Tuesday, 26 February 2013

Petra Energy Q4 results turn red

KUALA LUMPUR, Feb 25 – Petra Energy Bhd posted a pre-tax loss of RM10.590 million for the fourth quarter ended Dec 31, 2012 from a pre-tax profit of RM6.825 million recorded in the same period previously.

Its revenue declined to RM191.232 million from RM217.708 million, previously.

In a filing to Bursa Malaysia today, the company said the weaker results were due to the lower contribution from integrated brown field maintenance and engineering services segment.

On prospects, Petra said, whilst, maintaining its focus on integrated brown field services activities, the group was continuously enhancing its capabilities to expand into relevant market sectors. – Bernama

 

Petronas Chemicals profit for financial year 2012 eases to RM3.8b

KUALA LUMPUR, Feb 25 – Petronas Chemicals Group Bhd’s profit for the financial year ended Dec 31, 2012, fell by 11 per cent to RM3.8 billion while its revenue rose by two per cent to RM16.6 billion.

In a statement today, Petronas Chemicals said 2012 was a challenging year  for the petrochemical industry as global economic slowdown and uncertainty adversely affected petrochemical prices and demand.

“Although market conditions improved in the fourth quarter, lower prices and demand resulted in narrower product margins for the year,” it said.

Its president/chief executive officer Dr Abd Hapiz Abdullah said the group had delivered healthy results amidst challenging market conditions.

“Our plants performed well and the higher operational efficiency, coupled with the flexibility afforded by our integrated value chain, allowed us to remain resilient and agile.

“We will continue our focus on driving plant performance and building on our strong regional presence to deliver value to our stakeholders,” he said.

During the year, Petronas Chemicals recognised expenses amounting to RM490 million relating to the discontinuation of its vinyl business. It also gained from positive tax incentive impact of RM432 million at one of its subsidiaries.

The board has proposed a single tier final dividend of 14 sen per share amounting to RM1.12 billion. – Bernama

 

Thursday, 21 February 2013

IPTC Beijing: Technical Programme and ePoster Sessions

 

 

All registrants are encouraged to book their hotel accommodation as early as possible.
IPTC delegates travelling to China must be in possession of a passport valid for at least six (6) months on arrival, and a visa issued by the appropriate Chinese officials prior to departure from your home country.   Please click here for more information on Travel & Accommodations>>

 

The IPTC Beijing Technical Programme covers a wide range of topics related to Geosciences, Integrated Reservoir, Reservoir Engineering, Development and Production, Drilling and Completion, Over-arching Industry Issues, Mid-stream Gas and Unconventional Oil and Gas.

The most comprehensive multi-disciplinary technical programme has been developed for IPTC Beijing. Over 700 papers  is expected to be presented in 70 Technical Sessions and Knowledge Sharing Sessions (ePoster) covering:

·         Geosciences

·         Reservoir

·         Drilling and Completions

·         Development and Production

·         Unconconventional Oil and Gas

·         Over-arching Industry Issues (HSE, CSR, talent development and training)

·         Mid-stream Gas (Gas clean-up and storage technologies and natural gas as motor fuel)

·         Onshore and Offshore Opportunities and Challenges in Exploration and Production in China

Browse Technical Programme by day for the complete listing of the technical sessions:

Tuesday Session

Wednesday Session

Thursday Session

26 March 2013

27 March 2013

28 March 2013

 

More than 5,000 oil and gas professionals from around the globe are expected to attend IPTC Beijing, to be held 26-28 March 2013 in Beijing, China. Below are highlights of IPTC Beijing:

·         A combination of multiple disciplines – petroleum engineering, geophysics and geology for a technical programme focused on upstream and midstream challenges

·         Opening Ceremony, CEO Plenary Session, Executive Plenary Session and Topical Luncheon presentation by top industry leaders

·         International experts will share their views in Four (4) Panel Sessions

·         Special Events: IPTC "Excellence in Project Integration" Award, Education Week and Young Professionals Workshop

·         A cutting-edge technical exhibition spanning more than 2,600 sqm

 

Register Now

 

Download Conference Preview

 

Training Courses

In conjunction with the conference, there will be three (3) Training Courses offered by  European Association of Geoscientists & Engineers (EAGE) and Society of Petroleum Engineers (SPE).

