Lecturers of Heriot-Watt University Malaysia will enjoy 50% discount on PetroEdge Training Courses
PUTRAJAYA, 27th September – Heriot-Watt University Malaysia is pleased to announce that it has embarked on a three-year partnership with PetroEdge Pte. Ltd. (AsiaEdge Pte. Ltd.) and NrgEdge Pte. Ltd. today. This collaboration is aimed at nurturing Heriot-Watt University Malaysia students to be industry-ready upon graduation.
A Memorandum of Understanding (MoU) was signed by key representatives from each organisation, i.e. Professor Mushtak Al-Atabi and Ms Janice Yew, Provost & Chief Executive Officer and Chief Operating Officer and Registrar of Heriot-Watt University Malaysia respectively; as well as Mohammad Khalid and Mohd Anas Asalem, Chief Technology Officer and Regional Strategic Partnerships Manager of NrgEdge Pte Ltd respectively.
With the MoU, Heriot-Watt University Malaysia lecturers will obtain a 50% discount on PetroEdge Training Courses. Various volunteer and networking opportunities with industry players will also be made available to students and lecturers, allowing them to gain a more in-depth understanding of the oil and gas industry and enhance their skills and knowledge in the field. The partnership also encourages dialogue between students and lecturers as NrgEdge provides a knowledge-sharing platform via online forums and discussions.
Additionally, the students and lecturers will have access to NrgEdge’s digital learning platform at www.nrgedge.net/learning, which include e-learning courses, webinars and virtual reality modules. This marks another step forward for the university in digital technical learning.
According to Professor Mushtak, the partnership with PetroEdge and NrgEdge would bring great value to students. “The 21st Century has brought its unprecedented challenges and opportunities and for our students and academics to succeed and thrive professionally and personally, they will need to adopt a continuously learning and growing mindset. Making world class courses available to our community electronically is a very important initiative that will go a long way in supporting the professional development of our people.”
Mohammad Khalid from NrgEdge adds, “It is our vision to help members in the energy, oil and gas industry excel at every point in their career journey, by providing them with the tools to succeed, whether it be by networking, or by helping them learn new skills. We want to be able to bridge the skills gap and to prepare the students for a brighter future in the industry.”
Aina Jais, a second year MEng Petroleum Engineering student at Heriot-Watt University Malaysia adds that PetroEdge would certainly assist in helping her to gain an edge in these uncertain economic climate. “I am looking forward to using the platform to learn more. I have a huge passion towards the petroleum industry, and hope that we can gain a deeper insight into the industry, and glimpse into the career that will shape our future.” Aina Jais is also a NrgEdge Student Ambassador.
The event was held at Heriot-Watt University Malaysia in Putrajaya. Besides the MoU signing ceremony, the day’s itinerary also included speeches by Professor Mushtak and Mr. Khalid, as well as a testimonial by NrgEdge Student Ambassador Aina Jais. The event concluded with a group photo session and light refreshments.
About PetroEdge and NrgEdge
AsiaEdge Pte. Ltd. is the holding company of PetroEdge, the leading provider of Energy, Oil & Gas training in Asia. NrgEdge is the professional networking platform for Energy, Oil & Gas professionals, focusing on the Asia Pacific region. The company aims to create a holistic environment that will empower members to excel at every point in their career journey and to assist companies grow their business more effectively.
About Heriot-Watt University
Founded in 1821 as the world’s first mechanics institute, Heriot-Watt has a rich heritage and an established reputation as a leading research-led university. Now, our communities of scholars come from across the world and for a purpose: leaders in ideas and solutions, they deliver innovation and educational excellence in business, engineering, design and the physical, social and life sciences.
Working with leading academics, our students learn and thrive in our friendly community of campuses, with our partners and online. Our graduates are specialist, creative, professional and globally minded. With their research-informed education underpinned by the Heriot-Watt values, they develop character, leadership skills and social mobility, becoming professionally educated, globally employable, citizens of the world.
