Total to Begin Offshore Exploration in Bay of Bengal

Monday, October 22, 2007
According to a recent Reuters report, European energy major Total SA (TOTF.PA) will begin exploring for hydrocarbons in the Bay of Bengal in November, a senior energy official recently stated. In March this year, Total acquired the major stakes of UK-based Tullow Oil PLC (TLW.L) in offshore blocks 17 and 18 and received energy ministry approval to extend the exploration period stated in the production sharing contract by three years until May 5, 2009. The acquisition has left Tullow with a 32 percent stake, U.S.-based Okland Oil Co with 8.0 percent, while Total holds the remaining 60 percent in the offshore blocks. The firm will also drill one exploratory well to a depth of at least 3,000 metres (9,840 ft) in the Bay of Bengal to find new gas reserves in the structure, the official said. Other officials said there was a prospect of several trillion cubic feet of gas reserves in blocks 17 and 18, as neighboring Myanmar's gas blocks are located alongside these two offshore blocks. Total also has a a 31 percent stake in Myanmar's Yadana natural gas project in the Andaman Sea from which the French firm -- the world's fourth-largest Western oil group -- has generated $499m in taxes for the Southeast Asian country. Tullow has so far drilled only one exploration well in a block and invested $7.0m, officials reportedly indicated. In 1993, Bangladesh divided its exploration sites into 23 blocks, including seven offshore. The country, which has 13.54 trillion cubic feet of proven and recoverable gas reserves, is likely to face a gas shortage by 2011, when current reserves will be exhausted, energy officials said. [Source: Reuters]
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Towering Damen Marine Components Hits 150‏

Damen Marine Components (DMC), the oldest company in Damen Shipyards Group, celebrates its 150th anniversary today. DMC has grown from a very small shipyard established in Gorinchem in 1865,

Azerbaijan to Get New Passenger Vessel This Year-end

Azerbaijan Caspian Shipping Company  expects to get the first of the three passenger vessels being built currently at the Baku Shipbuilding & Repair Plant (Baku Shipyard LLC) until the end of 2015,

Michelle Obama to Christen Navy's Newest Submarine

U.S. First Lady Michelle Obama will join builder General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, in christening Illinois (SSN-786), the U.


Search for Ship Lost in Hurricane a Big Challenge

Deep seas may complicate efforts to find the sunken U.S. cargo ship lost off the Bahamas during Hurricane Joaquin, a federal safety investigator said, as a search

MacGregor's Deck Machinery for Sentinel Marine ERRV

MacGregor, part of Cargotec, will supply deck machinery for a new 65m emergency rescue & response vessel (ERRV) for Sentinel Marine. The ship has been designed

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,

Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1226 sec (8 req/sec)