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Oil Exploration News

24 Nov 2023

Petrobras to Invest $102 Billion in Next Five Years

Source: Petrobras

Brazil's Petrobras will invest around $102 billion within the 2024-2028 period, the firm's new strategic plan showed on Thursday, representing a major boost in expected investments by the state-run oil company.The plan, the first released by the oil giant since CEO Jean Paul Prates took the helm of the company, includes investments in a range of different segments, with most of it going into oil exploration and production.The figure represents a 31% leap from the $78 billion Petrobras…

20 Mar 2023

Maersk Sells Supply Service to Family Holding Company for $685M

©Maersk Supply Service (file photo)

Maersk has agreed to sell its offshore marine service provider Maersk Supply Service to family-owned holding company A.P. Moller Holding for $685 million, the Danish shipping giant said in a statement on Monday.The sale marks the completion of Maersk's strategic shift that began in 2016 away from energy towards focusing on its transport and logistics business, which included selling its oil exploration and production business in 2017."It marks the completion of our initial decision to divest all energy related activities and focus on truly integrated logistics…

10 Jan 2023

Philippines' Supreme Court Voids 2005 South China Sea Oil & Gas Exploration Deal

©niroworld/AdobeStock

The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling that the constitution does not allow foreign entities to exploit natural resources. The decision, on an agreement that expired in 2008, could complicate efforts by China to revive oil and gas exploration talks with the Philippines in areas of the South China Sea that are not in dispute. The court gave no explanation for why the ruling came 14 years after a petition was filed.

05 Jan 2023

China, Philippines Agree to Handle Disputes Peacefully, Resume Joint Offshore Oil Exploration Talks

On the afternoon of 4 January, China's President Xi Jinping held talks with Philippine President Ferdinand Romualdez Marcos Jr. at the Great Hall of the People during the latter’s state visit to China. Photo: Ministry of Foreign Affairs of the People’s Republic of China

China and the Philippines have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully, they said on Thursday.Their agreement, which contained 14 elements aimed at cooling security tensions and boosting economic cooperation, comes as they strive to mend a relationship hurt after the Philippines won a 2016 arbitral ruling that invalidated China's expansive claims in the South China Sea.The Philippines…

22 May 2022

Op-ed: Building on Don Young’s Legacy of Protecting Alaska Oceans

© Lars Johansson / Adobe Stock

May 22 marks National Maritime Day. Congress established it in 1933 in commemoration of the steam ship Savannah and her maiden voyage, which was the first trans-Atlantic journey ever made by a steam-powered vessel. In the 203 years since the Savannah departed her eponymous port in Georgia for Liverpool, England, oceangoing technology has come a long way – and maritime shipping has become a supply-chain backbone that keeps goods arriving from all over the world. Much of this shipping…

11 Apr 2022

Yesterday’s or Tomorrow’s Offshore Energy: Which to Pick?

Copyright Inna/AdobeStock

Looking back, it is easy to wonder if one could have done better by taking the other fork in the road. I grew up in Holland in a maritime family and am pretty sure I would have stuck with maritime there. In 1968, when I was 8 years old, my father left Holland America Line and joined the United States Salvage Association. At the same time, their main customer, the U.S. marine insurance industry, became heavily involved in the development of North Sea offshore oil and gas, and it resulted in an economic boom that made USSA’s Rotterdam office wildly profitable.

25 Mar 2022

Ukraine Seeks Tougher Restrictions at Russian Ports Over Oil

© OlegKachura / Adobe Stock

A top economic adviser to Ukrainian President Volodymyr Zelenskiy called on the White House to block American companies from all trade in Russian oil and urged Western oil and gas companies to stop handling the commodity, the New York Times reported on Wednesday.In an interview with the U.S. news outlet overnight, Oleg Ustenko said the companies should hire independent accountants to verify no Russian oil is loaded onto their ships, the Times said."We need a full embargo, a full boycott.

04 Oct 2021

Malaysia Protests Presence of Chinese Vessels in its Waters

© Oleksii / Adobe Stock

Malaysia summoned the Chinese ambassador to Kuala Lumpur on Monday to express its protest against the “encroachment” into its waters by Beijing’s vessels, the foreign ministry said.The protest was over the “presence and activities” of Chinese vessels, including a survey vessel, in Malaysia’s Exclusive Economic Zone off the coasts of the eastern states of Sabah and Sarawak, the ministry said in a statement on Monday.It did not say when the vessels were detected in Malaysian waters.“Malaysia’s consistent position and actions are based on international law…

