Gas Exploration News

06 Mar 2019

FPSO Market to Reach $66Bln by 2026

Pic: MODEC, Inc.

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…

03 Mar 2019

Asia: Pertamina, Petronas Join Forces

Image: Petronas

Indonesian state-owned energy company PT Pertamina and Petroliam Nasional Berhad (Petronas) of Malaysia have signed a Memorandum of Understanding (MoU) to develop oil and gas business – upstream and downstream, not only in Indonesia or Malaysia but also in other countries.As per MoU, Pertamina will swap crude produced in its Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Petronas' Indonesian fields of Jabung and Ketapang, said a Reuters report quoting Pertamina sources.Meanwhile…

21 Feb 2019

Oi: Tracking 50 Years of Ocean Innovation

Marine Technology Reporter published a supplement to celebrate the 50th anniversary of Oceanology International. Photo: MTR

As Oceanology International celebrates its 50th Anniversary, Marine Technology Reporter explores half a century of subsea technology development and discovery. Oceanology International Americas runs February 25-27, 2019 in San Diego.When Oceanology launched in 1969 in the seaside resort of Brighton the world was a very different place. For a start, Brighton was home to the mods and rockers, who would square off against each other on the town’s elegant seafront. The British currency included shillings and ha’ pennies and man had yet to step foot on the moon.More crucially…

17 Feb 2019

Anadarko, Bharat Petroleum Sign LNG Deal

Pic: Anadarko Petroleum Corporation

American petroleum and natural gas exploration and production company Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources (BGR) for the supply of liquefied natural gas (LNG) volumes from the Mozambique LNG development.The sale and purchase agreement (SPA) is for 1 million tonnes per annum (MTPA) for a term of 15 years. BGR is a wholly owned subsidiary of Government of India controlled  oil and gas giant Bharat Petroleum Corporation Ltd.

12 Feb 2019

INPEX Selects NAPA for LNG Carrier Fleet

Image: NAPA

Japan's largest oil and gas exploration and production company INPEX Corporation has installed ClassNK-NAPA GREEN for monitoring operations on three of its liquefied natural gas (LNG) carriers.NAPA said that Inpex awarded a deal to the company for the provision of a solution for monitoring and follow-up of ship operations on two LNG carriers built to service the Ichthys project and one LNG carrier for Shell’s Prelude FLNG project.With the core motivation of accurately verifying the technical performance of these highly complex carriers…

19 Jan 2019

Government Shutdown: Atlantic Seismic Permitting Blocked by Judge

© DedMityay/AdobeStock

A federal court judge on Friday ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration's energy agenda.Judge Richard Gergel of the U.S. District Court in South Carolina issued the decision in response to a motion filed by a range of conservation and business groups and coastal cities opposed to the adminstration's efforts to expand U.S. offshore drilling.The…

02 Jan 2019

Energean Signs New Gas Sales Deal for Karish and Tanin FPSO

Karish and Tanin Floating Production Storage and Offloading unit. Pic: Energean Oil & Gas

UK-based oil and gas exploration and production company Energean Oil & Gas  has signed a Gas Sales and Purchase Agreement (GSPA) with I.P.M. Beer Tuvia Ltd. (IPM) to supply an estimated 5.5 BCM of gas from its Karish and Tanin FPSO over a period of 19 years.According to a release, the contract is subject to necessary approvals and is contingent on results of the 2019 drilling programme, which includes the drilling of four wells in Israel and commences with the spud of Karish North in March 2019…

19 Dec 2018

Neptune Energy Indonesia Gets New Managing Director

Eko Lumadyo, Managing Director of Neptune Energy’s Indonesian business. Photo: Neptune Energy

The oil and gas producer Neptune Energy has announced the appointment of Eko Lumadyo as Managing Director of its Indonesian business, based in Jakarta.Lumadyo will join Neptune from Mandala Energy Indonesia, where he is currently Country President and General Manager.Lumadyo has more than 30 years’ experience in upstream oil and gas exploration, development, planning, operations and commercial affairs. He started his career with Unocal as a geophysicist and progressed within the…

