Marine link
 

Oil Search

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.


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.


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


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


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


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


Dalco Passage Spill

The Washington State Department of Ecology established an Internet site regarding the Dalco Passage oil spill. On October 14, approximately 1,000 gallons of oil will released by an unknown source into waters of Puget Sound. Cleanup has been completed and investigators are still searching for the source. As a result of this spill, the State and the U.S. Coast Guard have established an Oil Spill Early Action Task Force to look into ways to improve early notification procedures


Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships (VSS) core business is within the Offshore and OffshoreIcebreaking segment on a World Wide basis. Photo VSS

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for Eni Norge in the Barents Sea and has also been part of the extended towing-preparedness in the area on behalf of the


Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will start lifting a blockade on eastern oil terminals over the next three days, though a resumption of exports will depend on the state of


Transneft to Reroute Oil if Turkey Closes Straits

Russia's oil pipeline monopoly Transneft has the capacity to reroute oil from Russia and the Caspian Sea to other destinations if Turkey shuts the Bosphorus or Dardanelles straits, RIA News agency cites Transneft chief as saying. Turkish maritime authorities on Saturday shut the Bosphorus


Coast Guard IMSARC Demo a Success

Major Marine Rescue Demo On Lough Foyle Photo RNLILough Swilly

The Irish Coast Guard coordinated a successful Marine Search and Rescue demonstration on Saturday 16th July. The exercise in Moville Co Donegal involved some of Ireland’s principal Search and Rescue resources.   Participants included Donegal based volunteer Coast Guard units


NOIA Applauds Passage of House Interior Appropriations Bill

NOIA - Randall Luthi President of the National Ocean Industries Association

NOIA President Randall Luthi released the following statement after the House of Representatives passed the 2017 Interior and Environment Appropriations bill: “NOIA applauds members of the House of Representatives for passing the first Interior and Environment Appropriations bill since


UK Convicts Captain, First Mate of Drug Trafficking

(Photo: NCA)

The captain and first officer of an ocean going tug boat have been found guilty of drug trafficking following the biggest ever U.K. seizure of class A drugs, the country’s National Crime Agency (NCA) announced.   The cocaine, worth an estimated potential street value of £512


Big Win for Maersk Fluid Technology’s BOB System

Maersk Pearl – one of the vessels to be equipped with B1000 Blending-On-Board system from Maersk Fluid  Technology Photo Maersk

In the second half of 2015, Maersk Fluid Technology introduced a new version of its cylinder oil ‘Blending-On-Board’ (BOB) system, targeting medium-sized 2-stroke propulsion engines with a cylinder bore between 420 and 680 mm.


Search Vessel Recovers Human Remains at EgyptAir MS804 Crash Site

EGYPTAIR FLIGHT MS 804 PARIS CAIRO PHOTO EGYPTAIR

 A search vessel contracted by the Egyptian government has recovered all mapped human remains under water at the crash site of EgyptAir flight MS804 in the Mediterranean, Egypt's aircraft accident investigation committee said on Sunday.


India's Iran Oil Imports Surge in June

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows.   In the first half of 2016 India's Iran oil imports surged by about 58 percent to about 342,000 bpd, the data showed, in comparison with 216,500 bpd in the same period last year


BIMCO - Oil Product Tankers Earnings Decline as stockbuilding Slows Down

Oil Product Tanker Earnings

BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016. The oil product tanker market has reached a net fleet growth of 4.3m DWT so far in 2016


Offshore Oil Oscillations In West Africa

Graph: Clarksons Research

 Global excess oil supply still looks likely to average 0.5m bpd in 2016 – sufficient, it would seem, to stop oil prices rising much above $50/bbl and therefore to forestall a recovery in E&P activity and the offshore markets, Clarksons Research.  


LUKOIL Introduces New Crankcase and Cylinder Oils

Piston crown on NAVIGO 6 CO in excellent condition (Photo: LUKOIL Marine Lubricants)

 LUKOIL Marine Lubricants has introduced the newly formulated NAVIGO 6 CO crankcase oil and NAVIGO 70 MCL AW cylinder oil, offering newly designed additive packages and additional benefits with regard to thermal and oxidation stability, corrosion prevention and wear protection.  


This Day In Naval History: June 23

1812 - During the War of 1812, Commodore John Rodgers leads a squadron onboard USS President off New York until she battles HMS Belvidera. The first shot of the War of 1812 is fired by USS President during this engagement.   1861 - During the Civil War


OOCEP Ships First Crude Oil from MGP Terminal

Marsol performing the tanker operations (Photo: Marsol International)

Oman Oil Company Exploration & Production LLC (OOCEP) shipped its first crude oil cargo from the Musandam gas plant (MGP) with the support of UAE-based Marsol International.   OOCEP, a subsidiary of Oman Oil Company S.A.O.C exported 300,000 barrels of crude oil as part of the operation


Damen, Ampelmann Team up for Marine Access Demonstration

FCS 5009 with Ampelmann L-type Photo Damen

Damen Shipyards Group has teamed up with the global leader in motion compensation access solutions, Ampelmann, to conduct tests with Ampelmann’s L-Type system on board a Damen Fast Crew Supplier (FCS) 5009. Damen is developing its marine access solutions in order to guarantee increased safety






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright