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

Contracts

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

US Navy Orders Demonstration Craft from Willard Marine

Willard Marine, Inc. (WMI) announced it has been selected through a solicitation process to supply a demonstration model of a new, advanced combatant craft for the U.

Offshore

Renewable Energy: Schottel Tidal Turbines Ready For Use

In the last months Schottel  successfully tested its hydrokinetic turbines in Strangford Lough, Northern Ireland. The full-scale tests included 260 operating hours under realistic conditions.

Total CEO Killed in Moscow Runway Accident

Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors.

Statoil: New Oil in the Grane Area

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader,

 
 
Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1279 sec (8 req/sec)