19 Dec 2018

Senex Energy Gemba Tests Successful

 Location of Gemba-1 and surrounding infrastructure. Map:  Senex Energy

Australian energy company Senex Energy has successfully tested a gas exploration well in the Cooper Basin in South Australia.According to the Brisbane-based company The Gemba-1 well flowed 227,000 cubic metres (8 mcf) of gas per day over a period of a week."Senex Energy has successfully completed the initial flow test of the Gemba-1 gas exploration well in the Cooper Basin, with stabilised flow rates of approximately eight million standard cubic feet per day, plus associated liquids…

18 Dec 2018

Sovcomflot completes USD 900 mln in Foreign Investment

Nikolay Kolesnikov, Senior Executive Vice-President and CFO of Sovcomflot (sitting in the centre) together with the signees from KfW IPEX-Bank, Credit Agricole, ING Bank, Societe Generale, Citibank, UniCredit, and DVB Bank (sitting, from left to right). Photo: Sovcomflot

Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan, with total new debt capital raised this year amounting to circa USD 900 million, said Nikolay Kolesnikov, Senior Executive Vice-President, Chief Financial Officer of PAO Sovcomflot."The fund allows us to fully address the Group’s mid-term financing requirements…

29 Nov 2018

Transocean Shareholders OK Ocean Rig Acquisition

Image: Ocean Rig UDW

Transocean, international provider of offshore contract drilling services for oil and gas wells, has announced that its shareholders approved the acquisition of Ocean Rig UDW, by approving the proposals presented at Transocean’s Extraordinary General Meeting. Switzerland-based offshore drilling contractor quoted its President and CEO Jeremy Thigpen in a press release, as saying: "We are extremely pleased that our shareholders have overwhelmingly approved our acquisition of Ocean Rig.

16 Nov 2018

Georgia Bullish on Offshore Natural Gas and Oil Reserves

Image: ExxonMobil

Georgia Petroleum Council noted released results from a new study highlighting how Georgia’s economy could benefit from over $200 million in tax revenues as a result of offshore leasing in the Atlantic Outer Continental Shelf (OCS).“Cutting-edge technology can safely and accurately discover what resources lay off Georgia’s coast and make possible the potential for millions of dollars in state and local tax revenues from offshore activity detailed in this new study,” said Georgia Petroleum Council Executive Director Hunter Hopkins.“This could be a turning point for Georgia.

07 Nov 2018

Kosmos Energy, Shell Form Alliance

Image: Kosmos Energy

Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where Kosmos has completed the farm-in to Shell's acreage in PEL 39, and Sao Tome & Principe where it has entered into exclusive negotiations for Shell to take an interest in Kosmos’ acreage in blocks 5, 6, 11, and 12.As part of the alliance, the two companies will also jointly evaluate opportunities in adjacent geographies.

29 Oct 2018

Serica Energy Restarts Production at Erskine Field

Image: Serica Energy

Serica Energy said that efforts to remove gas hydrates in pipeline between Erskine and the Lomond platform had been successful and it  has resumed production for the first time since January." Production from Erskine has restarted and flow rates are being optimised. Further updates will be provided once the re-commissioning process is complete," said a press note from the company.Erskine, in which Serica holds an 18% interest, was suspended in mid-January due to a blocked export pipeline which carried condensate from Erskine to the neighbouring Lomond platform.

