Mercator Lines to Explore Oil Offshore

Monday, January 15, 2007
Mercator Lines, is planning to expand its business portfolio by foraying into the offshore oil exploration sector. The company is looking for global partners to form a consortium to bid for Indian offshore blocks under the forthcoming round of NELP bids, apart from overseas blocks, including some of the South East Asian and Arabian Gulf blocks.

It is in talks with a few European companies, sources said. Mercator Lines, which has forayed into offshore support services and is in the process of acquiring a $180m drilling rig, is aiming at forward integration by getting into the exploration business, which would also give it a captive market for its fleet of rigs and other offshore assets. The company's foray into the oil exploration segment will be spearheaded by its subsidiary, Mercator Oil and Gas Ltd (MOGL).

The subsidiary had earlier initiated a foray into offshore segment by tying up with Gujarat State Petroleum Co, but the move did not result in anything concrete. Apart from offshore exploration, Mercator also has plans to get into offshore construction, including construction of platforms and pipelines, the sources said. Source: Moneycontrol.com

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

People & Company News

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.

Alu Design to Create Next Generation of Marine Chairs

There’s a new designer in the driving seat at Alu Design. Per Ivar Selvaag, the former Lead Designer at BMW Group and Chief Designer of Peugeot’s concept car division,

Pink Lashings Raise Money for Breast Cancer Research

As the first Peters & May Pink Lashings shipment leaves Palma for Fort Lauderdale, the global marine transport company is calling all yacht owners to support its campaign to help raise £25,

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,

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1984 sec (5 req/sec)