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Oil Find

Iran Makes $100 B Oil Find, Major Companies Compete For Big Deals

Iran Makes $100 B Oil Find, Major Companies Compete For Big Deals Iran announced its biggest oil find in 30 years last week, a 26-billion barrel field discovered just as the country drives to revive exploration activities and foreign firms compete for big deals. Oil Minister Bijan Zanganeh said the oilfield in the prolific southwest Khuzestan province has the potential to produce up to 400,000 bpd. He said that development on the field, which is close to the Iraqi border, will start by the end of March 2001 and could earn revenues of some $100 billion given current estimates of recoverable reserves. The massive discovery by the National Iranian Oil Company comes under renewed Iranian efforts to rejuvenate exploration activities in a country with the world's second largest natural gas reserves and fifth biggest oil reserves. "Exploration had been neglected for 20 years. Recently there has been a great deal of exploration effort and this find shows that Iran is still under-explored," said Iranian oil expert Manouchehr Takin of London's Center for Global Energy Studies. "It underscores that Iran still has the potential for big discoveries." Oil Majors Vying For Iran Business That potential is one of the incentives now driving major Western oil firms to compete for big deals under Iran's biggest energy opening since the 1979 Islamic revolution.


Ships Suspected in Estonian Oil Spill

An investigation committee headed by the Estonian Central Criminal Police now suspects 15 vessels of the oil spill off the Estonia coast that resulted in death of thousands and aquatic birds. The Liberian oil tanker Flawless, had notified authorities of problems already when approaching the Muuga seaport. The vessel had sustained a seven centimeters crack in its hull. The Estonian Maritime Administration inspected the ship after the announcement


Petrobras Announces Four Oil Field Finds

Brazil's state oil giant Petrobras said on Thursday that it had made four "important" new oil finds that should boost its oil reserves by about 1.4 percent. Petrobras said the discoveries in Brazil's northeast region would eventually increase reserves by more than 130 million barrels, or 1.4 percent. Brazil's current reserves are 9.278 billion barrels. The finds were made in four mature fields where production was thought to be declining.


Coast Guard, Dept. of Ecology to Conduct Investigation

The Coast Guard, the Washington State Department of Ecology and the City of Seattle Public Utilities continue to investigate the cause of the patches of light oil sheen that covered parts of of Elliott Bay in Seattle Friday. Federal, State and City of Seattle pollution investigators continued their search throughout the weekend and today for the cause of the oil spill. On Friday oil containment booms and sorbent materials were placed at storm drain outfalls at SW Lander St


BP Finds Major Gas Field

According to a Bloomberg report, BP Plc discovered a gas deposit in the Caspian Sea that may double production from the largest natural gas development in Azerbaijan. BP shares rose 2.8 percent, the most in a month, in London trading after the company announcement. With the latest discovery, the field may be able to pump enough gas to supply Belgium and Luxembourg together. BP and partners including StatoilHydro ASA plan to spend $4


Nigeria Sees Future In Deep Offshore Fields

Nigeria's deep offshore fields showed more promise for oil finds than fields closer to shore, a senior Nigerian official said. Of the 18 wells drilled recently in Nigerian waters less than 1,000 m deep, 11 were dry. Of the 11 drilled in water over that depth, only two were dry, Funsho Kupolokun, special adviser on oil to Nigerian President Olusegun Obasanjo, said. Kupolokun said Nigeria expects to extract up to 850 trillion barrels from only four of its deep offshore fields


Petrobras: Deep Offshore Wells a New Frontier

Bloomberg reported that Petroleo Brasileiro SA, Brazil's state- controlled oil company, opened a new exploration frontier with the discovery of oil beneath more than two kilometers of ocean and two kilometers of rock a company official said. While Petrobras doesn't know the extent or size of the oil deposits found about 250 kilometers off the shore of Rio de Janeiro, it is the first time oil has been found under such conditions


Arctic Route Helps Owners Slash Fuel Costs

“I think it important to remind everyone that the place is ice-covered – fully or partially – eight to 10 months out of the year through the century and beyond, Said Lawson W. Brigham, PhD, Distinguished Professor, Geography and Arctic Policy, University of Alaska – Fairbanks.

The debate regarding working in and around the Arctic is multi-tiered, with environmental, technical and emergency response heading the list. There is no debate regarding the fuel, money and emissions to be saved by shortening select global shipping routes. In a report from Bloomberg news posted June 13 on http://www.businessweek.com, it was said there will be a rise in dry bulk cargos hauled through Arctic waters this season


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, innovation and technology Maersk gives the chance to experience the challenging world of being on a drilling rig with its 53,000 tons of steel rammed into the bottom of the ocean.


Pick Me Up

“One of our key strategic initiatives has been increasing our  rental and rigging business, and to go deeper into the offshore oil and gas drilling and production markets.”  Mitch Hausman

Mitch Hausman, President & CEO of Delta Rigging & Tools, Inc., discusses his company’s strategy to expand its core business through acquisition, including insights on its largest ever: the purchase this summer of Morgan City Rentals.   Delta Rigging & Tools is a provider of a wide range of Industrial lifting, rigging and associated products, serving diverse markets from energy to transportation, maritime and offshore to name but a few


Conservation Efforts in Revised ESA Listing of Green Sea Turtle

Green sea turtles are found around the globe in tropical and subtropical waters. (Credit NOAA)

  NOAA Fisheries and the U.S. Fish and Wildlife Service proposed today to reclassify the green sea turtle under the Endangered Species Act, and list turtles originating from two breeding populations currently considered endangered as threatened due to improvements in their populations.


