Marine link
 

Oil Exploration

Mercator Lines to Explore Oil Offshore

Mercator Lines, is planning to expand its business portfolio by foraying into the offshore oil exploration sector. The company is looking for global partners to form a consortium to bid for Indian offshore blocks under the forthcoming round of NELP bids, apart from overseas blocks, including some of the South East Asian and Arabian Gulf blocks. It is in talks with a few European companies, sources said. Mercator Lines, which has forayed into offshore support services and is in the process of acquiring a $180m drilling rig, is aiming at forward integration by getting into the exploration business, which would also give it a captive market for its fleet of rigs and other offshore assets. The company's foray into the oil exploration segment will be spearheaded by its subsidiary, Mercator Oil and Gas Ltd (MOGL). The subsidiary had earlier initiated a foray into offshore segment by tying up with Gujarat State Petroleum Co, but the move did not result in anything concrete. Apart from offshore exploration, Mercator also has plans to get into offshore construction, including construction of platforms and pipelines, the sources said. Source: Moneycontrol.com


CNOOC to Invest $12B in Gas, Oil Exploration

The China National Offshore Oil Corporation (CNOOC) will invest $12.5b in gas and oil exploration in the next five years, CRI reported. By 2010, more than 50 new gas and oil fields of CNOOC Limited will be completed and put into production. The new fields, 24 of which are under construction and 13 under development assessment, are mainly located in East China's Bohai Sea, the Pearl River estuary and the Beibu Gulf in the South China Sea


Shell initiates Beaufort Sea Oil Exploration

Shell is planning to begin its Beaufort Sea oil exploration this summer, a state official said. The initial work will involve excavating "well cellars" from below the sea floor. The cellars, also known as glory holes, protect well equipment such as blowout preventers from ice scouring. Shell plans to start excavations in August and work only during open-water seasons -- before the ice comes in, he said. The company has acquired one drill rig, the Kullu


Interest in Offshore Exploration in Greenland Growing

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


ONGC to Finalize Shipbuilding Contract

According to a June 25 report on livemint.com, India’s biggest oil exploration company, the state-owned Oil and Natural Gas Corp. Ltd (ONGC), is expected to name within a week the winner of a tender to build 12 ships that will support its oil drilling operations. It was reported that Pipavav Shipyard Ltd, India’s newest private sector shipbuilder, has submitted the lowest bid. However, the winner will not be named ahead of a formal announcement by ONGC.


Venezuelan Navy Compels Seismic Research Ship to Enter Port

The 285-ft U.S.-chartered oil exploration ship 'Teknik Perdana' seized by the Venezuelan navy in Caribbean waters disputed with neighbouring Guyana was escorted into port at Venezuela's Margarita Island on Sunday, reports AP. Quoting Venezuelan authorities, AP said the ship's 36 crew members, including five U.S. citizens and two Brazilians, would be held on board while an investigation continued. AP note that Adm. Angel Belisario Martinez told local station Union Radio that the research ship


Greenpeace Wins Bid To Delay North Atlantic Exploration

Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental directive in allocating licenses. The government is considering an appeal against the judgment on the basis that it is not taking into account the Commission's Habitats Directive in issuing exploration licenses. A spokesman said the government had been planning to issue new licenses in its 19th round early in 2000


Oil Chiefs Justify Profits

According to a Financial Times report, top oil executives recently rejected allegations by some lawmakers that the oil industry was making record profits at the expense of US consumers, emphasizing the high level of investment the companies make to ensure supply and the limitations that have been set by Washington on oil exploration and development within the US. ExxonMobil executives met with lawmakers at a rare joint hearing of the energy and commerce committees


CNOOC Ltd 2010 Business Strategy

CNOOC Limited announced a summary of its business strategy and development plan for the year 2010. The total targeted net production of the company in 2010 is 275 million to 290 million barrels of oil equivalent (BOE) (assuming with WTI at $75/barrel). The company’s net production for 2009 is estimated to be 226 million to 228 million BOE (with WTI at $62/barrel). During the year, nine new projects are expected to come on stream, all of which are located in offshore China


Russia Shuts Greenpeace Out of Arctic Sea Route

Greenpeace icebreaker Arctic Sunrise (Photo: Greenpeace)

The Russian government has reportedly denied permission for the Greenpeace icebreaker Arctic Sunrise to enter the increasingly busy Northern Sea Route (NSR), despite the ship having fulfilled all the requirements for such an entry. Greenpeace International beleives the decision is an attempt to prevent it from exposing the activities of Russian state-owned oil company Rosneft. Multiple vessels contracted by Rosneft and U.S


Petrobras to Expand Production in Argentina

Reuters - Brazilian oil company Petróleo Brasileiro SA wants to boost oil exploration and production activities in neighboring Argentina, Chief Executive Maria das Graças Foster told reporters on Wednesday. Earlier, in a phone conference with investors


China's Civilian Fleet a Potent Force in Disputed Seas

Photo: Reuters

By Megha Rajagopalan and Greg Torode, Reuters From harassing Filipino fishing boats and monitoring oil exploration off Vietnam to playing cat-and-mouse with the Japanese coastguard, China's expanding fleet of civilian patrol vessels have become the enforcers in disputed Asian waters.


