Going towards month low ....despite contracts . Better buy companies that reward shareholders . This one got contract also price go down show how much the co appreciate its shareholders. Holding for years also 30-50+. Disappointing
T7 Global, Advancecon to explore ECRL business opportunities TheEdge
KUALA LUMPUR (Aug 14): Oil and gas service provider T7 Global Bhd has teamed up with Advancecon Holdings Bhd to explore business opportunities pertaining to the RM44 billion East Coast Rail Link (ECRL) project.
In separate bourse filings today, both companies said their subsidiaries T7 Kemuncak Sdn Bhd and Advancecon Infra Sdn Bhd have today signed a collaboration agreement for the purpose.
"The agreement will provide opportunities for the parties to establish a strategic partnership for various activities pertaining to the ECRL project based on the respective party's expertise and strengths, which allow the parties to tap into each other's expertise and resources," they added.
T7 Kemuncak is involved in construction and infrastructure works, while Advancecon Infra provides earthworks and civil engineering services.
Should the collaboration materialises, T7 Global and Advancecon said it is expected to contribute positively to the two groups' future earnings.
T7 Global executive deputy chairman Tan Sri Tan Kean Soon noted that Advancecon Infra is permitted to tender for Malaysian government projects with unlimited value across the country.
"The construction industry today has to evolve and adapt quickly in the advent of new regulations. We are proud to be collaborating with an experienced partner whose expertise is widely recognised across the globe. The agreement will be underpinned by a synergy of combined skills and the convergence of our long-term strategies," he said in a separate statement.
Reason to perform a workover Workovers rank among the most complex, difficult and expensive types of wellwork. They are only performed if the completion of a well is terminally unsuitable for the job at hand. The production tubing may have become damaged due to operational factors like corrosion to the point where well integrity is threatened. Downhole components such as tubing, retrievable downhole safety valves, or electrical submersible pumps may have malfunctioned, needing replacement.
Workover Rig doing a Snub Job In other circumstances, the reason for a workover may not be that the completion itself is in a bad condition, but that changing reservoir conditions make the former completion unsuitable. For example, a high productivity well may have been completed with 5½" tubing to allow high flow rates (a narrower tubing would have unnecessarily choked the flow). Some years on, declining productivity means the reservoir can no longer support stable flow through this wide bore. This may lead to a workover to replace the 5½" tubing with 4½" tubing. The narrower bore makes for a more stable flow.
Operation Before any workover, the well must first be killed. Since workovers are long planned in advance, there would be much time to plan the well kill and so the reverse circulation would be common. The intense nature of this operation often requires no less than the capabilities of a drilling rig.
The workover begins by killing the well then removing the wellhead and possibly the flow line, then installing a B.O.P commonly known as a blowout preventer, then lifting the tubing hanger from the casing head, thus beginning to pull the completion out of the well. The string will almost always be fixed in place by at least one production packer. If the packer is retrievable it can be released easily enough and pulled out with the completion string. If it is permanent, then it is common to cut the tubing just above it and pull out the upper portion of the string. If necessary, the packer and the tubing left in hole can be milled out, though more commonly, the new completion will make use of it by setting a new packer just above it and running new tubing down to the top of the old.
Workovers on casing Although less exposed to wellbore fluids, casing strings too have been known to lose integrity. On occasion, it may be deemed economical to pull and replace it. Because casing strings are cemented in place, this is significantly more difficult and expensive than replacing the completion string. If in some instances the casing cannot be removed from the well, it may be necessary to sidetrack the offending area and recomplete, also an expensive process. For all but the most productive well, replacing casing would never be economical.
Read again
Workovers rank among the most complex, difficult and expensive types of wellwork
. If in some instances the casing cannot be removed from the well, it may be necessary to sidetrack the offending area and recomplete, also an expensive process
FOR THE NEXT 5 YEARS T7 GLOBAL IS GIVEN UMBRELLA PROJECTS OVER MORE THAN 350 PETRONAS OIL AND GAS WELLS WORKOVER SERVICES WHICH COMMAND HIGH PROFITS JUST LIKE PENERGY, VELESTO & DAYANG
HOLD TIGHT ALL T7 GLOBAL SHARES FOR MAXIMUM UPSIDE
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tuapuikia
2,346 posts
Posted by tuapuikia > 2019-10-29 09:28 | Report Abuse
win many contracts still not going up, apasal ?