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 Oil & Gas Careers V12 - Upstream & Downstream, Market still slump, slow, snail pace...

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Stamp
post Oct 7 2021, 11:44 AM

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QUOTE(iamyourdaddy27 @ Oct 7 2021, 10:53 AM)
Anyone know the reason why Limbayong tender is aborted once again? and whats the plan moving forward? is the project dead for good?
*
that's news to me.

maybe the current brent crude price above USD80 could have changed the development strategy.
iamyourdaddy27
post Oct 7 2021, 11:49 AM

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QUOTE(Stamp @ Oct 7 2021, 11:44 AM)
that's news to me.

maybe the current brent crude price above USD80 could have changed the development strategy.
*
yeah petronas issued the abortion notice on 30th September. Project did not fly because of brent crude price is the same reason it was aborted previously. quite fed up supporting this project for years now with no progress biggrin.gif rclxub.gif
Stamp
post Oct 7 2021, 11:53 AM

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QUOTE(iamyourdaddy27 @ Oct 7 2021, 11:49 AM)
yeah petronas issued the abortion notice on 30th September.  Project did not fly because of brent crude price is the same reason it was aborted previously. quite fed up supporting this project for years now with no progress  biggrin.gif  rclxub.gif
*
if my memory serves me right, the first time the bid was floated out, brent crude price was hovering around USD50. the price has since increased quite significantly by now, hence the need to revisit the development strategy.
ZZMsia
post Oct 8 2021, 09:09 AM

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QUOTE(iamyourdaddy27 @ Oct 7 2021, 11:49 AM)
yeah petronas issued the abortion notice on 30th September.  Project did not fly because of brent crude price is the same reason it was aborted previously. quite fed up supporting this project for years now with no progress  biggrin.gif  rclxub.gif
*
Heard the same info just a few days back.

SPS project is still on? Technip FMC was awarded
ZZMsia
post Oct 8 2021, 09:18 AM

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Anyone got this article?
its being forwarded in whatsapp groups but without the full article

https://www.upstreamonline.com/exclusive/pe...ect/2-1-1077547
contestchris
post Oct 8 2021, 09:28 AM

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QUOTE(iamyourdaddy27 @ Oct 7 2021, 11:49 AM)
yeah petronas issued the abortion notice on 30th September.  Project did not fly because of brent crude price is the same reason it was aborted previously. quite fed up supporting this project for years now with no progress  biggrin.gif  rclxub.gif
*
How would the HIGHER price of crude oil be the reason?

Shouldn't this actually be all the more reason a project should be fast tracked?

I've not heard of a project not going ahead because of price of crude oil (which lets be honest, can be up and down as it pleases).
ZZMsia
post Oct 8 2021, 10:05 AM

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QUOTE(contestchris @ Oct 8 2021, 09:28 AM)
How would the HIGHER price of crude oil be the reason?

Shouldn't this actually be all the more reason a project should be fast tracked?

I've not heard of a project not going ahead because of price of crude oil (which lets be honest, can be up and down as it pleases).
*
I've not heard of a project not going ahead because of price of crude oil (which lets be honest, can be up and down as it pleases).


Not true bro.
Happened many times already. Those major projects scrapped or postponed. One of the major offshore projects postponed during the earlier crash was in 2015 and finally awarded in 2019 July.


contestchris
post Oct 8 2021, 10:11 AM

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QUOTE(ZZMsia @ Oct 8 2021, 10:05 AM)
I've not heard of a project not going ahead because of price of crude oil (which lets be honest, can be up and down as it pleases).
Not true bro.
Happened many times already. Those major projects scrapped or postponed. One of the major offshore projects postponed during the earlier crash was in 2015 and finally awarded in 2019 July.
*
I'm sorry, I meant not heard of a project NOT going ahead when the price of crude oil is high.

Obviously if the price of crude oil crashes, then the project becomes non-viable, in which case the project will be either scrapped or postponed.
snoozee P
post Oct 8 2021, 10:34 AM

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QUOTE(iamyourdaddy27 @ Oct 7 2021, 10:53 AM)
Anyone know the reason why Limbayong tender is aborted once again? and whats the plan moving forward? is the project dead for good?
*
The project retender again..only the FPSO package retender
ZZMsia
post Oct 8 2021, 10:50 AM

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MALAYSIAN national oil company Petronas has suffered a setback on its first deep-water oilfield development in Malaysia, and in the process has unsettled the contracting sector.
Four Malaysian bidding groups are competing forthe contract to provide a floating production, storage and offloading vessel for Limbayong, as the development is known.

The four are Yinson Holdings, MISC, Sabah International Petroleum (SIP) and Bumi Armada — the latter acting in partnership with compatriot MTC and India's Shapoorji Pallonji.

A lucrative lease and operate contract is up for grabs with a firm 12-year period, plus a pair of options each for three years and another for two years.

Sabah International was said to be in a favourable position to land the contract even though the other contenders were still in the race.

