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Friday, December 15, 2017

Oil Exploration News

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, said NUSI has requested financial aid and incentives from the Ministry through National Shipping Board for training the maritime workforce at NUSI Offshore Training Institute (NOTI), currently operated by NUSI-ITF Trust. NOTI trains the workforce that operates specialized vessels…

Oil Exploration Causes Diver Shortage

Increasing exploration for offshore oil reserves is causing a shortage of divers in the aquaculture industry. Divers are being offered more than $300,000 a year for exploration work, compared $70,000 for work in the tuna and abalone sectors. Martin Phillips, from South Australian Underwater Training, says oil exploration has not been a traditional job market for divers. Source: ABC Online

China to Build Deep Water Oil Exploration Fleet

China will build its own deep water oil exploration fleet in three to four years. The fleet will be able to work in deep waters all over the world, except for the north pole. China's Offshore Oil Company has launched the strategy for building such a fleet. The company's spokesman, Liu Junshan, said one of their future targets would be deep sea oil exploration. They will invest up to $1.33b in the construction of modern equipment for deep sea drilling, a laboratory, and a working fleet. [Source: www.chinadaily.com]

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.

PetroVietnam to Sign Oil Exploration Contract

PetroVietnam is to sign an oil exploration contract with US Pogo and Canada’s Keeper Resources on block 124 offshore of central Vietnam. Block 124 is located in Phu Khanh Basin covering a 6.007 sq.km area along the country’s central coastal line, 50km northeast of Nha Trang City. The exploration block was offered for international tender by PetroVietnam in October 2004. Under the seven-year-term contract, the foreign contractors committed to conduct 3D seismic exploration on an 850 sq.km area and drill two exploration wells in the first three years of exploration. PetroVietnam is entitled to 20 percent equity participation when oil or gas is discovered under the contract, in which US Pogo is the main operator.

Maersk Aspires to Arctic Year-round Drilling

Mærsk's oil drilling subsidiary is investing heavily in Arctic-ready drilling rigs, a move that is concerning environmental organisations. According to 'The Copenhagen Post' Maersk Drilling is going to be a key player in opening the Arctic to oil exploration by developing rigs that can drill for oil year-round under extreme conditions. Maersk Drilling belongs to the A.P. Moller Maersk group which also has an oil company, Maersk Oil. But while Maersk Drilling has taken out patents for technology that would allow them to drill in the Arctic, Maersk Oil only owns a limited number of licences for drilling in that area. It is therefore likely they will team up with other companies that have larger drilling licences in the region, such as Shell and Gazprom.

CVRD Withdraws From Landmark Oil Auction

Companhia Vale do Rio Doce (CVRD) is reportedly withdrawing from next week's landmark auction of oil exploration and production licenses.

Oil Merger Regulators Bare Teeth On Upstream Fears

Fears of an emerging oligopoly in oil exploration and production have reportedly become the crunch issue as huge planned mergers go before competition authorities.

Petrobras, Exxon To Sign Brazil Oil Deals

Petrobras will reportedly sign two much-awaited oil exploration and production joint venture contracts with U.S. petroleum giant Exxon.

Repsol Could Drill off Canary Islands in October

Spanish oil company Repsol could begin prospecting for its $7-billion oil exploration project off the Canary Islands in October, Industry Minister Jose Manuel Soria said on Tuesday. Spain's Supreme Court last month rejected environmental appeals against 2012 government permits granted for oil exploration off the coasts of the islands of Fuerteventura and Lanzarote. "We should be thinking end of October," Soria told Spanish radio channel SER. His ministry would give the final authorization for prospecting next week and Repsol has said it would start three months later, said Soria. (Reporting By Jose Elias Rodriguez;

Computer Game By Maersk to Spark Interest in Science

Maersk's Computer game

This week the Maersk Group launches a computer game and teaching materials about oil exploration and oil production for Danish secondary schools, technical colleges and higher preparatory examination courses. The materials are available free of charge. More than 340,000 players have already tried the oil exploration game via www.QuestforOil.com. The game provides an insight into the global oil industry and the various elements of oil exploration, drilling and production through the oil fields in the North Sea and Qatar.

Iran and China Agree on Joint Oil Exploration

Iran's North Drilling Company (NDC) and the Hong Kong-registered China Oilfield Services Ltd. signed an oil-exploration agreement for management, repair, and maintenance of the Alborz semi-floating platform, currently being constructed by the Iranian Offshore Industries Company. A three-year contract with an estimated cost of $33 million will enable Iran, with China's help, to move its exploration activities to the deep waters of the southern Caspian. Until now, Iran has been unable to explore fields that were deeper than 90 meters. (Source: Eurasia Daily Monitor)

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. By 2010, CNOOC Limited will have a production capacity of 50 million tons of oil equivalent, including 38 million tons of crude oil and 12.6 billion cubic meters of gas. (Source: CRI)

Offshore Vessels: Squall Delivered to Jackson Offshore Operators

(Photo: BAE Systems/Jackson Offshore Operators)

BAE Systems delivered its fourth and final of series platform support vessel (PSV) to Jackson Offshore Operators, LLC, completing a four-ship program that began in 2012. Motor Vessel Squall joins three other vessels built by BAE Systems’ Jacksonville, Florida, shipyard to support U.S. offshore oil exploration. Squall is the fourth vessel of the GPA 675J class, designed by Guido Perla and Associates of Seattle. Construction of the 252-ft. vessel began in December 2014 and it was delivered on January 31, 2016.

Mitsui to Extend Thai Offshore Oil Field Pact

Japanese trading house Mitsui & Co. (8031.TO) said that a subsidiary, Mitsui Oil Exploration Co., has agreed to extend for 10 years the contract on its rights and interests in offshore oil and gas blocks in Thailand, according to a Dow Jones report. The Tokyo-based company said the unit, Chevron Corp. (CVX) and PTT Exploration & Production PCL (PTTEP.TH) have reached an agreement extending the accord, which was due to expire in April 2012, to April 2022. [Source: Dow Jones]

Petrobras to Expand Production in Argentina

Reuters - Brazilian oil company Petróleo Brasileiro SA wants to boost oil exploration and production activities in neighboring Argentina, Chief Executive Maria das Graças Foster told reporters on Wednesday. Earlier, in a phone conference with investors, the company best known as Petrobras said its production outlook for the next several years relies on the extension of gas contracts with Bolivia and the exploration of shale gas in the United States and Argentina.  

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, but Shell officials told him they will need a second drilling vessel as backup, Hutmacher said. (Source: Anchorage Daily News – www.and.com)

Offshore Oil Exploration to Start Early 2009

Minister of Oil and Gas Affairs and Head of the National Oil and Gas Authority (NOGA) of Bahrain Dr. Abdulhussein Bin Ali Mirza has said that exploration and drilling for oil in the offshore areas would start by early 2009; he added that 2008 would be spent studying the areas geologically and geophysically. Three companies from among 24 that were competing had reportedly won the right to explore in four offshore areas. [Source: http://english.bna.bh]

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, but environmentalists say oil exploration there could damage a sensitive region already under threat by global warming. The names of companies attending the meeting and what…

Daewoo Gets $740m in Contracts for Two Vessels

Reuters reported that Daewoo Shipbuilding and Marine Engineering Co. had secured a combined $740m order to build a drill ship and a crude oil carrier. The two vessel orders underlined booming oil exploration around the world, Daewoo said in a statement, as crude oil futures have set a series of recent records. The shipbuilder will deliver the drill ship for $623.8m to an unidentified shipping firm from the Oceania Continent, while the crude oil carrier will go to a Europe-based shipper by the end of 2010.

India's Oil Exploration near South China Sea Irks China

Photo by ONGC Videsh

The state-run China Daily says that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is "illegal and is an "unwise move" that may "sabotage" positive momentum in ties. "India's intention to once again explore for oil in the disputed waters of the South China Sea is an unwise move, as it will further complicate the maritime disputes and do a disservice to maintaining the positive momentum that has been achieved in China-India ties," the China Daily said in an editorial.

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. (Source: livemint.com)

Oil Giants Rally To Landmark Brazil Auction

International oil companies reportedly rallied to Brazil's first-ever oil exploration auction, putting up a surprisingly high $93 million for the right to explore in just four areas on the first morning of a two-day bidding round.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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