Newfoundland Plans Offshore Oil-Drilling Auction

Friday, March 24, 2006
Newfoundland, Canada's second largest oil- producing province, plans the third-largest auction of offshore drilling rights in its history after ending a territorial dispute with neighboring Nova Scotia. The province plans to sell rights to more than 4.23 million acres of oil and natural-gas exploration properties, including three parcels in the formerly disputed Sydney Basin, Bloomberg reported. Bids are due in November. The auction will include 11 parcels that are being offered at the request of producers. The Sydney Basin concessions account for about 45 percent of the acreage. The province has only twice sold rights to more than 4.23 million acres, in 1990 and 2003. About 741,000 acres of properties were sold in last year's Newfoundland auction for $34 million. The province sought to sell almost double that total. (Source: Bloomberg)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

China Building Island Big Enough for Airstrip

Satellite images show China is building an island on a reef in the disputed Spratly Islands large enough to accommodate what could be its first offshore airstrip in the South China Sea,

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1463 sec (7 req/sec)