No major project in 2025. Huge expense includes pay worker wages, OT, equipments, and etc. Major shareholder regret and cease. Why KYY still want to trap people to buy
? Why

‘Highly attractive investment’: Shell hails start-up of Malaysia offshore project
The Jerun gas condensate field came on stream this week

Zoe Yujnovich, Shell's head of integrated gas and upstream.
Zoe Yujnovich, Shell's head of integrated gas and upstream.Photo: SHELL
Amanda Battersby
Asia Bureau ChiefSingapore

Published 12 July 2024, 14:53
UK supermajor Shell has hailed the Jerun gas field offshore Malaysia that came on stream earlier this week as a “highly attractive investment”.

Shell has a 30% interest in SapuraOMV Upstream’s Block SK 408 offshore Sarawak, East Malaysia, that hosts Jerun. The partners in 2021 took the final investment decision on Jerun, where the central production platform is designed to produce up to 550 million cubic feet per day of gas, with condensate output of 15,000 barrels per day of condensate.

Gas from Jerun is exported via a new 80-kilometre pipeline to the E11RB production hub for onward delivery to customers in Bintulu, Sarawak, including the Petronas LNG Complex.

“Jerun was a highly attractive investment for Shell, building on our interests in this important region off the coast of Sarawak, offshore Malaysia, where Shell operates the Timi platform and has the Rosmari-Marjoram project under construction,” said Zoe Yujnovich, Shell’s integrated gas and upstream director.

The Jerun co-venturers are operator SapuraOMV Upstream with a 40% stake, Sarawak Shell and Malaysia’s national E&P player Petronas Carigali on 30%.


“Gas is an important fuel for Malaysia and the world, providing a secure form of energy for heating, cooling and power generation. We are delighted the venture has reached this milestone,” added Yujnovich.

Energy giant Shell on Friday said it remains committed to supporting Malaysia’s economic progress and energy transition efforts with “competitive and resilient investments”.

On Shell’s Capital Market Day in 2023, the company committed to deliver upstream and integrated gas projects coming on stream between 2023 to 2025, with total peak production of greater than 500,000 barrels of oil equivalent per day.

https://www.upstreamonline.com/production/-highly-attractive-investment-shell-hails-start-up-of-malaysia-offshore-project/2-1-1676550

Malaysia’s Bid for Energy Dominance: Prime Minister Courts Saudi Investment
Story by Asim Khan • 15h


n the grand halls of power in Saudi Arabia, a Malaysian delegation, led by Prime Minister Anwar Ibrahim, has been on a mission. The goal: to convince Saudi officials and business leaders to funnel their investments into Malaysia, a country eager to play a central role in the oil and gas development of Southeast Asia. Anwar, who also holds the position of Finance Minister, met with key figures from Saudi Arabia’s commerce and energy sectors, including Dr Majid Abdullah Alkassabi, the Minister of Commerce, and Amin H Nasser, the President and CEO of Saudi Aramco, the world's largest oil and gas company. (Read Also: Malaysia Records Improvement in Air Quality: A Beacon Amidst Global Pollution Challenges)
With the backing of his team – the Foreign Minister, Datuk Seri Dr Zambry Abd Kadir; the Investment, Trade and Industry Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz; and the Malaysian Ambassador to Saudi Arabia, Datuk Wan Zaidi Wan Abdullah – Anwar sought to cultivate an environment conducive to Saudi investment. The move comes in the wake of Aramco’s expressed desire to make Malaysia the hub of Saudi Arabian oil and gas development in the Southeast Asia region. The talks were described as promising, with results expected to be announced soon. Anwar also bore witness to the exchange of memorandum of understanding documents between Malaysian and Saudi Arabian companies, signaling a strengthening of ties between the two countries.
ASEAN-GCC Summit and Beyond
This diplomatic endeavor was part of Anwar's working visit to attend the ASEAN-GCC Summit, a landmark meeting between the blocs of the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). The summit, held for the first time since the two regional blocs established relations in 1990, aimed to bolster cooperation and optimize opportunities for bilateral trade and investment. Much is at stake. Saudi Arabia is Malaysia's largest trading partner among West Asian countries, with total bilateral trade between the two countries in 2022 amounting to US$10.26 billion, marking a hefty increase of 159.2 percent from 2021. (Read Also: Malaysia’s Crackdown on Call Centre Scams Unearths a Global Web of Deception)
Strengthening Ties and Creating Opportunities
As the ASEAN coordinator for the summit, Malaysia played a significant role in facilitating discussions and promoting cooperation. The cultivation of these relationships holds great potential for increased trade and investment, creating opportunities for Malaysian companies to export their expertise and capital to assist investments in GCC countries. It’s not just about oil and gas. The cooperation also encompasses projects related to real estate, technology, and aviation in both countries. The robustness of these ties, and the investments they might yield, are symbols of the seriousness and commitment of both Malaysia and Saudi Arabia to elevate their trade, investment relations, and cooperation to a new level. Prime Minister Anwar Ibrahim's visit to Saudi Arabia not only demonstrated Malaysia's commitment to attracting global investors but also underscored the country’s readiness to play a larger role in the world's energy sector. The discussions with Saudi Aramco and other Saudi Arabian companies suggest a growing interest in Malaysia as a hub for oil and gas development in Southeast Asia. As the world continues to grapple with shifting energy dynamics, these conversations are yet another reminder of the intricate web of global energy politics.

