillship Deepsea Metro I is drilling ahead for Petronas Carigali at the Limbayong 4 well on the Limbayong field offshore Sabah, and is expected to complete this around mid-September 2016.
Odfjell Drilling's Deepsea Metro I has been chartered for one firm well in approximately 60 to 70 days, and four optional wells, resulting in total contract duration of up to 245 days. It is understood upon completion of the firm well Deepsea Metro I will mobilise to Labuan until a follow-on scope is secured for the unit.

23-Aug-2016


Murphy Malaysia's floater scope may be pushed to 2018
MALAYSIA: Murphy Malaysia's floater drilling campaign might be pushed from a start date in 2017 to sometime in 2018.
Earlier this year, the operator issued a market survey to drill a number of wells in the second half of 2017 over around four to eight months in water depths between 1,100-1,500 m (3,609-4,921 ft) offshore Sabah/Sarawak. On the sidelines of the IADC/SPE Asia Pacific Drilling Technology Conference in Singapore it was revealed to IHS Markit that the time to drill will be determined by budget and regulatory approvals. It is understood the operator now seeks to drill one to two wells only.

23-Aug-2016

wanna see this topic continued here

http://www.freemalaysiatoday.com/category/...ssure-petronas/

I think you should move this discussion to Kopitiam or RWI.

hahaha! saw this in /k, so i bring it here to troll since it was hot topic here couple weeks back.

I fully agreed. No need to continue this here as it is beyond our control and just create more hatred.

come on guys leave the race/state/religion sentiment out. lets focus on the oil here.

bak kata banyak otai2 disini, we can agree to disagree, tetapai kita semua masih dibawah satu bendera.

but please do bring our coverall color sentiments tho haha. damn those ha**t***n or sl***j***r

This post has been edited by mhyug: Aug 24 2016, 02:35 PM

to be precise, lets focus on careers in oil & gas in here!

This post has been edited by Stamp: Aug 24 2016, 02:41 PM

This is just my personal opinion. Not really an expert. Cap ayam jer saya nie.

I keep hearing this renewable energy is going to replace our dependent on fossil fuels. This has been talked by expert 30 years back.

Electric cars, hybrid cars, geothermal etc are meant to complement the growing energy needs by consumers. But again, we are still fully depending on fossil fuels because the infrastructure to support renewable energy are still lacking. Surprisingly, all the research effort are fully funded by O&G majors itself on renewable energy. If the oil major company takdak duit, who's gonna funding all the renewable energy effort? So, fossil fuels are here to stay. But the demand would not be like what we have for the past 10 years due to efficiencies and technologies advancement.

Hydrocarbon has indicted a very vital roles in our life, lets not limit on petrol diesel bla bla bla, we have petchem, LNG etc. Every single daily products that you consume everyday is derived from hydrocarbon.

O&G are here to stay.

Anyone heard Baker Hughes is pulling out of Malaysia?

Price still on the high side. If really take over pun..power generation required to charge these cars still require fossil fuel.