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
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
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
Tamu Massif is a volcano the size of New Mexico and lurks 6,500 feet beneath the surface of the Pacific Ocean. During their 36 day expedition, the science team undertook a survey of immense proportions mapping an area nearly one million square kilometers in size. Not only were they able to gather new high-resolution acoustic imagery of this little known volcano, but they also collected 1.7 million magnetic measurements to better understand how such a large volcano was formed
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
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
Norway's Statoil is considering whether to end its costly search for oil and gas in the U.S. Gulf of Mexico, the company's exploration chief told financial daily Dagens Naeringsliv (DN) on Friday. Statoil has been part of several discoveries in the region as a junior licence partner
Dr. Alberto Morandi has been appointed to the position of General Manager of GustoMSC’s office in Houston. He will be responsible for running the office and will act as point of contact for GustoMSC’s U.S. clients. GustoMSC is a design and engineering firm serving the offshore
Ophir and its joint venture partners, BG Tanzania (Shell) and Pavilion Energy, have concluded the drilling of two exploration wells offshore Tanzania, safely and on time. The programme comprised Kitatange-1 in Block 1 and Bunju-1 in Block 4
Coast Guard crews medevaced two men after they were struck by a pressurized object and suffered injuries aboard a tank ship about 20 miles off the Texas Point Wildlife Refuge Wednesday afternoon. The crew of the tanker United Ambassador contacted Coast Guard Marine Safety Unit Port Arthur
CMA CGM, a leading worldwide shipping group, is pleased to announce that a new call in New Orleans will be added on its PEX3 service, which directly connects the American ports of the Gulf of Mexico, South Korea, China, Hong Kong and Singapore.
The Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper announced the bureau will offer more than 48 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development, in a lease sale that will include all available unleased areas in the
U.S. lawmakers on Wednesday slammed an agreement made with Canada to ban offshore Arctic drilling, saying Ottawa's plan to review its ban every five years gives Canada a leg up on energy exploration. U.S. President Barack Obama on Tuesday announced a ban on new oil and gas drilling
ExxonMobil subsidiary Esso Exploration and Production Guyana Limited has awarded contracts to SBM Offshore for a Floating Production, Storage and Offloading vessel (FPSO) for the Liza development and production in Guyana. Under the FPSO contracts
China’s COSCO Shipping Specialized Carriers Co. Ltd. has taken delivery of its newest semisubmersible vessel, the 98,000 dwt Xin Guang Hua – the largest of the COSCO semisub fleet and reportedly second largest in the world.
A U.S. Coast Guard helicopter crew medevaced a man after he was struck by a piece of machinery and suffered a deep laceration and possible fracture on his leg while aboard a cargo ship about 15 miles east of Galveston early Friday morning.
Chicago based Alps Wire Rope Corporation has been appointed as a distributor for U.K.-based stainless steel shackle and wire rope fitting manufacturer Petersen Stainless Rigging Ltd. Stock is currently being held for immediate delivery from Alps’ Houston location of Petersen’s
Statoil awarded licences in Mexico’s Deepwater round Statoil was awarded blocks 1 and 3 in the Saline Basin in the Deepwater exploration tender in the Mexican Round 1. The blocks cover an area of about 5,650 km2 (18,500 square miles) in the largely unexplored deepwater areas
ExxonMobil expects to deliver 7.9 million tonnes of liquefied natural gas from Papua New Guinea this year, around 14 percent above nameplate capacity of its PNG LNG plant, says a report in Reuter's quoting the company's PNG head.
Gulf of Mexico vessel operators want to see sustained, higher oil prices. After a rough two years, supply boat owners and operators in the Gulf of Mexico hope crude oil prices will improve in 2017. That would encourage activity among the offshore drillers that they service and would put
The Obama administration on Friday blocked new exploration for oil and gas in Arctic waters, in a win for environmental groups that had fought development of the ecologically fragile region. The Department of the Interior released a 2017 to 2022 leasing plan that blocked drilling in the