Spain Gives Go-ahead to Canary Islands Drilling

Posted by Eric Haun
Tuesday, June 24, 2014

Spain's Supreme Court approved on Tuesday a $7-billion oil exploration project off the Canary Islands, clearing one of the final hurdles for oil company Repsol to begin drilling within months.

In 2012, Spain's government granted permits for hydrocarbon exploration off the coasts of the Fuerteventura and Lanzarote islands, but they were frozen while courts decided on a number of appeals on environmental grounds.

Of the seven appeals against drilling rejected by the Supreme Court, one was from the local Canary Island government, which initially supported the project but then turned against it.

Repsol, which leads a consortium including Australia's Woodside Petroleum Ltd and Germany's RWE Dea AG , has said exploration could start in the third quarter for commercial extraction to begin in 2019 if findings are positive.

(By Andrés González; Additional reporting by Sarah Morris and Tracy Rucinski; Editing by Fiona Ortiz and Louise Heavens)

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

Offshore

EMS Seven Seas Announces New CEO

EMS Seven Seas announces new CEO; enters into agreement to acquire Wave Shipping, a Singapore-based maritime and port agency services company. EMS Seven Seas,

iSURVEY Awarded Two-year Contract with Island Offshore

iSURVEY has been awarded a two-year contract with offshore vessel owner, Island Offshore Management, which will see iSURVEY AS provide positioning services to Island

Statoil: COSL Pioneer Temporarily Suspended

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment

Energy

For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant.

Statoil: COSL Pioneer Temporarily Suspended

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment

Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.

News

Arctic Wreck Found after 169 Years

After more than 169 years, Canadian researchers discovered one of the two ships from the doomed Arctic expedition of Sir John Franklin, cracking one of the largest mysteries in sea exploration.

URAG Orders Two ASD Tugs from Damen

URAG, a German port and offshore towage provider based in Bremerhaven, has placed an order for two Damen ASD 2411 tugs. The contract was signed at the SMM exhibition in Hamburg.

Hyundai Mipo Dockyard Delivers Fourth PSV

Hyundai Mipo Dockyard (HMD) delivered the fourth high value platform supply vessel (PSV) for BP Shipping at its main shipyard in Ulsan, South Korea. HMD won

Government Update

Maersk Sees US Approval of Shipping Alliance as Formality

U.S. regulatory approval of a proposed shipping alliance involving AP Moeller Maersk should be a formality, the Danish company's chief executive said on Wednesday.

Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.

Ship Safety: IMO Committee Agree Draft IGF Code

IMO informs that the draft International Code of Safety for Ships using Gases or other Low flashpoint Fuels (IGF Code), along with proposed amendments to make the Code mandatory under SOLAS,

Offshore Energy

First-of-type Walk-to-Work Crewboat Launched

Incat Crowther announced the launch and sea trials of Muslim Magomayev, a first-of-type 70m Catamaran Fast Crew Boat (FCB). Constructed by Incat Tasmania, Muslim

Statoil: COSL Pioneer Temporarily Suspended

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment

UK Chamber Stance Neutral on Scottish Independence

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1549 sec (6 req/sec)