Find out more>>


Log on to www.iptcnet.org/2013 for more information or follow / like us at:

 

 

IPTC Asia Pacific - c/o SPE - Asia Pacific (M) Sdn. Bhd., Level 35, The Gardens South Tower, Mid Valley City,
Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia
Tel: +60.3.2182.3000 Fax: +60.3.21823030 Email: iptc@iptcnet.org

IPTC Middle East
- c/o SPE Middle East, North Africa & India, Fortune Towers, 31st Floor, Offices 3101/2

JLT Area, P. O. Box 215959, Dubai, United Arab Emirates
Tel: +971.4.457.5800 Fax: +971.4.457.3164 Email: iptc@iptcnet.org

You have received this email because you are signed up to receive news about IPTC or attended past IPTC, or because you are an SPE member who has indicated interest in related topics.

 

SPE members: To unsubscribe, send an email message to service@iptcnet.org with "Unsubscribe" in the subject line. Please also include your name and member number in the text.

 

IPTC past attendees and news subscribers: To unsubscribe, go to http://www.iptcnet.org/2013/pages/general/subscribe.php

4059538

Wednesday, 13 February 2013

SPE Projects, Facilities, and Construction News Delivered to Your Inbox

 

Society of Petroleum Engineers

Projects, Facilities, and Construction Update

 

Standardization in Underwater Facilities Engineering

PFCSubsea intervention is expensive and difficult. Paul Jones, subsea manager at Chevron, wrote about the value proposition of fully autonomous, self-diagnosing, self-healing facilities. A missing link in transforming this dream to reality is the lagging development of globally standardized systems. To read the Oil and Gas Facilities column, visit the discipline page.

 

If this is not your primary technical discipline, you can change it in your member profile. Not an SPE member? Join now.

 

Upcoming Events

These events draw Projects, Facilities, and Construction professionals from all over the world. Join bright minds like your own to exchange ideas and discover new technologies. From conferences to workshops, and forums to training courses, there's always an event suited to your interests.

meetings

·         Subsea Well Intervention
24–27 February | Bangkok, Thailand

·         GIWS: Water Treatment for Unconventional Production
4–6 March | Fort Worth, Texas, USA

·         International Petroleum Technology Conference
26–28 March | Beijing, China

·         See a full list of events >>

Training Courses

·         Project Decision-Making
26–27 February | Denver, Colorado, USA

·         The Science and Technology of Water Treating
26–27 February | Houston, Texas, USA

·         See a full list of courses >>

Web Events

·         Produced Water Management–"Waste to Value"
19 February | 0900 and 2000 (CT, GMT -6)

·         Innovation Management in R&D
27 Feb | 0830 (CT, GMT –6)

·         View upcoming web events or watch a web event available now.

 

Suggested Reading

As the leading source of industry information for Projects, Facilities, and Construction professionals, the SPE Bookstore puts technical applications, issues, and discoveries right at your fingertips. Here are a few discipline-related titles you might find useful.

·         Mechanistic Modeling of Gas-Liquid Two-Phase Flow in Pipes

·         Offshore Multiphase Production Operations

Browse other titles online now.

New Separations Technology Technical Section

A new technical section has been formed to focus on facilities-related technologies. The subject area for this new community is separations, with an emphasis on gas/liquid and liquid/liquid process systems.

 

Learn more and join now.

 

Nominate a colleague—Distinguished Lecturer Program

Do you know someone who is an authority in their field and an experienced public speaker? If so, nominate them for the SPE Distinguished Lecturer Program—deadline 15 March 2013. Learn more.

