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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


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


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.


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


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


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


Maersk's 3Q Profit Beats Street

Danish shipping and oil group A.P. Moller-Maersk's third-quarter net profit beat expectations, boosted by a strong performance at its container shipping business Maersk Line. Net profit rose 25 percent to $1.5 billion compared with the same period last year, Maersk said on Tuesday, beating an average forecast of $1.38 billion in a Reuters poll of analysts. It stuck to its forecast for an underlying profit for the full year of around $4


Petrobras Denies Hiring JPMorgan for License Sales

Petróleo Brasileiro SA denied on Friday that it has hired JPMorgan Chase & Co to handle the sale of oil exploration licenses in deep-sea areas off the coast this year. In a securities filing, the state-controlled oil producer known as Petrobras reiterated the need to reduce capital


Zvezda Shipyard Comes Up Despite Western Sanctions

Zvezda Shipyard (Pics: Far Eastern Shipbuilding and Ship Repair Center)

 German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.   According to Director of the Far Eastern enterprise Yuri Filecroc


Ghana-Ivory Coast Maritime Dispute Mar Tullow

Image: Tullow Oil plc

 A dispute over maritime boundaries between Ghana and Ivory Coast is damaging Tullow Oil, which risks postponement of its TEN project in the waters off Ghana's coastline.    The government of Côte d’Ivoire has applied for provisional measures


CSL to Supply 5 Ships to Shipping Corp, Signs Pact with IHC for Dredgers

Photo: Cochin Shipyard Ltd

 Shipping Corporation of India Ltd (SCI) will buy five vessels from Cochin Shipyard Ltd (CSL) and issue tenders for buying two used liquefied petroleum gas (LPG) carriers as it looks to re-start ship purchases that were frozen after poor financial performance


Samsung Heavy Venturing Overseas

SHI is ready to invest around $950 million in the overseas shipbuilding facility by 2017, according to SHI’s Chief Financial Officer Chun Tae Heung. Tankers, bulk ships and smaller container vessels might in the future be built in Malaysia, Indonesia or Vietnam, Chun said.


Swissco Doubles Rig Fleet

Swissco Rig

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units, bringing the fleet of rigs to eight. As announced on 15 August 2014 on the Singapore Exchange


Swissco Bags $17m Chartering Contract

Chartering & Marine Logistics

SGX Mainboard-listed Swissco Holdings Limited announced it has secured three chartering contracts with options worth US$17.3 million. The offshore support vessels, comprising two new workboats and one anchor handling tug supply vessel, will be deployed in the Middle East under the contracts.


Samsung Heavy to Tankers for Gazprom

South Korean shipbuilder Samsung Heavy Industries plans to build three Arctic tankers for Russian oil company Gazprom Neft, which has been targeted by Western sanctions, sources familiar with the deal said. The sanctions imposed on Moscow over its role in the crisis in Ukraine have complicated


Uganda to Auction Oil Blocks

image

  Uganda will auction new oil exploration acreage by December and compensate land owners at the site of a planned crude oil refinery, a government official said on Friday. Investor interest in Uganda's hydrocarbons potential has been growing since the east African country discovered


Statoil: New Oil in the Grane Area

(Image: Statoil)

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader, proved an oil column of 25 m in the Heimdal Formation


Total CEO Killed in Moscow Runway Accident

Christophe de Margerie

Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as


Repairs Halt Total's S.African Ops; Resumption not Prior 2016

S.Africa wants 30 wells drilled in next 10 years; Total woes a setback to S.Africa exploration drive. French energy major Total has halted oil exploration off the southern coast of Africa due to mechanical problems with a rig, meaning it will not be able to resume searching in the area before


Rosneft Achieve Commercial Production in Irkutsk Region Blocks

Rosneft acquired commercial inflows of hydrocarbons on the licensed blocks of Irkutsk Region

  Commercial inflows of oil, gas and condensate have been acquired in four exploration wells on Rosneft’s licensed blocks, which were handed over to Verkhnechonskneftegaz for operational activities on geologic survey, exploration and production of hydrocarbon crude


Maersk Mulls Port of Tema Expansion

Pic by Port of Tema

 Maersk Group is committed to support the expansion of the Port of Tema to the tune of US $1.5 billion, says Nils Smedegaard Andersen, Chief Executive Officer of Maersk Group.  Maersk will also contribute its quota in the US$6 billion oil exploration work to be undertaken by Italian


Maersk Confirms $1.5bn for Ghana Port

The Port Of Tema (Pic by  Ghana Ports & Harbours Authority)

 The Maersk Group has reaffirmed its commitment to support the expansion of Ghana’s Port of Tema to the tune of US$1.5 billion.  The Group Chief Executive Officer of the multinational transport and energy giant Maersk Group, Nils Smedegaard Andersen






 
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