Heard got explosion at a refinery in Johor

MMHE has very good workload
Kasawari CPP construction going to start in a few months..
That itself is super huge......

WHP ongoing.

so this CAPEX is for overall oil and gas industry? Not Petronas direct only?

Signed an offer letter

About to join new company next week- but Company refuses to allow me to start work/ saying the job offer is postponed.

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Situation above is faced by an ex-colleague, is this legal? Can he request for notice period compensation?

Today crude oil break to $18.

Shell Wins $340MM in Floater Dispute Arbitration

Sabah Shell Petroleum Co. Ltd. (SSPC) has won $339.7 million following an arbitration with a subsidiary of MISC Berhad, on the heels of SSPC's half-a-billion-dollar counterclaim for defective work involving the construction and lease of the Gumusut-Kakap semi-floating production system.

The Asian International Arbitration Centre issued the award on April 8, according to an April 10 announcement from MISC.

The SSPC award included $236.38 million for defects rectification work, $15 million for liquidated damages, and $88.32 million as refund for an overpayment of additional lease rate originally awarded to MISC's semi-floating production system for April 2014 to January 2020. The Centre also awarded costs of $12.75 million to SSPC, and an interest rate of 6.65% applies from the date of the award until payment, according to MISC.

"SSPC is entitled to set-off the above claims against moneys owed by SSPC to GKL under the contract, including but not limited to the lease rate," MISC said in a written statement.

Separately, Gumusut-Kakap Semi-Floating Production System Ltd. (GKL) received $222.13 for its claims related to the project, however $88.79 million will be deducted as manpower costs. The remaining $133.34 million will be converted to a lower, additional lease rate.

"The new additional lease rate is payable from the date of the award. The base rate is unaffected by the award and will continue for the fixed term," MISC said in a statement.

Back in November 2012, GKL signed a Semi FPS lease agreement with SSPC for the construction and lease of the semi-FPS. But a dispute surfaced with SSPC over outstanding additional lease rates, payment for completed works and other related costs for the construction of the semi-FPS.

This resulted in GKL pursuing arbitration in September 2016. The following year, it won $255 million and $10.9 million as payment of completed variation works following two adjudication decisions in its favor.

However, SSPC denied GKL’s claims and filed a $588 million counterclaim for defective work, limited functionality of the Semi-FPS, liquidated damages and a refund of the sum paid to GKL under the adjudication rulings.

Heard to be confirm soon by MISC. Good FPSO which turn 180k barrel per day.

But at this point of time on oil price and covid nit sure, how true it is.

Good news about Jerun as someone told me project cancelled yesterday 

Do you think it will proceed in Q4 2020 if the current low oil price continues? 

True, like wet dream. By that time even airline already release their plane lease. Pilot and crew out of job. Some not all.

Awarded to ranhill worley I heard

What's the status on Kasawari? Still a go I assume since all EPCIC contracts been awarded?

What about Jerun?

And how far away is R&M from EPCIC tender?

Business really that bad? short term or long term?

Ranhill got rosmary marjoram but heard want to retrench.?