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
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 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
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
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.
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 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
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 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
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
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
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.
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.
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, 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 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 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 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 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
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
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
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
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
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.
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