Nik Hamdan resigns as Barakah president/CEO

Barakah Offshore Petroleum Bhd's founder Nik Hamdan Daud has resigned from his posts as group president and chief executive officer with immediate effect.The company, in a filing with Bursa Malaysia yesterday, said Nik Hamdan had left the company due to "personal reasons". 

Nik Hamdan is the single largest shareholder in Barakah with a 33% stake. 

To take over his role, the company has appointed Abdul Rahim Awang as acting group CEO with immediate effect until the appointment of a new group president and CEO is made. 

Barakah is currently in the midst of restructuring its debts. 

The company and its subsidiaries recorded total liabilities of RM335.6mil in its fourth quarter ended Dec 31, 2018. 

"The company is still in the midst of formulating a debt-restructuring scheme to settle the group's debt. At this juncture, the actual amount of debt to be restructured has yet to be determined," it said in a statement on March 18. 

On March 6, the High Court of Malaya granted that the restraining order be extended for 90 days from Jan 14. 

The restraining order was applied as one of the proactive measures taken by Barakah to manage the debt levels of the company and its wholly owned subsidiary – PBJV Group Sdn Bhd.

Sarawak O&G players set to gain under Petros

Sarawak oil and gas players are set to benefit as the state transitions into the new administration of its oil resources under Petroleum Sarawak Bhd (Petros), with plans to increase local participation in the industry.

UOB Kay Hian Research singled out Serba Dinamik Holdings Bhd as among the major beneficiaries, aside from other Sarawak-listed companies like Dayang Enterprise Holdings Bhd, Petra Energy, KKB Engineering and Brooke Dockyard. 

The research house recently attended the Sarawak oil & gas seminar and exhibition, said the issues covered during the conference included Petros' plans, and matters relating to vendor development and reserves data. 

By end-2019, it said, Petros would take firm action to implement the state's mandate, particularly in relation to revenue sharing and local participation. 

"We believe this is necessary to kick start delayed greenfield projects," it said in a note. 

The research house, which maintained its "market weight" stance on the sector, said Petros CEO Sauu Kakok clarified during the seminar that their key targets included driving more share of revenue from Sarawak O&G resources and boosting participation of Sarawakians. Petros, it said, was actively working towards meeting the "hard target timeline" of Dec 31 for measures including setting up governance policies. 

"This implies that the one-year grace period for Petronas, Putrajaya (and its key advisors), and Sarawak state will conclude. 

"We understand further delays are unlikely as all stakeholders are working hard to reach firm agreements," the research house said. 

Petros, which was set up in August 2017, is in charge of regulating upstream production, governed under the oil mining ordinance 1958. It is also regulating the gas distribution governed under the distribution of gas ordinance.

A technical session during the seminar revealed that the Sarawak basin has 23% of Malaysia's oil and 51% of natural gas.

For the overall sector, UOB Kay Hian said many O&G stocks remained "too locally dependent".

It noted that Petroliam Nasional Bhd (Petronas) would focus on overseas upstream capex, while domestic upstream capex is set to improve from RM12bil in 2018 to RM15bil in 2019.

"We understand local activity levels have generally increased, especially for maintenance/brownfield works, with maintenance, construction and modification contractors like Dayang Enterprise and Petra Energy guiding high activity levels in 2019 although rates remain low," it said.

The research house said it favoured internationally competitive companies, like engineering, procurement, construction and commissioning and storage operator Dialog Group Bhd and Yinson Holdings.

Video viral bukan kebakaran kilang di Gebeng

Jabatan Bomba dan Penyelamat Malaysia (JBPM) Pahang menafikan dakwaan berlaku kebakaran sebuah kilang di Taman Perindustrian Malaysia China Kuantan (MCKIP) Gebeng di sini, seperti rakaman video yang tersebar di media sosial.

Kebakaran itu sebaliknya disebabkan oleh pembakaran lebihan gas yang terhasil daripada proses pembakaran arang batu.

Pengarah JBPM negeri, Nor Hisham Mohammad, berkata insiden berkenaan bukan membabitkan kebakaran kilang, Allience Steel (M) Sdn Bhd seperti yang tersebar.

Katanya, sepasukan anggota dari Balai Bomba dan Penyelamat Gebeng bersama empat pegawai penyiasat kebakaran ke lokasi pada jam 11.45 malam tadi sebelum mendapati kejadian itu berlaku di blok relau pembakaran arang batu (Coal Coking Plant).

"Bukan kebakaran kilang seperti yang didakwa. Sebaliknya, kejadian jam 9.40 malam itu tercetus selepas berlaku gangguan bekalan elektrik di dalam kawasan kilang itu," katanya dalam satu kenyataan, hari ini.

Beliau berkata, ketika gangguan bekalan elektrik, kipas penyedut (extraction fan) di blok relau pembakaran arang batu itu terhenti, menyebabkan sistem keselamatan relau berfungsi secara automatik dengan melepaskan lebihan gas yang dihasilkan melalui cerobong pelepasan haba bagi mengelakkan lebihan tekanan dalam relau.

"Berikutan suhu yang tinggi di dalam relau, gas ini terbakar apabila dilepaskan di samping mengelak berlaku pencemaran udara. Semua lapan cerobong pelepasan haba berfungsi sebagaimana direkabentuk dan membakar gas yang terhasil.

"Video dan gambar kebakaran yang tersebar adalah imej pembakaran gas terbabit. Kita sudah menyiasat kejadian ini dan memanggil pihak syarikat untuk memberikan penjelasan lanjut," katanya.

Kerajaan tiada rancangan teruskan projek paip TSGP Sabah

Perdana Menteri Dr Mahathir Mohamad tetap berpegang kepada keputusan membatalkan projek Saluran Gas Paip Trans-Sabah (TSGP) bernilai RM4.06 bilion yang disokong oleh negara China.

Beliau berkata demikian dalam sidang media di Putrajaya hari ini.

Mahathir pada Ogos tahun lepas mengumumkan dua projek saluran paip - TGSP dan projek Saluran Paip Pelbagai Produk (MPP) di Melaka - dibatalkan bersama dengan projek Laluan Rel Pantai Timur (ECRL).

Bagi produk ECRL kerajaan bagaimanapun merunding semula dengan syarikat China yang mengambil masa selama 10 bulan sebelum diteruskan dengan kos lebih murah.

Difahamkan usaha yang sama tidak dilakukan untuk projek TSGP.

Projek itu diuruskan oleh Suria Strategic Energy Resources (SSER) - anak syarikat milik penuh Kementerian Kewangan yang dbentuk khusus bagi melibatkan diri dalam industri paip dan saliran.

[Video] Kebakaran di Pengerang Integrated Complex

Sapura Energy bags contracts worth RM1.3 bil

Sapura Energy Bhd has bagged five new engineering, construction and drilling contracts worth RM1.3 billion.

In a filing with Bursa Malaysia, the company said the new wins included a submarine rescue service contract for the Royal Australian Navy. 

The group has also marked a new entry into Egypt with a contract for works in the Gulf of Suez, through a subcontract for new subsea pipelines secured by its subsidiary, Sapura Offshore Sdn Bhd, from Pan Marine Petroleum Services Company.

"The contracts demonstrate Sapura Energy's continued pursuit to deepen its presence in existing core markets, breaking into new markets and expanding its scope of services.

"The growing order book is expected to increase asset utilisation for the group and contribute to improving its financial performance," it said.

Sapura Energy also said Sapura Drilling Asia Sdn Bhd had secured two new contracts — a provision job for ExxonMobil Exploration and Production Malaysia Inc's tender assist drilling rig, Sapura T-9, as well as the extension of a contract by Petronas Carigali Sdn Bhd for the provision of semi tender assisted drilling rig, Sapura Berani.

The list of contracts also include Sapura Offshore's joint-venture with PT Timas Suplindo on a contract for engineering, procurement, construction and installation works of two 16-inch diameter offshore rigid pipelines from Indonesia's Jangkrik facility to a future manifold near the Merakes drilling centres.

Sapura Energy currently has 10 key operating centres around the globe. 

Two hurt in massive blast, fire at Petronas's Rapid in Pengerang

A massive explosion rocked Petronas's Refinery and Petrochemical Integrated Development (Rapid) at the Pengerang Integrated Complex near here, at 1.25am today.

The blast was followed by a huge blaze which could be seen kilometres away, Bernama reported.

It is understood that two Malaysian workers were injured in the incident. The extent of their injuries has yet to be established.

Videos and images of the ensuing fire at the complex have gone viral on social media, with several local netizens claiming to have felt tremors as a result of the explosion.

According to various reports, the fire was doused by about 2.30am.According to Bernama, checks at the complex at 6.30am today found no trace of the fire and that the plant was operating as usual. Buses were seen ferrying workers to the site, and lorries were heading in and out of the complex as per normal.

In confirming the incident, Petronas said its Emergency and Fire Response Team, which was immediately deployed to the scene, managed to the contain the fire within 30 minutes.

"The situation is under control and all the relevant authorities have been informed (of the incident).

"We will provide additional information in due course, as the investigation is still being carried out," it said.

MHB joint venture gets 5-year service contract from Petronas

Malaysia Marine and Heavy Engineering Holdings Bhd's (MHB) wholly-owned unit has bagged a service agreement contract from Petroliam Nasional Bhd (Petronas).

In a statement today, it said Malaysia Marine and Heavy Engineering Sdn Bhd, in a joint venture agreement with Hiap Seng Engineering Ltd, was awarded a master service agreement that covers integrated plant turnaround works and daily maintenance work on mechanical static for Petronas' plants, across the group.

The agreement is valid for a period of five years, and Petronas has an option to extend it. No contract value was mentioned in the statement.

"This long-term project award is aligned with our strategy to venture into new businesses that provides recurring orders in ensuring MHB's growth sustainability. 

We are committed to execute the work efficiently, without compromising on safety and quality," said the group's managing director and chief executive officer, Wan Mashitah Wan Abdullah Sani.

Airbus Helicopters makes Malaysia Southeast Asia MRO, training hub

Airbus Helicopters, the world's leading helicopter manufacturer, is making Malaysia its maintenance, repair and overhaul (MRO) hub in Southeast Asia, following the integration of its Subang facility with its network of MRO facilities in the region.

Chief executive officer (CEO) Bruno Even said the Subang facility was previously offering only MRO services to domestic clients and supported only selected types of helicopters.

He said the type of helicopters supported by the expanded centre will include a wide range of civil and military rotorcraft such as the AS365, H120, H130, H145, H155, H225, H225M and AS555SN Fennec for all customers regionally.

He said given the helicopter industry's positive global prospects in the next 20 years, with a worldwide demand for up to 22,000 helicopters and Asia Pacific accounting for 35% of the demand, Airbus Helicopters planned to position itself in a strategic market like Malaysia.

"The main driver of the whole helicopter market will be Asia and that's important to invest in the capability here and capture the bulk of this growth, as well as to provide the right level of service.

"This is why we consider Malaysia as a key centre in Asia. Airbus have succeeded in developing a strong technical base and competency here, and we want to leverage on it," he told Bernama and the New Straits Times in an exclusive interview here today.

Even is on his maiden visit as CEO to Kuala Lumpur.

With about 50% of the market share in Malaysia and over 20% in Asia Pacific, Airbus Helicopter plans to further expand their market.

The integration of the Subang facility with its MRO network was part of the Airbus Helicopters' commitment to expand its footprint in Malaysia, and offers more products and services to customers around the world.

The facility was also expanded to include the opening of a new helicopter completion and delivery centre, as well as the addition of second flight crew training simulator for the AS365 Dauphin helicopter to the existing H225 full flight simulator.

Airbus Malaysia head of country Raymond Lim said helicopters in the region will be delivered from the new centre in Subang, which is currently at the final stages of completion, pending certification from the Civil Aviation Authority of Malaysia (CAAM).

He expects the new delivery centre, which has the capacity to deliver up to 20 helicopters annually, to be certified by CAAM by month-end.

"We are expecting (to deliver) between 10 to 12 (helicopters) for 2019," Lim added.

Meanwhile, Even said Malaysia is the only country outside of Europe that has a flight simulator for the medium-weight multipurpose twin-engine helicopter AS365 Dauphin.

He said Airbus Helicopters' customers in the military, parapublic and civil sectors will come to Subang for training and the United Arab Emirates Navy have started using the simulator for training since it began operations on April 1

Icon Offshore bags contract from Petronas Carigali

Icon Offshore Bhd's wholly owned subsidiary Icon Offshore Group Sdn Bhd (IOGSB) has secured an RM8 million contract from Petronas Carigali Sdn Bhd for the provision of straight supply vessel.

Icon Offshore, in a filing with Bursa Malaysia today, said the commencement date for the work order, for its Tanjung Pinang 2 vessel, will commence on March 7, 2019 for a period of 180 days with an extension option of 180 days.

In a separate filing, Icon Offshore said three Petroleum Arrangement Contractors (PACs) had also collectively awarded five contracts for the provision of offshore support vessels for PACs' Production Operations via five letters of award, all dated early September 2018.

Icon Offshore said it would be on a call out basis valid for a period of three years with an extension option of one year plus one year.

The company said the contracts are expected to contribute positively to the earnings, order book and net assets of the group for the financial year ending December 31, 2019 and beyond.

In June 2018, Icon Offshore announced that IOGSB, secured oil and gas (O&G) related contracts worth RM275 million in cumulative value.

One of the contracts is to provide offshore support vessels to O&G companies to support their production operations in Malaysian waters.

The contract valued at RM169 million was for a primary period of three years with an extension option of up to two years of one year each, it said in a filing to Bursa Malaysia.

The other job worth RM106 million was to provide two platform supply vessels to ExxonMobil Exploration and Production Malaysia Inc for its production operations, the company said.

The contract has two optional extension periods.

Alam Maritim secures offshore pipeline project from Vestigo

Alam Maritim Resources Bhd has secured a pipeline contract for the Tembikai Non Associated Gas (TNAG) development worth US$59 million (RM240.76 million) from Vestigo Petroleum Sdn Bhd.