https://theedgemalaysia.com/node/686999

Mubadala, Inpex among suitors for SapuraOMV in RM5.73b deal, say sources
By Ron Bousso & Yantoultra Ngui / Reuters
20 Oct 2023, 03:01 pm
ImageDekstop
main news image
LONDON/SINGAPORE (Oct 20): Abu Dhabi state fund Mubadala Investment and Japanese oil and gas explorer Inpex are among firms competing to acquire SapuraOMV in a deal expected to be worth about US$1.2 billion (RM5.73 billion), according to two sources with direct knowledge.

The sale of the Malaysian-headquartered oil and gas upstream company could help boost weak global merger and acquisition (M&A) activity buffeted by headwinds from a slowing world economy, higher interest rates and geopolitical tension.

Indonesian energy company Medco Energi is also vying for SapuraOMV, an equal joint venture of Sapura Energy Bhd and Austria's OMV, with bids due this week, the sources added.

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They declined to be identified named as the matter was private.

Sapura Energy declined to comment. OMV and Inpex said they had no comment. Mubadala and Medco did not immediately respond to requests for comment.

M&A activity in the Asia Pacific region and Japan dropped 26% to a 10-year low of US$624.4 billion for the first nine months of this year, versus the year-ago period, LSEG data shows.

Deal activity in the energy and power sectors in the region fell 44.9% to almost US$53 billion, LSEG data shows.

SapuraOMV produced about 30,000 barrels of oil equivalent per day (kboepd) from its two Malaysian assets, SK310-B15 and SK408 — Gorek, Larak and Bakong, Sapura Energy said in its latest annual report for fiscal year 2023.

The planned stake divestment would help bring in fresh capital while paring debt, Sapura Energy said in the report.

With exploration interests in Australia, Mexico and New Zealand, SapuraOMV targets production of 100 kboepd through organic growth and M&A activity over the next five to eight years, according to OMV's website.

In November 2018, OMV said it was investing up to US$975 million for its 50% share of the equity in SapuraOMV in a deal the intended to springboard its Asia expansion.

https://sg.finance.yahoo.com/news/mubadala-inpex-among-suitors-malaysias-064905129.html

https://sg.finance.yahoo.com/news/mubadala-inpex-among-suitors-malaysias-064905129.html

Mubadala, Inpex among suitors for Malaysia's SapuraOMV in $1.2-bln deal -sources
Ron Bousso and Yantoultra Ngui
Fri, 20 October 2023 at 2:49 pm MYT·2-min read
In this article:

5218.KL
+22.2222%


OMV.VI
-0.93%


OMVJF
-1.28%


OMVKY
-0.54%


IPXHF
0.00%


IPXHY
-0.54%


5218PA.KL
0.00%


By Ron Bousso and Yantoultra Ngui

LONDON/SINGAPORE, Oct 20 (Reuters) - Abu Dhabi state fund Mubadala Investment and Japanese oil and gas explorer Inpex are among firms competing to acquire SapuraOMV in a deal expected to be worth about $1.2 billion, according to two sources with direct knowledge.

The sale of the Malaysian-headquartered oil and gas upstream company could help boost weak global merger and acquisition (M&A) activity buffeted by headwinds from a slowing world economy, higher interest rates and geopolitical tension.

Indonesian energy company Medco Energi is also vying for SapuraOMV, an equal joint venture of Sapura Energy and Austria's OMV, with bids due this week, the sources added.

They declined to be identified named as the matter was private.

Sapura Energy declined to comment. OMV and Inpex said they had no comment. Mubadala and Medco did not immediately respond to requests for comment.

M&A activity in the Asia Pacific region and Japan dropped 26% to a 10-year low of $624.4 billion for the first nine months of this year, versus the year-ago period, LSEG data shows.

Deal activity in the energy and power sectors in the region fell 44.9% to almost $53 billion, LSEG data shows.