24 Oct 2018

Blue Water Energy Partners with Apex International Energy

Pic: Apex International Energy

Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.The oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (MENA) said that it is primarily focused on pursuing acquisitions and drilling opportunities in MENA, with an initial focus on Egypt.The company will continue to acquire assets and licenses…

23 Oct 2018

Australia's Woodside China's ENN Join Hands

Pic: Woodside Petroleum

Australia’s Woodside Petroleum has signed a Cooperation Agreement with Chinese private sector gas distribution firm ENN Group under which the two companies will work together to explore a broad range of potential business opportunities.The Cooperation Agreement was signed at a ceremony in Zhoushan on behalf of Woodside by Executive Vice President Marketing Trading & Shipping Reinhardt Matisons and by ENN Group CEO Cheung Yip Sang.“Woodside’s aim is to grow our relationship with ENN Group…

19 Oct 2018

Standard Drilling Sells PSVs

PSV World Sapphire. Image: Damen Shipyards

New World Supply, where S.D. Standard Drilling (SDSD) has an ownership of 26.2 percent, has completed a sale of two of its six medium sized platform supply vessels (PSVs).According to the Cyprus-based company that offers offshore drilling services to the oil and natural gas exploration industry, the vessels, World Sapphire and World Emerald, have been in lay-up in Spain since October and November 2016.The purchase price, which remains confidential, has been fully paid for both…

03 Oct 2018

New Research Vessel for Virginia Institute of Marine Science

(Photo: JMS Naval Architects)

A new research vessel for the Virginia Institute of Marine Science (VIMS) has completed sea trials and is transiting to its home port in Virginia.The new vessel, the R/V Virginia, will support the institution’s fisheries research projects and greatly expand VIMS’ capability to perform general oceanographic research in the Chesapeake Bay as well as mid-Atlantic coastal waters. Interest in the new research vessel is already growing rapidly as next season is almost fully booked with science cruises.The 93-foot vessel was built by Meridien Maritime Reparation.

28 Aug 2018

Equinor to Boost Drilling to Extend Norwegian Shelf Life

Photo: Harald Pettersen / Equinor

Oil producer Equinor aims to boost the recovery rate from its Norwegian fields to well above the global average to extend production from the mature basin beyond 2030.Equinor announced plans on Tuesday to drill up to 3,000 wells offshore from its native Norway in coming decades - almost as many as it has drilled since its startup in 1972 - to mitigate declining output from older fields, and extend the production lifetime of more than 20 installations.The company said it remained on track for to keep profitable oil and gas production in Norway towards 2030…

10 Aug 2018

Sovcomflot's Pskov Loads First Cargo from Yamal LNG

Image: Sovcomflot Group

The liquefied natural gas (LNG) carrier Pskov completed loading at the Port of Sabetta (YNAD), with the first cargo of LNG produced from the second high-tech production line at the Yamal LNG plant.August 08 marked the launch of the second production train at Yamal LNG, which happened six months ahead of schedule.Pskov is a state-of-the-art Atlanticmax LNG carrier with a cargo capacity of 170,000 cubic metres. She was built to order for Sovcomflot Group in 2014, to transport LNG under a long-term time charter agreement with Gazprom.

25 Sep 2018

Smarter Energy Policy Will Broaden Offshore Recovery

For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.

02 Oct 2018

ENTREC Corporation Acquires Capstan Hauling

Pic: ENTREC

ENTREC Corporation, a heavy haul transportation and crane solutions provider, is pleased to announce that it has completed the acquisition of Capstan Hauling .Based in Grande Prairie, Alberta, Capstan is a leading provider of heavy haul transportation services to the oil and natural gas industry in north-west Alberta and north-east B.C. Capstan has approximately 45 employees and lease operators and operates an extensive equipment fleet valued in excess of $9.0 million.Capstan’s fleet consists of mobile cranes…

16 Sep 2018

Brexit Shouldn't Mar Prospects of Seafarers: UK Chamber

Photo: UK Chamber of Shipping

UK Chamber of Shipping said that no deal could limit the opportunities for UK seafarers. A no-deal Brexit would also potentially inconvenience operators of UK-flagged ships, the UK Chamber says.On Thursday, the UK Government published another 28 technical notices, which advise on how potential disruption from a no-deal exit from the European Union can be minimised. The latest batch includes two important shipping-related notices: one on seafarer certification and one on maritime…

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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