Billions in Bids Opened For Offshore Oil And Gas Tracts

Monday, October 08, 2007
A total of $2.9b in high bids were opened recently at a sale of federal offshore oil and gas leases in the central Gulf of Mexico. Officials say it was the second largest such sale for central Gulf tracts. Seventy-three companies are competing for the tracts. In all there were 1,428 bids on 723 tracts. The bids were opened by the US Minerals Management Service, which manages the leases. Many of the tracts receiving bids were in ultra-deep water, or in depths of 800 meters or greater. Development of such leases can take hundreds of millions of dollars in investments and take years to bring into production. Also drawing continued interest were tracts of 200 meters or less on the shallow Gulf shelf. They are considered prime ground for the development of natural gas deposits deep in the earth. The central Gulf sale has been generally held in March. This year's sale was delayed by a dispute between Louisiana Gov. Kathleen Blanco and the federal Interior Department over the state's share of offshore royalties. In December 2006, Congress agreed to send Louisiana about $13b expected over the first 30 years for storm protection, flood control and coastal restoration projects. [Source: http://www.kwtx.com]
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Offshore

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Oil Companies Bidding for Blocks in Colombia

Oil companies were bidding on Wednesday for 95 oil areas Colombia is offering for exploration and production in an effort to raise output from around 1 million

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1483 sec (7 req/sec)