SapuraOMV produced about 30,000 barrels of oil equivalent per day (kboepd) from its two Malaysian assets, SK310-B15 and SK408 – Gorek, Larak and Bakong, Sapura Energy said in its latest annual report for fiscal year 2023.

The planned stake divestment would help bring in fresh capital while paring debt, Sapura Energy said in the report.

With exploration interests in Australia, Mexico and New Zealand, SapuraOMV targets production of 100 kboepd through organic growth and M&A activity over the next five to eight years, according to OMV's website.

In November 2018, OMV said it was investing up to $975 million for its 50% share of the equity in SapuraOMV in a deal the intended to springboard its Asia expansion. (Reporting by Ron Bousso in London and Yantoultra Ngui in Singapore; Editing by Scott Murdoch and Clarence Fernandez)

https://www.reuters.com/markets/deals/mubadala-inpex-among-suitors-malaysias-sapuraomv-12-bln-deal-sources-2023-10-20/

Mubadala, Inpex among suitors for Malaysia's SapuraOMV in $1.2-billion deal, sources say
By Ron Bousso and Yantoultra Ngui
October 20, 20233:11 PM GMT+8Updated an hour ago



Gastech 2023 in Singapore
Japan's top oil and gas explorer Inpex's booth is seen at Gastech 2023 in Singapore September 7, 2023. REUTERS/Florence Tan/File photo Acquire Licensing Rights

LONDON/SINGAPORE, Oct 20 (Reuters) - Abu Dhabi state fund Mubadala Investment (MUDEV.UL) and Japanese oil and gas explorer Inpex (1605.T) are among firms competing to acquire SapuraOMV in a deal expected to be worth about $1.2 billion, according to two sources with direct knowledge.

The sale of the Malaysian-headquartered oil and gas upstream company could help boost weak global merger and acquisition (M&A) activity buffeted by headwinds from a slowing world economy, higher interest rates and geopolitical tension.

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Indonesian energy company Medco Energi (MEDC.JK) is also vying for SapuraOMV, an equal joint venture of Sapura Energy (SAEN.KL) and Austria's OMV (OMVV.VI), with bids due this week, the sources added.

They declined to be identified named as the matter was private.

Sapura Energy declined to comment. OMV and Inpex said they had no comment. Mubadala and Medco did not immediately respond to requests for comment.

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M&A activity in the Asia Pacific region and Japan dropped 26% to a 10-year low of $624.4 billion for the first nine months of this year, versus the year-ago period, LSEG data shows.

Deal activity in the energy and power sectors in the region fell 44.9% to almost $53 billion, LSEG data shows.

SapuraOMV produced about 30,000 barrels of oil equivalent per day (kboepd) from its two Malaysian assets, SK310-B15 and SK408 – Gorek, Larak and Bakong, Sapura Energy said in its latest annual report for fiscal year 2023.

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Report this ad
The planned stake divestment would help bring in fresh capital while paring debt, Sapura Energy said in the report.

With exploration interests in Australia, Mexico and New Zealand, SapuraOMV targets production of 100 kboepd through organic growth and M&A activity over the next five to eight years, according to OMV's website.

In November 2018, OMV said it was investing up to $975 million for its 50% share of the equity in SapuraOMV in a deal the intended to springboard its Asia expansion.

Reporting by Ron Bousso in London and Yantoultra Ngui in Singapore; Editing by Scott Murdoch and Clarence Fernandez

Shell CRUX pun dah dapat lama. senyap je

wasco management is conservative. dapat projek lama pun tak mau announce!

now all the way Barossa GEP, Barossa SURF, Jerun Field development, Shell Timi SK318 Field Develpment

No project, how to survive? need to pay salary, rental etc. Who are brave, buy lah.

All is forecast, prediction and talk only to goreng share price up to sky.
No black and white contract.
Nowadays, the pipe coating industry are very bad. Even Petronas in this year also cut cut cut.
At 2019, there is no major project pipelines due to cut cost from oil company. It is due to oil price low low low. If oil price low, who want to build pipeline ?
And Wah Seong is very bad, no give dividend to shareholders over 3 years even they made many money every quarter. Shareholders are very disappointed.
Left is many operating expenses, Qatar build plant require much more CAPEX etc..

this year really bad, very less pipeline project, eat banana

why up so much ? all is just HLIB prediction. in fact, there is now no big project, more expenses, and QR3 may incurred losses.

earlier told ur guys already this counter can not buy

Above articles all rubbish. Why you want to trap people go to chase high?

Wasco now no project run，Many people Now jobless. Why u still want to promote. Want to trap people ?