 

Would you like to be more involved with SPE? Become a volunteer.

Becoming a volunteer lets you use your knowledge and experience to influence SPE programs and other activities. There are many opportunities to choose from, regardless of your technical interest, location, or experience level. Learn more and apply today.

 

 

 

Society of Petroleum Engineers
222 Palisades Creek Drive, Richardson, Texas, USA 75080-2040

4059538

Privacy Policy

 

Friday, 8 February 2013

Malaysia Marine and Technip units win US$775m contract

KUALA LUMPUR, Feb 8 — Malaysia Marine and Heavy Engineering Holdings Bhd said today its subsidiary won a US$775 million (RM2.4 billion) contract to build a floating offshore facility jointly with a local unit of France’s Technip SA.

The units have equal stakes in the joint venture, which successfully bid for the Malikai deepwater project off the coast of Sabah awarded by Sabah Shell Petroleum Company Ltd, according to a filing in the stock exchange.

The project is expected to be completed by the third quarter of 2015. — Reuters

 

Wednesday, 6 February 2013

Register for an Upcoming SPE Web Event

 

SPE Web Events

Experts Technology Education

 

Dig deeper without leaving your desk

Too busy to be away from the office? Take yourself to greater depths right from your desktop with SPE Web Events. Join our industry experts as they explore solutions to real problems and discuss trending topics.

View upcoming web events

Watch a web event available now

 

Produced Water Management—"Waste to Value"

19 February 2013

0800 (CST, GMT -6)

1900 (CST, GMT -6)

Dwyann Dalrymple

SPE Distinguished Lecturer


Management of Innovation in R&D

27 February 2013

0830 (CST, GMT -6)

Dr. Chehroudi

 

A Sustainable Solution to the Climate Change Dilemma—"Eliminate the Flare"

12 March 2013

0800 (CST, GMT -6)

1900 (CST, GMT -6)

Audrey Mascarenhas

SPE Distinguished Lecturer


Modeling and Simplicity: Occam's Razor in the 21st Century

21 March 2013

1000 (CST, GMT -6)

Larry W. Lake

 

Join the Conversation

 

Connect, share on Twitter
@SPE_Events
#SPEWEBEVENTS

 

Join our communities on Facebook and LinkedIn

 

 

Society of Petroleum Engineers
222 Palisades Creek Drive, Richardson, Texas, USA 75080-2040

Privacy Policy

 

Tuesday, 5 February 2013

IPTC Beijing: Don’t Miss these Special Events

 

 

All registrants are encouraged to book their hotel accommodation as early as possible.
IPTC delegates travelling to China must be in possession of a passport valid for at least six (6) months on arrival, and a visa issued by the appropriate Chinese officials prior to departure from your home country.   Please click here for more information on Travel & Accommodations>>

Don't Miss These Special Events!

From 26 – 28 March 2013, Beijing will host more than 5,000 international oil and gas professionals at IPTC Beijing.

Various programmes combining technical and social components will take place throughout the conference including Tours, Closing Session, Integrated Project Management Session and the most anticipated event - Conference Dinner and Award Presentation.

Conference Dinner and Award
26 March 2013 ● 1830-2100 Hours ● Convention Hall 1, Level 2

A conference dinner will be held with the ambience of true Chinese traditional fun fair featuring various Chinese traditional paper cutting, candy figurines, dough figurines and a world class performance of China's arts and cultural heritage.

In conjunction with dinner, the IPTC Award Presentation will be held whereby finalists will be recognised and at the end of the night, the winner will be announced. The top three (3) finalists (in alphabetical order) are:

·         Efficient Development of the Large Tight Sandstone Gas Field in Sulige by China National Petroleum Corp. – PetroChina Changqing Oilfield Co.

·         Jubilee Project (Ghana) by Tullow Ghana Ltd.

