Dear Friends, Investors & Traders
Today 2nd Tier O&G Velesto won a USD RM131 Milions or RM541 millions JACK up RIG service shows that 2ND tier OGSE SUPPORT stocks are finally coming into play
iT STARTED WITH TIER ONE OGSE STOCKS LIKE DAYANG, PENERGY, CARIMIN, DELEUM & UZMA
ACTUALLY PETRONAS HAS ALREADY ROPED IN SUPPORTING BANKS TO GIVE LOANS TO TIER 2 O&G ENTITIES LIKE T7 GLOBAl, DESTINI, SCOMIES, AZRB & VELESTO
SO JOB AWARDS ARE NOW ROLLING OUT FOR T7 GLOBAL, DESTINI & TODAY VELESTO
AFTER GIVING JOBS TO TIER ONE OGSE PETRONAS WAS CONCERNED FOR OGSE SUBCONTACTORS SO THEY ROPED IN BANKS TO GIVE FINANCIAL SUPPORT
See
February 23, 2019 00:06 am
KUALA LUMPUR (Feb 22): Petronas is collaborating with another five financial institutions to provide financial solutions to Oil & Gas Services and Equipment (OGSE) vendors, via the Vendor Financing Programme for subcontractors, mid-tier and large companies in the sector.
Petronas presented Memoranda of Understanding (MoUs) on the programme to five banks — Export-Import Bank of Malaysia Berhad, HSBC Bank Malaysia Berhad, Maybank, RHB Islamic Bank Berhad and United Overseas Bank (Malaysia) Bhd.
The Vendor Financing Programme aims to improve access to financing and liquidity to local OGSE vendors, particularly subcontractors, where successful applicants will benefit from competitive rates and efficient financing processes from participating financial institutions.
Petronas has roped in more than 20 major local Maintenance and Engineering, Procurement, Construction & Commissioning (EPCC) contractors and their subcontractors for collaboration in validating their financing applications.
The MOU ceremony was graced by Minister of Entrepreneur Development Datuk Seri Mohd Redzuan Md Yusof and attended by key personnel from the participating banks and members of Petronas’ management.
A small and medium enterprise (SME) Vendor Financing Programme for the OGSE vendors, a collaboration with Bank Islam Malaysia Berhad and Syarikat Jaminan Pembiayaan Perniagaan (SJPP), launched in May 2018, has to-date, recorded approved financing amount of more than RM140 million to SMEs that have direct contracts with Petronas.
Petronas President and Group Chief Executive Officer Tan Sri Wan Zulkiflee Wan Ariffin said the participation of more financial institutions is a testimony to the success of the programme.
“Driven by our responsibility to nurture and shape the Malaysian oil and gas sector, Petronas constantly seeks innovative solutions for the mutual benefit of all parties in the ecosystem — more so in the increasing volatile business environment that we operate in today.
Today’s MoU ceremony signifies the commitment shown by the participating financial institutions towards this effort which plays a crucial role in supporting Petronas’ efforts towards shaping a vibrant oil and gas ecosystem,” Tan Sri Wan Zulkiflee said.
The participation of the main contractors in this programme also provides the additional support needed by subcontractors to secure financial assistance in carrying out their functions. It also largely signifies the shared commitment towards strengthening the industry as a whole,” he highlighted.
The new Vendor Financing Programme will also benefit the Bumiputera OGSE sector including those under the Lestari programme — a recently launched vendor-based development programme by the Ministry of Entrepreneur Development and PETRONAS. For further enquiries on the programme, please contact pdtcorporateprojects@petronas.com.
AND THESE ARE THE CURRENT 3 WHICH HAVE WON PROJECTS FROM PETRONAS RECENTLY
1) VELESTO WINNING RM541 MILLIONS FOR JACK UP RIG RENTAL FOR 3 YEARS
VELESTO DOES NOT NEED MUCH FINANCING AS IT HAS INHERITED THE FAIRLY NEW JACK UP RIGS & HYDRAULIC WORKOVER (HWU) FROM UMWOG
So Velesto stands to reap huge windfall from this job award.