However, according to multiple market sources in Kuala Lumpur, the bidding exercise has been suspended.

Most of these sources expected a completely new invitation to tender to be issued soon, although some suggested that the suspension was more of a delay than a re-bid, allowing Petronas to address procedural issues. Petronas did not respond to a request from Upstream for an update on the Limbayong project, which the corporation thrust into the spotlight in June this year when it held a ceremony to mark a significant subsea equipment contract to TechnipFMC.

With TechnipFMC already working on its contract, and Petronas having previously extended the validity of the FPSO bids to the end of October, there were few suggestions that the project has actually been cancelled.

However, high-ranking Kuala Lumpur-based sources suggested a political clash of heads with the state of Sabah is having a direct impact on the FPSO contest.
Sabah state government has been pushing for greater participation and local content in projects in its own waters.
Issuing a new tender will require urgent discussions to take place on how to move forward, said sources. One unexpected solution that sources raised was that the nearby Bestari oil discovery, which was earmarked as a tie-in field to Limbayong, might host the FPSO instead of Limbayong.
The final investment decision for Bestari is due soon, and sources suggested that developing Bestari first could deliver a better economic outcome.

The Limbayong FPSO — as per the original tender specifications — was to offer production capacity of 60,000 barrels per day of liquids, including 40,000 bpd of
oil, plus about 180 million cubic feet per day of associated gas. Water injection facilities for up to 75,000 bpd would also be
included. The floater was expected to have nameplate storage capacity of 600,000 barrels of oil.
Meanwhile, contenders to supply the external turret for the Limbayong FPSO included Bluewater, SOFEC, National Oilwell
Varco and London Marine Consultants.
ayamxxx
post Oct 8 2021, 11:07 AM

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QUOTE(contestchris @ Oct 8 2021, 09:28 AM)
How would the HIGHER price of crude oil be the reason?

Shouldn't this actually be all the more reason a project should be fast tracked?

I've not heard of a project not going ahead because of price of crude oil (which lets be honest, can be up and down as it pleases).
*
for projects nowadays, companies need to allocate more for quarantine budgets. Hotel, swab, transport (flight price gile now especially klia-labuan/miri/bintulu), kapal quarantine which follow too many changes in sop, some need 14, some 21 days etc.
as always, most cost need to be absorbed by the Contractor. Client says not in contract
ZZMsia
post Oct 8 2021, 02:38 PM

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QUOTE(ZZMsia @ Oct 8 2021, 10:50 AM)
MALAYSIAN national oil company Petronas has suffered a setback on its first deep-water oilfield development in Malaysia, and in the process has unsettled the contracting sector.
Four Malaysian bidding groups are competing forthe contract to provide a floating production, storage and offloading vessel for Limbayong, as the development is known.

The four are Yinson Holdings, MISC, Sabah International Petroleum (SIP) and Bumi Armada — the latter acting in partnership with compatriot MTC and India's Shapoorji Pallonji.

A lucrative lease and operate contract is up for grabs with a firm 12-year period, plus a pair of options each for three years and another for two years.

Sabah International was said to be in a favourable position to land the contract even though the other contenders were still in the race.

However, according to multiple market sources in Kuala Lumpur, the bidding exercise has been suspended.

Most of these sources expected a completely new invitation to tender to be issued soon, although some suggested that the suspension was more of a delay than a re-bid, allowing Petronas to address procedural issues. Petronas did not respond to a request from Upstream for an update on the Limbayong project, which the corporation thrust into the spotlight in June this year when it held a ceremony to mark a significant subsea equipment contract to TechnipFMC.

With TechnipFMC already working on its contract, and Petronas having previously extended the validity of the FPSO bids to the end of October, there were few suggestions that the project has actually been cancelled.

However, high-ranking Kuala Lumpur-based sources suggested a political clash of heads with the state of Sabah is having a direct impact on the FPSO contest.
Sabah state government has been pushing for greater participation and local content in projects in its own waters.
Issuing a new tender will require urgent discussions to take place on how to move forward, said sources. One unexpected solution that sources raised was that the nearby Bestari oil discovery, which was earmarked as a tie-in field to Limbayong, might host the FPSO instead of Limbayong.
The final investment decision for Bestari is due soon, and sources suggested that developing Bestari first could deliver a better economic outcome.

The Limbayong FPSO — as per the original tender specifications — was to offer production capacity of 60,000 barrels per day of liquids, including 40,000 bpd of
oil, plus about 180 million cubic feet per day of associated gas. Water injection facilities for up to 75,000 bpd would also be
included. The floater was expected to have nameplate storage capacity of 600,000 barrels of oil.
Meanwhile, contenders to supply the external turret for the Limbayong FPSO included Bluewater, SOFEC, National Oilwell
Varco and London Marine Consultants.
*
CONTINUE

Subsea scope
In June 2021, Petronas staged a ceremony to award the Limbayong subsea production system and subsea umbilical, riser and flowline contract to TechnipFMC.

