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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

New Ferry MV Woods Hole Delivered

The newly built ferry M/V Woods Hole has been delivered to serve Woods Hole, Martha’s Vineyard and Nantucket.   Built by Conrad Industries of Morgan City, La.

Cargo Barge Launched for Alaska Marine Lines

Alaska Marine Lines celebrated the launch of its newest barge, Skagway Provider, at a ceremony July 7 at Gunderson Marine in Portland, Ore. where the vessel was constructed.

Offshore

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
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: 0.0741 sec (13 req/sec)