And with this Windfall Job award Calvin has raised its target to 50 sen for Velesto
2) T7 GLOBAL
IT WON THIS RECENT PROJECT
T7 GLOBAL BERHAD |
Type | Announcement |
Subject | OTHERS |
Description |
T7 Global Berhad ("the Company" or "T7 Global") - Letter of Award for the provision of integrated well services for intervention, workover and abandonment for petroleum arrangement contractors from PETRONAS Carigali Sdn Bhd. |
The Board of Directors of T7 Global wishes to announce that Tanjung Offshore Services Sdn. Bhd. (“TOS”), a wholly-owned subsidiary of the Company had received the letter of award dated 20 September 2019 from PETRONAS Carigali Sdn. Bhd. for the provision of integrated well services for intervention, workover and abandonment for petroleum arrangement contractors.
Please refer to the attached file for details of the announcement.
This announcement is dated 22 October 2019. |
2. VALUE AND DURATION OF THE CONTRACT The duration of the Contract is for a period of five (5) years, commencing from 20 September 2019 to 19 September 2024. The Contract value shall be as per work order request, which is at the full discretion of the PACs.
Petronas has discovered a total of 163 oil fields and 216 gas fields.
THERE ARE A COMBINED TOTAL OF 379 OIL AND GAS FIELDS IN WEST MALAYSIA, SABAH AND SARAWAK
SO BEING A VENDOR FOR OGSE SINCE TANJUNG OFFSHORE DAYS T7 GLOBAL HAS BEEN AWARDED THIS 5 YEAR WELL INTERVENTION, WORKOVER & DECOMMISSIONING UMBRELLA JOB
UZMA WAS GIVEN 22 DECOMMISIONING JOBS BUT T7 GLOBAL IS GETTING A HIGHER PAYING JOB IN WORKOVER
WHAT IS THE DIFFERENCE BETWEEN WORKOVER AND DECOMMISSIONING JOBS?
THE ANSWER IS THIS
A) IN DECOMMISIONNING THE OIL WELL OR OIL PLATFORM HAS TOTALLY RUN OUT OF ITS USEFUL LIFE. SO THEY MIGHT BE DISMANTLED AND OIL WELL PLUGGED
B) IN WORKOVER THERE IS STILL OIL INSIDE THE WELL. SO THEY INTERVENE TO DO OVERHAUL AND REPAIR THE WELL AND GET OIL FLOWING AGAIN.
AS SUCH THIS JOB IS MORE PROFITABLE THAN JUST DECOMMISSIONING & ABANDONMENT OF OIL WELL
SINCE IT IS A 5 YEAR PERIOD COVERING HUNDREDS OF OIL & GAS WELL THE PROFITS MIGHT MATCH CARIMIN AND PENERGY
SO T7 GLOBAL AT 48.5 SEN IS STILL VERY UNDERVALUE
Calvin has a one year Target Price for T7 Gloobal at Rm1.00 (See if it will overtake Uzma)
T7 Global has been a profitable company thru the bleak years like Uzma
3) DESTINI
DESTINI HAS ALSO WON A SIMILAR PROJECT LIKE T7 GLOBAL
WHEN PETRONAS RECRUITED TIER ONE OGSE THEY CHOSE 5 TO DO SIMILAR JOBS IN TOP-SIDE MAINTAINENCE
SO IT IS NO SURPRISE THAT PETRONAS ALSO CHOSE THESE TWO TO DO OIL WELL WORKOVER AS WELL AS VELESTO
See
DESTINI BERHAD |
Type | Announcement |
Subject | OTHERS |
Description |
DESTINI BERHAD ("DESTINI" OR "COMPANY") LETTER OF AWARD FROM PETRONAS CARIGALI SDN BHD FOR THE PAN MALAYSIA UMBRELLA CONTRACT FOR THE PROVISION OF INTEGRATED WELL SERVICES FOR INTERVENTION, WORKOVER & ABANDONMENT FOR PETROLEUM ARRANGEMENT CONTRACTORS. |
The Board of Directors of Destini is pleased to announce that Destini Oil Services Sdn Bhd (“DOS”), a wholly-owned subsidiary of Destini, had on 20 September 2019 received a Letter of Award from PETRONAS Carigali Sdn Bhd (“PCSB”) for the Pan Malaysia Umbrella Contract for the Provision of Integrated Well Services for Intervention, Workover & Abandonment for Petroleum Arrangement Contractors (PACs) (“Contract”).