Already tell you to sell at last month. your guy dun want to listen. now wah seong future no more project already. Still want to buy low to average your cost? buy lah..

Quick run for your life! No project, no banana

Pls quick sell. otherwise you will deep lose

buy buy buy, chase high. Shark definitely will sell to you.

market is very competetive. Now not easy to get a new project. Most of jobs now are go to Bredero Shaw. Please go to check and see.

sell

W 持有 Penergy 27% 股权

必达能源末季亏4691万 - e南洋商报Nanyang Siang Pau | 马来西亚新闻真实报道 http://www.enanyang.my/?p=1002074

Time to collecting. JFE work coming..

这场 nord stream 2 的 pipe coating 工，全程长达 2500 公里的天然气输送管，从俄罗斯南方输送天然气到德国。如今在芬兰的工厂已设立，而且production已在三月份开始了。concrete coating 是公司的强项，而且是最赚钱的生意。所以在这三年里，公司会有稳定的营收。在加上在关丹工厂挪威的 Johan Sverdrup project已如火如荼进行中,还有跟 penergy 公司的营收，和其他 join venture 公司的营收，不得了..!

华商去年拿到了一场6亿欧元的工，马币有多少，你自己算一算。

PETALING JAYA: The momentum of the oil and gas (O&G) sector in the country is expected to pick-up in the second quarter (Q2 17) onwards, thanks to cyclical recovery and high productivity.

Maybank IB Research, which is positive on the sector,  said it expect further pick-up in momentum in Q2 17 as volatility has receded, confidence has improved and costs have reset.

“The sector is on a cyclical recovery, as the oil market re-balances and capital expenditure (capex) grows. We expect stronger quarters ahead, as the sector moves into high productivity periods. 

“Our crude oil price assumption of US$53/bbl average for 2017 (Jan-May 17: US$54/bbl) is unchanged. We remain positive on the sector. Our key stock buys are Sapura Energy, Yinson, Dialog and Wah Seong,’’ Maybank IB said.

Elaborating further, the research house added that Organisation of Petroluem Exporting Countries (Opec) and non-Opec members recent extension of production cut (1.8 million barrels per day (bpd)) to June 2018 is market neutral but the commitment to drive down global stockpile is commendable, reflecting strong compliance and collaboration among members. 

On the domestic front, Petronas RM60bil capex commitment for 2017 (+20% year-on-year) is a positive, it noted, adding that the brokerage is slowly seeing a revival in upstream activities (i.e. rising drilling works).

Tenders pipeline are also on the rise, of which most (i.e. offshore support vessels (OSV), maintenance) are back-loaded in in the second half of this year, Maybank IB said. 

Commenting on its stock picks, the research house said it liked Sapura Energy as is a direct proxy, beta play for a recovering O&G sector outlook. Furthermore, it added monetising its gas assets is a catalyst not fully priced in yet.

As for Yinson, it is because of its undemanding valuations with strong earnings growth prospects, cashflow strength and proven execution capabilities, the research house noted. 

Its re-admission as a syariah compliant stock is another positive, Maybank IB said.

With Dialog, it is a direct proxy to Petronas Rapid and Pengerang play and another steady, long term growth story with much upside potential and cashflows/dividends to boot.

Wah Seong has strong earnings visibility over the next three years, backed by the EUR600mil NS2 job and inexpensive valuations vis-à-vis growth, the research house said. 

Maybank IB noted that Q1 17 results were generally in line, as out of the seven stocks under coverage whose results were released last month, five, or 71% came in line.

【星島日報報道】百盛集團(03368)首三個月業績扭虧為盈，公司股價向好，新報1.06元，升0.95%，成交373.34萬元。公司宣布，第一季股東應佔溢利為114.3萬元（人民幣，下同)，而同比則虧損1779.2萬元。
　　期內，錄得合計銷售所得款總額44.069億元，同比下降5.6%；同店銷售同比下降2.2%。經營收益總額同比升0.9%，漲幅主要源自青島金獅廣場的租金收入。商品銷售毛利率為15.5%，較去年同期下降0.5個百分點。
　　特許專櫃銷售佔商品銷售總額約84.6%，餘下15.4%則來自直接銷售。時裝與服裝類別佔商品銷售總額約45.1%，化妝品與配飾類別則佔約46.0%，而家居用品與電器類別亦佔約3.2%，餘下約5.7%則是食品與鮮貨類別。
　　另外，季度經營開支總額為7.441億元，同比下降7.4%；得益於管理層的成本控制，同店經營開支總額下降4.7%。 (nc)

bad qtr come. if good, director buy already

Johan Sverdrup pipe coating production is starting. Revenue generate.

