Oil And Gas Exploration Activities News

The global offshore oil and gas seismic equipment and acquisitions solutions market stood at around $660 million in 2018 and is forecast to grow at a CAGR of 5% to cross $890 million by 2024.According to a report by ResearchAndMarkets, the growth of global offshore oil and gas seismic equipment and acquisition solutions market is majorly attributable to rising investments in oil & gas exploration activities, stability in crude oil prices and an increasing number of strategic partnerships.Moreover, the increasing demand for oil and gas is resulting in rising exploration activities to find more oil and gas reserves, which in turn, is further fueling the growth of global offshore oil and gas seismic equipment and acquisitions solutions market.In terms of type…

As many as six high impact wells are yet to be completed this year around Africa, after several consecutive low-activity years with only a few positive results.According to the energy research and business intelligence company Rystad Energy, these wells all target offshore acreages, with the majority planned in the Western African region.“Africa appears to be emerging from a long hibernation in terms of oil and gas exploration activities,” said Rystad Energy Upstream Research analyst Taiyab Zain Shariff.A steep drop in the number of exploration wells in 2015 fueled by budget cuts, failed projects, and poor market conditions has meant that exploration in the region has mostly been on pause and declining further until this year…

The global floating production storage and offloading (FPSO) market was valued at around US$ 25 Bn in 2017 and is anticipated to expand at a CAGR of around 12% from 2018 to 2026, said a new report.Based on type, the global FPSO market can be divided into converted, new-build, and redeployed, said a new report by Transparency Market Research (TMR) on FPSO market.In terms of value, the converted segment dominated the global FPSO market in 2017. Low capital requirement and faster deployment of converted FPSOs as compared to new-build FPSOs are likely to drive the segment during the forecast period.FPSO is a converted tanker or a purpose built vessel that can be multi-hull production semi-submersible, cylindrical shaped production spar/ mono hull, or ship shaped.

A number of environmental groups are asking the Department of the Interior to rescind permission Shell has been granted to begin exploratory drilling in the Arctic this summer because the company's plan would not protect the walrus. Shell's plan would violate federal rules limiting how closely a company can drill multiple wells, Earthjustice argued in a letter to Interior Secretary Sally Jewell, sent on behalf of 10 other groups. The rules, issued in 2013 by the Fish and Wildlife Service under the Marine Mammal Protection Act, state that such drilling operations should be at least 15 miles apart in order to "avoid significant synergistic…

As the search for oil and gas reserves continues, exploration and production activities are occurring in increasingly harsh environments and drilling is going deeper than ever before. An experienced petroleum engineer is set to explain exactly how far this could extend – namely to Mars - at a Society of Petroleum Engineers (SPE) Aberdeen presentation and dinner meeting this month. Professor Alfred William Eustes III, a petroleum engineering and drilling specialist, will talk at the SPE Aberdeen monthly dinner and networking meeting on May 28.

NOAA is seeking comments on a supplemental draft environmental impact statement (EIS) for oil and gas activities in the Arctic Ocean. The draft, developed in collaboration with the Department of the Interior's Bureau of Ocean Energy Management (BOEM), includes analysis on how a broader range of potential offshore oil and gas activities could affect the environment, with a specific focus on marine mammals and the Alaska Native communities that depend on the animals for food and cultural traditions.

Singapore Technologies Engineering’s Marine Sector wins S$179-million worth of shipbuilding and repair contracts. The contracts include a contract to build two additional Offshore Support Vessels (OSVs) as well as a series of repair and upgrading projects. Hornbeck Offshore Services, LLC (Hornbeck) has exercised the options for two additional OSVs valued at about S$111m (US$89m), to be built by the marine sector’s US shipyard, VT Halter Marine. These two new vessels are expected to be delivered in the fourth quarter of 2014 and first quarter of 2015. Based on VT Halter Marine’s Super 320 design developed for Hornbeck, the DP2 OSVs are designed to have approximately 20,800 bbl of liquid mud carrying capability, 1,136sqm of deck area and a fire-fighting class notation.

While it seems that half the world is monitoring the oil and gas exploration activities of Royal Dutch Shell (Shell Oil) on the United States outer continental shelf (OCS) in waters of the Chukchi and Beaufort Seas off the north coast of Alaska, another historic event is occurring in those same waters: Arctic Shield 2012. The US Coast Guard is assembling its largest ever effort in the Arctic during the period July through October 2012. The Coast Guard has been gradually expanding its presence in the Arctic over the past four years.

The Minerals Management Service (MMS) issued a notice announcing the availability of two Environmental Assessments (EAs) and associated Findings of No Significant Impact (FONSIs) for oil and gas exploration activities proposed on the Alaska outer continental shelf (OCS). 75 Fed. Reg. 7515 (February 19, 2010). (Source: Bryant’s Maritime News)

The U.S. Arctic Research Commission believes that the U.S. needs a robust research program to address spill response in broken ice, as shipping moves into the Arctic Ocean and offshore oil drilling - in several Arctic nations - moves forward. Mead Treadwell, chair of the U.S. Arctic Research Commission, prepared testimony for the August 20 field hearing in Anchorage of the U.S. Senate's Homeland Security Subcommittee of the Senate Appropriations Committee. Treadwell told the committee that, contrary to laws passed by Congress after the Exxon Valdez oil spill disaster in 1989, a significant national oil spill research program does not exist, nor is one planned to fit the special needs of the Arctic. It was anticipated that the U.S.

Aker Solutions opened a new operation center in . The new operation center, which is located within state-owned base of Petroleum Technical Services Corp (PTSC), will provide strategic and effective support services for Aker Solutions' onshore and offshore oil and gas customers in the country. The opening ceremony, held at the new office at Vung Tau, was jointly officiated by Egil Martinussen, president - Asia Pacific for Aker Solutions' subsea business area, and Mr Khanh, director, Petro , branch. Aker Solutions' general manager Surface Products and Services, Crawford Tennant, said the new operation base demonstrated the company's commitment to provide unparalleled services to its customers, while acting as a nucleus in to capture other potential clients.

Keppel Corporation Limited (KCL) will restructure Keppel Hitachi Zosen Limited (KHZ) under Keppel FELS Limited (Keppel FELS), the rig building and repair arm of Keppel FELS Energy and Infrastructure (KFEI), to create a global leader in servicing the international marine and offshore market. KCL will transfer its entire 61% interest in KHZ to Keppel FELS immediately upon completion of the privatization of Keppel FELS Energy & Infrastructure Ltd (KFEI) in early to mid November this year. Shareholders of KFEI have given their approval for the delisting of the company on October 5. KCL Executive Director Choo Chiau Beng, said, ?The restructuring…

Seabulk International, Inc. announced that its subsidiary, Seabulk Offshore S.A., (SOSA), which is already ISM-certified, has also successfully passed the Bureau Veritas annual audit for renewal of its certification as an ISO 9002-certified company. SOSA operates a fleet of 38 offshore energy support vessels in West Africa, South America and the Caribbean. activities in the deepwater market off the coasts of Nigeria, Angola, Gabon, Equatorial Guinea, Congo and Cameroon. support vessels with a fleet of 143 workboats in nearly all of the world's major offshore markets. Two other subsidiaries -- Seabulk Towing, with 31 vessels in seven southeastern U.S. American Waterways Operators' Responsible Carrier Program, an ISM Code- equivalent safety management system for the towing industry.

Mumbai-based Garware Offshore Services Ltd., a company that offers ships for oil and gas exploration activities, plans to enter the shipbuilding business by setting up an exclusive facility for making offshore support vessels. This shipbuilding yard will be a joint venture with Norway-based ship manufacturer Havyard Leirvik AS, promoted by Havyard Group AS. Havyard Leirvik is a leader in making offshore ships, ice-breaking ships and other types of specialized vessels. According to the Shipyards Association of India, shipbuilding will entail an investment of about $76.1m by 2017. Reportedly, the venture could be 50:50, though nothing has been finalized.