Marine link
 

Oil Exploration

Mercator Lines to Explore Oil Offshore

Mercator Lines, is planning to expand its business portfolio by foraying into the offshore oil exploration sector. The company is looking for global partners to form a consortium to bid for Indian offshore blocks under the forthcoming round of NELP bids, apart from overseas blocks, including some of the South East Asian and Arabian Gulf blocks. It is in talks with a few European companies, sources said. Mercator Lines, which has forayed into offshore support services and is in the process of acquiring a $180m drilling rig, is aiming at forward integration by getting into the exploration business, which would also give it a captive market for its fleet of rigs and other offshore assets. The company's foray into the oil exploration segment will be spearheaded by its subsidiary, Mercator Oil and Gas Ltd (MOGL). The subsidiary had earlier initiated a foray into offshore segment by tying up with Gujarat State Petroleum Co, but the move did not result in anything concrete. Apart from offshore exploration, Mercator also has plans to get into offshore construction, including construction of platforms and pipelines, the sources said. Source: Moneycontrol.com


CNOOC to Invest $12B in Gas, Oil Exploration

The China National Offshore Oil Corporation (CNOOC) will invest $12.5b in gas and oil exploration in the next five years, CRI reported. By 2010, more than 50 new gas and oil fields of CNOOC Limited will be completed and put into production. The new fields, 24 of which are under construction and 13 under development assessment, are mainly located in East China's Bohai Sea, the Pearl River estuary and the Beibu Gulf in the South China Sea


Greenpeace Wins Bid To Delay North Atlantic Exploration

Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental directive in allocating licenses. The government is considering an appeal against the judgment on the basis that it is not taking into account the Commission's Habitats Directive in issuing exploration licenses. A spokesman said the government had been planning to issue new licenses in its 19th round early in 2000


Shell initiates Beaufort Sea Oil Exploration

Shell is planning to begin its Beaufort Sea oil exploration this summer, a state official said. The initial work will involve excavating "well cellars" from below the sea floor. The cellars, also known as glory holes, protect well equipment such as blowout preventers from ice scouring. Shell plans to start excavations in August and work only during open-water seasons -- before the ice comes in, he said. The company has acquired one drill rig, the Kullu


Interest in Offshore Exploration in Greenland Growing

Several of the world's largest oil companies hope to tap into possible offshore oil and gas reserves as Greenland opened a new round of concessions for exploration licenses in the fragile Arctic region. Eyes of an oil-thirsty world have turned to the shores of the semiautonomous Danish territory amid rising fuel prices, Mideast instability and concerns over future supplies. The Greenland government hopes to make big gains from any reserves found in its icy waters


ONGC to Finalize Shipbuilding Contract

According to a June 25 report on livemint.com, India’s biggest oil exploration company, the state-owned Oil and Natural Gas Corp. Ltd (ONGC), is expected to name within a week the winner of a tender to build 12 ships that will support its oil drilling operations. It was reported that Pipavav Shipyard Ltd, India’s newest private sector shipbuilder, has submitted the lowest bid. However, the winner will not be named ahead of a formal announcement by ONGC.


Oil Chiefs Justify Profits

According to a Financial Times report, top oil executives recently rejected allegations by some lawmakers that the oil industry was making record profits at the expense of US consumers, emphasizing the high level of investment the companies make to ensure supply and the limitations that have been set by Washington on oil exploration and development within the US. ExxonMobil executives met with lawmakers at a rare joint hearing of the energy and commerce committees


Russia Shuts Greenpeace Out of Arctic Sea Route

Greenpeace icebreaker Arctic Sunrise (Photo: Greenpeace)

The Russian government has reportedly denied permission for the Greenpeace icebreaker Arctic Sunrise to enter the increasingly busy Northern Sea Route (NSR), despite the ship having fulfilled all the requirements for such an entry. Greenpeace International beleives the decision is an attempt to prevent it from exposing the activities of Russian state-owned oil company Rosneft. Multiple vessels contracted by Rosneft and U.S


Venezuelan Navy Compels Seismic Research Ship to Enter Port

The 285-ft U.S.-chartered oil exploration ship 'Teknik Perdana' seized by the Venezuelan navy in Caribbean waters disputed with neighbouring Guyana was escorted into port at Venezuela's Margarita Island on Sunday, reports AP. Quoting Venezuelan authorities, AP said the ship's 36 crew members, including five U.S. citizens and two Brazilians, would be held on board while an investigation continued. AP note that Adm. Angel Belisario Martinez told local station Union Radio that the research ship


Maersk's 3Q Profit Beats Street

Danish shipping and oil group A.P. Moller-Maersk's third-quarter net profit beat expectations, boosted by a strong performance at its container shipping business Maersk Line. Net profit rose 25 percent to $1.5 billion compared with the same period last year, Maersk said on Tuesday, beating an average forecast of $1.38 billion in a Reuters poll of analysts. It stuck to its forecast for an underlying profit for the full year of around $4


EU Lawmakers Reject Call for Ban on Arctic Oil Exploration

© ggw / Adobe stock

The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway


Statoil Wins Licences Off UK, 'Resets' Exploration Off U.S.