Further details of the Contract are set out in the attachment below.
This Announcement is dated 9 October 2019. |
(i) The contract to be executed between PCSB and DOS pursuant to the Letter of Award shall commence on 20 September 2019 and shall expire on 19 September 2024 (5 years) , unless extended or terminated in accordance with the terms and conditions of the Contract;
NOTE: THE AWARD IS ALMOST IDENTICAL TO THE AWARD GIVEN TO T7 GLOBAL
Now some might ask
Why is the price of T7Global at 48.5 sen while Destini is a low at 21.5 sen?
The Answer is this:
T7 Global balance sheet is better than Destini
But Destini do have asset backing as it has bought lots and lots of Assets
This Single High Value Job offers from Petronas to T7 Global & Destini cause them to seek for funds to buy material & man power for the next 5 Years. While T7 Able To Secure Capital better the Boss of Destini has disposed some of his shares plus giving Rights Issue to raise capital. Calvin thinks both are ok and equally good
Since Velesto has gone up somewhat while T7 Global stagnate & Destini share price even dropped & retraced Calvin likes Destini the most. Followed by T7 Global
Of all the OGSE Stocks Calvin made the most money from Velesto. Velesto has been vele vele good to Calvin
Yes! Calvin has a Target Price for Destini at 50 sen which is same target as Velesto
Ha! Some might question why? Why Velesto & Destini target price the same since Velesto has won a Rm541 Millions job
The answer is this
Velesto income is fixed. The figure agreed with Petronas is Rm541 Millions for 3 Years
For T7 Global & Destini the Job function is not fixed for the next 5 years. They are umbrella jobs which cover many many oil * gas wells. Hundreds of them. So any time they are called out to do maintainence or repair or trouble shoot they make money. And like Dayang & Penergy the profits commensurate with the job done
THIS SINGLE INTERVENTION INTO OIL WELL FOR WORKOVER AND DECOMMISSIONING WILLL NOW CHANGE THE FORTUNES OF BOTH T7 GLOBAL & DESTINI LIKE NEVER BEFORE
FEW PEOPLE ARE AWARE AS OF NOW ITS IMMENSE FUTURE PROFITS
ONLY INSIDERS OF T7 GLOBAL AND DESTINI ARE AWARE
SEE HOW DIRECTORS OF T7 GLOBAL BUY
SEE HOW INSIDERS OF DESTINI BUY
LAST TIME CARIMIN DIRECTORS ALSO BOUGHT WHEN CHEAP. NOW DIRECTORS OF CARIMIN ARE SELLING
COULD IT BE THAT CARIMIN DIRECTORS AS WELL AS UZMA DIRECTORS ARE NOW SEEING DWINDLING JOB ORDERS FROM PETRONAS AS JOBS ARE NOW BEING DISTRIBUTED TO TIER TWO SUBCONTRACTORS OF OGSE?
BEST REGARDS
Calvin Tan Research
Singapore
Please buy or sell after doing your own due diligence
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Scomies got 2 contracts
1. Rm610 millions drilling fluid supply to Kuwait oil corp
2. 2 jv with Petchem for the production of special chemicals in Drilling fluid
Other businesses are in marine and coal transport in Indonesia
2019-11-06 07:34
some company like sapnrg win soooo many project but still show losses every Q
2019-11-06 09:23
Speakup
Sapnry got Rm10 bil debt to clear after that will be ok
For now fiberisation stocks can buy on weakness
2019-11-06 11:13
annmix
Alarm n perisai got won any job ?
2019-11-05 23:29