The workscope was to cover 10 deep-water wells tied back to the FPSO, the SURF package, plus a gas-export pipeline of about 60 kilometres in length to the existing shallow-water Kinabalu non-associated gas platform, KNGP-B.

The project was to be executed from the contractor’s Kuala Lumpur office and would leverage its local manufacturing plants in Malaysia.

Proven and probable reserves at the Limbayong field are estimated at 139 million barrels of oil and 784 billion cubic feet of non-associated gas, according to sources.

Water depths at the field, which straddles blocks G, J and R offshore the state of Sabah, range to in excess of 1200 metres.

Petronas is understood to operate Limbayong with a 90% interest with E&P Malaysian Ventures on 10%
Stamp
post Oct 8 2021, 05:02 PM

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It's getting more challenging and difficult to do oil & gas business in Malaysia nowadays with the increase of domestic political interferences and nonsense.

I hope the foreign players are not put off with the difficulties they face now.

There must be a sensible and right balance between ensuring local interests are protected and ensuring foreign companies' investments in the country are rightfully rewarded.

We can't afford to finance oil & gas developments ourselves.

p/s It is now an open secret that Malaysian govt is anxious to keep foreign oil & gas players in the country i.e. in South East Asia, especially the Americans and the British, so that their govt will continue to keep a very close watch on SEA (in order to protect their home grown companies operating in Msia), and hence indirectly keep Chinese ambitions in SEA at bay.

Wisma Putra just summoned the Chinese Ambassador to Malaysia for the 2nd time this year, to express Malaysia's disgust over Chinese military incursions into Malaysian air space and waters.

This post has been edited by Stamp: Oct 8 2021, 05:12 PM
Rorschach85
post Oct 11 2021, 12:58 PM

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QUOTE(Stamp @ Oct 8 2021, 06:02 PM)
It's getting more challenging and difficult to do oil & gas business in Malaysia nowadays with the increase of domestic political interferences and nonsense.

I hope the foreign players are not put off with the difficulties they face now.

There must be a sensible and right balance between ensuring local interests are protected and ensuring foreign companies' investments in the country are rightfully rewarded.

We can't afford to finance oil & gas developments ourselves.

p/s It is now an open secret that Malaysian govt is anxious to keep foreign oil & gas players in the country i.e. in South East Asia, especially the Americans and the British, so that their govt will continue to keep a very close watch on SEA (in order to protect their home grown companies operating in Msia), and hence indirectly keep Chinese ambitions in SEA at bay.

Wisma Putra just summoned the Chinese Ambassador to Malaysia for the 2nd time this year, to express Malaysia's disgust over Chinese military incursions into Malaysian air space and waters.
*
Bidding for big jobs in the industry has always involved political interference since like donkey years?

ZZMsia
post Oct 12 2021, 01:16 PM

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anyone here with experience recruitment through MI SC?

As they seems to be always looking urgently for candidates but after submitting CV takes about 1month+ for a review of the CV.



Stamp
post Oct 12 2021, 04:04 PM

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QUOTE(ZZMsia @ Oct 12 2021, 01:16 PM)
anyone here with experience recruitment through MI SC?

As they seems to be always looking urgently for candidates but after submitting CV takes about 1month+ for a review of the CV.
*
the joke is that the company has MISCellaneous departments that render their organisation to work slow and steady! biggrin.gif
ZZMsia
post Oct 12 2021, 05:16 PM

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QUOTE(Stamp @ Oct 12 2021, 04:04 PM)
the joke is that the company has MISCellaneous departments that render their organisation to work slow and steady!  biggrin.gif
*
Seems to be the case.
Taking forever for "urgent" positions.

huhuh

Still hiring for theongoing project. its not for LBY


abcmsia P
post Oct 12 2021, 11:17 PM

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QUOTE(ZZMsia @ Oct 12 2021, 01:16 PM)
anyone here with experience recruitment through MI SC?

As they seems to be always looking urgently for candidates but after submitting CV takes about 1month+ for a review of the CV.
*
my feeling is that they are hiring more marine engineer... is it correct?

If so, is bcoz many marine engineer resign due to working more than 6 months due to covid.. not many engineer can withstand mentally at sea for too long time.
ZZMsia
post Oct 13 2021, 06:06 AM

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QUOTE(abcmsia @ Oct 12 2021, 11:17 PM)
my feeling is that they are hiring more marine engineer... is it correct?

If so, is bcoz many marine engineer resign due to working more than 6 months due to covid.. not many engineer can withstand mentally at sea for too long time.
*
Many different positions
Risk engineer also they are hiring.
Package manager for rotating

Mostly for ongoing mero project
ayamxxx
post Oct 13 2021, 08:32 AM

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QUOTE(Stamp @ Oct 12 2021, 04:04 PM)
the joke is that the company has MISCellaneous departments that render their organisation to work slow and steady!  biggrin.gif
*
Got one recruiter asking my cv for the Misc vacancy. Sent already, ask what the status, Recruiter said still no feedback from misc eventhough asking for urgent and possible to get less notice period

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