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.
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)
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 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
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
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.
The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family relief fund on Friday to support the 33 mostly-American families of the crew.
The Interagency Coordinating Committee on Oil Pollution Research (ICCOPR) unanimously approved the Oil Pollution Research & Technology Plan (OPRTP) for FY2015-2021 at the committee’s quarterly meeting Sept. 29, 2015, in Arlington, Virginia.
Volvo Penta today announced a new extended service interval for its commercial marine diesel engines. Under the new program, owners can double the maximum oil change interval to 1,000 hours for Volvo Penta D9, D11, D13 and D16 engines by meeting the following requirements:
Anthony Chiarello, President & CEO of TOTE, owner of the cargo ship presumed to have sunk with 33 mariners aboard last week amid Hurricane Joaquin, issued a statement Wednesday afternoon promising continued support to the families of the mariners lost aboard the missing El Faro.
President Barack Obama on Wednesday offered condolences to the families of the 33 sailors presumed to have lost their lives aboard cargo ship El Faro which is believed to have sunk amid Hurricane Joaquin last week. The investigation into the incident will receive the
U.S. Maritime Administrator Paul Jaenichen has issued a statement following the U.S. Coast Guard’s announcement that it will suspend the search for survivors from the missing cargo ship El Faro. “All of us at the Department of Transportation and the Maritime Administration
The U.S. Coast Guard will call off its search for potential survivors from the missing cargo ship El Faro, several media sources reported Wednesday. The search will end Wednesday night, according to CNN, who cited family members with relatives aboard the vessel that went missing last
On Thursday evening, October 1, 2016, the ship EL FARO went missing. The ship was en route from Jacksonville, Florida to San Juan, Puerto Rico. On Monday, four days after the ship vanished, the Coast Guard concluded it sank near the Bahamas in about 15,000 feet of water
Responders continue the hunt for possible survivors from the missing cargo ship El Faro, which is believed to have sunk during Hurricane Joaquin. As of Tuesday night, crews have searched some 172,257 square nautical miles while scanning in the vicinity of the ship's last known position 35
Federal safety investigators traveled to Florida on Tuesday to investigate the U.S. container ship lost at sea after being hit by powerful Hurricane Joaquin, leaving one person confirmed dead and 32 others missing. The team from the National Transportation Safety Board left Washington for
Coast Guard search and rescue crews continue searching for possible survivors from the cargo ship El Faro Monday night, covering a total search area of more than 160,574 square nautical miles. While searching in the vicinity of the ship's last known position 35 nautical miles northeast
The U.S. Coast Guard on Monday said its crews had found a body and an empty, heavily damaged lifeboat in their search for the cargo ship El Faro, believed to have sunk after going missing off the Bahamas in Hurricane Joaquin. Rescuers are no longer looking for the ship
Search and rescue teams resumed scouring the seas on Monday for the missing cargo ship El Faro and it mostly American crew, after it was caught in the eye of Hurricane Joaquin four days ago, the U.S. Coast Guard said. More than 70,000 square nautical miles have been searched so far
The U.S. Coast Guard now believes that the missing cargo ship El Faro sank after sailing into the path of Hurricane Joaquin in the Bahamas, a spokesman said on Monday. Rescuers continue to search for survivors, said Chief Petty Officer Bobby Nash in Miami.
Search and rescue teams on Sunday located debris which appeared to belong to the cargo ship El Faro that went missing in the eye of Hurricane Joaquin with 33 mostly American crew members aboard, the U.S. Coast Guard and the ship's owner said.