The TNAG pipeline system will be installed from the new TNAG unmanned wellhead platform via a 60km, 12-inch pipeline and fibre optic control cable, the support service provider noted in an exchange filing yesterday.

The rigid pipeline will be the first in offshore Malaysia installed using mechanical connectors — specifically, the NOV Tuboscope Zap-Lok connection — and tied to existing processing facilities on the Berantai FPSO (floating, production, storage and offloading vessel) and the wellhead platform with flexible risers connected to the rigid pipeline with diverless connections.

The contract commenced on March 5, 2019, and is targeted for completion in the fourth quarter of the year, Alam Maritim's filing stated.

Petronas second floating LNG facility ready by 2020

Petroliam Nasional Bhd or Petronas expects to have its second floating liquefied natural gas (LNG) facility in Malaysia ready by the first quarter of next year, its chief executive Wan Zulkiflee told the LNG2019 conference in Shanghai on Tuesday.

Malaysia had said in October last year that the facility would be operational by July 2020.

Petronas' first floating LNG (PFLNG) Satu is now moored in the Kebabangan cluster field, some 90 km (56 miles) northwest of the Sabah state capital city of Kota Kinabalu, the company had said last month. 

KPOC files RM125m claim against MMHE

Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) has received a notice of arbitration from Kebabangan Petroleum Operating Company Sdn Bhd (KPOC) for alleged breach of contract and estimated losses of RM125.1 million.

MMHE received the notice dated March 13 via its solicitors on March 14.

The notice of arbitration is in relation to claims arising from a contract for the fabrication of Kebabangan (KBB) Topsides between KPOC and Sime Darby Engineering Sdn Bhd and a novation agreement between KPOC, Sime Darby Engineering and MMHE.

According to MHB, MMHE was responsible to carry out and complete certain works for KPOC, including to construct, engineer, procure, fabricate, inspect, test and pre-commission, load-out and sea-fastening of the KBB Topsides and associated appurtenances.

MHB said the works were completed in June 2014. Note that the KBB field is located about 135km NW of Kimanis, Sabah. The KBB platform was developed as a hub for development of deepwater oil and gas assets in the North Sabah area.

In its notice of arbitration, KPOC claims that MMHE was and is in breach of the express and/or implied terms of the contracts in respect of the supply of certain valves.

"KPOC has included an indicative amount of its alleged loss as part of the notice of arbitration, at about RM125.1 million, and has claimed that it continues to allegedly suffer losses," the company said.

It said that MMHE will vigorously defend the claims made by KPOC and is exploring its options to pursue a counterclaim against KPOC.

"Apart from the arbitration proceeding, MMHE reserves its right to pursue any other legal actions as may be permitted under the Malaysian laws, including, if appropriate, to seek indemnity from the ultimate supplier of the said valves," it added.

The financial impact of the arbitration initiated by KPOC on the group is dependent on the outcome, with expected loss, if any, of about RM125.1 million or more. However, it does not expect any operational impact to arise from the claim.

Murphy Oil exits Malaysia after two decades

Murphy Oil Corp is exiting Malaysia after two decades of operations, with the divestment of its Malaysian oil and gas assets in an all-cash transaction worth US$2.127 billion (RM8.62 billion).

The transaction value has yet to include an up to US$100 million (RM405.32 million) bonus payment contingent upon certain future exploratory drilling results prior to October 2020, the group said in a statement.

Murphy said its subsidiaries — Murphy Sabah Oil Co Ltd and Murphy Sarawak Oil Co Ltd — will be sold to Thailand's PTT Exploration and Production Public Company Ltd (PTTEP) by the end of second quarter of this year.

It said its exit from Malaysia simplifies the company and enables it to enhance focus on its Western hemisphere assets.

Murphy said it will allocate proceeds from the transaction to advance "strategic priorities", including returning cash to shareholders and reducing debt.

"Under the terms of the transaction, Murphy will exit the country of Malaysia. Beginning with the first quarter 2019 earnings release, the Malaysian operations will be reported as a 'discontinued operation' and classified as 'held for sale' for financial reporting purposes.

"After 20 years of successful operations in Malaysia, I am pleased to announce this all-cash transaction benefiting our shareholders by fully monetizing our proved and probable reserves. The transaction will provide us with greater financial flexibility and allow us to continue returning cash to our shareholders through share repurchases," Murphy president and chief executive officer Roger W Jenkins said in a statement. 

"I would like to thank our long-term partners in Malaysia, Petronas, Petronas Carigali and Pertamina. Most importantly, I would like to thank our committed Malaysian staff for their hard work and endless dedication to our company and we look forward to their successful transition to PTTEP," Jenkins added.

