If it's a bidding job, then very certainly something from Angola. That's their main focus now and a region where they already have prior experience.

Either Total's Cameia, Eni's Agogo or BP's Block 18. But the focus is on Total and Eni bids

.

This post has been edited by contestchris: Apr 11 2022, 09:12 AM

Am hearing several high-ranking Sapura officials will be departing in the coming weeks and that staffing levels will be run down to a skeleton team.

Last year, nine Petronas employees were sacked following an internal probe into corruption that related to maintenance and service contracts between Petronas’ upstream subsidiary and a long-standing contractor, reported the Edge Markets on 28 November 2021. The Petronas employees were found to be receiving illicit cash payments or paid holidays to exotic locations from the contractors.

Following that corruption case, Petronas chief executive Tengku Taufik gave a stern warning to his staff against corrupt practises. In an internal video to employees Taufik touched on the “extremely worrying issue” of corruption, saying that integrity cases “remains elevated” at the national oil company, reported the Edge.

In the latest case, Petronas said in a statement on Saturday, that it will fully cooperate with the Malaysian Anti-Corruption Commission in its investigations. The state-backed oil company said it “staunchly condemns all forms of misconduct among its employees. To this end, Petronas has been working closely with the MACC since 2012 and will continue this collaboration to stamp out corruption within the group.”

Petronas “has zero tolerance against corruption and will continue to leverage its internal mechanisms to prevent corrupt behaviour. Its code of conduct and business ethics expressly prohibits improper solicitation, bribery and other misconduct by employees, directors and third parties performing work or services for or on behalf of the companies in the group,” said the national oil and gas company.

https://www.energyvoice.com/oilandgas/asia/...ion-suspicions/

Guess that if they really want to reset again the company, they cannot have the same people that cause the problem from 'legacy contracts' to remain at the company. CEO stated many times about shortfall on tender bid, so those involved with the tender commercial & proposal would be scrutinized, with many high ranking officer would face the firing squad.

This post has been edited by BS8110: Apr 12 2022, 09:58 AM

MTC Secures Third FPSO Project with FPSO Forel

The pandemic has put a halt into much of the industry's progress, and MTC's was no exception to this. However, it seems that the tides are finally changing.

MTC has successfully secured the bid for its third FPSO development and first FPSO project outside of Malaysia - FPSO Forel for Forel Field in South Natuna Block B, Indonesia. The project is contracted to a Consortium between MTC Engineering, PT Hanochem Tiaka Samudera and PT Cakra Bahana. After a lengthy bid throughout the majority of last year, it was clear that the Consortium will be the contractor of choice for client Medco E&P.

Effective 17th March 2022, the Consortium will begin to work on the FPSO for delivery within 21 months. It will be chartered to the client and operated by the Consortium for 5 years with option to extend. The production capacity for the FPSO will be designed for 10,000 bopd and 43 MMscfd.

Currently, our Project Management Team personnel for FPSO Forel is stationed in Jakarta with the Consortium partners. The Kick-Off Meeting (KOM) was held last Thursday to officialize the project.

MTC Engineering has been specializing in FPSOs since its inception, securing consultancy works for operators around the world and even developing two of its own FPSOs for Malaysian waters - Nautica Muar and MTC Ledang. MTC's engineering capabilities and specialty in the field has been proven time and time again with cost-effective, fast-track and all-encompassing solutions. MTC was the only privately held company in the world to own an FPSO, and now will add a third to the list. The successful delivery of FPSO Forel will be further proof of the accolades and milestones the company has achieved throughout its 12 years.

Concurrently, MTC and partner S.P. Engineering Services is the sole bidder for Petronas Carigali's Limbayong FPSO project, its first deepwater development off the coast of Sabah.

#FPSO #Forel #MTC #Indonesia #Natuna

https://www.facebook.com/157292644479801/po...61957840679931/

Giler lama tak masuk LYN ..... I see the regulars are still around. Selamat berpuasa for my muslim friends!

Congrats to MTC. Given that there are 21 months to prepare the FPSO, I wonder if it'll be a conversion or refurbished (if so, which?) vessel.

Long time no see. Still in middle east?

Was in Middle East until 2014. Then went to India (yes I know ...) for a year and have been back in Malaysia since 2015

IT seems that airline caterer Brahim’s Holdings Bhd will not be alone to greet the end of its lifespan as a listed entity.

