Following a nearly complete shutdown of the oil and gas business in the Gulf of Mexico in the wake of Hurricane Katrina, signs indicate a comeback is starting, slow but steady. According to a Reuters report, oil and gas operations recovered slowly on Wednesday, with oil companies struggling to contact all of their workers and assess damage to rigs. Refinery progress was slow but steady. Three of eight refineries that Katrina completely shut have returned either full or partially, including Marathon Petroleum Co. LLC's large 245,000 barrels per day (bpd) plant in Garyville, Louisiana. Offshore, oil and gas production has also been on the rise after Katrina shut nearly all output. Government figures as of Tuesday showed 58 percent of the Gulf's crude production and 41 percent of its gas production remained shut down. The U.S. Coast Guard has said a total of 56 Gulf offshore platforms have been lost or damaged. Reuters reported that natural gas production this year will drop by about 1.5 percent, according to the U.S. Energy Information Administration.
Oil and natural gas production from the storm-battered Gulf of Mexico continues to recover, Reuters reports. Around 727,000 barrels per day, or 48.47 percent of the Gulf's 1.5 million bpd of crude production, remained shut, along with 3.742 billion cubic feet per day, or 37.42 percent of the region's natural gas output, the report said. The complete recovery of the region's energy operations will take until the middle of 2006, about three months longer than previously estimated
ODS-Petrodata, a provider of market intelligence for and about the offshore oil and gas industry, commercially launched FPSbase, a web-based tool providing data on the world's floating oil and gas production systems. FPSbase is designed to track all forms of floating production systems, including FPSOs, FSOs, TLPs, spar-shaped and semisubmersible units; and to deliver analysis of upcoming project tenders, available FPS supply, and current and future demand
According to Thomson Financial, the Indonesian government launched a tender for 26 oil-and-gas blocks to boost the country's oil and gas production. The oil and gas blocks that were offered today include the Bawean II, East Bawean I, Situbondo, and the North East Madura blocks onshore and offshore East Java province, as well as the South Barito (onshore and offshore) and Mahakam Hilir (onshore) blocks on Kalimantan island. [Source: Thomson Financial]
Norsk Hydro ASA has reduced its oil and gas production target for 2007 by 3.3 percent, to 585,000 barrels of oil equivalents per day (boed) from 605,000 boed, due in large to revised production forecast for several non-Hydro-operated fields on the Norwegian Continental Shelf, including Kvitebjørn, Kristin and Volve.
The Minerals Management Service (MMS) announced production of offshore oil and gas in the deepwater (greater than 1,000 ft deep) portion of the Gulf of Mexico (GOM) reached an all-time high in 1998 and continues to escalate rapidly. Production of oil from the deep water has risen 279 percent in the last five years, and deep water gas production rose 252 percent. According to MMS Director Walt Rosenbusch, "The 1998 increase is significant and of national importance
Northern Offshore Ltd., a Bermuda holding company which operates offshore oil and gas production and drilling vessels, said that the company's drillship Energy Searcher has resumed operations in under its drilling contract with Vietgazprom, according to a report on Trading Markets.com This follows repair work on the drillship, carried out in at an estimated cost of some $4.6m. (Source: Trading Markets.com)
Louisiana’s governor warned that the state would not support future offshore lease sales in the Gulf of Mexico unless Louisiana gets a share of the federal royalties generated by oil production there. Under a federal law that governs offshore drilling, governors in adjacent states are required to agree that federal lease sales are consistent with their states' coastal management plans. Louisiana governors have traditionally signed off on such lease sales
Employees of Shell Exploration & Production who evacuated from New Orleans before Hurricane Katrina will come back to the city soon, according to a BizNewOrleans report. Former Louisiana Senator John B. Breaux has attempted to step up pressure on Congress to give Louisiana a larger share of oil and gas revenues from offshore production activity as a means of funding the recovery from the hurricane and flood. Breaux has proposed creating the Louisiana Oil Producing and Energy Cooperative with
Keppel Offshore & Marine Limited (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), has acquired a 27.77% stake (250,000,000 shares) in topside module fabricator Dyna-Mac Holdings Ltd (Dyna-Mac) via an equity placement. This follows Dyna-Mac's successful listing on the main board of Singapore Exchange Securities Trading Limited (SGX) today. KSI's total investment is S$87.5 million based on the invitation price of 35 cents per share.
The Bureau of Safety & Environmental Enforcement (BSEE) will host a public forum on offshore energy infrastructure hurricane preparedness and response on Thursday, June 27, 2013, as part of its efforts to improve the safety of offshore oil and gas operations.
Effective June 1, Mitsubishi Heavy Industries, Ltd. (MHI) will establish LNG Project Management Department, within the Environmental and Chemical Plant Project Management Division of the Company's Engineering Headquarters. The new department will be dedicated to market exploration of LNG
The Rt Hon Edward Davey MP, Secretary of State for Energy and Climate Change, joined GDF SUEZ E&P U.K. in Aberdeen yesterday to witness the signing of another major contract with the U.K. supply chain for the Cygnus project. The deal with Burntisland Fabrication Ltd (BiFab) to construct
Petrobras’ plans to build a center of excellence for the shipbuilding industry in Brazil were highlighted in the presentation made by Paulo Sergio Rodrigues Alonso, Petrobras Local Content Advisor to the CEO and the Executive Coordinator of Prominp
Petrobras plans to build the center, which is intended to help shipbuilders meet the company's pre-salt oil & gas exploration needs. The plans to build a center of excellence for the shipbuilding industry in Brazil were highlighted in the presentation made by Paulo Sergio Rodrigues Alonso
Royal Boskalis Westminster wins a Shell Philippines Exploration contract to install an offshore Depletion Compression Platform. The contract to be executed for the Malampaya Project off the coast of Palawan Island, in the Republic of the Philippines, includes seabed preparation, rock installation
ABB to acquire Los Gatos Research (LGR) adding a new line of high-performance gas analyzers to its measurement business. Los Gatos Research (LGR) of Mountain View, California, is a 19-year-old, nearly 40-person company that provides analyzers and services to a wide range of customers needing
As part of the Obama administration’s ongoing efforts to strengthen the oil and gas industry’s ability to respond in the event of a deepwater blowout and ensure that offshore oil and gas production can continue to expand safely and responsibly
Mark Mellinger, President of Headhunter, Inc., announced that the company’s Tidal Wave HMX Model 8202 sewage treatment plant was completed and exported to China for installation on the Panyu PY34-1 CEP, a $205 million gas production platform under construction in Qingdao by China Offshore
Eni, the international oil and gas company, released its group results for the first quarter of 2013 (unaudited). Financial Highlights • Adjusted operating profit: €3.79 billion, down 36% excluding Snam contribution to the first quarter of 2012 3;
August Auction to offer all Unleased Acreage in Western Gulf of Mexico As part of President Obama’s all-of-the-above energy strategy to continue to expand domestic energy production, Secretary of the Interior Sally Jewell and Acting Assistant Secretary for Land and Minerals
MAN Diesel & Turbo, Switzerland, signs to provide Norway's Statoil with new subsea compressor equipment & maintenance services. The Zurich-based MAN Diesel & Turbo Schweiz AG and Statoil have followed a joint subsea compressor qualification programme since 2005
Rising energy demand from Asia Pacific countries is a key factor driving the growth in regional offshore oil and gas exploration and production (E&P) activities. In response to this, The Royal Norwegian Embassy in Singapore, Innovation Norway in alliance with DNV and Norwegian Business
Adoption of, and interest in, LNG-as-fuel for ships is gathering pace but challenge is as much in safe bunkering and port operations as in ship design. LNG bunkering guidance is one of the key subjects addressed in LR’s latest Gas Technology Report.
Paolo Scaroni updated the Minister of Energy on the progress of ongoing projects, which are considered strategic for both Eni and the Indonesian Republic The Indonesian Minister of Energy, Jero Wacik, and Eni’s CEO, Paolo Scaroni, met today in Jakarta to discuss Eni’s activities in