According to Murphy, proved reserves net to Murphy at year-end 2018 were 816 million barrels of oil equivalent (Mmboe), of which 16% or 129 Mmboe were attributable to Malaysia. And of the 129 Mmboe of proved reserves, 70 Mmboe are characterized as proved undeveloped.

Suspek pencemar Sg. Kim Kim Pasir Gudang dijangka didakwa esok

Pemilik syarikat tayar kitar semula, antara tiga suspek ditahan Isnin lalu, yang dipercayai membuang sisa toksik ke Sungai Kim Kim baru-baru ini, dijangka didakwa di mahkamah seawalnya esok.

Menteri Tenaga, Sains, Teknologi, Alam Sekitar dan Perubahan Iklim (MESTECC), Yeo Bee Yin berkata, kertas siasatan telahpun siap dan dihantar ke pejabat Timbalan Pendakwa Raya pagi tadi untuk mendapatkan penilaian dan pertimbangan untuk mendakwa.

"(Dan) kita harap dapat dakwa (suspek) esok di mahkamah. Jika sabit kesalahan, dia akan dipenjara maksimum lima tahun dan juga denda RM500,000 di bawah Seksyen 34B Akta Kualiti Alam Sekeliling 1974," katanya kepada pemberita di Menara Aqabah, Majlis Perbandaran Pasir Gudang (MPPG) di sini, hari ini.

Beliau juga telah menghubungi Peguam Negara, Tommy Thomas, mengenai kemungkinan mengenakan beberapa tuduhan terhadap suspek memandangkan kesalahan dilakukan adalah serius dan hukuman setakat ini tidak mencukupi.

"Memandangkan Jabatan Alam Sekitar (JAS) sudah siap siasatan, kita akan dakwa dahulu tetapi ia tidak dihadkan kepada undang-undang ini sahaja, dia boleh didakwa di atas Kanun Keseksaan dan mungkin akta lain," katanya.

Yeo berkata, berdasarkan keputusan analisis terhadap empat sampel diambil JAS, pihaknya mendapati terdapat pelarut organik benzene, toulena, xilena dan ethilbenzena serta D-Limonina. Pelarut D-Limonina digunakan untuk proses pirolysis tayar.

Berdasarkan analisis berkenaan, pihaknya telah mengenal pasti pemilik kilang haram itu sebagai suspek utama.

Ketika ditanya sejauh mana keluasan kawasan yang terjejas akibat pencemaran itu, Yeo berkata, pihaknya perlu memastikan punca pencemaran merebak terlebih dahulu.

"Saya fikir terdapat beberapa sebab dan faktor yang menyebabkan ia merebak, mungkin disebabkan oleh hujan pada 11 Mac," katanya.

Ditanya sama ada pencemaran itu telah dikawal, beliau berkata: "Kami mahu mengetahui keluasan kawasan (pencemaran). Saya akan menghadiri mesyuarat selepas ini, kami mahu mengetahuinya dan di mana sebenarnya (pencemaran) dan bagaimana mahu mengawalnya," katanya.

Yeo berkata, yang penting sekarang ialah kerja pembersihan sungai berkenaan (di bawah Kerajaan Negeri) secepat mungkin bagi mengekang pencemaran dari terus berlaku.

Sementara itu, JAS juga menyediakan serta memasang pengesan gas di ketinggian berbeza sekitar kawasan Pasir Gudang untuk memantau kualiti udara dan kandungan kimia.

JAS turut mengenal pasti 252 kilang di Pasir Gudang yang memproses bahan kimia.

"Kita akan gerakkan sumber seluruh negara untuk menyiasat setiap kilang selepas krisis ini. Sebab sekarang tumpuan utama, kita sekat dulu impak ini (kesan pencemaran) dan kemudian, kita akan siasat kilang lain," katanya.

Melaka teroka bidang minyak dan gas

Kerajaan Melaka berkongsi kepakaran dengan pihak swasta bagi meneroka bidang baharu membabitkan sektor cari gali minyak dan gas di negeri ini.

Perkongsian pintar di antara Perbadanan Kemajuan Negeri Melaka (PKNM) menerusi anak syarikatnya, PKNM Energy Sdn Bhd dengan Dayang Enterprise Sdn Bhd dan Main Velocity Sdn Bhd itu dijangka mampu menjadikan sektor terbabit sebagai sumber pendapatan baharu, sekali gus dapat menjana ekonomi.

Ketua Menteri, Adly Zahari, berkata perkongsian kepakaran terbabit mampu memberi manfaat besar bukan saja kepada pembangunan ekonomi negeri, malah turut memenuhi keperluan dan kesejahteraan rakyat.

Beliau berkata, menerusi perjanjian itu, semua syarikat berkenaan akan berusaha mencari peluang baharu dengan meneroka setiap lokasi strategik di negeri ini yang mempunyai bahan api terbabit.

