According to a report from Reuters, state-run Bangladesh Oil, Gas and Mineral Corporation clinched a preliminary deal with U.S. firm ConocoPhillips on Oct. 10 for oil and gas exploration in the Bay of Bengal, subject to signature of a production sharing agreement. ConocoPhillips will start seismic surveys and exploration around two deepwater gas blocks after signing the PSC. The deal, concluded after two years of talks, is intended to address acute gas shortages, with production hovering at around 2,000 million cubic feet per day against demand of about 2,500. (Source: Reuters)
Soma Oil & Gas Exploration Limited, the Somalia focused oil and gas exploration company, announced the completion of its offshore seismic acquisition programme which commenced in February 2014. The seismic acquisition programme was carried out by SeaBird Exploration (“SeaBird”) and concluded in June 2014 with over 20,500 km lines of 2D seismic data having been acquired across a 122,000 sq km offshore evaluation area
Devon Energy Corporation, a U.S.-based oil and gas exploration, development and production company, sold its producing Panyu field located offshore China to China National Offshore Oil Corporation. China National Offshore is a state-owned oil and gas producer in China. In April, Devon Energy said it had agreed to sell its producing Panyu field located offshore China to China National Offshore for $515m. During 2009, Devon's production from the Panyu field was approximately 12 thousand barrels
Oil and Gas Exploration industry alert provided by U.S. Equity News. ENSCO International Incorporated announced recently that its Contract Status of Offshore Rig Fleet Report has been updated as of Monday December 17, 2007. The Report is available on the Company's website at http://www.enscous.com and can be accessed from the home page by clicking on "Rig Contract Status." The Report also can be accessed through the SEC EDGAR System
Polar Petroleum Corp. appointed Mr. Donald W. Brizzolara to the Company's Advisory Board as Chief Geological Advisor. Mr. Brizzolara represents 25 years of experience in oil and gas exploration and development, geology and consulting experience for firms such as ConocoPhillips and Shell. Of particular importance to the Company, Mr. Brizzolara's background includes work on the Prudhoe and Kuparuk fields, which, together constitute the majority of the oil production on the North Slope (51%
A new research report from Transport Intelligence (Ti) has suggested that due to a wave of new investment, the scope and structure of oil and gas exploration and production (E&P) has broadened extensively over the past decade, creating an array of opportunities for logistics service providers. This is, in part, due to the emergence of substantial E&P activity in new locations which acts to drive up logistics spend
Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental directive in allocating licenses. The government is considering an appeal against the judgment on the basis that it is not taking into account the Commission's Habitats Directive in issuing exploration licenses. A spokesman said the government had been planning to issue new licenses in its 19th round early in 2000
About 80 percent of India's sedimentary basins with potential for oil and natural gas reserves remain unexplored, energy experts have said at the Oceantex Offshore Conference and Technology Exposition. According to conference speakers, India's demand for hydrocarbons was steadily increasing, putting additional pressure on oil companies and the government. The demand for crude oil was set to reach 170 million metric tons of oil equivalent (MMTOE) while production will reach only 58 MMTOE by
Ukraine's NJSC Naftogaz signed a memorandum of understanding with U.S. Frontera Resources on the construction of a liquefied natural gas (LNG) terminal in Ukraine, according to Ukrainian Prime Minister Arseniy Yatsenyuk. "U.S.-based Frontera will begin the construction of an LNG terminal and launch natural gas shipments to Ukraine through this terminal," Yatsenyuk said. He added that the project
China's seas will contribute $433b or more than five percent of the country's gross domestic product (GDP), in 2010, according to a report on China's marine development. The report, issued on Friday by the State Oceanic Administration (SOA), also predicted the country's offshore crude oil output would exceed 50 million tons. It said China's current offshore oil and gas exploration was "still in an infant stage", with 80 percent of oil and gas resources yet to be tapped.
European oil major Total has agreed to supply 500,000 tonnes a year of liquefied natural gas (LNG) for 10 years to China's privately-run ENN Group, Total said on Thursday. The supplies of the super-chilled natural gas will start in 2018 upon completion of ENN's planned receiving facility near
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces that in conjunction with its partners AziNam (20%), NAMCOR (10%) and Ignitus (5%), it has commenced a 3D seismic acquisition survey of approximately 2
Chinese shipping major Sinotrans has signed with Greek shipowner Dynagas and China LNG Shipping (CLNG) for the joint purchase of five Arctic-class LNG carriers from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).
Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support services for a new oil and gas exploration project in the Barreirinhas Basin in the equatorial margin of northern Brazil.
NOIA applauds Congressional action to lift ban on crude oil export, urges progress on proposed offshore well control rule Today, Congress passed the Omnibus Appropriations bill, H.R. 2029, which includes a provision lifting the existing U.S. crude oil export ban. U.S
Despite the continued depressed price of oil and gas, the U.S. Bureau of Ocean Energy Management (BOEM) via Director Abigail Ross Hopper announced that BOEM will offer 40 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development in sales that will
United States' President Barack Obama defends his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean. He insisted that there was no contradiction between his climate change agenda and Arctic drilling.
Ecopetrol reports it has established an Alliance with Japan’s JX Nippon Oil & Gas Exploration through its affiliate in Brazil, Ecopetrol Óleo e Gás to explore the FZA-M-320 block, located in shallow waters of the Foz Amazonas basin on the equatorial margin of the
The U.S. Bureau of Ocean Energy Management (BOEM) said it is set to conduct a Gulf of Mexico Western Planning Area Lease Sale 246 on Wednesday, August 19 at the Mercedes-Benz Superdome in New Orleans. Doors open at 7:30 and bid reading begins at 9 a.m. CDT.
China and Russia will hold joint naval and air defence drills in the Sea of Japan, China said on Thursday, the latest exercises between the two countries which could concern Japan, involved in a marine dispute with China to the south. The manoeuvres also come as the United States ramps up
Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries, according to international learning technologies company Atlas Knowledge.
China said on Friday it had every right to drill in the East China Sea close to waters disputed with Japan, adding that it did not recognise a "unilateral" Japanese median line setting out a boundary between the two in the waters.
Recently, Pilita Clark, the Environment Correspondent at the Financial Times, wrote a very interesting article about a new report, ‘The New Climate Economy’, which I would highly recommend reading. The New Climate Economy was commissioned in 2013 by the governments of seven countries:
Japan called on China on Tuesday to halt construction of oil-and-gas exploration platforms in the East China Sea close to waters claimed by both nations, concerned that Chinese drills could tap reservoirs that extend into Japanese territory.
Five nations set moratorium on fishing near North Pole; no fish there now, but thaw is drawing stocks north. The United States, Russia and other Arctic nations signed an agreement deal on Thursday to bar their fishing fleets from fast-thawing seas around the North Pole