Wah Seong’s pipe coating business unit has received a further award worth c.USD18.2m (RM73.9m) from Statoil Petroleum AS Norway, for the Johan Sverdrup Export Pipeline Project (JoSEPP) for the provision of pipe shipping and related services. We are encouraged by this award, as it reaffirms our Outperform view on Wah Seong, for its execution abilities as a leading pipe coating company amidst this challenging oil price landscape, while providing further extended earnings visibility. The main pipe coating activities for this award expected to be completed by mid-2017, will now see the further award to extend this project’s contract scope up to 1QFY18. Our TP of RM0.94 pegged to 8x PE and FY17F EPS of 11.7sen remains intact.

The enhanced contract. Including this award extension, the JoSEPP award is worth c.USD57.7m for the full scope of coating work and pipe shipping and related services. The further award includes shipping of pipes to a port at west coast of Norway and subsequent offloading. The activity is expected to commence 2QFY17 and to be completed by 1QFY18.

Contract details. To recap, the initial award involves the coating of about 430 km of 18” and 36” pipes. The job scope also includes anti-corrosion coating, internal flow coating and concrete weight coating. The contract is expected to commence in 4QFY16 and to be completed by mid-2017. There are no changes in our estimates as we had already accounted for contract replenishments. The Group has stated that the contract is project specific and is not renewable.

Johan Sverdrup Project. Objective is to provide transportation solutions for oil and gas from the Johan Sverdrup Field to onshore O&G terminals - Mongstad and Kårstø. The 36” pipe outside diameter (OD) oil export pipeline stretches about 283 km which will go north to Mongstad. The 18” OD gas export pipeline is about 156 km and will go east from the Johan Sverdrup riser platform (JSRP) to a hot tap at Statpipe (S31) rich gas pipeline at approximately 130 m water depth

The worst period for wah seong is over. Wah seong just been recently award 2500 km Nord Stream 2 project. The job is to provide concrete coating to oil and gas linepipe which is the core bisness of wasco. The project period is 3 years. If you look to the history of wah seong, the most powerful made money is this concrete coating job. Now the share price is below 1.00, sure the director want to collect more before it surge to higher after a few months. “More low more boss collect.”

New project coming, 450 km

股价已开始回软。喜欢追高者，小心烫到手。

lack of project execution in Q2. no revenue, how to get profit? no need to pay salary to worker ? all free ? can you tell me any project run in Q2 ?

sell waseong. Q2 continue loss RM

HLG got his reason. after a month, you will know

Time to sell WASEONG. Dun chase high.

Nord Stream-2 picks Dutch Wasco Coatings Europe as winner of its Coating, Storing Tender

Business & Economy July 08, 18:40 UTC+3
The contract will be signed in the coming weeks
MOSCOW, July 8. /TASS/. The operator of Nord Stream-2 pipeline has chosen the Dutch Wasco Coatings Europe BV as the contractor for the concrete weight coating and storing of more than 200,000 pipes for the construction of the pipeline, accoridng ot a statement on the Nord Stream-2 website. The winner was chosen on the results of the international tender that was launched in late 2015. The contract with the chosen company is subject to final negotiations and will be signed in the coming weeks.
Pipe deliveries to concrete weight coating facilities are planned to start in September 2016, with the concrete weight coating process starting at the beginning of 2017.
In April, Nord Stream AG 2 completed an international tender for the supply of high-quality steel pipes for two pipelines. The suppliers chosen to deliver approximately 2,500 km of large-diameter pipes with a total weight of roughly 2.2 million tons are Europipe GmbH, Mulheim/Germany (40 %), United Metallurgical Company JSC (OMK), Moscow/Russia (33 %) and Chelyabinsk Pipe-Rolling Plant JSC (Chelpipe), Chelyabinsk/Russia (27 %).
Nord Stream 2 is the construction project of the natural gas pipeline with the capacity of 55 bln cubic meters from Russia to Germany across the Baltic Sea. The route and the entry point to the German gas transport system in Greifswald are intended to be the same as for the first Nord Stream gas pipeline launched in 2011.
The project will be implemented by the joint project company New European Pipeline AG. In this company Gazprom" will hold 51%, E.ON, Shell, OMV and BASF / Wintershall - 10% each, Engie - 9%.

http://www.nord-stream2.com/media-info/news/coating-and-storing-tender-awarded-19/

sell waseong. i want to collect at lower price.

Wasco is targeting Nord Stream 2 Project which involve a pipeline 1200 km from Russia to Germany. For more details, please explore website of Nord Stream 2 Project.

It is pipe coating project which is the core bisness of wasco.

wasco get F12 project from PCSB.