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
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.
Norway’s Prime Minister Erna Solberg, along with Jan Grevstad, Norwegian Ambassador to the Republic of Korea, and other Norwegian government officials, visited Hyundai Heavy Industries (HHI) to meet with Choi Kil-seon, chairman and CEO of HHI, and Kwon Oh-gap, president and CEO of HHI. During the meeting held at the HHI headquarters in Ulsan, South Korea, the prime minister showed particular interests in HHI that has been developing long-term business partnerships with the
The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway
The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The 2006 built vessel is expected to join the Company’s fleet in Q1 FY18.
On December 20, 2016, in an 11th hour unilateral action designed to cement his environmental legacy, President Obama withdrew 3.8 million acres in the north and mid-Atlantic Ocean and 115 million acres in the U.S. Arctic Ocean (including the entire Chukchi Sea and a significant portion of the
Norway's Statoil was the second top bidder for 13 oil exploration leases in the U.S. Gulf of Mexico and won six licences offshore Britain, it said on Thursday, in a sign it may be looking to boost reserves after slashing costs. "The importance of oil companies' ability to replenish
Two high-level indicators of vessel and structure demand in the offshore sector are energy prices and oil company exploration & production (E&P) spending, says Clarksons Research. A third, slightly more specific indicator is estimated offshore project capital expenditure
Last month, a large cruise ship completed its inaugural cruise through the Northwest Passage. The historic journey brought nearly 1,700 passengers from Seward, Alaska, past the rugged wilderness and isolated villages of the Arctic, to the concrete jungle of New York City
Woodside completed the transaction to buy 100% of the shares in ConocoPhillips Senegal B.V. The total purchase price was US$350 million plus net customary adjustments of approximately US$90 million. Woodside CEO Peter Coleman said the acquisition was an exciting addition to Woodside’s
Great Eastern Shipping (GES) Company posted a 23.9 per cent decline in consolidated net profit at Rs 268.7 crore ($40 million) for the second quarter ended September 30, 2016, reports PTI. The company had posted a consolidated net profit after tax of Rs 353
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
The African continent accounts for 16% (490) of active offshore fields and 17% (535) of offshore fields that are either under development or are potential developments globally, says Clarksons Research. It is also home to key offshore exploration frontiers.
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
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
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
Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad
Keppel Offshore & Marine subsidiary Keppel Shipyard Ltd is on track to deliver a floating production storage and offloading (FPSO) vessel to Yinson Production (West Africa) Pte Ltd (Yinson), a subsidiary of Yinson Holdings Berhad, marking the first FPSO delivery of 2017.