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Oil Search Expects LNG Project Agreement by Year End

Oil Search Ltd., Papua New Guinea's biggest oil producer, expects to reach agreements with the government and partners by the year-end allowing a decision to start designing a $10b liquefied natural gas project. The economic viability of the Exxon Mobil Corp.-led LNG project has been ``fully tested'' and talks are underway with the government on fiscal terms, Port Moresby-based Oil Search said in a presentation lodged with the Australian Stock Exchange, according to a Bloomberg report. Oil Search may own between 28 percent and 32 percent of the venture, once the state and landowners take up stakes. The group is studying tapping gas from the Hides, Angore, Juha fields and nearby areas in the Highlands of Papua New Guinea to feed a 6.3 million metric tons-a-year LNG plant, targeting the start of deliveries in 2013. Santos Ltd., AGL Energy Ltd. and Japan PNG Petroleum have stakes in the venture. Oil Search reiterated a forecast for production of between 9.5 million and 10 million barrels of oil equivalent this year, down from 10.2 million in 2006. Field and corporate costs are expected to be ``slightly'' higher in the second half than in the first, it said. Exploration spending is set to be at the upper end of the $230m to $240m range forecast in August, while spending on development will probably be ``a little lower'' than $100m, the company reportedly said


First PNG LNG Cargo Shipped by Exxon Mobil

LNG carrier: File photo

Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan.


US Rig Count Hits 25-Year High

Tally of oil-directed rigs shows increase In its weekly release, Houston-based oiilfield services company BHI reported a record rise in the number of rigs searching for oil and gas. The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada.


CNOOC Searches for Oil in U.S.

According to a report from the Associated Press, China's state-owned offshore oil and gas company is intensifying its search for oil in the western United States.  CNOOC Ltd. announced it will pay $570m for a one-third stake in Chesapeake Energy Corp.'s drilling project in an emerging oil field in northeast Colorado and southeast Wyoming. (Source: AP)  


Baker Hughes Rig Count Down 7

The number of rigs searching for oil and natural gas in the United States fell by seven to 1,225 during the week ending May 18, according to oil services firm Baker Hughes. Last year the number of U.S. rigs was 841, Baker Hughes said. Meanwhile, the number of rigs exploring for oil and gas in Canada gained 24, compared to 182 last year. The number of rigs in the U.S. Gulf of Mexico fell by four to 160, compared to 135 a year ago.


U.S. Gas Rigs Up 28

The number of U.S. rigs searching for natural gas in the U.S. rose by 28 to 764, an all-time record high, while the number of rigs searching for oil fell by three to 210 during the week ending July 28, according to oil services firm Baker Hughes Inc. The number of rigs exploring for oil and gas in the United States rose by 25 to 975, compared with 602 active rigs in the U.S. in the year ago period. In Canada, the number of rigs searching for oil and gas rose 13 to 319


Coast Guard Ends 2 Searches in Gulf

The Coast Guard ended two searches today in the Gulf of Mexico off the Texas and Louisiana coasts after thorough searches turned up no results. In the first case, the Coast Guard called off the search for a missing swimmer in San Luis Pass near Freeport, Texas. The 17-year-old Hispanic male is missing after swimming in San Luis Pass Tuesday evening. The Galveston Police Department notified the Coast Guard of the missing swimmer about 8:40 p.m. Tuesday


Divers Search Sunken Iraqi Oil Tanker

Sterling Global Operations diver preparing to descend to wreck of VLCC Amuriyah to check for unexploded ordnance. (Photo: Sterling Global Operations)

Sterling Global Operations (SGO) has been chosen to provide surface - supplied divers for unexploded ordnance search and removal and salvage operations for the sunken 82,000-ton Very Large Crude Carrier (VLCC) Amuriyah, an Iraqi tanker sunk near Bubiyan Island off the coast of Kuwait in Jan. 1991 during Operation Desert Storm. Special Diving Services (SDS) Holland hired SGO for this project. "For years SGO has conducted major demining and unexploded ordnance clearance projects in


Dalco Passage Spill

The Washington State Department of Ecology established an Internet site regarding the Dalco Passage oil spill. On October 14, approximately 1,000 gallons of oil will released by an unknown source into waters of Puget Sound. Cleanup has been completed and investigators are still searching for the source. As a result of this spill, the State and the U.S. Coast Guard have established an Oil Spill Early Action Task Force to look into ways to improve early notification procedures


UAE-based Lamprell Leadership Shake-up

Lamprell, provider of diversified engineering & contracting services to the onshore and offshore oil & gas industries makes sweeping Board changes. Nigel McCue is standing down as Chief Executive and as a director of the Company. Peter Whitbread, former Chief Executive who was with Lamprell from 1992 until 2009, has been appointed as Interim Chief Executive and will join the Board with immediate effect.


