Bidding for PNG’s Offshore Oil Leases On

Friday, September 15, 2006
The Papua New Guinea Government received confirmation of global interest in bidding for 15 exploration blocks in the Gulf of Papua when 60 executives from more than 30 international oil and gas companies attended their inaugural road show in Singapore. The companies included the big British Gas Group, ChevronTexaco, CNPC of China, Hunt Oil Company, Korea Gas Corporation, Mitsubishi, Nippon, Pearl Energy Ltd, Petronas, Premier Oil, Repsol and Singapore Petroleum.

Sir Moi told the audience that the area was selected because of their newly recognised prospectivity and proximity to onshore discoveries as well as finds in the offshore Papuan sedimentary basin. Independent assessment of the offshore areas of the eastern Gulf of Papua and out into the Coral Sea was done by Fugro Multiclient Services, a subsidiary of the Fugro Group, which is a major geo-science and technology business specialising in marine petroleum geophysics. He said although PNG has law and order problems which are common features of a developing nation, it has been host to some world class mining and petroleum projects developed and operated by industry majors such as Rio Tinto, BHP Billiton, ChevronTexaco and ExxonMobil. With the official opening of the bidding process by Sir Moi in Singapore on Wednesday, the licensing round process will continue until April 13 next year. Source: The National

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

EOC Takes Full Ownership of OSVs

On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore,

Navy

East and South China Sea Disputes Need Creative Diplomacy

China and the United States appear headed for a damaging confrontation over the extent of China's territorial claims in the South and East China Seas. Now that

Darwin, Australia Scene of KAKADU Exercise Planning

Over 1,200 military personnel from the Asia Pacific and Indian Ocean regions have completed collaborative, tactical warfare planning during the first week of the

Navy Autonomous Underwater Vehicle Delivery Milestone

Commander, Submarine Development Squadron 5 (CSDS 5), Detachment UUV, informs of the delivery of Large Training Vehicle 38 (LTV 38), an unmanned undersea vehicle (UUV),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction 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: 0.1453 sec (7 req/sec)