02 Jun 2021

Lawsuit Challenges ExxonMobil's Exploration and Production Activities in Guyana

A landmark lawsuit filed against Guyana's government, arguing that oil production fuels climate change, could bolster legal action as court cases involving energy companies and state authorities surge, according to lawyers and environmentalists.The constitutional claim - the first of its kind in the English-speaking Caribbean - asserts that oil exploration and production led by U.S. oil major ExxonMobil off the South American country's coast is unconstitutional, said the case's lead lawyer Melinda Janki.Filed by two Guyanese citizens in late May before the tiny nation's constitutional court, the lawsuit centers on the duty of the state to protect the environment for present and future generations…

19 Nov 2020

US Moves to Loosen Safety Rules for Arctic Offshore Drilling

(File photo: U.S. Coast Guard courtesy of Air Station Port Angeles)

The Trump administration on Thursday proposed to loosen Obama-era safety regulations for the oil industry in the Arctic Ocean off Alaska to ease the way for petroleum extraction in the region, an effort that President-elect Joe Biden will likely throw out once in office.The proposal would revise a suite of Obama-era rules crafted to improve safety in the extreme conditions of the Arctic after a Shell drilling rig ran aground there in 2012. The company later abandoned oil exploration in the region and there are no active drilling operations there.Now, much of the U.S.

27 Oct 2020

Malaysia: Two Dead After Offshore Vessel Rams into Oil Platform

Image Credit:  Mohamad Zubil Mat Som - Malaysian Maritime Enforcement Agency (MMEA)

Two crew of a Malaysian offshore support vessel died on Tuesday after their ship hit a [platform] operated by state oil firm Petronas off the state of Sarawak on Borneo island.The Dayang Topaz rammed into the Baram B oil platform after its anchor cable broke in bad weather, Petronas and marine authorities said in separate statements.The ship was carrying 187 crew, 125 of whom jumped into the sea when the accident happened, about 7.7 nautical miles (14.3 km) offshore, marine authorities said.

13 Oct 2020

Malaysia Detains Chinese Vessels for Trespassing

© Igor Groshev / Adobe Stock

Malaysia’s maritime authorities said on Saturday they had detained 60 Chinese nationals and six Chinese-registered fishing vessels they said were trespassing into the Southeast Asian country’s waters.Malaysia reported 89 intrusions by Chinese coastguard and navy ships between 2016 and 2019, amid escalating tensions between the United States and China over Beijing’s claims to most of the resource-rich South China Sea, which is also a major trade route.The Malaysian Maritime Enforcement Agency (MMEA) said the fishing vessels and crew were detained in an operation off the coast of the southern st

14 Aug 2020

Erdogan: Turkey will Retaliate to Any Attack on Seismic Vessel in Mediterranean

Turkish Navy vessels escorting the Oruc Reis seismic vessel - Credit: Turkish Defense Ministry

President Tayyip Erdogan warned Greece on Friday that Turkey will retaliate against any attack on its survey vessel Oruc Reis in the eastern Mediterranean in an escalating row between the NATO allies over gas and oil exploration in the region.Turkey and Greece are vehemently at odds over overlapping claims for hydrocarbon resources in the region, and tensions rose after Ankara launched exploration operations in a disputed area of the Mediterranean on Monday. On Thursday, Erdogan…

14 Jul 2020

Chinese Ships Intruded into Malaysian Waters 89 Times in Four Years -Report

File photo Chinese seismic vessel Haiyang Dizhi 8 (Credit: China Geologic Survey)

Chinese coastguard and navy ships intruded into Malaysian waters in the disputed South China Sea 89 times between 2016 to 2019, and often remained in the area even after being turned away by the Malaysian navy, the government said in a report on Tuesday.The report comes amid escalating tension between the United States and China over Beijing’s claims to most of the resource-rich South China Sea, which is also a major trade route.The Philippines, Brunei, Vietnam, Malaysia and Taiwan have their own claims that overlap in part with China’s and…

29 May 2020

Turkey May Begin Drilling Under Libya Deal in 3-4 Months

© muratart / Adobe Stock

Turkey may begin oil exploration in the eastern Mediterranean within three or four months under a deal it signed with Libya that was condemned by others in the region including Greece, Energy Minister Fatih Donmez said on Friday.Libya's internationally-recognized Government of National Accord (GNA) signed the maritime delimitation deal last year. Turkey says it creates an exclusive economic zone from its southern coast to Libya's northeast coast, and protects rights to resources.Greece, Cyprus and others oppose the accord and call it illegal, an accusation Ankara has rejected.