Paragon Offshore Comes Out of Bankruptcy

Photo: Paragon Offshore

 Paragon Offshore Group announced that it has emerged from bankruptcy after completing a restructuring that eliminated USD 2.3 billion of debt.   The successor company to Paragon Offshore PLC , which filed for bankruptcy in February 2016 with USD 2


Aker BP Ups 2017 Output View

Oil firm Aker BP, the second-largest operator of oil and gas platforms off Norway, raised its 2017 output guidance and lowered its production cost outlook as it posted second-quarter earnings roughly in line on Friday.   The company is the result of a merger between the Norwegian business


MALABAR - 2017 Commences in Bay of Bengal

Photo: Indian Navy

 Naval cooperation between India, US and Japan epitomises the strong and resilient relationship between the three democracies.    The MALABAR series of exercises, initiated in 1992 between the Indian and US Navies, have steadily grown in scope


Clean Arctic Alliance Welcomes IMO Action on Arctic HFO

Image: Clean Arctic Alliance

 As the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 71) concluded  on last Friday, the Clean Arctic Alliance welcomed the support from Member States for a proposal to identify measures which will mitigate the risks posed by the use of


Thailand Accedes to Conventions Covering Oil Pollution Damage

Photo:  International Maritime Organization (IMO)

 Thailand has become the latest State to accede to the international conventions on Civil Liability for Oil Pollution Damage (CLC) and the Establishment of an International Fund for Compensation for Oil Pollution Damage (Fund).  


Wärtsilä Ensures Compliance with the Polar Code

Photo: Wärtsilä

 1 January 2017 was a historic milestone in the protection of our polar waters for future generations. On that day, International Maritime Organization’s (IMO) International Code for Ships Operating in Polar Waters (the Polar Code) came into force.  


An Engine Oil Goes the Distance

Cylinder liners demonstrated minimal wear (Photo: ExxonMobil)

Inspection reveals that Mobil Delvac 1 ESP 5W-40 provides longstanding protection for Cummins marine main engine; after almost a decade of continuous use, minimal component wear and outstanding cleanliness were discovered   An inspection of one of two main engines on a U.S


One Missing from Sunken Oil Tanker off Yemen

One mariner remains missing after 13 of 14 crewmembers were recovered from the sea following the sinking of their oil tanker in severe weather conditions 240 miles off the coast of Yemen.   At around 4:30 a.m. June 26, the U.K. Coastguard received a Mayday distress call issued by a


Search Continues after Colombia Tourist Boat Accident

Rescue workers searched on Monday for 13 people believed to be missing after a tourist boat sank the previous day in a reservoir in north-central Colombia, killing seven.   The cause of the accident was still unclear, officials said. Use of the Penol-Guatape reservoir


Frontline Alters Course, Drops DHT Pursuit

Photo: DHT Holdings

CEO: Frontline will continue to expand its fleet; won't pursue M&A now, though consolidation may come later.   Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions


Marine News Boat of the Month: June 2017

Image: Elastec

Elastec’s Inlander RUB: a versatile spill response workboat   The Elastec Inlander river utility boat (RUB) is a unique concept. But, Elastec already manufactures many other response and utility craft for this market. What prompted the internal effort to create such a craft was that


Mercuria, PetroChina Selling Offshore Stored Fuel Oil

File Image: CREDIT BMT

Three to four tankers storing fuel oil, down from eight or nine.   Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored in vessels off Singapore and southern Malaysia on strong demand from the shipping and power sector


Missing US Navy Sailor Found Alive

U.S. Navy Petty Officer Peter Mims, missing for a week and feared to have fallen overboard from USS Shiloh into the Philippine Sea, has been found alive aboard the ship. (U.S. Navy photo by Pat Morrissey)

A U.S. Navy sailor feared to have fallen overboard has been found alive aboard USS Shiloh (CG 67) a week after he went missing.   Gas Turbine Systems Technician (Mechanical) 3rd Class Peter Mims was reported missing June 8 and was presumed to have fallen overboard in the Philippine Sea


Search Operations for Mexican Navy Ship Lady Crew in Goa

Map: Indian Navy

 The Indian Navy launched a massive search operation for a Mexican lady cadet who reportedly fell overboard from the Mexican sail training ship STS Cuahtemoc off Goa, on June 11.  "Indian Navy has launched a “Search & Rescue” operation to look for a lady cadet who


US Navy Sailor Missing off Japan

U.S. Navy and Japanese ships and aircraft are searching for a sailor reported missing from USS Shiloh (CG 67) about 180 miles east of Okinawa, June 8.   USS Shiloh (CG 67) reported a man overboard at approximately 9:30 p.m. JST. The ship was conducting routine operations at the time of the






 
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