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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.


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


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


Exxon's $19 Bln PNG Plant could change country's fortune

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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


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


Phoenix International Awarded US$75-M Subsea Navy Contract

Subsea salvage work: Photo USN SUPSALV

US Department of Defense inform that Phoenix International Holdings Inc., Largo, Maryland, is being awarded a $75,000,000 indefinite-delivery/indefinite-quantity, cost-plus-award fee contract for worldwide undersea deep ocean search and recovery operations and associated services to support


USCG in Search of Missing Man in Lake Michigan

The Wild Irish, a 26-foot sailboat. Kiehm is reported to be on the boat in Lake Michigan.

  The Coast Guard is searching for a man who went missing on Lake Michigan, Tuesday. Missing is 48-year-old Joseph Kiehm from Milwaukee. Kiehm was last seen aboard his 26-foot white sailboat, the Wild Irish, at McKinley Marina in the Milwaukee Harbor between 11 a.m. and 4 p.m., Tuesday


Upcoming Expo 'Offshore Marintec Russia'

Marintec logo

ExpoForum Convention and Exhibition Centre in St. Petersburg, October 7-10  will host the International Specialised Offshore Exhibition and Conference 'Offshore Marintec Russia' dedicated to the Arctic continental shelf infrastructure development informs official Russian news source


Two US Navy Jets Crash into The Pacific

An MH-60S Sea Hawk helicopter from the Red Lions of Helicopter Sea Combat Squadron (HSC) 15 lands on the flight deck of the Nimitz-class aircraft carrier USS Carl Vinson (CVN 70) during search and rescue operations for the pilot of one of two F/A-18 Hornets which crashed earlier in the day while operating from the ship. The other pilot was located and returned to Carl Vinson for medical care. (U.S. Navy photo by John Philip Wagner, Jr.)

The pilot of one of two F/A-18 Hornets that crashed Sept. 12 while operating from USS Carl Vinson (CVN 70) is in fair condition and receiving medical treatment aboard the ship. Search efforts continue for the missing pilot. At the time of the incident


Oil Demand Growth Slowing at 'Remarkable' Pace

  World oil demand growth is softening at a remarkable pace as the European and Chinese economies falter, the West's energy watchdog said on Thursday, while supplies grow steadily, particularly from North America. "The recent slowdown in demand growth is nothing short of remarkable


New Clues Discovered in Australian AE1 Search

Photo: Richard Cordell

The Australian Defense Force (ADF) confirmed that a number of contacts of interest were discovered during the search for lost 1914 submarine AE1 by HMAS Yarra in the Duke of York Islands, Papua New Guinea. The contacts were located during the search for HMAS AE1 conducted between September 6-9


Elusive Franklin Expedition Ship Found at Last

 Franklin ship: Image courtesy of Parks Canada

After more than 160 years of searching to understand the fate of English explorer Sir John Franklin’s fabled arctic voyage, Prime Minister Stephen Harper announced a Canadian team has located one of Franklin’s historic ships and solved one of the world’s greatest archaeological


Sound Oil Promotes Italy MD to its Board

Luca Madeddu, Sound Oils Italian Managing Director

  Sound Oil, the Mediterranean focused upstream oil and gas company, is pleased to announce that Luca Madeddu, Sound Oil's Italian Managing Director, has been appointed to the Board with immediate effect.   Luca has been with Sound Oil since 2012 and brings over 24 years of experience


Search Continues for Lost 1914 Submarine

Royal Australian Navy Minehunter, HMAS Yarra, has been undertaking an underwater search off Papua New Guinea for HMAS AE1, the Navy’s first submarine. AE1 was lost without a trace on September 14, 1914, with her full crew of three officers and 32 sailors.


ADF Deploys with Chinese Navy Hospital Ship

Peace Ark (Photo courtesy of the Chinese Military)

Two Australian Defense Force (ADF) medical officers have joined the Peoples’ Liberation Army (PLA) - Navy hospital ship Peace Ark on its medical assistance mission currently under way in the South Pacific. The deployment results from an invitation from the Vice Chairman of the Central


USCG Suspends Search for Downed Aircraft near Jamaica

USCG emblem

  The Coast Guard suspended their search Sunday at approximately 11 a.m. for two possible survivors of a plane in the water 14 miles north of Port Antonio, Jamaica, Friday. Watchstanders at Coast Guard 7th District command center in Miami received a call from U.S. Northern Command at 11 a


U.S. Merchant Bank Buys Aging Newfoundland Refinery

  A New York-based commodities merchant bank run by veteran energy traders, Neal Shear and Kaushik Amin, announced on Friday plans to buy the aging Come by Chance refinery in Newfoundland from South Korea's state-run oil company. Korea National Oil Corp said it will sell the 115


KNOC Sells Aging Newfoundland Refinery to SilverRange

  Korea National Oil Corp said on Friday that it would sell its 115,000-barrel-per-day refinery in Come by Chance, Newfoundland, to SilverRange Financial Partners LLC for an undisclosed price following a months-long search to find a buyer.


USCG, Good Samaritan Rescue Boater on S. Lake Michigan

Image

  The Coast Guard and a good Samaritan found and rescued a man Saturday morning, who had been missing since Friday afternoon on lower Lake Michigan. The Coast Guard is not releasing the man’s name and there is no imagery of video available.


McMurdo Establishes Americas Headquarters

Photo courtesy of the McMurdo Group

McMurdo Group, a company in end-to-end search and rescue (SAR) and maritime domain awareness (MDA) solutions, announced that it has formally established its Americas Headquarters in Beltsville, Maryland located within the Baltimore (Maryland)/Washington D.C. metropolitan area






 
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