Oil Search Ltd., Papua New Guinea's biggest oil producer, expects to reach agreements with the government and partners by the year-end allowing a decision to start designing a $10b liquefied natural gas project. The economic viability of the Exxon Mobil Corp.-led LNG project has been ``fully tested'' and talks are underway with the government on fiscal terms, Port Moresby-based Oil Search said in a presentation lodged with the Australian Stock Exchange, according to a Bloomberg report. Oil Search may own between 28 percent and 32 percent of the venture, once the state and landowners take up stakes. The group is studying tapping gas from the Hides, Angore, Juha fields and nearby areas in the Highlands of Papua New Guinea to feed a 6.3 million metric tons-a-year LNG plant, targeting the start of deliveries in 2013. Santos Ltd., AGL Energy Ltd. and Japan PNG Petroleum have stakes in the venture. Oil Search reiterated a forecast for production of between 9.5 million and 10 million barrels of oil equivalent this year, down from 10.2 million in 2006. Field and corporate costs are expected to be ``slightly'' higher in the second half than in the first, it said. Exploration spending is set to be at the upper end of the $230m to $240m range forecast in August, while spending on development will probably be ``a little lower'' than $100m, the company reportedly said
Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan.
Tally of oil-directed rigs shows increase In its weekly release, Houston-based oiilfield services company BHI reported a record rise in the number of rigs searching for oil and gas. The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada.
The number of rigs searching for oil and natural gas in the United States fell by seven to 1,225 during the week ending May 18, according to oil services firm Baker Hughes. Last year the number of U.S. rigs was 841, Baker Hughes said. Meanwhile, the number of rigs exploring for oil and gas in Canada gained 24, compared to 182 last year. The number of rigs in the U.S. Gulf of Mexico fell by four to 160, compared to 135 a year ago.
According to a report from the Associated Press, China's state-owned offshore oil and gas company is intensifying its search for oil in the western United States. CNOOC Ltd. announced it will pay $570m for a one-third stake in Chesapeake Energy Corp.'s drilling project in an emerging oil field in northeast Colorado and southeast Wyoming. (Source: AP)
The number of U.S. rigs searching for natural gas in the U.S. rose by 28 to 764, an all-time record high, while the number of rigs searching for oil fell by three to 210 during the week ending July 28, according to oil services firm Baker Hughes Inc. The number of rigs exploring for oil and gas in the United States rose by 25 to 975, compared with 602 active rigs in the U.S. in the year ago period. In Canada, the number of rigs searching for oil and gas rose 13 to 319
The Coast Guard ended two searches today in the Gulf of Mexico off the Texas and Louisiana coasts after thorough searches turned up no results. In the first case, the Coast Guard called off the search for a missing swimmer in San Luis Pass near Freeport, Texas. The 17-year-old Hispanic male is missing after swimming in San Luis Pass Tuesday evening. The Galveston Police Department notified the Coast Guard of the missing swimmer about 8:40 p.m. Tuesday
Sterling Global Operations (SGO) has been chosen to provide surface - supplied divers for unexploded ordnance search and removal and salvage operations for the sunken 82,000-ton Very Large Crude Carrier (VLCC) Amuriyah, an Iraqi tanker sunk near Bubiyan Island off the coast of Kuwait in Jan. 1991 during Operation Desert Storm. Special Diving Services (SDS) Holland hired SGO for this project. "For years SGO has conducted major demining and unexploded ordnance clearance projects in
ExxonMobil's $19 billion liquefied natural gas (LNG) project in Papua New Guinea, which is shipping its first cargo, is set to dramatically transform one of Asia-Pacific's most unstable countries, for better or for worse. The LNG venture, which is expected to produce more than 9 trillion cubic feet of gas over 30 years, is the largest private investment in the South Pacific nation's history. ExxonMobil is relying on projects like this one for much-needed production growth
China's largest ever maritime search-and-rescue exercise, involving 400 people, 28 fleets, two helicopters and an aircraft, was carried out on Thursday in the waters near Dalian Port, northeast China's Liaoning Province. The exercise started when a collision between a passenger ferry and a cargo boat was reported and the National Maritime Rescue Emergency Plan was enacted immediately. The main elements of the exercise, including the rescue of 368 passengers and dozens of sailors
The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only proved to be too much for European coast guards and navies, it now poses a major problem for Mediterranean shipping.
Brent oil prices rose on Wednesday as the euro strengthened against the dollar following a boost in business morale in the euro zone's top two economies. The euro was up 0.6 percent against the dollar, the currency in which crude oil futures trade. The dollar lost 0
The Coast Guard suspended the search Saturday for an overdue 83-foot commercial fishing vessel near the Republic of Marshall Islands. Fishing vessel Clear Water 02 reportedly went missing with nine people aboard while en route Majuro for offload, March 12.
Boat arrivals up more than 40 pct this year; this year 600 dead vs 100 in same period last year. With migration across the Mediterranean surging, the European Union's largest border operation is bracing for a record year of arrivals by sea
Russian naval units are conducting a defense drill in the Barents Sea, which Russia shares with Norway, involving more than 20 vessels from the country’s Baltic Fleet, as part of the Russian Northern Fleet exercises. The press service of Russia’s Western Military
NOAA plans increased 2015 Arctic nautical charting operations, coordinating with U.S. Coast Guard for safe shipping route from Unimark Pass through Bering Strait As commercial shipping traffic increases in the Arctic, NOAA informs it is taking steps to update nautical charts in the
U.S. Coast Guard Station St. Petersburg receives service's final response boat The Coast Guard held a ceremony to recognize the 174th and final delivery of the Coast Guard’s 45-foot Response Boat-Medium at Sector St. Petersburg, Tuesday.
On February 4, 2014, the IMSO Director General launched an Consultancy Program inviting appropriate experts to assist in the evaluation of mobile satellite communications systems for the GMDSS. The IMO Maritime Safety Committee, at its 94th session in November 2014
A tugboat sank off New York's Fire Island on Saturday, and one crew member died and three were pulled from the icy water by the U.S. Coast Guard. The vessel, the Sea Bear, went down off Fire Island as it was returning to New York from the area's Shinnecock Inlet
About 50 people have died in the sinking of an overloaded ferry off the coast of western Myanmar police say. Rescuers have been frantically searching for survivors The boat had 209 people on board when it ran into high seas late on Friday on a voyage from the coastal town of
The Coast Guard continues the search for an overdue 82-foot commercial fishing vessel near the Republic of Marshall Islands, Saturday. Fishing vessel Clear Water 02 reportedly went missing with nine people aboard while en route Majuro for offload, Thursday.
A crewman was medically evacuated from a fishing boat by U.S. Coast Guard search and rescue crews 110 miles east of Cape Cod, Friday. Watchstanders at the Coast Guard Sector Boston Command Center received an urgent call from the fishing vessel Capt Joe stating that a 62-year-old crew
Bluefin Robotics underwater robot helps locate historic sunken Japanese battleship Musashi; located by philanthropist and entrepreneur Paul G. Allen, aided by advanced undersea technology Bluefin Robotics underwater autonomous vehicles (AUV) scour the ocean floors around the world
A fall in oil prices may help long-term exploitation of fossil fuels in the Arctic by averting a short-lived "gold rush" into the vulnerable icy region, Norway's Foreign Minister Boerge Brende said on Thursday. Exploitation of oil and gas required long planning to safeguard the
As offshore field developments in the North and Norwegian Seas face maturity, operators on the Norwegian Continental Shelf (NCS) are looking to the more remote areas of the Barents Sea for further development. Here harsher environmental conditions