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:]
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Baltic Index Slips as Demand Falls

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Monday as demand dropped across all vessel categories.

Becker Marine, Kotug Sign MOU for LNG Hybrid Barge

Press release - Becker Marine Systems and KOTUG signed a Memorandum of Understanding to launch a LNG Hybrid Barge in the Port of Rotterdam with effect from June 2017.

SSL Expands into Finland for Höegh Autoliners

Höegh Autoliners has appointed Scandinavian Shipping & Logistics (SSL) as its agent in Finland from December 1, 2015. SSL, which has worked with Höegh Autoliners


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.

Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1307 sec (8 req/sec)