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
U.S. Coast Guard and police boats cleared a way through protesters in kayaks at a Seattle-area port on Tuesday so a drilling ship could head for the Arctic on behalf of Royal Dutch Shell. The Noble Discover is the second drilling ship Shell has sent to the area in recent days.
A ferry carrying 189 passengers and crew capsized off the central Philippines in heavy waves on Thursday, killing at least 36 people but the majority of those on board were rescued, the coast guard and police said. The MBCA Kim-Nirvana, a motorised outrigger with 173 passengers and 16 crew on
Divers will search waters in the central Philippines on Friday for 15 people still missing after a ferry carrying 187 passengers and crew sank a day earlier, killing 38 people, the coast guard said. There were 134 survivors after the MBCA Kim-Nirvana, a motorised outrigger
U.S. wildlife managers released on Thursday a draft plan for stemming the decline of polar bears threatened by melting Arctic sea ice linked to global warming, but the proposal hinges on reductions in greenhouse gas emissions that are far from assured.
Three stranded mariners adrift in the Torres Straight have been rescued thanks to the crew of a Royal Australian Air Force AP-3C Orion maritime patrol aircraft. Following a request from the Australian Maritime Safety Authority, the Orion aircraft detected three occupants in a five meter
The Chinese government on Wednesday rolled out more details of the building work it is undertaking in the disputed South China Sea, listing lighthouses, communications stations and other facilities for civilian and emergency use. China stepped up its creation of artificial islands last
MT Orkim Harmony, the fuel-laden Malaysian tanker that “disappeared” off the east coast of Johor last Thursday has been detected in Cambodian waters, according to Chief of Navy Admiral Abdul Aziz Jaafar says a report in Bernama.
A cruise ship struck a lock wall in the Saint Lawrence Seaway upstate New York Thursday night, injuring several passengers, the U.S. Coast Guard reported. There were 274 people, including passengers and crew, aboard the 286-foot vessel Saint Laurent when the ship allided with a wall in
Norway's Maritime Partner is set to reach a landmark in its history as it completes the construction of its 2000th vessel since founding in 1994. Maritime Partner CEO Peder Myklebust said the Aalesund based company is ‘immensely proud’ that its 2000th boat will be delivered to its
A Norwegian ship rescued more than 600 migrants from two wooden boats on Monday in the southern part of the Mediterranean, the Norwegian police said on Twitter. All migrants picked by the ship, the Siem Pilot, were healthy, including several pregnant women, the Norwegian authorities said.
After six years of digging, General Electric Co. expects to finish this year removing some 2.7 million cubic yards of contaminated river sediment in upper Hudson River in Waterford under its landmark Superfund agreement with the federal Environmental Protection Agency.
Continuing with the series of search and rescue operations undertaken and coordinated by Coast Guard Western Region in last two days, the Indian Coast Guard undertook another lifesaving mission by evacuating the chief officer from vessel MT Pristine GV anchored off Mumbai.
Two New Zealand sailors and their Mexican skipper were rescued from a liferaft 280 kilometers south of Niue after their yacht caught fire just after midnight June 23, Maritime New Zealand reported. The 15-meter U.S.-registered yacht SV Sunny Deck was travelling from Rarotonga to Tonga
Search efforts for a missing Olympic sailor, Trevor Moore, in Biscayne Bay, Florida, were suspended Saturday evening at sunset. The Coast Guard and partner agencies covered more than 510 square nautical miles and completed more than 29 search patterns before suspending the three day
The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive search that drew an expansive range of applicants, the college announced today.