Several of the world's largest oil companies hope to tap into possible offshore oil and gas reserves as Greenland opened a new round of concessions for exploration licenses in the fragile Arctic region. Eyes of an oil-thirsty world have turned to the shores of the semiautonomous Danish territory amid rising fuel prices, Mideast instability and concerns over future supplies. The Greenland government hopes to make big gains from any reserves found in its icy waters, but environmentalists say oil exploration there could damage a sensitive region already under threat by global warming. The names of companies attending the meeting and what conditions the Greenland government would put forth for exploration in the Disko Bay- the area being opened for the current round of concessions- remained undisclosed. Oil exploration off west Greenland started in the 1970s but stopped after five failed drilling attempts. Activities resumed in 2001 off Nuuk, the Greenland capital. Canadian company EnCana last year became the first company to win a license for offshore oil and gas exploration off Nuuk.In 2008, Calgary, Alberta-based EnCana is expected to start drilling in areas believed to have reserves ranging from 400 million to 1.2 billion barrels of oil. (Source: Houston Chronicle)
The Offshore Technology Conference (OTC) board of directors elected the 2004-2005 chairman and vice-chairman during this year’s event that took place 5-8 May at Reliant Center at Reliant Park in Houston. Members of the OTC Board are appointed to four-year terms by their respective society or organization. The OTC Board includes 13 representatives, 11 from OTC’s sponsoring organizations and two from OTC’s endorsing organizations
Timely payment of royalties and accurate reporting have earned four energy companies the Mineral Revenues Stewardship Award, the Department of the Interior’s Minerals Management Service (MMS) announced today. The oil and gas industry places a high value on the award. “We are recognizing these companies for their exceptional performance in production reporting and timely payment of royalties to the Federal Government,” MMS Director Johnnie Burton said
According to a May 13 report from Bloomberg, a regulatory crackdown on offshore oil drilling after the fatal rig explosion in the Gulf of Mexico will delay development of U.S. deposits with billions of barrels of crude and may spawn industry job cuts. BP Plc, ConocoPhillips, Petroleo Brasileiro SA, Cobalt International Energy Inc. and Plains Exploration & Production Co. are among explorers with projects on hold in the Gulf or coastal California after the April 20 explosion prompted federal
Technip awarded Murphy Exploration & Production Co. contract for development of Dalmatian Field in Gulf of Mexico. The lump-sum contract is for work at a water depth ranging from 530 to 1,800 meters on a field jointly owned by Murphy and Ecopetrol America Inc., comprised of the De Soto Canyon Blocks 4, 47, 48 and 91. The project consists of a subsea tie-back to an existing Gulf of Mexico platform. The contract covers: project management, engineering
Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. Competing service companies including National Oilwell Varco Inc and Weatherford International may also be targets, bankers and lawyers said. In any deal, the incentives will be the same: consolidation would allow them to better weather the downturn and
Marine industry operations will grow and develop with highly trained workers as a result of the expansion and upgrade of the Full Mission Ship Simulator operated by the Texas Maritime Academy. The improvements were made possible by a $250,000 grant to Texas A&M University at Galveston by Houston Endowment Inc., a philanthropy endowed by Mr. and Mrs. Jesse H. Jones. Mike Kemp, vice president and CEO of the campus, said this funding will significantly assist the university in complying with
Fifteen offshore energy companies have been named national finalists for the Department of the Interior’s 2006 Safety Awards for Excellence (SAFE) competition. Sponsored by the Minerals Management Service (MMS), the SAFE awards are presented annually to Outer Continental Shelf (OCS) oil and gas operators and contractors who achieve excellence in safety and pollution prevention. Established in 1983, the SAFE Awards recognize and honor companies making concerted efforts to train and motivate
Under the Technology License Agreement, BP will make available technical information that PEMEX E&P can use. Petroleos Mexicanos Exploration and Production (PEMEX E&P) and BP's agreement is for the latter to share the technical information it used to build its own global deepwater well-capping equipment. Under the Technology License Agreement, BP will make available technical information that PEMEX E&P, one of four subsidiaries of PEMEX, can use
Bibby Offshore, subsea services provider to the oil & gas industry, says it has hosted a visit by George Osborne, Chancellor of the Exchequer, to the Company’s workshop, storage and maintenance facility in Aberdeenshire, Scotland. The Chancellor was given a tour of Bibby Offshore’s new 50,000 sqft state-of-the-art Westhill facility, The Hangar. His visit follows the Company’s recent investment into its facilities; including the installation of a 16 tonne Gantry Crane
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.
Protestors rappelled off a bridge in Portland, Oregon on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return of a ship to Alaska that holds emergency equipment. Greenpeace said 13 protestors lowered themselves from the St
Low oil prices and muted sentiment in the industry continued to take a toll on Sembcorp Marine's second-quarter earnings. The rigbuilder has announced that net profit for the three months ended June 30 sank 17 per cent to to $79.58 million (SGD 109 million), compared to $96
The West Gulf Maritime Association (WGMA) is urging its members with ships arriving at any port in the western US Gulf to participate in the Menhaden survey. The annual Menhaden spawn (typically April through October) has created challenges for ships transiting local waterways
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
Maersk Drilling has been awarded a 5-year contract extension for the semi-submersible Heydar Aliyev rig with BP Exploration (Shah Deniz) Limited acting as Operator of the Shah Deniz field . The rig will continue working on the development of the Shah Deniz field in the Caspian Sea
A section of a key Gulf Coast waterway was shut after two barges collided Monday, setting one afire and possibly spilling a gasoline additive near the entrance to the Houston Ship Channel, the U.S. Coast Guard said. The Intracoastal Waterway (ICW)
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.
The U.S. Coast Guard has fully reopened the Intracoastal Waterway (ICW) near Bolivar Peninsula, Texas Monday at 9:15 p.m. Monday, after closing it for a barge collision earlier in the day. At approximately 1:20 a.m. Monday, a collision occurred at ICW mile marker 349 involving two
The U.S. Interior Department on Wednesday granted Royal Dutch Shell two final permits to explore for crude in the Arctic this summer, but said the company cannot drill into the oil zone until required emergency equipment arrives in the region.
A piece of legislation aiming to stop offshore Arctic drilling was introduced last week by Oregon Senator Jeff Merkley. The legislation, entitled Stop Arctic Ocean Drilling Act of 2015, would prevent new or renewed leases for the exploration, development or production of oil
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.
After extensive review and under a robust array of safety requirements, Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno today announced that Shell has received conditional approval of two Applications for Permits to Drill (APD) to conduct limited exploratory
Seabed Geosolutions will soon mobilise for the variation order that was signed today by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey. The survey is over the Ghasha-Butini field, will take around 12 months and has a value of around USD 125
A small section of the Upper Houston Ship Channel was closed Tuesday morning after a report of 1,000 gallons of diesel entered Greens Bayou from a cement facility, the U.S. Coast Guard announced. Coast Guard Sector Houston-Galveston watchstanders received the initial report at 7:13 a.m