ConocoPhillips Put Arctic Drilling Plans on Hold

Press Release
Thursday, April 11, 2013

Regulatory uncertainty leads ConocoPhillips to call a halt to its 2014 Chukchi Sea exploration drilling plans.

ConocoPhillips say it will put its 2014 Alaska Chukchi Sea exploration drilling plans on hold given the uncertainties of evolving federal regulatory requirements and operational permitting standards. The company has determined it would not be prudent at this time to make the significant monetary commitments needed to preserve the option to drill in 2014.

“While we are confident in our own expertise and ability to safely conduct offshore Arctic operations, we believe that more time is needed to ensure that all regulatory stakeholders are aligned,” said Trond-Erik Johansen, President, ConocoPhillips Alaska.

A recent Department of the Interior report called on industry and government to work together to develop an Arctic-specific model for offshore oil and gas exploration in Alaska. This model would focus on standards in the areas of drilling, maritime safety and emergency response equipment and systems.

“We welcome the opportunity to work with the federal government and other leaseholders to further define and clarify the requirements for drilling offshore Alaska,” Johansen said. “Once those requirements are understood, we will re-evaluate our Chukchi Sea drilling plans. We believe this is a reasonable and responsible approach given the huge investments required to operate offshore in the Arctic.”

In 2008, ConocoPhillips was awarded 98 exploration lease tracts in the Chukchi Sea Outer Continental Shelf. The company has more than 50 years of Arctic experience drilling both onshore and offshore Alaska. ConocoPhillips is Alaska’s largest oil producer, operating the Kuparuk and Alpine fields and maintaining a working interest in the Prudhoe Bay unit and the Trans Alaska Pipeline System.


 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

NCSP Group Cargo Traffic Up 6% in Q1 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.

Naming Ceremony of Evergreen's EVER LYRIC

Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place

Offshore

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

Italian Navy Takes Back Fishing Boat Seized Near Libya

The Italian navy took back control on Friday of a Sicilian fishing boat that had been seized overnight by unknown assailants near the Libyan coast, the defence ministry said.

Steelhead Introduces a New Yacht Crane

Steelhead Marine, a North American crane manufacturer, has expanded its product offering with the launch of the new E Series 1000 crane. Suited for commercial and recreational vessels,

Maritime Security

China Snubs G7 Declaration on Sea Row

Reacting to recent declaration of  the Group of Seven (G7) major nations' Foreign Ministers on maritime , China said “the situation of this region is generally stable,

Chinese Submarine to Pakistan: Raising Nuclear Tensions in South Asia

Pakistan, a country plagued by economic and political insecurity, to conclude the deal of eight conventional submarines during Chinese President Xi Jinping's visit to Islamabad on Monday (April 20),

Hands Across the Water

U.S. firms leverage Netherlands-based Damen Shipyard’s vessel designs and technical support. For nearly 40 years, Damen Shipyards Group in the Netherlands has

Arctic Operations

Icebreakers Ordered for Neft’s Novy Port Project

Aker Arctic’s icebreaker design selected for Gazprom Neft’s Novy Port project   Aker Arctic and Vyborg Shipyard have confirmed a contract for the design of two

Murmansk Region Head for Zoning Arctic Territories

Murmansk Governor Marina Kovtun, at the first meeting of the State Commission for the development of the Arctic has proposed a change to the system of energy

Technip Wins Subsea Contract on Triton FPSO

Technip has been awarded a brownfield subsea contract for the Triton(1) floating production storage and offloading (FPSO) vessel, operated by Dana Petroleum, located in the central North Sea.

Offshore Energy

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

Royal IHC Launches Sister Pipelay Vessels

Netherlands-based Royal IHC today named and launched new pipelaying sister vessels, Sapura Jade and Sapura Ônix, in ceremonies at the company’s shipyard in Krimpen aan den IJssel, The Netherlands.

CWind Orders Four Crew Transfer Vessels

CWind, a provider of services to the offshore wind industry, has placed an order for four new crew transfer vessels from Aluminium Marine Consultants (AMC), a shipbuilding

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators 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: 0.3002 sec (3 req/sec)