"Over the next five years it is expected that 15,000 offshore wells will be drilled worldwide, at a total cost of some $189 billion. Of these wells nearly 4,500 will be exploratory costing $75 billion, and around 10,500 will be development, costing $114bn. It is estimated that drilling and completion expenditure in 2003 was $36 billion. Spending levels are expected to grow somewhat over the next two years and then decline slightly, stabilising at about $37 billion per year." These are among the findings of the second edition of The World Offshore Drilling Report, published by Douglas-Westwood. Going Deeper The largest change that is forecast by the energy analysts is continuing growth in deepwater drilling (over 500 m water depth) which contrasts with a long-term decline in shallow water activity. "In the last decade reductions in available shallow water drilling opportunities have been counter-balanced by increasing deepwater activity. On average around 3,000 to 3,200 offshore wells are drilled each year of which 12 percent are now in deepwaters. These are expected to increase to around 17 percent of all wells drilled in 2008, with $56bn (30 percent of the total) forecast to be spent globally on drilling and completing deepwater wells over the next five years. This is an increase from $37bn (22 percent of the total) in the previous 5-year period," said study author, Dr. Michael R. Smith of EnergyFiles Ltd.
The entire United States (and anyone else in the world with access to cable or for that matter any TV) has become intimately involved in what is sure to become the seminal event of our time. The World Trade Center terrorism will change all of our lives in some respect from the day of the event onward. The only question is how much our lives will be changed. Even after the current threats pass our lives will ever be altered
Total reportedly launched its second Nigerian deep water drilling project, scheduled to come on stream in 2012 and expected eventually to yield 180,000 barrels a day, according to an AFP report. The new Usan project follows Total's first Nigerian deep water investment, the Akpo field. Deep water fields are further out to sea than offshore fields in shallower waters nearer the coastline. The new field will be operated by Elf Petroleum Nigeria Limited, a Total subsidiary
Ottawa, Ontario – May 2, 2011 – Marport Deep Sea Technologies Inc., a leading developer of advanced sonar technology for commercial and military applications, is pleased to announce the opening of a new office in Kanata, Ontario. Known as "Silicon Valley North", Kanata boasts a strong and vibrant high tech community and is within a 20 minute drive of downtown Ottawa. The new office will provide engineering and sales support to Marport’s commercial, government
The oil and gas expanded the offshore drilling frontier in the Gulf of Mexico. Already one of the most explored basins in the world, the Gulf of Mexico’s deepest hydrocarbon deposits will be auctioned off later this year, the result of political maneuvering in the waning moments of the last Congress. This new area will attract interest from companies with deep pockets and lots of patience, according to industry experts.
M/V Juanita Candies was successfully delivered to Otto Candies, Inc. The vessel immediately departed Mobile en route to Fouchon, La. to go on long-term charter to Conoco in support of their deepwater drilling program. Both Agnes Candies and Juanita Candies have gone to work on high profile, deep water drilling projects, which is exactly the kind of work they were designed to perform. Feedback from the Candies operations people confirm the vessels are performing their mission well
International classification society Bureau Veritas has extended its classification rules to include the items of drilling equipment which are essential for the safety of offshore drilling operations. These rules cover well control equipment including Blow-Out Preventers, marine risers, tensioning systems, heave-compensation systems, drawworks, mud circulating systems, cementing equipment, drilling derrick and supporting structures
Norwegian satellite equipment provider Nera SatCom AS, together with Inmarsat, introduced the new Nera F33 product concept to the maritime market. The Nera F33 will fill the gap between the existing Inmarsat Mini-M service /Nera WorldPhone and the global Inmarsat Fleet 77 service / Nera F77. The new Nera F33 is based on the Inmarsat Fleet F33 service concept, providing the light marine market with improved data communications from equipment suitable for the demands of today’s commercial
China will finish its first deep-sea drilling rig with a maximum working depth of three kilometers by 2011, a spokesman for China National Offshore Oil Corp. (CNOOC) said. The maximum drilling depth will reach 12 kilometers, which means it can operate in deep-water regions in the South China Sea, Southeast Asia, Gulf of Mexico and West Africa. The project, with a total investment of $599m, will be carried out by Shanghai Waigaoqiao Shipbuilding Co. under China State Shipbuilding Corporation
Nigeria's deep offshore fields showed more promise for oil finds than fields closer to shore, a senior Nigerian official said. Of the 18 wells drilled recently in Nigerian waters less than 1,000 m deep, 11 were dry. Of the 11 drilled in water over that depth, only two were dry, Funsho Kupolokun, special adviser on oil to Nigerian President Olusegun Obasanjo, said. Kupolokun said Nigeria expects to extract up to 850 trillion barrels from only four of its deep offshore fields
Kobelt announced today the hiring of Lance Lidstone and Sylvain Robitaille as Business Development Managers. Both will report directly to David Bockhold, CEO, and will be responsible for business development in the controls and steering sectors worldwide.