"Tempoh setahun sudah memadai untuk kita meneroka bidang ini dan sudah pasti hasilnya nanti akan memberi keuntungan kepada negeri serta rakyat keseluruhannya," katanya.

Beliau berkata demikian selepas menyaksikan majlis menandatangani memorandum persefahaman (MoU) tiga syarikat berkenaan di sini, hari ini.

PKNM Energy diwakili Ketua Pegawai Eksekutif PKNM, Ridhuan Affandi Abu Bakar; Dayang Enterprise diwakili Pengarah Urusannya, Datuk Tengku Yusof Tengku Ahmad, manakala Main Velocity pula diwakili Pengarahnya, Syarifah Fatin Amirah Syed Abdul Rahman.

Yang turut hadir, Setiausaha Kerajaan Negeri, Datuk Hasim Hasan dan Pegawai Kewangan Negeri, Datuk Hanafi Sakri.

Sementara itu, Ridhuan berkata, PKNM meluas dan mengembangkan lagi aktiviti perniagaan sedia ada dengan menceburi bidang minyak dan gas.

Katanya, usaha itu susulan terdapat banyak projek mega minyak dan gas di negeri ini seperti projek Diesel Euro Five oleh PETRONAS serta projek pengembangan loji jana kuasa eletrik oleh EDRA Energy.

"Dengan kepakaran yang ada pada Dayang Enterprise dan Main Velocity, hasrat untuk menceburi bidang minyak dan gas akan berjaya dilaksanakan, sekali gus dapat membuahkan hasil lebih baik serta menyumbang semula kepada pertumbuhan ekonomi negeri," katanya.

T7 Global bags job from Petronas and Vestigo

T7 Global Bhd has bagged two contracts, with the first to provide splash zone structural repair and maintenance to Petronas Carigali Sdn Bhd, and the second to provide manpower services to Vestigo Petroleum Sdn Bhd

The Petronas job was secured by its subsidiary, Tanjung Offshore Services Sdn Bhd (TOS), who received the letter of award on Dec 24, 2018. The deal is for two years beginning Jan 2, 2019, T7 Global said in a stock exchange filing today.

"The said contract is based on the unit rates as stipulated in the contract price schedule," it said. There is an option for TOS to extend the contract for one additional year.

Separately, TOS' subsidiary Fircroft Tanjung Sdn Bhd had received a letter of award from Vestigo on Oct 19, 2018 for an umbrella contract for the provision of manpower services.

The contract is also for two years, starting Oct 19, 2018, and comes with an option to extend for another one year, T7 Global said.

"The technical services and deliverables provided for this contract shall be delivered based on scope of work and duration stipulated in the contract documents and/or in each work order issued to Fircroft Tanjung," the group explained.

Meanwhile, Fircroft will obtain and maintain a valid license with Petroliam Nasional Bhd (Petronas) throughout the duration of the said contract, T7 Global said.

The contracts are expected to contribute positively towards the earnings and net assets per share of T7 Global for the financial year ending Dec 31, 2019 (FY19), it said.

Penolong Pengarah DOSH Johor didenda RM50,000 terima rasuah project RAPID

Seorang Penolong Pengarah Jabatan Keselamatan dan Kesihatan Pekerjaan (JKKP) Johor didenda RM50,000 oleh Mahkamah Sesyen di sini, hari ini, kerana menerima rasuah RM30,000 pada 2017.

Hakim Kamarudin Kamsun menjatuhkan hukuman itu ke atas Ismail Busrah, 39, yang mengaku bersalah sejurus pertuduhan dibacakan terhadapnya oleh jurubahasa mahkamah.

Tertuduh didakwa menerima wang tunai RM30,000 dengan tiada balasan daripada pengurus sebuah syarikat petroleum, Norazman Abdul Latif, yang diketahui ada hubungan dengan tugas rasmi tertuduh sebagai Pegawai Penyelia Projek 'Engineering Procurement Construction Commissioning of Field Ereted Tanks' di RAPID, Pengerang.

Tertuduh didakwa melakukan perbuatan itu di lampu isyarat menghala ke Jalan Lingkaran Dalam, di sini, antara jam 2.15 petang hingga 2.30 petang 31 Oktober 2017.

Tertuduh didakwa mengikut Seksyen 165 Kanun Keseksaan yang membawa hukuman penjara maksimum dua tahun atau denda atau kedua-duanya, jika sabit kesalahan.

Pendakwaan dilakukan Timbalan Pendakwa Raya Suruhanjaya Pencegahan Rasuah Malaysia (SPRM), Mohammed Heikal Ismail, manakala tertuduh tidak diwakili peguam.

Terdahulu, tertuduh dalam rayuan meringankan hukuman memberitahu mahkamah bahawa dirinya adalah pekerja cemerlang.

"Saya penjawat awam yang cemerlang dan pernah mendapat anugerah cemerlang sebanyak dua kali," katanya.

Petronas rekod pendapatan RM251B

Keuntungan Selepas Cukai (PAT) Kumpulan Petroliam Nasional Bhd (Petronas) merekodkan peningkatan 22 peratus kepada RM55.3 bilion bagi tahun kewangan 2018 berbanding RM45.5 bilion pada tahun sebelumnya.

Ia dipacu purata harga minyak yang lebih tinggi selain pengukuhan nilai ringgit berbanding dolar Amerika Syarikat.

Pendapatan Kumpulan juga meningkat 12 peratus kepada RM251 bilion berbanding RM223.6 bilion bagi tahun kewangan sama.

Sementara itu bagi prestasi suku ke empat 2018, Petronas merekodkan PAT sejumlah RM14.3 bilion, penurunan 21 peratus berbanding RM18.2 bilion pada suku sama tahun sebelumnya.

Pendapatan bagi suku itu bagaimanapun meningkat 13 peratus kepada RM69.9 bilion berbanding RM61.8 bilion.

"Petronas merekodkan prestasi kewangan kukuh pada 2018 disokong usaha kami meningkatkan kecekapan operasi dan komersial kami," menurut Presiden dan Ketua Pegawai Eksekutif Kumpulan Petronas, Tan Sri Wan Zulkiflee Wan Ariffin dalam satu sidang media, di sini hari ini.

Pada 2018, Petronas melabur 46.8 bilion perbelanjaan modal merangkumi 54 peratus peringkat domestik dan 46 peratus peringkat antarabangsa.

"Bagi 2019, kami jangka akan melabur modal lebih tinggi dari RM50 bilion. Jika sebelum ini modal banyak dilabur untuk Kompleks Bersepadu Pengerang (PIC), kini ia akan dilaburkan untuk peluang baharu terutama pada bahagian huluan," katanya.

"Secara tradisi kami membelanjakan 70 peratus modal untuk pasaran domestik, namun susulan sumber minyak dan gas yang semakin berkurangan, kami perlu melabur di luar Malaysia.

"Namun jika dilihat secara keseluruhan dan jangka panjang, kami melabur secara signifikan di peringkat domestik," tambah Wan Zulkiflee.

Sementara itu Wan Zulkiflee menjangkakan industri minyak dan gas akan terus berdepan persekitaran mencabar susulan ketidaktentuan pasaran dan risiko geopolitik.

"Kami menetapkan segala perancangan kumpulan adalah berdasarkan penanda aras harga minyak AS$66 setong," tambah Wan Zulkiflee.

KNM bags US$4.86mil job in Bahrain

KNM Group's wholly-owned subsidiary FBM-KNM FZCO has won a US$4.86mil contract to supply carbon steel pressure vessels from TTSJV WLL for the BMP Modernisation Programme-Bahrain.
 
In a filing with Bursa Malaysia today, it said that the supply and delivery duration would be for 12 months.
 
KNM noted that the award was subject to certain risks, mainly in the power, oil, gas, petrochemical and energy industries, but with its vast experience, the group may undertake efforts to mitigate the risks.
 
"The contract is expected to contribute positively to the group's earnings for the financial years ending Dec 31, 2019 and Dec 31, 2020," it said.
 
FBM-KNM FZCO, incorporated in the United Arab Emirates, is principally involved in the design and manufacture of air-cooled heat exchangers, specialty shell and tube heat exchangers and process gas waste heat boilers for the oil, gas, petrochemical and desalination industries.
 
TTSJV WLL is a jointly-owned company incorporated in Bahrain by the Technip group of companies and Samsung Engineering Co Ltd.

PETRONAS sangkal tuduhan portal

PETRONAS menafikan sekeras-kerasnya tuduhan yang dilemparkan dalam sebuah hantaran pada satu blog dan berkata ia adalah tidak benar dan tidak berasas.

"Merujuk kepada tuduhan berniat jahat yang terkandung dalam satu tulisan laman dalam talian yang tidak disahkan, PETRONAS mahu menegaskan sekeras-kerasnya bahawa tuduhan berkenaan adalah tidak benar dan tidak berasas.

"PETRONAS mengekalkan standard tadbir urus dan ketelusan yang tertinggi dalam semua urusan perniagaan dan kami tidak akan teragak-agak untuk mengambil tindakan ke atas mana-mana pihak yang terus memburukkan reputasi dan perniagaan syarikat atau kakitangannya.

"PETRONAS telah memfailkan laporan dengan pihak berkuasa berkaitan berhubung hantaran berkenaan dan menyerahkan perkara itu kepada pihak berkuasa untuk tindakan selanjutnya," katanya dalam satu kenyataan.

PETRONAS tidak memperincikan di dalam kenyataan itu bentuk tuduhan dalam hantaran blog berkenaan dan portal yang menerbitkannya.