Following hard on its heels is Scomi Group Bhd whose days are numbered after Bursa Malaysia Securities Bhd rejected its request for more time to submit its regularisation plan after the global service provider in the oil & gas (O&G) and transport solutions industries fell into Practice Note (PN17) status in December 2019.

This came about as Scomi Group’s shareholders’ equity spread was less than 25% of its issued share capital with its equity having dropped below RM40 mil based on its financial results for the quarter ended June 30, 2019.

Scomi Group is now at risk of being delisted from the Main Market on April 22 unless it is able to submit its appeal by April 18 to prevent its securities from being removed from the local bourse.

“Upon submission of the company’s appeal and pending Bursa Securities’ decision, the delisting of the securities of the company from the Official List of Bursa Securities will be deferred,” Scomi Group noted in a Bursa Malaysia filing yesterday (April 11).

“However, Bursa Securities shall proceed to suspend the trading of the company’s securities on April 20, 2022,” it said.

At the time of writing Scomi Group nosedived 2 sen or 80% to 0.5 sen with 58.49 million shares traded thus valuing the company at a mere RM6 mil.

Coincidence or otherwise, the sound of the death knell on both Brahim’s and Scomi Group spells a blow to two listed entities with family link to Malaysia’s fifth Prime Minister Tun Abdullah Ahmad Badawi (2003-2009) – Brahim’s was founded by Abdullah’s brother Datuk Seri Datuk Seri Ibrahim Ahmad Badawi while Scomi Group which was listed on May 13, 2003 was controlled by businessman son Tan Sri Kamaludin Abdullah.

Recall that Kamaludin and his partner Shah Hakim @ Shahzanim Zain (who is currently the CEO) controlled 44.32% of Scomi Group via their vehicles Kaspadu Sdn Bhd and Onstream Marine Sdn Bhd. Abdullah became PM on end-October 2003, five months after Scomi Group’s listing.

In a cover story in The Edge Weekly (Feb 11-Feb 17, 2019) entitled “Scomi’s Colourful Past”, writer Jose Barrock made the following historical observation on Scomi Group:

“Just a few years before that, the company had been known as Subang Commercial Omnibus & Motor Industries Sdn Bhd and was largely in the business of buses, but the emergence of Kamaluddin and Shah Hakim as shareholders in 2000 paved the way for much bigger things, specifically, forays into the oil and gas sector.

“At the time, a head of research of a Singapore-based group said, ‘It (SGB) can’t go wrong, future PM’s son’s company, oil and gas some more … can close eyes and buy.’

“In July 2003, two months after its flotation exercise, Scomi Group’s stock hit a record high of RM16 per share and it was trading at a price-earnings multiple of almost 70 times in anticipation of stronger oil prices. This, in turn, spurred demand for Scomi Group’s services which included supplying drilling fluids, a substance used to reduce friction in exploring for oil.”

Well, needless to say, Scomi Group – like many other listed entities that were ultimately delisted in the past – went through numerous upheavals which left it in the state that it is in today.

At the end of the day, suffice to say that crony capitalism which leverages collusion between a business class and the political class will never be able to outlive the test of time. – April 12, 2022

https://focusmalaysia.my/scomi-to-be-2nd-ab...-after-brahims/

Selamat berpuasa!!

Nowadays Brazil Oil & Gas is very happening.. Do you have any plan to work at Brazil? Petronas also have won Sepia Field at Brazil.

No plan to venture overseas anymore. Parents are aging and I'm glad I was in country during Covid .... a lot of my friends were stuck overseas and were unable to return home to visit their families.

selamat berpuasa bro. can see bits and bobs of your activity in linkedin hehe

https://www.rigzone.com/news/saipem_crane_v...168656-article/

Did anyone see this video?

Is there any news on the Lang Lebah FEED contract? Upstream had reported an award coming soon.

Heard by mid may.
Wait for the announcement.
Two tenders pending awards.

S..... offer optional sabbatical leave to their staff.
Salary 3 months 40 percent of basic salary and next 3 months 20 percent of basic salary.
.

This project on tender for more than 1 year already..

If I'm not mistaken the lifting wire failed during testing cause the tilt..

fuhhh. bad news..