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.
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.
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
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.
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
The state-run China Daily says that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is "illegal and is an "unwise move" that may "sabotage" positive momentum in ties. "India's intention to once again explore for oil in
There’s hardly anything that can’t be shipped in a container. However, for ethical reasons, Hapag-Lloyd refuses to transport certain goods. Anyone who regularly transports goods for third parties, as a shipping company does
A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is heading to the scrap yard, a victim of the slide in oil prices. Christened the Hughes Glomar Explorer, after billionaire Howard Hughes was brought in on the CIA's deception
The U.S. Department of State awarded a contract to boatbuilder Willard Marine, Inc., to provide the Philippine National Police Maritime Group with patrol vessels equipped to conduct search and rescue operations along Philippine maritime borders.
US Army's Foreign Military Studies Office (FMSO) said in its August 2015 report that Moscow is building up its military presence and moving highly advanced and specially modified air defense systems in the resource-rich Arctic region.
U.S. crude oil prices on Friday dove below $40 a barrel for the first time since the 2009 financial crisis, notching their longest weekly losing streak in 29 years after a further rise in U.S. drilling and a drop in Chinese manufacturing.
Stig Eide Sivertsen is appointed as Chief Executive Officer of Electromagnetic Geoservices Bjarte Bruheim has decided to step down as Chief Executive Officer of Electromagnetic Geoservices ASA with immediate effect. He has held this position since 7 January 2015, and before that
The search for a man who reportedly jumped overboard from a freighter near Big Sable Point in Lake Michigan early Sunday morning has been suspended, the U.S. Coast Guard reported. Watchstanders at Coast Guard Sector Lake Michigan received a report just before 2 a.m
U.S. Coast Guard crews from Southeastern New England conducted various evolutions with the Royal Canadian Navy to train and improve the inter-operability of the two nations’ militaries and surface search and rescue assets. Coast Guard Station Woods Hole, Station Provincetown
Maersk Oil said on Wednesday it would seek regulatory permission to shut its Janice installation, which produces around 7,000 barrels per day (bpd) from three UK North Sea oilfields, as the Danish firm reviews its operations due to falling oil prices.
A man found guilty of making numerous hoax calls to the U.K. Coastguard has been jailed for four months, the U.K. Maritime and Coastguard Agency (MCA) reported. Alasdair Munro, 55, from Kyleakin, Skye, denied all charges before Sheriff Scott at Portree Sheriff Court on August 27, 2015
The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze, at Syncrude Canada's Mildred Lake upgrading complex in northern Alberta, and no one was injured
President Barack Obama on Tuesday proposed a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic and the United States has fallen far behind Russian resources.
Mediterranean Rescue Services are in urgent need of support because they are struggling to keep up with the replacement of equipment being used to rescue the increasing numbers of migrants in their waters and have contacted the International Maritime Rescue Federation (IMRF) for help.
Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities, the state oil company chief said on Tuesday. The Niger delta has been plagued by oil theft for years that has