Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast. The discovery could put Guyana on oil and gas Map and the country could become a player in the oil marketplace. However, it will take months to ascertain the size and commercial potential of this discovery. And there could be issues, as the waters also claimed by Venezuela as part of a long-running border dispute between the South American countries. But oil discovery offshore Guyana is the most exciting thing happening in terms of Latin America exploration right now. On Tuesday, Exxon Mobil Corporation announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet (5,433 meters) in 5,719 feet (1,743 meters) of water. Stabroek Block is 6.6 million acres (26,800 square kilometers). “I am encouraged by the results of the first well on the Stabroek Block,” said Stephen M. Greenlee, president of ExxonMobil Exploration Company
According to Rigzone, Gulf Capital has acquired, as part of a large investment consortium, a 21% stake in Maritime Industrial Services Co. (MIS) was acquired as part of a larger private placement that raised $80 million for MIS on the Norwegian over the counter (OTC) market. The private placement will enable MIS, which provides a fully integrated onshore and offshore engineering, procurement, fabrication, construction and shipyard service
Venezuela has given the state-owned Petroleum Company of Trinidad and Tobago, also known as Petrotrin, approval to enter a joint venture to explore an offshore oil field near the maritime border of the South American nation with Trinidad. Petrotrin reportedly would take a 50 percent interest in the Gulf of Paria East block, a stake that was previously held by Enron Corp., the Number one U.S. natural gas and electricity marketer. No financial details of the deal were immediately available
Lloyd's Register (LR) won a contract to provide Maersk Oil with a comprehensive suite of risk-management services to support the offshore operator’s commitment to meet global demand for energy in an efficient, safe and environmentally responsible manner. The agreement requires Lloyd’s Register to support Maersk Oil’s global management of four key areas of operational risk -- hazard identification and risk assessment (HIRA), accident and incident investigation
Listed on the SGX Mainboard and Asia Pacific’s leading marine, offshore supply and logistics player, Sinwa Limited (“Sinwa” or “the Group”), announced that the Group received confirmation yesterday that its wholly-owned subsidiary, Sinwa Offshore Pte. Ltd. (“SOPL”) has incorporated Sinwa (Thailand) Ltd. (“STL”) in Thailand on 18 June 2014. Commenting on the Group’s successful venture into Thailand, Mr
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 $96.37 million (SGD 132 million) a year ago. Turnover dipped 10 percent during this period to $882.0 million (SGD 1.208 billion) compared to $979.10 million (SGD 1.341 billion) in 2Q 2014
Increased spending on offshore exploration & production (E&P) of oil and gas has increased order-book positions of Indian shipbuilders. ABG Shipyard has an order backlog of Rs 1,300 crore, while Bharati Shipyard has pending orders worth Rs 676 crore on its books. The jump in order books is getting reflected in stock prices of these companies as well. BSL has seen its market cap soar to almost Rs 900 crore from Rs 309 crore at the beginning of 2005
Crowley Maritime Corporation Saturday christened and launched barge 455-2, the second of three Heavy Lift 455 Series flat-deck barges that will be built and delivered to Crowley this year by Gunderson Marine in Portland, Oregon. The three 400-foot by 105-foot-wide deck barges are being built to handle project work for the offshore energy industry - primarily in the Gulf of Mexico. The addition of these vessels helps to expand and keep current Crowley's fleet for customers of the company's
Crowley Maritime Corporation's technical services group has awarded a construction contract to Gunderson Marine of Portland, Oregon to build two additional Heavy Lift Series 400 x 105-ft. deck barges. Once complete, these barges will handle project work for the offshore energy industry in the Gulf of Mexico and elsewhere and will expand Crowley's fleet of this type barge to five. Gunderson is the same company that built the first three barges in the series - the Marty J
Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves, the second of a total three identical Seismic Research Support Vessels. Once the third of these so-called offshore chasers will join the fleet in January 2015, all of Groen’s five custom built chasers will have been built by Damen yard Maaskant.
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its new building Kamsarmax dry bulk carrier "Jag Arnav". The vessel of about 81,600 dwt was built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines.
Oil explorer Cairn Energy has dropped plans to drill near Spanish holiday island Ibiza, the company said, as it wants to focus on developing potentially huge reserves offshore Senegal. Cairn was set to carry out seismic testing on four offshore blocks in the Gulf of Valencia but has
Indian shipping company Great Eastern Shipping has announced that its wholly owned subsidiary, Greatship, has sold and delivered anchor handling tug supply (AHTS) vessel Greatship Akhila (7,080 bhp, built 2009) to unnamed buyers.
Beijing and Moscow discussed the potential participation of Chinese companies in natural resources exploration in Russia's Arctic, a senior Chinese Foreign Ministry official said on Wednesday. Russia has been struggling to speed up oil and gas exploration in resource-rich offshore Arctic areas
Statoil was today awarded new exploration acreage through the Aru Trough I licence offshore Indonesia. The licence covers an area of approximately 8,300 square kilometres, adjacent to Statoil’s existing exploration acreage in the Aru and West Papua IV licences
The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas exploration in the Arctic since it suffered mishaps in the region in 2012.
"Shell wants activists off its rig. We want Shell out of the Arctic," says Annie Leonard, Greenpeace USA’s Executive Director. Attorneys for Royal Dutch Shell PLC on Tuesday sued in federal court to remove six Greenpeace activists who boarded a vessel carrying an
French oil and gas giant Total has pulled out of a deepwater block in offshore Oman after failing to make commercially attractive discoveries, a senior Omani official told reporters on Monday. Nasser Al Aufi, undersecretary at the Ministry of Oil and Gas
Abu Dhabi National Oil Company (ADNOC) plans to invest around US$25bn over the next five years in a bid to boost oil production from offshore fields. The investment is part of the UAE's strategy to increase its crude oil output potential from its current production of 2
In 2014 Gazprom Group (excluding Gazprom Neft) performed exploratory drilling of above 125,000 m of rocks, constructed 32 prospecting and exploratory (7 and 25 accordingly) wells. Over six thousand linear kilometers of 2D seismic profiles were processed
The city council of Savannah, Georgia on April 30 unanimously approved a resolution opposing offshore seismic testing and oil drilling activities, the Savannah Morning News reported. The city’s opposition comes as the U.S. Bureau of Ocean Energy Management (BOEM) is trying to open
Classification society American Bureau of Shipping (ABS) hosted its Annual Meeting in New York on April 28, 2015. “2014 was a year of firsts and excellence in performance for ABS,” said Christopher J. Wiernicki, ABS chairman, president and CEO
Petrobras’ Exploration and Production Director, Solange Guedes, received the OTC Distinguished Achievement Award for Companies, Organizations and Institutions, the highest recognition that an oil company can be given as an offshore operator
Vessels are stacked as Gulf oil operators retrench and day rates fall. In the Gulf of Mexico, vessels serving offshore oil-and-gas exploration and production are being stacked or idled as the rig count there declines. Oil companies are retrenching while crude prices remain weak
Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin. Statoil will be the operator with 85 percent equity with the Empresa Nicaraguense del Petroleo (Petronic) participating with