·         Pazflor, a Technological Breakthrough in Deep Offshore Developments by Total

Integrated Project Management Session
27 March 2013 ● 1600-1730 Hours ● Conventional Hall 3, Level 1

Don't miss the special presentations of the top three (3) shortlisted projects. Learn and take home with you the polished execution of projects, of new technologies and impact of the projects on the economy. Find out more>>
 

Closing Session
28 March 2013 ● 1545-1630 Hours ● Conventional Hall 3, Level 1

The Closing Session will feature:

·         Highlight of the 3 days conference programme

·         Award presentation for Student Projects who participated in Education Week Programme

·         Introduction of next IPTC in Doha and Kuala Lumpur

·         Appreciation notes to all participants

·         Lucky draw

*Drop your business card at the IPTC Pavilion at the Exhibition Hall 3 of the Convention Center for the prize drawing at the Closing Session. Participant must be present to win!

Tours

China has a large number of wonderful tour destinations including delicate water towns, imposing imperial palaces, splendid national cultural heritage and colourful folk custom are not to be missed. Sign up for the Tours and visit the attractive and exotic places in the land of dragons and emperors. Book your trip now>> 

  

 

Register Now

 

Download Conference Preview

 

Training Courses

In conjunction with the conference, there will be six (6) Training Courses offered by American Association of Petroleum Geologists (AAPG), European Association of Geoscientists & Engineers (EAGE), Society of Exploration Geophysicists (SEG) and Society of Petroleum Engineers (SPE).

Find out more>>


Log on to www.iptcnet.org/2013 for more information or follow / like us at:

 

 

IPTC Asia Pacific - c/o SPE – Asia Pacific (M) Sdn. Bhd. Level 35, The Gardens South Tower, Mid Valley City,
Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia
Tel: +60.3.2182.3000 Fax: +60.3.2182.3030 Email:
iptc@iptcnet.org

IPTC Middle East - c/o SPE Middle East, North Africa & India, Fortune Towers, 31st Floor, Offices 3101/2
JLT Area, P. O. Box 215959, Dubai, United Arab Emirates
Tel: +971.4.457.5800 Fax: +971.4.457.3164 Email: iptc@iptcnet.org

SPE members receive periodic emails on meetings related to their discipline or because they have opted to receive information on specific meetings or programs. Non-members have received this email because they opted to receive information on this meeting or topic area.

 

To unsubscribe: Send an email message to service@spe.org with "Unsubscribe" in the subject line. Please also include your name and member number (if applicable) in the text.

4059538

Monday, 4 February 2013

Audi to launch piloted cars before the end of the decade

February 03, 2013

 

MUNICH, Feb 3 — This past week, the CEO of Audi reaffirmed the German carmaker’s commitment to the development and implementation of autonomous driving functions and put an official timeline on bringing the next generation of its piloted driving technology to market.

In a speech to delegates at the 19th Handelsblatt Annual Conference in Munich, Audi CEO Rupert Stadler said: “We are assuming that a series-built vehicle with a piloted driving function will be technically feasible this decade.”

Although company spokespeople have hinted that the self-driving and self-parking technology the company demonstrated at this year’s Consumer Electronics Show could soon become an everyday reality, this is the first time Audi has cited a specific timescale in terms of implementation.

Of the two demonstrator cars showcased in Las Vegas earlier this month, one could take over the driving in traffic jams and other congested situations as well as on highways, while the second demonstrator could identify and automatically maneuver into and out of parking spaces via a smartphone-operated remote control.

In his address, Stadler also indicated that the ball is now firmly in the court of policymakers and lawmakers, who will have to accelerate the formation of legislation regarding responsibility and liability for piloted driving technology. This is currently a bigger stumbling block than the costs of or levels of technology involved in delivering the systems.

