Almost everyday a msg comes to me.. oh contractor kan, harga minyak naik, untung untung...

Ermm nope, that is only for the operators.

Got contacts for metering engineer?

Heard Bekok C platform is on fire. Anyone can confirm whether this rumor is true ?

Consortium in frame for key Indonesian FPSO project

Indonesian operator Medco Energi is in negotiations with a contracting group to finalise an arrangement for a leased floating production, storage and offloading vessel for the Forel offshore project in Natuna Sea Block B, Indonesia.

Several market sources said a consortium of contractors, which includes Indonesia’s Hanochem Tiaka Samudra, Malaysia’s MTC Engineering and Indonesia's Cakra Bahana, is in negotiations with Medco about a potential final contract for the provision of an FPSO.

Sources said the proposal by the favoured consortium is to deploy an existing available FPSO which is moored in Indonesia.

Medco is offering a multi-year charter, and had encouraged contractors during the tendering process to be mindful of offering competitive charter rates, Jakarta-based sources said.

The favoured consortium was among a number of competitors for the Forel FPSO contract.

Some other key players in the picture included Buana Lintas Lautan, Sillo Maritime, Radiant Utama Interinsco, Cakra Manunggal Semesta, Armada Bumi Pratiwi Lines, Pertamina International Shipping and Tuff Offshore Engineering, most of which combined in several bidding consortia.

This is Medco’s second attempt at securing an FPSO contractor after a previous attempt received a lukewarm response from floater suppliers.

Upstream requested a comment from Medco on the status of the Forel FPSO negotiations, but it was unable to comment.

The potential FPSO contractors Hanochem and MTC were also contacted; Hanochem did not respond, while MTC was unable to comment.

Medco has previously indicated it hopes the floater can be delivered within 18 months of the contract being awarded, and for the FPSO to have an Indonesian flag.

The development concept for Forel and the Bronang satellite field covers the leased FPSO but also includes two wellhead platforms, a 17-kilometre subsea pipeline between the two platforms, a subsea connection to the FPSO, and a separate flowline via a pipeline end manifold to the Belanak oil and gas field, also in Block B.

In late 2021, Indonesian contractor Meindo Elang Indah was leading the competition for the engineering, procurement, construction and installation of the two wellhead platforms and subsea pipeline.

In addition to Forel and Bronang, the operator is developing the Belida and Hiu satellite discoveries in Block B.

Execution of the Hiu and Belida extension projects is well under way, with contractor Timas Suplindo selected for a significant part of the workscope

Medco said in its nine month 2021 results last December that first gas from the Hiu field is expected in its second quarter of 2022; first gas from the Belida extension in its fourth quarter of 2022; and first oil from Forel and first gas from Bronang in its fourth quarter of 2023.

In the nine-month 2021 period ending 30 September 2021, the multi-field Block B complex produced 18,300 barrels of oil equivalent per day.

Block B consists of 11 offshore platforms, four producing subsea fields and a large FPSO on the Belanak field.

Medco has a 40% operated interest in Block B and is partnered by two Indonesian companies holding 60%.

Medco’s chief executive Roberto Lorato in December said: “Commodity prices remain volatile, but still at a comfortable level, and domestic gas demand continues to recover after Covid-induced economic lockdowns.

“The proposed acquisition of ConocoPhillips’ Indonesian assets will strengthen Medco Energi’s position in Southeast Asia, provide synergies with our Sumatra operations and further support our climate change strategy,” Lorato added.

This post has been edited by contestchris: Mar 7 2022, 04:22 PM

1) MTC once again in the thick of the action, after submitting sole bid for Limbayong FPSO.

2) "Sources said the proposal by the favoured consortium is to deploy an existing available FPSO which is moored in Indonesia". Is this in reference to Claire? Will Claire be able to be deployed here? Any other potential FPSO's cold/warm stacked in Indonesia presently?

This post has been edited by contestchris: Mar 7 2022, 04:22 PM

Should be no issue for Claire.. However, in term of OPEX, the maintenance cost for turret moored FPSO is higher than spread mooring FPSO.

Brent crude at USD123!

Geez.

whoever just started producing oil at their field, feel soooo bless..

Especially in Brazil.. Seem like Petrobras made a good investment, put a purchase order during downtime, and production during oil in demand..

But in Malaysia, Limbayxxg FPSO already been rebid few time since 3 years ago..

This post has been edited by abgkik: Mar 9 2022, 02:22 PM

Limbayong multiple rebids show the quality of the people running the show.

This post has been edited by Stamp: Mar 9 2022, 02:38 PM

Yes, exactly..
Imagine if run project in 2018 2019 ...
now will be up and running.

For Malaysia, we have Bokor and Pegaga (upcoming gas)

Sweet profit

What's the prospect for someone with a T&I background here in Msia?

I hear work at Sapura's Lumut yard has virtually ground to a halt with delays a'plenty...

I was involved in Talisman's (later REPSOL) Kinabalu Redevelopment project where we installed a new wellhead platform bridge-linked to an existing platform, in order to increase oil production.

The new platform came to production in 2017.

The new owner, Hibiscus Petroleum (which bought REPSOL upstream oil&gas assets in Malaysia recently), must be smiling ear to ear now with the current crude price, probably 80% higher than the price used during economic evaluation.

And Kinabalu oil comes with a USD5 premium on top of the crude market price!

HESS has 3 wellhead platforms, pipelines and subsea structures being build by Sapura now.

there are prospects for T&I ppl in Msia.

but now the competition is still tough since there are too many in the market (flooded with those who used to work overseas but had to return home after being laid off during the low oil price years).

This post has been edited by Stamp: Mar 10 2022, 01:42 PM

Not as good as it used to be.

1. The biggest T&I company that's from Malaysia is doing very badly currently.
2. Saipem, which had a small office in Malaysia mainly focus on T&I and offshore bids closed their office in October few month back.

You may try:

1. Mcdermott (KL office - executing few EPCI projects currently)
2. TechnipFMC (Subsea pipeline - flexible and production system) - Limbayong project.
3. Subsea 7 (Subsea pipeline - rigid).
4. Technip Energies (KL office for EPCI platform / jackets).

With the oil price increase currently, would the salary increment be good this year?

And also Pegaga Condensate MRU & Gas MRU as well.

I think it’s a bonus to staff if there’s a salary increment this year.

But oil&gas industry is in recovery mode.

there is a slight dip in oil prices. But the reluctance to buy Russian might trigger supply shortage says some news piece. I wonder if any other counterpart can fill the supply.

Then again its just simply stupid from mat salleh. Dont have the guts to face Russia outright but doing all silly stuff penalising the people (Russian included). Probably ada berani if it was the middle east or african countries saja kot.