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.
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.
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
An international search has focused on waters west of the Australian city of Perth, with teams racing against time to detect signals before the flight recorder batteries – which last about one month – run out, are to send down a [Bluefin Robotics manufactured] Bluefin 21 AUV
The U.S. Coast Guard is searching for a male crewmember reported overboard from a container ship approximately 805 miles northeast of Oahu, Monday. Watchstanders at the Coast Guard Joint Rescue Coordination Center were notified at approximately 8:23 a.m
U.S. and Canadian Coast Guard crews continue to search for three people in the water in Lake Erie, Thursday, after one body was recovered and a boat was found five miles northeast of Locust Point, Ohio. The Coast Guard is not releasing the names of the missing people or the recovered individual
U.S. President Barack Obama on Thursday expressed condolences to the families of the victims of the South Korean ferry sinking and said the U.S. military will provide the country with any help it needs to perform rescue operations. Rescuers are battling strong waves and murky waters as they
A Mongolian-flagged cargo ship has sunk off the southern coast of South Korea, with most of the 16 North Korean crew members on board missing, according to South Korean coast guard officials Two crew members were found dead and three were rescued
A Chinese patrol ship searching for missing Malaysia Airlines flight MH370 detected a pulse signal with a frequency of 37.5 kHz per second in the south Indian Ocean on Saturday, state news agency Xinhua reported. 37.5 kHz per second is currently the international standard frequency for the
Japan Petroleum Exploration Co (Japex) said on Monday it has begun the country's first commercial production of shale oil in Akita prefecture in northern Japan this month. Daily production from shale layers deep below the Ayukawa oil and gas field was about 220 barrels of crude (35 kilolitres)
The Coast Guard Authorization Act of 2010 removed the size limit on offshore supply vessels (OSVs). The Act also directed the Coast Guard to issue, as soon as is practicable, a regulation to implement section 617 of the Act and to ensure the safe carriage of oil, hazardous substances
Maritime tracking AIS facility MarineTraffic has opened up its satellite-AIS service in the search area relevant to the missing MH370 airliner. Following requests from numerous agencies and individuals, this usually paid-for service has now been made available to any user free of charge.
The Coast Guard, along with the Arkansas Game and Fish Commission and the Mississippi County, Ark. Sheriff's Department, are searching for two people in the water near a sunken barge in Hickman Landing Wednesday. Watchstanders at Coast Guard Sector Lower Mississippi River received a report at
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The U.S. Coast Guard said continues its search for a skiff with two people aboard near Ujae Atoll, Wednesday. Assisting in the search is an HC-130 Hercules airplane crew from Coast Guard Air Station Barbers Point, Oahu, the Republic of Marshall Islands’ Pacific Patrol Boat RMIS Lomor and
U.S. exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published on Thursday. Proved reserves of crude stood at 30.5 billion barrels at the start of 2013.
Brazil's Federal Police raided the headquarters of state-run oil company Petroleo Brasileiro SA in Rio de Janeiro as part of a money-laundering probe, two sources with direct knowledge of the operation told Reuters on Friday. The police said they were exercising 23 search and arrest warrants in
A Coast Guard MH-65 helicopter crew located a body, Sunday, which fits the description of a man missing since Friday morning, in San Antonio Bay. At 3:50 p.m., a Coast Guard aircrew spotted a body on the west side of San Antonio Bay