China's civilian fleet a potent force in Asia's disputed seas

From harassing Filipino fishing boats and monitoring oil exploration off Vietnam to playing cat-and-mouse with the Japanese coastguard, China's expanding fleet of civilian patrol vessels have become the enforcers in disputed Asian waters.


Knud E. Hansen A/S Wins Shippax Award

hansen.jpg

At this week’s 12th Annual Ferry Shipping Conference sailing on board Romantika between Stockholm & Riga, Danish Naval Architects, Knud  E. Hansen A/S, were awarded the 2013 ShipPax Award. The award was presented in recognition of the efficient and innovative design of internal


RigNet Launches iDirect Australia Network

RigNet, provider of remote communications solutions to the oil and gas industry, has installed an iDirect Series 15100 Universal Satellite Hub in Adelaide, Australia. The installation will allow RigNet to extend its services to Australia and the Asia Pacific region


Hermes Datacomms Wins Two-year African Support Contract

Bill Green, Account Director, Hermes Datacommunications International Ltd.

Hermes Datacommunications International Ltd., a company providing Wide Area Network communications to the upstream oil and gas industry, won a contract to support Tullow Oil plc. for their operations in Africa. The 24-month deal sees the company use its pan–African satellite platform to


Maersk Launches Quest for Oil Computer Game

Maersk is launching a new computer game called Quest for Oil. Maersk is taking the lead in an innovative way by using a video game to open up the oil business to everyone. Quest for Oil is the first game of its kind and with the convergence of forces


Inmarsat Alphasat Satellite Launch Successfrul

Alphasat preparation: Photo credit Inmarsat

Inmarsat provider of global mobile satellite communications services, confirms the successful launch of Alphasat, the largest satellite, designated I-4A F4. Alphasat was launched on an Ariane 5 ECA, the latest version of the Ariane 5 launcher, from the Guiana Space Centre in Kourou


Hyperdynamics' Guinea Consortium Provides Notice of Intent

Hyperdynamics Corporation announced  that Tullow Oil Guinea Ltd. has formally notified the Republic of Guinea, on behalf of the consortium that is exploring for oil offshore Guinea, of its intent to elect to extend the Second Exploration Period for an additional three years


Update on Acta Marine's 'Shoalbuster' Fleet Deployment

Shoalbusters: Photo courtesy of Acta Marine

Shallow water offshore support services operator Acta Marine gives an update on the worldwide deployment of its specialized vessels. In Asia the Coastal Victory is engaged upon offshore support activities with a shallow draft pipe lay vessel in Korea and Taiwan


Offshore APAC Electrical Equipment Market: New Survey

New analysis from Frost & Sullivan 'Electrical Equipment and Solution for Marine and Offshore Markets in Asia-Pacific', finds that the market earned revenues of US$350.0 million in 2012 and estimates this to reach US$467.4 million in 2017


Venezuela Releases Detained Survey Ship

Photo: BBC

Venezuelan authorities said they will release a U.S.-operated  oil-exploration survey vessel Teknik Perdana and its 36 crew members after detaining the ship last week, multiple sources reported. The 285-foot vessel was taken into custody while conducting a seismic study in resource-rich


Nobel Prize Winners Join Forces to Plead Greenpeace Arctic Case

Photo credit Greenpeace

Eleven Nobel Peace Prize laureates including Archbishop Desmond Tutu have written a joint letter to Russian President Vladimir Putin offering their support to twenty eight Greenpeace International activists, a freelance photographer and a freelance filmmaker who are being detained in a Russian


Exploration Well in Kramsnø Completed

Irene Rummelhoff, senior vice president exploration Norway. (Photo: Harald Pettersen)

Statoil, together with PL532 partners, has made a gas discovery in the Kramsnø prospect in the Barents Sea. The exploration program around the Johan Castberg field has been vital in providing area knowledge, but so far not delivered expected oil volumes.


Petrobras Cuts Spending, Quarter Profits Fall 19%

Photo: Petrobras

By Jeb Blount, Reuters Brazil's state-run oil company Petrobras moved to check years of missed targets, soaring costs and rising debt by scaling back near-term investments and setting a limit on long-term growth. Petroleo Brasileiro SA, as Petrobras is formally known


 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright