East Timor Awards Six O&G Contracts

Thursday, May 25, 2006
The East Timor government has awarded five offshore oil and gas contract areas to Italy's Eni SpA and one area to India's Reliance Industries Ltd through a tender, according to a report from Forbes. The government has reportedly offered 11 areas in the first offshore bidding round, which was ended on April 19, of which it received a total of nine bids for six areas. A statement said the commission has identified that bids from Eni SpA for contract areas A, B, C, E, and H, and a bid from Reliance for contract area K offer best conditions and advantages. Reliance also filed a bid for area E, while Petronas consortium put bids for area C and E, which were awarded to Eni. The winning companies must enter into a production sharing contract (PSC) with the Ministry of Natural Resources, Minerals and Energy, scheduled to be completed on June 20, 2006, in order to carry out exploration, development, and production activities for oil and natural gas on offshore contract areas, according to the statement. (Source: Forbes)
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday,

Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers

Shell Want Shipper Guarantees on Nigerian Crude Exports

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters.


US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.

Danish-South Korean Co-operation Strengthened

The Danish-South Korean Green Growth Alliance met for roundtable talks yesterday. The Minister for Business and Growth's meeting with the South Korean Minister

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction 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: 0.1270 sec (8 req/sec)