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Oil Search Expects LNG Project Agreement by Year End

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


First PNG LNG Cargo Shipped by Exxon Mobil

LNG carrier: File photo

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.


Baker Hughes Rig Count Down 7

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.


U.S. Gas Rigs Up 28

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


CNOOC Searches for Oil in U.S.

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)  


US Rig Count Hits 25-Year High

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.


Coast Guard Ends 2 Searches in Gulf

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


Maritime Exercise Held in China

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


UAE-based Lamprell Leadership Shake-up

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.


Divers Search Sunken Iraqi Oil Tanker

Sterling Global Operations diver preparing to descend to wreck of VLCC Amuriyah to check for unexploded ordnance. (Photo: Sterling Global Operations)

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


ACR to Debut Pathfinder PRO SART at OTC

ACR Pathfinder PRO  Photo ACR

An important addition to any commercial vessel’s survival gear kit, the Pathfinder PRO SART is introduced by ACR Electronics, Inc. at this year’s OTC. The new search and rescue transponder expands the broad range of commercial maritime survival products offered by ACR


Oil Price Bottoming Depends on Global Growth - IEA chief

International Energy Agency (IEA) chief Fatih Birol

International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom, Birol told Reuters: "It may well be the case, but it depends on economic growth."


Growing Presence of Damen FCS 2610's in O&G Markets

Fast Crew Supplier 2610 Photo Damen

The Damen Shipyards Group’s Fast Crew Supplier (FCS) 2610 is proving to be every bit as effective in the oil and gas sector as it is in the offshore wind industry. The application of the renowned design in this arena is a response to a move in offshore O&G towards the high-intensity use


Mariner Rescued after 2 Months at Sea

Photo USCG

A 29-year-old man arrived in good condition to Honolulu Wednesday aboard a Coast Guard small boat after being rescued by merchant mariners in the Southeastern Pacific Ocean and surviving a two- month ordeal at sea. A Coast Guard 45-foot Response Boat-Medium crew from Station Honolulu safely


Man Missing after Tug Capsizes in Houston

The U.S. Coast Guard and Harris County Sheriff Department responders are searching for a missing man after he and four others were sent into the water when their tug flipped over in the San Jacinto river about a half mile south of Interstate 10 in Houston.  


Statoil Looks to the Arctic to Increase Exploration off Norway

Oil firm Statoil is looking to a rebound in exploration activity offshore Norway in the next few years with a focus on the Arctic, having curbed activity due to the oil price slump, the firm's exploration chief for Norway told Reuters.  


Thordon Bearings Launches Oil Savings Calculator

 Thordon Bearings Launches Oil Savings Calculator   Thordon Bearings has developed a bespoke modeling tool capable of calculating the amount of operational oil prevented from leaking into the world’s oceans with each installation of a seawater-lubricated propeller shaft bearing.


Golden Ocean Names New CEO and CFO

Photo: Golden Ocean

The board of Golden Ocean Group Ltd. announced a pair of leadership appointments, naming Birgitte Ringstad Vartdal as the new Chief Executive Officer of Golden Ocean Management AS and Per Heiberg as the new Chief Financial Officer of Golden Ocean Management AS.  


Kannad SAFELINK EPIRBs Recalled

Image: USCG

Kannad Marine has issued a recall of all SAFELINK EPIRBs due to a possible defect that could result in the beacon not operating in emergency situations, the U.S. Coast Guard said in a marine safety alert.   Those who own or use a SAFELINK EPIRB automatic or manual model as included in the


MSF Restarts Mediterranean Migrant Rescues

MSF Search and Rescue boat Dignity I (Photo: MSF)

The medical relief charity Medecins sans Frontieres has relaunched rescue operations in the Mediterranean Sea, accusing European governments of failing to act to save migrants in peril at sea, it said on Monday.   MSF halted its maritime rescue programme in January


El Faro’s Voyage Data Recorder Located

Voyage data recorder next to El Faro mast on ocean floor (Photo: NTSB)

The voyage data recorder (VDR) belonging to sunken cargo ship El Faro was found early Tuesday morning in 15,000 feet of water, about 41 miles northeast of Acklins and Crooked Islands, Bahamas, the National Transportation Safety Board (NTSB) announced.  


Another Mission Needed to Recover El Faro’s VDR

Voyage data recorder next to El Faros mast on ocean floor (Photo: NTSB)

The investigative team who located the El Faro’s voyage data recorder (VDR) has determined that another mission will be necessary in order to retrieve the device, which may contain recorded conversations and sounds from the ship’s navigation bridge


Unmanned Aircraft Features Maritime Radar

Photo: TEKEVER

An updated version of the shipborne UAS AR3 NET RAY is touted as the first in class providing maritime radar capability   The UAS producer TEKEVER is launching at Xponential-AUVSI, a new version of its AR3 Net Ray shipborne UAV with an increased payload weight capacity to allow integration


Fishing Crew Missing off Wales

The U.K. Coastguard is searching for the crew of a sunken fishing vessel near St David’s Head, Pembrokeshire.   The Coastguard said it received a 999 call from a member of the public just before 14:30, April 28, to say they could see a fishing vessel in difficulty near the rocks at St


ECSA Looks Forward to Improvement of Shipping Conditions in Arctic

Photo: The Whitmore Group

 European shipowners believe that the three priority areas of the new EU Arctic Policy Communication published by the Commission this week address all topical Arctic matters. Climate change and environment, sustainable development and international cooperation in the Arctic are equally






 
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