India’s NUSI Warns of Oil Exploration Training Shortage
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]
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.
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.
Arctic: ExxonMobil Exits, Rosneft Goes Ahead
Russian state oil company Rosneft will continue geological explorations in the Arctic offshore zone after ExxonMobil quits the joint projects, reports TASS. The report qouted Natural Resources Minister Sergey Donskoy saying that the Arctic licenses will remain with Rosneft and the company "plans to continue to operate there". Exxon Mobil decided to withdraw from the joint projects with Rosneft in late 2017 after Washington issued a legal act expanding against Russia. According to the document, in 2013 and 2014 Exxon Mobil and Rosneft created various entities for operations in oil exploration.
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.
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.
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.
India's Oil Exploration near South China Sea Irks China
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.
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.
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)
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;
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)
Computer Game By Maersk to Spark Interest in Science
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.
Offshore Vessels: Squall Delivered to 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.
Norway Awards 75 Oil Exploration Licenses
Norway's energy ministry has awarded 75 offshore exploration blocks to oil companies in a so-called predefined areas (APA) licensing round, handing out acreage to 34 firms, of which 19 got at least one operatorship, it said on Tuesday. A total of 39 firms had applied for the offered acreage, up from 33 companies that applied in the previous round a year ago, when the ministry awarded 56 exploration licenses. (Reporting by Nerijus Adomaitis and Joachim Dagenborg, editing by Terje Solsvik)
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]
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]
Maersk Oil Exploration License Offshore Greenland
According to a Nov. 29 report from The Wall Street Journal, Maersk Oil has been awarded a license covering Block 9 in Baffin Bay, offshore West Greenland. The frontier exploration block is 11,802 sq km. (Source: The Wall Street Journal)
India Approves Exploration Contracts
According to a March 19 report from The Wall Street Journal, India approved oil exploration contracts for Oil and Natural Gas Corp. (ONGC), the nation’s biggest energy explorer, and BHP Billiton Ltd as it sought to cut dependence on imports. The South Asian nation approved the award of 33 blocks, home minister P. Chidambaram told reporters in New Delhi after a cabinet meeting. (Source: The Wall Street Journal)
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.