#mmhe

Oil & gas contract awards set to recover this year

Dateline 2020-01-05, The Sun:

Contract awards for the oil & gas sector are expected to recover after a decline in Q4 2019, said AmInvestment Research (AmResearch).

Malaysia’s 2019 contract awards slid 6% year-on-year (yoy) to RM11.5 billiion due to slower order flows in Q4, which fell 35% quarter-on-quarter (qoq) and halved yoy to RM2.2 billion.

This followed multiple awards to Sapura Energy,…

More oil and gas contracts for Malaysian players in Q1 2020: Report

Dateline 2020-01-03, Business Times:

MALAYSIAN oil and gas service providers can expect contract awards to improve in the first three months of the new year, compared with the decline in 2019 – on the back of not just seasonal lumpiness in the first and fourth quarters, but also momentum from longer-term projects.

That’s according to a recent report by AmBank analyst Alex Goh, who noted that…

Challenges remain for sour gas field project

Dateline 2019-06-21, Upstream Online:

Exploiting the estimated 3.2 trillion cubic feet of recoverable gas reserves hosted in the Kasawari sour gas field off Malaysia has been a long time coming and there are still hurdles to be overcome, writes Amanda Battersby.

Operator Petronas originally targeted a 2019 start-up date for Kasawari with peak production of 900 million cubic feet per day…

KPOC files RM125m claim against MMHE

Dateline 2019-03-18, The Star:

Kebabangan Petroleum Operating Company (KPOC) has filed a RM125mil claim against Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) over a contract dispute at an oil field north of Sabah.

MMHE said on Monday its major subdiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE Sdn Bhd) had received a notice of arbitration dated March 13 from KPOC.

The first…

Petronas’ oil rig-making unit stays in the red for fourth straight quarter

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the…

Petronas’ oil rig-making unit stays in the red for fourth straight quarter

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the…