Norway's Statoil was the second top bidder for 13 oil exploration leases in the U.S. Gulf of Mexico and won six licences offshore Britain, it said on Thursday, in a sign it may be looking to boost reserves after slashing costs. "The importance of oil companies' ability to replenish


DONG Energy Settles Platform Dispute

DONG Energy said it has reached a settlement with Daewoo Shipbuilding & Marine Engineering and Technip over who bears responsibility for construction errors concerning an offshore platform for the idled Hejre field. The settlement clears a major hurdle for the Danish company's plans to


China Threatened War If Philippines Drills for Oil -Duterte

Philippine President Rodrigo Duterte said on Friday Chinese counterpart China Xi Jinping had warned him there would be war if Manila tried to enforce an arbitration ruling and drill for oil in a disputed part of the South China Sea.  


India’s NUSI Warns of Oil Exploration Training Shortage

Abdulgani Serang (Photo: NUSI)

Indian shipping trade union the National Union of Seafarers of India (NUSI) has asked the Indian Ministry of Shipping for financial help toward the training of maritime workforce in oil exploration activities.   The union’s General Secretary, Abdulgani Serang


Rosneft Starts Drilling First International Offshore Well

Russian oil producer Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, it said on Wednesday.   It is Rosneft's first individual international offshore drilling project as an operator, Russia's largest oil producer said in a statement.


Greece to Evaluate Deep-sea O&G Exploration Bids

Greece will conclude the evaluation of deep-sea oil and gas exploration bids in the coming weeks and will name the preferred bidders soon after, its energy minister said on Friday, as the country seeks to tap into its limited oil reserves.  


Indonesia Hopes Fishermen Can Net Its South China Sea Claims

Indonesia wants to send hundreds of fishermen to the Natuna Islands to assert its sovereignty over nearby areas of the South China Sea to which China says it also has claims.   President Joko Widodo has launched an unprecedented campaign to bolster fishing


U.S. to Crack Down on Ocean Noise that Harms Fish

Richard Merrick, chief science adviser to the National Oceanographic and Atmospheric Administration Photo NOAA

The ocean has gotten noisier for decades, with man-made racket from oil drilling, shipping and construction linked to signs of stress in marine life that include beached whales and baby crabs with scrambled navigational signals. The United States aims to change that as a federal agency prepares


U.S. meeting on ocean conservation nets $5.3 billion in pledges

U.S. Secretary of State John Kerry,

International participants at a high-level conference on the world's oceans pledged more than $5.3 billion for conservation and designated vast areas as protected waters, U.S. Secretary of State John Kerry said on Friday. More than 90 countries took part in the two-day conference


Changing Spill Risk in a Changing Arctic Landscape

Dagmar Schmidt Etkin

Industry analyst and environmental consultant Dagmar Schmidt Etkin, PhD, takes a hard look at a rapidly shifting operational landscape in the Arctic. Always an honest broker of information, Etkin tells it like it is.    Oil spill risk is present anywhere that oil is present in


Leviathan Partners to Start Drilling in Q1 2017

Eastern Mediterranean. Photo: Noble Energy Inc

 The Leviathan reservoir partners announced on Sunday their plans to begin drilling a new well in the basin during the first quarter of next year, reports The Jerusalem Post.   The partners announced today that work will commence in the first quarter of 2017 and a budget of $77 million


Hathon is Director Exploration, Cairn

Simon Thomson, Chief Executive Photo Cairn

Cairn announced the appointment of Eric Hathon as Director of Exploration. Dr Hathon, who has more than 25 years experience in the international oil and gas industry, will join Cairn from Marathon Oil Corporation where he held the position of Director Conventional Exploration


Seadrill Could Be Heading for Bankruptcy

Photo: Seadrill Limited

The oil rig owner SeaDrill could be forced into bankruptcy protection soon, if it fails to reach a restructuring agreement with its lenders, reports Reuters.   The rig firm, controlled by John Fredriksen, is battling with $14 billion in debt and liabilities.  


BHP Billiton, Pemex sign Trion Contract

Pedro Joaquín Coldwell, Mexican Minister of Energy,  Enrique Peña Nieto, President of Mexico, Andrew Mackenzie, BHP Billiton CEO and José Antonio González Anaya, CEO of PEMEX. Photo: BHP Billiton

 BHP Billiton has advanced its exploration and production interests in the Gulf of Mexico by executing a contract with PEMEX Exploration & Production Mexico (Pemex) to complete work on the significant Trion discovery in Mexico.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright