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.
The U.S. Coast Guard Research and Development Center (RDC) plans to test and evaluate oil spill detection and recovery technologies in the Arctic Ocean as part of Operation Arctic Shield 2013. A multi-agency team of engineers and scientists led by RDC researchers will conduct a series of demonstrations in September 2013 aboard Coast Guard Cutter Healy to test and evaluate capabilities of various unmanned aerial systems (UAS)
Marine Link reported last week that four unauthorized workers were spotted near the wreckage of Costa Concordia. The four divers, allegedly searching for souvenirs, have since been arrested and brought up on charges for theft and violating a crime scene
The U.S. Coast Guard has reopened a portion of the Mississippi River near Baton Rouge after it was partially closed due to a barge that sank Monday. A portion of the river had been closed to commercial deep-draft traffic after a deck barge sank November 11
U.S. Coast Guard Sector Sault Ste. Marie, Mich., said it regained normal communications capabilities in the northern Great Lakes region Tuesday, following outages throughout the region as a result of storms. Restored communication capabilities include Rescue 21 coverage throughout northern Lake
Joakim (Kim) Ullman has been appointed President of Concordia Maritime AB with effect from 1 January 2014. Kim comes from Stena LNG where he has been CEO since 2012 and he will replace Hans Norén who will leave Concordia Maritime at the end of the year after ten years as president.
A U.S. Coast Guard air crew assisted the Canadian Coast Guard in locating an overdue boater early Monday morning in the vicinity of Bassett Island in northeastern Lake St. Clair. Just before midnight Sunday, a search-and-rescue controller at the Coast Guard 9th District command center
A tourist ferry has capsized in Thailand, near the beach resort city of Pattaya. 200 Thai and foreign tourists were on the (allegedly overloaded) double-decker ferry reports RT News. Marines from Thailand’s Sattahip Naval Base have been deployed to search for the ship and missing
The U.S. Coast Guard rescued three people Monday after their 68-foot fishing vessel started to sink 36 miles southwest of Sanibel Island. A member of Sea Tow Marco Island contacted Coast Guard Sector St. Petersburg watchstanders reporting they overheard a crewmember aboard the Cheyenne call out
Five crew members from a French fishing vessel have been winched to safety after their boat sank in stormy conditions off the Cornish coast. Falmouth Coastguard was first contacted just before 1 a.m. this morning by the French Coastguard
The call came in two days ago: an aircraft with 40 passengers aboard had gone down in a remote area somewhere along the Alaskan-Canadian border. The Federal Aviation Administration, which had been monitoring the flight, received the distress call before losing contact with the aircraft.
The U.S. Coast Guard completed Arctic Shield 2013 after a successful summer season of sustained operations and outreach efforts in the Arctic region Friday. Arctic Shield focused on Western Alaska and the Bering Strait and consisted of a three-pronged approach of operations
Multiple sources reported that Royal Caribbean’s Allure of the Seas, the world’s largest cruise vessel, has encountered difficulties with its propulsion system, impeding full speed capabilities. The ship is reported to be functional, but sailing at reduced speeds.
The Coast Guard, with the assistance of the Navy, saved four lives and responded to a total of five sailboats in distress off the Atlantic Coast Thursday and Friday. Coast Guard assets and personnel involved in Thursday and Friday's search
Three Coast Guardsmen suffered non-life threatening injuries Friday after their rescue boat capsized in the surf off Puerto Rico. The search-and-rescue crew was responding with other local agencies to a report of two people in the water two nautical miles northeast of San Juan Harbor when the
Shipping solutions provider BASS is going deep into Malaysian waters, signing on Sealink Sdn Bhd, a wholly-owned unit of Sealink International Bhd, to equip it with the state-of-the-art Human Resource Management solution, BASSnet HRM 2.8.
The U.S. Coast Guard and commercial crews are searching for a missing crewman from the offshore vessel Dustin Danos 60 miles southwest of Port Fourchon, Saturday. Watchstanders with Coast Guard Sector New Orleans received a report of a missing crewman last seen aboard the Dustin Danos earlier