Namun, kenyataan difahamkan sebagai maklum balas kepada laporan sebuah portal, Sabahkini2.com, bertajuk 'Skandal PETRONAS: Rasuah, hubungan sulit bakal selamatkan kontrak UZMA Bhd' yang dikeluarkan kelmarin.

Antara petikan hantaran blog itu ialah 'Benarkah di PETRONAS syarikat-syarikat tertentu mendapat layanan istimewa asalkan ada hubungan skandal dan dan juga bayar rasuah kepada Group Procurement Project Delivery & Technology (PD&T). Apa istimewanya UZMA Bhd di mata PETRONAS'.

Sementara itu, dalam kenyataan berasingan, Uzma, pembekal perkhidmatan sokongan minyak dan gas turut menafikan dakwaan berkenaan.

"Merujuk laporan yang diterbitkan oleh laman web tidak disahkan pada 29 Januari 2019 itu, Uzma secara tegasnya menyangkal tuduhan palsu yang dibuat ke atas syarikat, eksekutif dan pelanggan utama kami.

"Kami komited melaksanakan amalan perniagaan yang beretika dan tadbir urus korporat yang baik untuk menjadi contoh kepada warga korporat dalam industri minyak dan gas. Uzma telah memfailkan laporan berkenaan kepada pihak berkuasa untuk tindakan selanjutnya," katanya.

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Sapura expects more jobs on top of US$14.3b already in prospects

Sapura Energy Bhd is seeing more jobs in the horizon in addition to the US$14.3 billion already in prospects this year despite a sharp decline in oil price to below US$60 a barrel.

The integrated oil and gas services company, which has presence in over 20 countries, believes the current oil price level will not put a brake on contract flows in the years to come.

Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin said oil majors as well as independents and national oil companies were expected to continue with their exploration and production (E&P) activities to maintain production at current levels.

"At this current price level, it is enough (for E&P players) to make projects viable and earn margins. The current oil price is not really a concern for us. We are comfortable with the current level," Shahril said after the company's extraordinary general meeting here.

"(For oil and gas service contracts), hopefully we will win more next year. Yes, there will be more jobs next year by the oil majors, independents and national oil companies," he added.

Other than providing oil and gas services to national oil companies or oil majors, Sapura Energy is also involved in E&P activities.

For its oil and gas services segment, it has tendered for US$14.3 billion worth of jobs this year.

The firm will find out if it wins any of them in the next six to 12 months.

As of today, the firm had secured US$8.8 billion worth of work, which will keep its earnings sustained for the next three years.

Oil price, which is now trading at US$60 a barrel, has been affected by the trade war between the two largest economies, United States and China.

However, oil majors were reportedly still spending albeit with capital discipline as they saw growth in certain regions such as Africa, Asia and Latin America.

Meanwhile, Shahril said the under-subscription of its rights issue exercise was due to unfavourable investors' sentiment.

"I think the sentiments during the rights issue was a bit muddled because there were so many conflicts. There was conflict between US and China and globally on trade that caused a lot of foreign investors to be a bit shy and local investors too.

"Institutions held back because they were uncertain of the industry's recovery. Unless you are in the business, you cannot see the pick-up in activity in the sector," he said.

However, Shahril said the emergence of Permodalan Nasional Bhd as its largest shareholder was a testament to the firm's growth potential.

Meanwhile, Sapura Energy shareholders have given the nod for the group's joint venture with OMV Aktiengesellschaft.

OMV is buying a 50 per cent stake in Sapura Upstream Sdn Bhd for total proceeds of US$975 million (RM4 billion).

Alam Maritim gets RM25m supply vessel jobs from Petronas

Alam Maritim Resources Bhd announced today its unit has secured work orders worth some RM24.62 million from Petronas Carigali Sdn Bhd for the provision of three platform supply vessels (PSVs).

In a stock exchange filing, Alam Maritim said the value of the jobs, which were awarded to its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd recently, included extensions for up to 30 days.

Of the three jobs, one started on Sept 21, 2018 and will be for a firm charter duration of up to 124 days, whereas the other two — for a longer period of 181 days — began two months later.

Alam Maritim said the work orders are expected to contribute positively to its earnings and net tangible assets for the financial year ending Dec 31, 2018 (FY18) to FY23.

Last year, the group secured four five-year contracts to provide pan-Malaysia underwater services for petroleum arrangement contractors from Petronas Carigali Sdn Bhd and Enquest Petroleum Production Malaysia Ltd, ExxonMobil Exploration and Production Malaysia Inc, and Hess Exploration and Production Malaysia BV.

Alam Maritim previously said the jobs under the four contracts would be on a regular or call-out basis, whereby work orders will be issued by the client based on the schedule of rates as set forth in the contracts.