15 May 2020

Chinese Survey Ship Leaves Malaysian Waters After Standoff

Haiyang Dizhi 8 seismic survey vessel (File photo: China Geologic Survey)

A Chinese survey ship that had been involved in a month-long standoff with a Malaysian oil exploration vessel in the South China Sea has left Malaysia’s exclusive economic zone (EEZ), shipping data showed on Friday.Since mid-April, the Haiyang Dizhi 8 had been surveying in the EEZ, close to where a drillship contracted by Malaysian state oil firm Petronas had been operating in waters claimed by Malaysia, Vietnam as well as China.The West Capella, the ship contracted by Petronas…

12 May 2020

Petronas Drillship Exits South China Sea After Standoff

An oil exploration vessel contracted by Malaysian state energy company Petronas that was involved in a standoff with a Chinese survey vessel in the South China Sea left the disputed waters on Tuesday, three security sources and the vessel operator said.Petronas has been conducting exploration activities near an area claimed by Malaysia and Vietnam as well as by China since late last year. In mid-April, the Haiyang Dizhi 8 - the Chinese government survey vessel - started operating in the area, escorted by coast guard and China Maritime Militia vessels.Three American warships and an Australian frigate conducted a joint exercise near the site of Petronas' operations amid the standoff last month.The West Capella…

15 May 2020

Malaysia Calls for Peaceful End to South China Sea Standoff

Haiyang Dizhi 8 seismic survey vessel; Image Credit: China Geologic Survey (File Photo)

Malaysia called on Thursday for disputes over the South China Sea to be resolved by peaceful means, amid a standoff between Chinese and Malaysian vessels that a U.S. think tank said had been going on for months.U.S. and Australian warships arrived in the South China Sea this week near an area where a Chinese government survey vessel, the Haiyang Dizhi 8, has been operating close to a drillship under contract to Malaysian state oil company Petronas, regional security sources have…

20 Apr 2020

U.S. Tells China to Stop 'Bullying Behavior' in South China Sea

The United States called on China on Saturday to stop "bullying behavior" in the South China Sea and said it was concerned by reports of Beijing's "provocative actions" aimed at offshore oil and gas developments in the disputed waters.Three regional security sources told Reuters on Friday that a Chinese government survey ship was tagging an exploration vessel operated by Malaysia's state oil company Petronas in those waters.The vessel Haiyang Dizhi 8 was earlier this week spotted off Vietnam, where it had last year conducted suspected oil exploration surveys in large expanses of Vietnam's exclusive economic zone."The United States is concerned by reports of China's repeated provocative actions aimed at the offshore oil and gas development of other claimant states," the U.S.

16 Apr 2020

Chinese Seismic Vessel Seen Moving Near Malaysia Amid Rising South China Sea Tensions

Image Credit: China Geologic Survey (File Photo)

A Chinese government survey ship embroiled in a standoff with Vietnamese vessels moved south near Malaysia, shipping data showed Thursday, amid accusations that China is using the pandemic to assert its presence in the South China Sea.The Haiyang Dizhi 8 was spotted off Vietnam this week, returning after being closely tracked last year in the resource-rich waters, a potential global flashpoint as the United States challenges China's sweeping maritime claims.The ship appeared to have started a survey in waters 352 kilometers (218 miles) off the coasts of Brunei and Malaysia on Thursday…

14 Apr 2020

Chinese Seismic Vessel Returns to Waters off Vietnam Amid Virus 'Distraction' Charges

A Chinese ship embroiled in a standoff with Vietnamese vessels last year has returned to waters near Vietnam as the United States accused China of pushing its presence in the South China Sea while other claimants are pre-occupied with the coronavirus.Vietnamese vessels last year spent months shadowing the Chinese Haiyang Dizhi 8 survey vessel in resource-rich waters that are a potential global flashpoint as the United States challenges China's sweeping maritime claims.On Tuesday, the ship, which is used for offshore seismic surveys, appeared again 158 km (98 miles) off Vietnam's coast, within its exclusive economic zone (EEZ), flanked by at least one China Coast Guard vessel…

07 Feb 2020

Are OSVs Fit for Refit for Offshore Wind?

BEFORE: Island Clipper: Island Offshore of Ulsteinvik, Norway, has had success with conversions.  “before” and “after”.  Photos: Island Offshore

While it is generally agreed that the nascent offshore wind energy market in the U.S. will be a newbuild market, there is a repair and conversion possibility for some stacked OSVs.Though estimates on the pace of the offshore wind energy market in the U.S. vary widely, the direction is clear: offshore wind will be a huge marketplace for construction and support vessels to be deployed in U.S. waters over the next decade. The starting point for estimated vessel demand is the raft of projects along the U.S. East Coast, and to a lesser extent, in the Pacific waters, now in the pipeline.

17 Dec 2019

Turkey Launches Oil Exploration Drone

© jules / Adobe Stock

A Turkish drone meant to help seek hydrocarbons in the eastern Mediterranean landed at an airport on the divided island of Cyprus on Monday, a Turkish official said, in a move that could further stoke tensions between Turkey and Greece.The breakaway Turkish Cypriot cabinet on Friday designated the Gecitkale airport on the island as a base for both unarmed and armed unmanned aerial vehicles (UAVs) at the request of the Turkish government, the Demiroren news agency (DHA) said.Cyprus, an EU member, was divided in a Turkish invasion in 1974 triggered by a brief Greek-inspired coup.

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