Egypt to Establish USD 4bln Petrochemical Complex in Suez
Egyptian Ministry of Petroleum entered in a partnership with the Ministry of Public Business Sector to establish a petrochemical plant in Suez governorate at a total cost exceeds $4 billion, Zawya reported quoting Petroleum Minister Tarek el-Molla. The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, el-Molla added. The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.
Petronet LNG appoints new chairman
India’s largest importer of the chilled gas Petronet LNG has appointed Kapil Dev Tripathi, Secretary, Ministry of Petroleum and Natural gas as Chairman and Director on the Board of the company. The appointment follows the former Chairman and Director of the company Board, Saurabh Chandra’s resignation on May 6. Further the Company has informed that, Eric Ebelin has been appointed as Alternate Director to Philip Olivier. In a filing to the Bombay Stock Exchange the company informed…
Dove, Larsen Look to Syrian Waters
Dove Energy and its partner Larsen Oil and Gas are repotedly negotiating with the Syrian Petroleum Company and the Ministry of Petroleum and Mineral Resources for a license to drill exploration wells in Syrian waters.Last year Syria offered four blocks offshore Syria with a total area of 5,000 square kilometers, according to a Bloomberg report in the Houston Chronicle. Dove, which started work in Syria three years ago in partnership with Norwegian oil company DNO International ASA, will invest between $5 million and $10 million on exploration in the coming 18 months in Syria. (Source: Houston Chronicle)
Pakistan Awards Offshore Oil License
Pakistan granted an offshore oil and gas exploration licence on Friday to a consortium led by the state-run Government Holding Private Ltd (GHPL), according to a report on www.thepeninsulaqatar.com. Under the concession the company and its five Pakistani and foreign partners will spend $18m to drill an exploration well in the Indus E Block off the coast of Sindh province in 2006, the Ministry of Petroleum said in a statement. The block, covering an area of 7,389.95 sq km, is about 150km off the coast of Karachi in water more than 1,000 metres (3,280 feet) deep, it said. The other companies in the GHPL-led consortium — Shell Development and Offshore Pakistan…
Statoil Commences Drilling Off Faroe Islands
Norwegian state-controlled energy company Statoil is to start drilling for oil off the North Atlantic Faroe Islands this week in the first test well on the Faroe shelf. "The well will be spudded in the middle of the week by the drilling rig Sovereign Explorer, which is contracted by Statoil to drill the first exploration well on the Faroe shelf," the Faroe Islands Ministry of Petroleum said. Sovereign Explorer was due to reach Faroese waters at the weekend and the positioning and anchor handling at the well site were expected to take four days. The well on the so-called Longan prospect is located to the southeast of the Faroe Islands close to the British boundary. The work is scheduled to take two to three months.
Lime Petroleum Receives Approval for Acquisition
Rex International Holding said its 65% indirectly owned subsidiary, Lime Petroleum Norway AS, has received approval from the Norwegian Ministry of Petroleum and Energy for the acquisition of 10% interest in each of the two offshore licenses, PL 707 and PL 708, from North Energy ASA. Lime’s 10% interest in each of PL707 and PL708 will become effective from November 29, 2013. The acquisition of the 10% interest in the two licenses is a result of the cooperation agreement between Lime and North Energy. Both concessions are located in the Barents Sea, in proximity to the coast on the Finnmark East platform. PL707 covers an area of about 982 square kilometers while PL708 covers an area of about 507 square kilometers.
Completion Of 2D Seismic Acquisition Programme - Somalia
Soma Oil & Gas Exploration Limited, the Somalia focused oil and gas exploration company, announced the completion of its offshore seismic acquisition programme which commenced in February 2014. The seismic acquisition programme was carried out by SeaBird Exploration (“SeaBird”) and concluded in June 2014 with over 20,500 km lines of 2D seismic data having been acquired across a 122,000 sq km offshore evaluation area. The processing of the seismic data is expected to take until late 2014 to complete.
Keppel Completes Conversion Poject for Prosafe
Keppel Shipyard, the wholly owned subsidiary of Keppel Corporation Limited (KCL) through Keppel Offshore & Marine Ltd (Keppel O&M), has successfully converted a 132,500 dwt tanker into a Floating Production Storage and Offloading (FPSO) vessel for Prosafe Production. The vessel, previously known as Grey Warrior, was named ABO FPSO by Ms AmaI Pepple, Permanent Secretary of the Federal Ministry of Petroleum Resources, Nigeria, at a ceremony held at Keppel Shipyard this morning. It underwent repairs at Subic Shipyard in January and arrived at Keppel Shipyard in early July 2002 for conversion work. The work scope for ABO FPSO included the fabrication and installation of the flare tower and helideck…
Nielsen Resigns from StatoilHydro
Kurt Anker Nielsen has informed StatoilHydro’s nomination committee that he is resigning from his position as board member on March 25, with immediate effect as a result of the way the Ministry of Petroleum and Energy has handled the issue relating to the company name. Kurt Anker Nielsen was a board member of Norsk Hydro from 2004 to 2007. He has been a member of the board, and chair of the board's audit committee, of StatoilHydro since 1 October 2007. StatoilHydro's nomination committee will immediately start its search for a new member of the board. The board of directors in StatoilHydro is elected by the company's corporate assembly. (www.statoilhydro.com)
Owners of North Sea Field Sign Pre-Unit Agreement
Under an agreement, the owners of production licenses 265 and 501 will cooperate in the planning of the Johan Sverdrup field toward an investment decision and submission of the Plan for Development and Operation (PDO). Statoil is appointed the working operator. The work will form the basis for developing and establishing the best field solution for Johan Sverdrup. An agreement for the development and operational phase will be signed between the licensees ahead of the submission of the PDO to the Ministry of Petroleum and Energy. The development of the Johan Sverdrup field is one of the main undertakings on the Norwegian continental shelf (NCS) in the years ahead, and a high-priority project for all partners in the licenses.
Arctic OIl Research Center to be Established
The initiative was presented recently at the Arctic Energy Agenda , a meeting of top energy representatives from a number of countries and companies. At the meeting, the Norwegian Minister of Petroleum and Energy Ola Borten Moe also presented key facts about the 22nd Norwegian License Round , which includes as many as 78 new blocks in the Barents Sea. “The expanding petroleum activities in the High North will be strengthened with the development of knowledge and new technology”, the minister says. “Our objective is that academic environments and industry in the North cooperate about the generation of knowledge linked with Arctic challenges”, he adds.
Rex International Wins 5 Offshore Norway Licenses
The Group’s portfolio of licenses increased to 21, well ahead of its target of 20 licences by July 2014. Rex International Holding Limited (“Rex International Holding” orthe “Company”, and together with its subsidiaries, the “Group”), has announced that its jointly-controlled entity, Lime Petroleum Norway AS (“Lime Norway”) has been awarded five newoffshore licenses in the 2013 Awards in Predefined Areas (APA 2013), according to a Norwegian Ministry of Petroleum and Energy press release dated 21 January 2014. The APA 2013 saw 48companies being offered participation in a total of 65 new production licenses on the Norwegianshelf; a new record both in the number of production licenses and the number of companies.
MOL Group Expands its Exploration Portfolio
MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired 6 new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired 4 licences in the Norwegian Continental Shelf, one of which with operatorship. These successes significantly contribute to the implementation of the MOL 2030 strategy. MOL has won 6 new licences in the fourth…
Norway Awards 4 APA Licensing to MOL
The Norwegian Ministry of Petroleum and Energy has announced the results of the APA (Award in Pre-Defined Areas) licensing round, which granted four licences to MOL Norge on the Norwegian Continental Shelf. MOL Group’s Norwegian subsidiary, MOL Norge participated in the second APA licensing round since MOL Group entered Norway in 2015. The awarded licences are located in MOL Norge core areas. “MOL Group unveiled a 2030 long-term strategy that targets that Exploration and Production should be a self funding and value generating business even in a low oil price environment.
