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
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
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
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
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
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.
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
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
NOIA President Randall Luthi released the following statement after the House of Representatives passed the 2017 Interior and Environment Appropriations bill: “NOIA applauds members of the House of Representatives for passing the first Interior and Environment Appropriations bill since
Oman Oil Company Exploration & Production LLC (OOCEP) shipped its first crude oil cargo from the Musandam gas plant (MGP) with the support of UAE-based Marsol International. OOCEP, a subsidiary of Oman Oil Company S.A.O.C exported 300,000 barrels of crude oil as part of the operation
Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, is introducing a new Partner Solutions initiative to develop and deliver added value for customers across the globe. ISS Partner Solutions will focus on the company acting as a sub-contractor to new
Cypriot President Nicos Anastasiades has said that building an LNG terminal in Cyprus will depend on discoveries and the results of the country’s third licensing round. Discussing the Cyprus Exclusive Economic Zone’s third licensing round
Oil firm Statoil is looking to a rebound in exploration activity offshore Norway in the next few years with a focus on the Arctic, having curbed activity due to the oil price slump, the firm's exploration chief for Norway told Reuters.
Leading maritime exhibition offers gateway to maritime and offshore opportunities in Iran Europort has become the official and exclusive international partner of IRANIMEX, the leading maritime & offshore exhibition in Iran. The agreement brings together the brand behind the maritime
Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time. The move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity. “A consortium comprising of PGS, TGS and Schlumberger WesternGeco
Russian oil producer Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, it said on Wednesday. It is Rosneft's first individual international offshore drilling project as an operator, Russia's largest oil producer said in a statement.
Indian shipping trade union the National Union of Seafarers of India (NUSI) has asked the Indian Ministry of Shipping for financial help toward the training of maritime workforce in oil exploration activities. The union’s General Secretary, Abdulgani Serang
Oil majors Statoil and ExxonMobil have been awarded six options to search for oil and gas offshore Ireland in the country's latest licensing round, Statoil said on Wednesday. The two firms each hold 50-percent stakes in all the acreage
BAE Systems delivered its fourth and final of series platform support vessel (PSV) to Jackson Offshore Operators, LLC, completing a four-ship program that began in 2012. Motor Vessel Squall joins three other vessels built by BAE Systems’ Jacksonville, Florida, shipyard to support U.S
Intertek has enhanced its sample cylinders services with the aim of providing further cost savings for clients. Sample cylinders are used by offshore chemists to transport live crude, gas and water samples from offshore to onshore laboratories for testing
Statoil has signed a farm-in agreement with Tullow to acquire a 35% working interest in offshore exploration block 15 in the Pelotas basin, deepening its position in Uruguay. "With this transaction, we are increasing our exposure to the upside potential of this untested geological setting
Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, cancelled a joint venture contract with Ocean Rig UDW. In June 2014, the companies entered into a contract with Ocean Rig for the provision of the Eirik Raude for
Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in the Kingdom of Morocco.