Indian Oil Seeks Arctic Drilling Team-up

Barents Observer
Monday, August 20, 2012
Photo credit Rosneft

Indian oil intends to team up with Russia's Rosneft for oil exploration in the Barents & Kara Seas.

ONGC, one of the largest oil and gas companies in Asia, has formally addressed Rosneft with a partnership offer in one of the latter’s Arctic hydrocarbon projects.

In a letter, the ONGC says it would like to team up with Rosneft in one of its international partnerships recently concluded in the Barents Sea and the Kara Sea. The Indian company primarily wants the Russian state company to reduce its 67 percent stake in the projects with respectively ExxonMobil, Eni and Statoil to give room for third partners.

Rosneft is currently about to establish joint ventures with ExxonMobil, Eni and Statoil in the Kara Sea and the Barents Sea respectively.

Alternatively, the ONGC requests a stake in one of Rosneft’s Arctic licenses where international partnerships have not yet been concluded, the Economic Times reports.

The ONGC does not have experiences from the Arctic, but has been engaged in offshore drilling and production since it found the huge Mumbay High field in the 1970s, and now produces about 77 percent of India's  crude oil and around 81 percent of its natural gas. About 74 percent of the company is owned by the Indian state.





 

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

People & Company News

Coast Guard Foundation to Honor USCG in Miami

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Maritime Broadband Opens Office in Greece

Maritime Broadband has expanded its worldwide footprint by opening an office, Maritime Broadband Hellas, in Athens, Greece. The new office addresses the growing

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.

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,

Arctic Operations

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

MEPC Approves Draft Polar Code

Draft Polar Code approved by IMO’s Marine Environment Protection Committee A key step on the way to a mandatory Polar Code for ships operating in Arctic and

Northern Fleet’s Environmental Center in Arctic

The regional Environmental Center of the Northern Fleet will be established in the Arctic in the near future. The news agency TASS reported the news with

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair 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: 0.1381 sec (7 req/sec)