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 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.
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
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
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
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
More than 10 percent of Wallem’ Ship Managements fleet was presented with Amver (Automated Mutual-Assistance Vessel Rescue System) Awards by Captain Michael H. Sim, United States Coast Guard Liaison Officer to China, in Hong Kong today.
Coast Guard and National Oceanic & Atmospheric Administration researchers report the successful landing of an unmanned aircraft system on the flight deck of Coast Guard Cutter 'Healy', marking the first time a UAS has completed a take-off and landing aboard a Coast Guard icebreaker.
Shared development of oil, gas and possibly other natural resources is the most promising option for reducing tensions in the South China Sea and should be the focus of efforts to improve diplomatic relations between China and its coastal neighbors.
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The Coast Guard rescued a man in a life raft after his sailboat sank approximately seven miles south of Diamond Head, Tuesday. Watchstanders at the Coast Guard Sector Honolulu command center overheard a brief mayday call over VHF channel 16 at 7:43 p.m., with no additional information.
Fifteen foreign tourists were missing on Sunday after a boat travelling between islands in eastern Indonesia sank, an Indonesian search-and-rescue official said. Suryaman, based on the island of Lombok, told Reuters that 10 people had been rescued after the ship sank on its way from that island
Bad weather was hampering a desperate search on Monday for two foreign tourists still missing after a boat travelling between two Indonesian islands sank at the weekend, although 13 more people had been plucked from the water alive, officials said.
The U.S. Energy Information Administration plans to release two reports in September examining some of the issues surrounding a potential end to the nation's decades-old ban on most crude oil exports, the EIA's chief said on Monday. Some lawmakers have pressed the EIA
U.S. Coast Guard search-and-rescue crews are responding to a reported downed Cessna aircraft with four people aboard in the vicinity of Freeport Bahamas Airport, Bahamas, Monday morning. The Federal Aviation Administration reported the crash to watchstanders at the Coast Guard 7th District at
The U.S. Coast Guard suspended its search Tuesday for a man who went missing after his shrimp boat overturned Monday near Cedar Bayou on the Houston Ship Channel. The Coast Guard, Chambers County Sheriff’s office, Port of Houston Fire Department
U.S. Customs and Border Protection Office of Air and Marine agents assigned to the North Dakota Air Branch have located four people on Red Lake after a call for assistance came in from the Red Lake Police Department. The incident began at approximately 2 a.m
U.S. Coast Guard (USCG) search-and-rescue crews are currently searching for a burglary suspect in the vicinity of the Rickenbacker Causeway near Miami, Fla. Friday morning. At approximately 2 a.m. Friday morning, watchstanders at Coast Guard Sector Miami received a report that two men
Coast Guard search-and-rescue crews suspended their search for a burglary suspect in the vicinity of the Rickenbacker Causeway Friday afternoon. At approximately 2 a.m. Friday morning, watchstanders at Coast Guard Sector Miami received a report that two men, suspected of burglary
The Coast Guard ended its active search for a missing 65-year-old man near Malletts Bay, in Lake Champlain, Vermont, at 8:05 p.m. Sunday, pending further developments or reports. Crews searched nearly 40 square miles for Brian Webb but found no sign of him. Searching were crews from:
At least 25 migrants die during weekend Mediterranean crossings; Italy says has rescued almost 4,000 in last 48 hours. Italy's search and rescue services have found six more bodies in the Mediterranean to add to the death toll of 19 over the weekend, the navy said on Monday