Container Shipping Outlook Uncertain in 2015: AlixPartners

Photo courtesy of Maersk Lines

  The outlook for the global container shipping industry remains challenging for the remainder of 2015, according to a new report from AlixPartners.   In its annual outlook for the industry, the global business-advisory firm predicts that operating improvements will continue to prove


Getting Onboard the Regulatory Train

Joseph Keefe is the lead commentator of  MaritimeProfessional.com.

Rail transport activists, analysts and environmentalists get a real taste of what the waterfront has endured for decades. They’ll just have to get in line with the rest of us.   This week finds the collective domestic oil industry wringing its hands about the latest in a series of


Moskito to Recover Oil from Sunken Wrecks

The Moskito name comes from the fact that it is designed to work much like the annoying insect. Moskito is delivered to the outside of the (sunken ship’s) tank where it penetrates its skin and inserts its proboscis so that the liquid inside can sucked out.

  A tool for removing oil in submerged vessels was developed in Norway by Miko Marine. Moskito is designed to address the pollution threat that exists with the large numbers of sunken ships around the world that still contain significant quantities of oil in their tanks as cargo or bunker


New Tool for Recovering Oil from Sunken Wrecks

Photo courtesy of Miko

A tool for removing oil trapped in submerged vessels has been developed in Norway by design specialists Miko Marine.   The launch of the Moskito aims to address the pollution threat that exists with the large numbers of sunken ships around the world that still contain quantities of oil in


Statoil: Johan Castberg, Snorre 2040 Timelines Changed

The Snorre A platform in the North Sea. (Photos: Harald Pettersen)

The licensees in the Johan Castberg and Snorre 2040 licences have decided to spend more time on the projects. “Castberg and Snorre 2040 are two major and important projects in our portfolio, and it is important that we find sound and robust development solutions for them


TNKC Installs Security Doors on All Bulkers

Photo courtesy of TNKC

Intelligent Engineering (IE) has supplied TNKC (UK) Ltd with SPS Citadel Access Protection doors for all nine of the bulk carriers in their fleet, with the last set being delivered in late February 2015.  The bulk carriers which operate in high risk areas are now fitted with this innovative


Tracking Turtles Across Miles of Open Ocean

Leatherback Turtle

  Scientists have long known that leatherback sea turtles travel thousands of miles each year through open ocean to get from foraging habitats to nesting beaches and tropical wintering grounds, but how the wanderers find their way has been “an enduring mystery of animal behavior


Financial Pressure Forces PDVSA to Embraces Pragmatism

By Alexandra Ulmer and Marianna Parraga CARACAS/HOUSTON, March 13 (Reuters) - A subtle change in office attire may be the most telling symbol of a quiet revolution taking place inside Venezuela's troubled economic engine, giant oil firm PDVSA.


Turkey Seizes Syrian Refugee Ship

Turkish coastguards found more than 300 refugees, mostly Syrians, when they seized a cargo ship they had opened fired on for failing obey an order to stop off Turkey's western coast, the regional governor said on Friday.   Refugee trafficking in the seas around Turkey is a major problem


Divers Find 2,000 Priceless Gold Coins

Main photo – Dr. Bridget Buxton with the Pulse 8X detector, Bottom inset – diver holds recovered gold coins, Top inset – some of the 2,000 gold coins found off Israeli coast. (Photos courtesy of JW Fishers)

Scuba divers have found the largest cache of gold coins ever discovered in Israel working on wreck site in the ancient harbor of Caesarea on the country's Mediterranean coast, reports the Israeli Antiquities Authority (IAA). The treasure trove of 2


PGS Wins Patent Dispute with EMGS

Ramform Titan Courtesy Petroleum Geo-Services

  Oslo, Norway, Petroleum Geo-Services ASA informed today that Oslo District Court in its judgment of 13 February 2015 ruled in favor of PGS in the lawsuit filed by ElectroMagnetic GeoServices ASA ('EMGS') against PGS for patent infringement relating to PGS' Towed Streamer EM technology.


Court: Vens to Pay Tidewater $46 mln

A World Bank tribunal has ordered Venezuela to pay oil service company Tidewater around $46 million in compensation for seized vessels, in a decision the South American country hailed as a victory. The claim, one of many similar cases, stems from the 14-year rule of late leader Hugo Chavez


VIKING All set to Meet Global Challenges

...As a global supplier of maritime safety equipment, VIKING’s 37 subsidiaries are represented in 70 locations, including the USA.

  For the 2014 financial year, VIKING Life-Saving Equipment A/S has again managed to lift both its top and bottom line to record levels. Turnover grew 7 percent to DKK 1.728 billion, and pre-tax profits reached DKK 183.7 million – an increase of 30 percent.  


New Skimmer Systems for Coastal Oil Spill Response

SeaHow said its new skimmer systems can be implemented to almost any workboat over six meters in length. Skimmers are designed to collect both light and heavy oils efficiently. These features provide new operational efficiencies especially for near shore and coastal oil spill response. (Photo: SeaHow)

SeaHow has launched a new product line of skimmers aiming to address the challenges encountered by the oil spill response (OSR) organizations.   SeaHow, operator one of northern Europe’s largest fleets of OSR vessels, said that over the 30 years that it has carried out OSR work






 
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