The Port of Erie is located on the southeast shore of Lake Erie in a natural bay formed and sheltered by Presque Isle peninsula. Its harbor entrance channel is narrow and 29 feet deep. Dredging is a constant concern. In fact, dredging of harbors around the Great Lakes has been a hot button issue
The Columbia/Snake River System defines shortsea shipping, and promises much, much more. Lewiston, Idaho, is perhaps best known to tourists as the turnaround for a Columbia River cruise or the jumping-off point for a trip to Hell’s Canyon, North America’s deepest gorge
Royal Boskalis Westminster N.V. (Boskalis) announces that it has reached an agreement to acquire Fairmount Marine B.V. and Fairmount Ocean Towage Company B.V. (Fairmount) from the French group Louis Dreyfus Armateurs. The transaction values the company at an average multiple of approximately six
Singapore-based Otto Marine inform it has named the 'Norshore Atlantic' – which it considers to be the first vessel of its kind to be constructed in Asia – at its Batam Shipyard in Indonesia. The new offshore service vessel has been built to the MT6022XL Norwegian design
By Balazs Koranyi, Reuters The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms.
The U.S. Navy is mapping out how to expand its presence in the Arctic beginning around 2020, given signs that the region's once permanent ice cover is melting faster than expected, which is likely to trigger more traffic, fishing and resource mining.
MacGregor, part of Cargotec, says it has acquired Norwegian privately-owned Deep Water Solutions AS, a company specialising in lifting applications utilising electric multi-drive technology. "Customer requirements for environmentally friendly solutions are increasing in offshore load
Indian Navy chief Admiral D.K. Joshi resigned from his position, hours after a submarine mishap off Mumbai coast in which seven sailors were injured and two officers went missing, reports Xinhua. The Indian Defense Ministry has accepted the resignation of 59- year-old Admiral Doshi
As appears in the February edition of Marine News Now clear of the holidays and into an already exciting 2014 on the waterfront, we find ourselves plowing ahead with the proverbial bone in our teeth. That’s because, beyond my questionable nautical metaphor
Douglas-Westwood has launched the first of a new suite of quarterly products which provide unparalleled insight into global oil & gas drilling & production (D&P); the core driver of oilfield services and equipment markets worldwide
As part of ongoing research nearly four years after the Deepwater Horizon oil spill, scientists from the Woods Hole Oceanographic Institution (WHOI) will team up with a group of high school students in Florida to collect remnants of oil from Gulf Coast beaches this week.
Inchcape Shipping Services (ISS) warned that this week’s industrial action by truck drivers serving Port Metro Vancouver is expected to severely impact Canada's largest and most diverse port. A strike notice has been issued to the port authority by the United Truckers Association
MacGregor, part of Cargotec, saidi it won an order for two subsea cranes from South Korean shipyard Hyundai Heavy Industries Co Ltd. The active heave-compensated cranes will have an SWL of 100 and 25 metric tons, respectively. They will be fitted on board a new 160-meter heavy construction vessel
Cargo movement technology experts Navis inform that DP World’s Terminales Rio de la Plata (TRP), the largest container facility in Argentina, successfully went live on the Navis N4 terminal operating system (TOS). A Navis SPARCS and Express customer since 1994