Stadler is also convinced that innovative services above and beyond purely car-related services will constitute an important part of future driving: ”The car of tomorrow will convey not only passengers but also information,” he said, indicating that increased autonomy or piloted driving would make cars safer, while greater connectivity is opening the doors to a host of other features and possibilities and that these features need to be “used meaningfully.” — AFP/Relaxnews 

 

MISC share climbs higher on takeover offer

February 04, 2013

KUALA LUMPUR, Feb 4 – MISC made handsome gains today following a conditional takeover offer from its parent Petronas to acquire all the remaining shares at a cash offer price of RM5.30 per share.

At 11am, the share price of Malaysia’s leading international shipping line jumped 77 sen or 17.303 per cent to RM5.22 with 5.273 million shares traded.

Petronas already owns a 62.67 per cent stake in MISC, and it will cost it about RM8.831 billion to acquire the remaining 1.666 billion shares.

Petronas said the privatisation of the company will provide them with greater flexibility in deciding MISC’s strategic direction.

The national oil company said MISC is an important part of its integrated business, and the prevailing industry backdrop and uncertain global economy have made its business challenging. – Bernama

 

MISC rises on Petronas buyout offer

February 04, 2013

KUALA LUMPUR, Feb 4 – Shares of Malaysia’s MISC Bhd rose as much as 17 per cent after the shipping firm’s major shareholder Petroliam Nasional Bhd made an RM8.8 billion buyout offer, equal to RM5.30 per share. MISC was 17.3 per cent higher at RM5.22 per share, outperforming the country’s benchmark stock index’s 0.54 per cent rise.

Trading in MISC has been suspended since the offer was made last Thursday. Petronas, Malaysia’s state oil company, owns 62.7 per cent of the shipping firm.

The deal is the latest in a slew of privatisation offers in Malaysia. Tycoon Tan Sri Syed Mokhtar Al Bukhary in December offered to buy out commodities firm Tradewinds Bhd in a deal worth RM1.5 billion, or RM9.30 per share.

Hong Leong Financial Group Bhd, a Malaysian lender controlled by the country’s sixth-richest man Quek Leng Chan, in January offered to take its 79 per cent-owned investment banking arm Hong Leong Capital Bhd private. – Reuters

 

SPE Asia Pacific Training Courses

SPE Training Courses

 

Relevant. Reliable. Rewarding.

SPE Training Courses—setting the standard for technical excellence.

SPE offers courses at multiple venues around the Asia Pacific region. You can find training courses conveniently located at our dedicated training centers, conferences and workshops, and local SPE sections. Below are continuing education opportunities available to you in the coming months.

 

GEOMECHANICS FOR EFFECTIVE GAS SHALE EXPLOITATION
In conjunction with: International Petroleum Technology Conference
25 March | Beijing, China

This one day course explains the essential aspects of geomechanics in shale gas. It offers a unified approach that combines the theoretical, laboratory and field aspects of exploring unconventional reservoirs. Find out more.

PRACTICAL WELL LOG ANALYSIS FOR GAS SHALE RESERVOIRS
In conjunction with: International Petroleum Technology Conference
25 March | Beijing, China

In this course, log analysis for gas shale reservoirs will be demonstrated practically to estimate reservoir properties. Real gas shale field data will be used and attendees will practically learn to apply log data for shale reservoir evaluation. Find out more.

 

in conjunction with applied technology workshop (ATW)

Introduction to Hydraulic Fracturing
In conjunction with ATW: Tight Gas
2 - 3 March | Adelaide, Australia
Find out more.

 

Stand alone course

Cementing Under Extreme Condition of HPHT Wells
18 - 19 February | Bangkok, Thailand
Find out more.

 

Course schedules are subject to change. Visit the SPE Training Courses website for a full list of available courses and the current schedule.

Register online or send an email to
spekl@spe.org for more information.

 

 

Society of Petroleum Engineers - Asia Pacific
Level 35, The Gardens South Tower, Mid Valley City
Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia

Privacy Policy

4059538

Find us here: Facebook Twitter