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
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
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.
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
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)
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 Coast Guard suspended its search at 8:15 p.m. on Wednesday for missing boater Jason Henderson. The search for Henderson, 30, lasted seven days and covered more than 220,000 square miles (an area larger than the state of California). The search began August 14 when Henderson failed to return from a daylong fishing trip. He was reported missing by his father-in-law, Ronald Noah, to the Hawaii Fire Department at 10 p.m.
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
Brazil's state oil giant, Petrobras, signed a letter of intent with Cuba on technological exchange as part of a strategy aimed at returning to the island in search for crude. Petrobras President Jose Eduardo Dutra said his company was studying at least one block that should be offered on a concession basis by the Cuban government.
Lamprell, provider of diversified engineering & contracting services to the onshore and offshore oil & gas industries makes sweeping Board changes. Nigel McCue is standing down as Chief Executive and as a director of the Company. Peter Whitbread, former Chief Executive who was with Lamprell from 1992 until 2009, has been appointed as Interim Chief Executive and will join the Board with immediate effect.
WaveSentry, a Technology Strategy Board funded project backed by a consortium of industry and academic experts, successfully concluded at the end of April with an event to present the key outcomes of the project explore technologies and opportunities for further development of wave measurement and
The Australian Navy ship HMAS Choules and her MRH 90 helicopter have been involved in the air and sea search for two people believed lost from the Carnival Line cruise ship Carnival Spirit off the New South Wales mid-north coast. HMAS Choules joined the search on Thursday afternoon as she was
The search for an Australian couple who went overboard Wednesday from the Carnival Spirit cruise ship has been called off, the Associated Press reported. The passengers, identified as Paul Rossington, 30, and Kristen Schroder, 26, went overboard in the waters off New South Wales, Australia
A&P Falmouth has launched an apprenticeship recruitment search to find raw talent in Cornwall (SW England). The purpose of the scheme is to train and hone into the skilled engineering and marine workers of the future. In the last five years A&P
Technology Associates, Inc., a New Orleans based Naval Architecture and Marine Engineering firm signed a contract which, when options are exercised, will exceed $6.1m. The contract is with the U.S. Coast Guard and will provide engineering services to the Sentinel-class Fast Response Cutter (FRC)
The Tempest 50-FAC from Tampa Yacht Manufacturing (TYM) is designed to provide Patrol and surveillance in shallow coastal and riverine waters by day and night in marshy areas of creeks with shifting sand bars, with low draft, high maneuverability and speed
Technology Associates, Inc., a New Orleans based Naval Architecture and Marine Engineering firm, announced that it signed a contract with the U.S. Coast Guard to provide engineering services to the Sentinel-class Fast Response Cutter (FRC) patrol craft Project Resident Office located at Bollinger
A human silhouette is outlined by the light of a cell phone as theater patrons shift their attention toward the disturbance. The user’s eyes scan messaging with expression of concern, reading of a boating accident and a lone mariner’s single call for help
CFO and member of the Executive Board of TORM Roland M. Andersen tendered his resignation. Andersen will continue his normal duties on the Executive Board and leave the Company latest by the end of October 2013. The search process for a new CFO will be initiated immediately, TORM said.
Sea Search Armada's (SSA) lawsuit against the Government of Colombia in U.S. District Court, Washington D.C. claims it interfered with SSA's legitimate treasure salvage operations. The galleon San Jose carried coins and precious metals mined and smelted in Peru
The U.S. Coast Guard suspended its search 8:15 p.m. Wednesday for a 34-year-old tow boat operator who went missing Tuesday morning after the Coast Guard received a distress alert from an emergency position indicating radio beacon near Great Egg Harbor. Missing is David McAuliffe.
Coast Guard Station Charlevoix, Michigan, accept delivery of the station’s new 45-foot Response Boat-Medium, built by Marinette Marine, of Manitowoc, Wis. The RB-M can respond faster than previous boats of similar size with a top speed in excess of 40 knots and has advanced search
Following a national search, the Board of Commissioners of the Mississippi State Port Authority at Gulfport selected Jonathan Daniels as the port’s new executive director. Daniels comes to the Port of Gulfport from the Port of Oswego in upstate New York where he served as executive
The Union representing Search and Rescue (SAR) specialists with the Canadian Coast Guard (CCG) is unsurprised at findings of the Auditor General's Spring 2013 Report. "Our members are strong, dedicated individuals so it comes as no surprise that they meet the standard to respond to an
Today Day in Naval History - May 7 1942 - Carrier aircraft sink Japanese carrier Shoho during Battle of Coral Sea. The first day of the carrier battle of Coral Sea, May 7 1942, saw the Americans searching for carriers they knew were present and the Japanese looking for ones they feared might