Our roots are in Scotland, our ambition and reach are truly international. A leader in transnational education, wherever we are, Heriot-Watt is a powerful driver and engine of the economy. Together with our alumni, civic community and industry partners, we transform people, society and the world we live in.
PetroEdge Pte. Ltd. (AsiaEdge Pte. Ltd.) & NrgEdge Pte. Ltd.
+65 6741 9927
Heriot-Watt University Malaysia
+6012 377 3945
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Headline crude prices for the week beginning 11 March 2019 – Brent: US$66/b; WTI: US$56/b
Headlines of the week
Midstream & Downstream
GEO ExPro Vol. 16, No. 1 was published on 4th March 2019 bringing light to the latest science and technology activity in the global geoscience community within the oil, gas and energy sector.
This issue focuses on new technologies available to the oil and gas industry and how they can be adapted to improve hydrocarbon exploration workflows and understanding around the world. The latest issue of GEO ExPro magazine also covers current training methods for educating geoscientists, with articles highlighting the essential pre-drill ‘toolbox’ and how we can harness virtual reality to bring world class geological locations to the classroom.
You can download the PDF of GEO ExPro magazine for FREE and sign up to GEO ExPro’s weekly updates and online exclusives to receive the latest articles direct to your inbox.
In 2017, Norway’s Government Pension Fund Global – also known as the Oil Fund – proposed a complete divestment of oil and gas shares from its massive portfolio. Last week, the Norwegian government partially approved that request, allowing the Fund to exclude 134 upstream companies from the wealth fund. Players like Anadarko Petroleum, Chesapeake Energy, CNOOC, Premier Oil, Soco International and Tullow Oil will now no longer receive any investment from the Fund. That might seem like an inconsequential move, but it isn’t. With over US$1 trillion in assets – the Fund is the largest sovereign wealth fund in the world – it is a major market-shifting move.
Estimates suggest that the government directive will require the Oil Fund to sell some US$7.5 billion in stocks over an undefined period. Shares in the affected companies plunged after the announcement. The reaction is understandable. The Oil Fund holds over 1.3% of all global stocks and shares, including 2.3% of all European stocks. It holds stakes as large as of 2.4% of Royal Dutch Shell and 2.3% of BP, and has long been seen as a major investor and stabilising force in the energy sector.
It is this impression that the Fund is trying to change. Established in 1990 to invest surplus revenues of the booming Norwegian petroleum sector, prudent management has seen its value grow to some US$200,000 per Norwegian citizen today. Its value exceeds all other sovereign wealth funds, including those of China and Singapore. Energy shares – specifically oil and gas firms – have long been a major target for investment due to high returns and bumper dividends. But in 2017, the Fund recommended phasing out oil exploration from its ‘investment universe’. At the time, this was interpreted as yielding to pressure from environmental lobbies, but the Fund has made it clear that the move is for economic reasons.
Put simply, the Fund wants to move away from ‘putting all its eggs in one basket’. Income from Norway’s vast upstream industry – it is the largest producing country in Western Europe – funds the country’s welfare state and pays into the Fund. It has ethical standards – avoiding, for example, investment in tobacco firms – but has concluded that devoting a significant amount of its assets to oil and gas savings presents a double risk. During the good times, when crude prices are high and energy stocks booming, it is a boon. But during a downturn or a crash, it is a major risk. With typical Scandinavian restraint and prudence, the Fund has decided that it is best to minimise that risk by pouring its money into areas that run counter-cyclical to the energy industry.
However, the retreat is just partial. Exempt from the divestment will be oil and gas firms with significant renewable energy divisions – which include supermajors like Shell, BP and Total. This is touted as allowing the Fund to ride the crest of the renewable energy wave, but also manages to neatly fit into the image that Norway wants to project: balancing a major industry with being a responsible environmental steward. It’s the same reason why Equinor – in which the Fund holds a 67% stake – changed its name from Statoil, to project a broader spectrum of business away from oil into emerging energies like wind and solar. Because, as the Fund’s objective states, one day the oil will run out. But its value will carry on for future generations.
The Norway Oil Fund in a Nutshell