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
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.
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.
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)
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.
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
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
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
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
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.
A decision on the first floating, production, storage and offloading (FPSO) vessels on the giant Libra project in Brazil will be made by the summer, Total's head of exploration and production said on Thursday. "We are actively working actively on Libra to have the first FPSO decided before
A cargo ship heading from Russia to Turkey sunk off the coast of Crimea early on Wednesday morning and 11 of the crew are missing, Crimea's emergency situations ministry said. It said that the Panama-flagged vessel 'Geroi Arsenala' had sent an SOS signal when it was located 14 nautical
HMAS Ballarat has taken part in a range of maritime exercises with People’s Liberation Army – Navy vessel Huangshan following a successful visit to the People’s Republic of China. Conducted after Ballarat departed Zhanjiang port
International Maritime Organization (IMO) has joined countries and stakeholders concerned with protecting the Caspian Sea from oil pollution at a regional meeting in Bandar-e Anzali, Islamic Republic of Iran (16-20 April).
The oil giant British Petroleum (BP) oil and gas well on Alaska’s Northern Slope that blew out on Friday continues to spill crude oil and gas uncontrollably. There have been no injuries or reports of damage to wildlife
India's Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day (bpd) as refiners boosted purchases after lifting of some Western sanctions against Tehran last year. India, Iran's biggest oil buyer after China
Italy's Coast Guard and humanitarian ships rescued 1,350 migrants in 12 separate operations in the Mediterranean on Thursday and one person was found dead. The migrants were all found in an area some 25 km (16 miles) north of the Libyan coast, They travelling on a larger boat
“The news that the search for survivors from the Stellar Daisy has not yet proven successful is sad indeed. Reports from the Uruguayan Navy indicate that fuel, debris and empty lifeboats have been found but, so far, nothing else," says a press statement from International Maritime
FLIR Maritime announced recently that it has been awarded a $50 million indefinite delivery, indefinite quantity contract to provide marine electronics systems under the U.S. Coast Guard’s Scalable Integrated Navigation Systems 2 (SINS-2) program over a five-year period providing the
Russian state oil giant Rosneft will buy its first shipment of oil from Iraq's Kurdistan in early April, becoming the first oil major to take Kurdish crude directly into its refining system, trading sources said on Friday. The shipments aboard tanker Minerva Sophia will sail from the Turkish
T&T Marine Salvage, a member company of the Teichman Group, founded in 1957, received a new certification by the U.S. Coast Guard to detect and recover non-floating oils. T&T is the first Coast Guard recognized Salvage and Marine Firefighting service provider to receive this new Oil Spill
The search for an American cruise ship passenger who fell overboard 33 miles off the Cuban coast has been suspended after more than 16 hours of searching. The U.S. Coast Guard called off its search Thursday evening for 23-year-old Florida resident Brandon Paul
China's offshore oil and gas producer CNOOC Ltd reported its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17 percent last year, but it expects to raise output 2017 as oil prices rebound.
U.S. and Cuban emergency responders are searching for an overboard passenger who reportedly fell from the eighth deck of a cruise ship roughly 30 miles off the coast of Cuba. Missing is 23-year-old Florida resident Brandon Paul, who is said to have went overboard from the Carnival Victory
Australian Navy frigate, HMAS Parramatta has rescued three South African sailors from a stricken yacht approximately 1,300 kilometres southwest of Cape Leeuwin in Western Australia. The three yachtsmen of the 13-metre yacht activated an emergency response beacon late on 17 March