Fire at Tatipaka-Lanco Pipeline of GAIL in K.G. Basin
A fire broke out early today along a natural gas pipeline of GAIL (India) Limited at Tatipaka in East Godavari district of Andhra Pradesh. Fifteen casualties have happened and eighteen injured are being treated in four hospitals in the vicinity. The fire started at around 5:45 AM today along the Tatipaka – Lanco natural gas pipeline, approximately 50 metres from ONGC’s Tatipaka terminal and about 500 metres from the GAIL terminal. GAIL’s Crisis Management system was invoked immediately; about eight fire tenders were pressed into service and the fire was brought under control at around 7:00 AM.
BSEE Dir. Salerno to Address Offshore Technology Conference
Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno will be traveling to Houston for the 2015 Offshore Technology Center May4-7 at NRG Park. The annual conference is an international gathering showcasing leading‐edge technology for offshore drilling, exploration, production, and environmental protection. Director Salerno will be discussing the bureau’s advancements in reducing risk offshore. 1:00 p.m. 7:30 a.m. 2:00 p.m. What: OTC Luncheon with the Center…
Proposed Name Change, Statoil ASA
The board of directors of StatoilHydro will propose to the company’s Annual General Meeting on 19 May that the company name be changed to Statoil ASA. On 27 February this year, the board of directors received a letter from the Norwegian Ministry of Petroleum and Energy which stated that “the Norwegian State at the Annual General Meeting will only vote for proposals which include the name Statoil, either alone or as the dominating part of a new name”. ”The question of the company’s name is to be decided by the owners at the Annual General Meeting…
Russian Think Tank: Oil Exports to Decline in 2017
A think tank that advises the Russian government on taxes and energy-related issues said on Wednesday it expects the country's oil exports to fall this year thanks to a global deal to cut output, contrasting with official forecasts for a rise. Vygon Consulting said in a presentation to reporters that oil exports this year are seen declining by 0.7 percent to 252.5 million tonnes (5.1 million barrels per day) from around 255 million tonnes in 2016, a record high. The Energy Ministry forecasts Russian crude oil exports this year at 257 million tonnes.
India Government Sops for Ship-Repairing Facilities
In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast at present in the country.
Cyprus to Establish Deputy Ministry of Shipping
Cyprus Parliament has passed a bill establishing a shipping junior ministry, the Cyprus News Agency (CNA) reported quoting government sources. The bill, tabled by the government, was approved unanimously, the agency reported, adding that two proposed amendments had been withdrawn without being put to the vote. The Minister of Transport, Communications and Works Marios Dimitriades, in a written statement, welcomes the decision of the Parliament to establish a Deputy Ministry of Shipping., noting that Cyprus’ shipping is a big chapter for Cyprus.
Eni Finds Giant Egyptian Offshore Gas Field
The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The Zohr gas field covers any area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades. Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas. This compares with up to 22 TCF in Israel's Leviathan field.
Spectrum in Somalia Seismic Pact
Spectrum ASA entered into a Multi-client master co-operation agreement with the federal government of Somalia during a signing ceremony on September 5th at the SYL Hotel, Mogadishu. The agreement allows Spectrum to acquire approximately 28,000 km of long offset 2D seismic data offshore south Somalia. The new acquisition has been specifically designed to complement 20,000 km of existing seismic that was acquired in 2014. Spectrum has also been granted the marketing rights for this data.
Iran to Resume Shipping Oil to Japan
The media in Tehran said on Saturday that Japan plans to extend a contract to purchase crude oil from Iran. Shana news agency – affiliated to Iran’s Ministry of Petroleum – has reported that Japan’s contract will be extended until April 2017. It added that the volume of oil that the country will purchase from Iran will also increase from the current level of 110,000 barrels per day. No figure was nevertheless provided on how much this will increase. Japan is one of Iran's biggest oil buyers but its crude imports have nearly halved from 2011 levels before sanctions.