Oil Search Signs Agreement for LNG Project Study
Oil Search Ltd said it has signed a cost sharing agreement (CSA) with its joint venture participants in the Hides, Angore and Juha fields, to study the opportunity to develop a liquefied natural gas (LNG) project. An estimated $60mis expected to be spent on the LNG project studies over the next year with Oil Search expected to fund a minimum 32 pct of the CSA. Oil Search said the joint venture partners have an option, up until the end of June 2007, to participate in the CSA studies and Oil Search is presently reviewing this option as part of assessing its overall direction in developing LNG. Source: AFX
Oil Search Expects LNG Project Agreement by Year End
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…
Oil Search and Halliburton Renew Contract
Oil Search Limited and Halliburton have signed an agreement to renew an alliance that was originally formed in 2004. The multimillion-dollar contract covers three years, with the option for two additional years. The agreement calls for Halliburton to provide a full range of subsurface services, including drilling and formation evaluation, slickline, fluids, cementing services and production enhancement in Papua New Guinea where Oil Search is the industry leader in oil and gas exploration and development. Some of the Halliburton technology to be provided includes InSite AFR (Azimuthal Focused Resistivity) logging-while-drilling imaging sensors to aid positioning in the reservoir…
Search for ONGC Offshore Helicopter Crew Continues
The Indian Navy has widened its search operations for the missing crew members of the Pawan Hans helicopter (C/s VT-PWA) which crashed off the Mumbai coast on Saturday. The helicopter with seven people on-board, including five Oil and Natural Gas Corporation (ONGC) officers and two pilots, crashed off the Mumbai coast minutes after it took off for the state-owned company’s oil installation in the Arabian sea on Saturday. According to NDTV report, on the third day of search in the high seas, the rescuers located the last remaining body - of the missing pilot.
Fugro Get Papua New Guinea Pipeline IRM Contract
Fugro-TSM, a division of Fugro Subsea Services, has been awarded the Kumul Marine Terminal Pipeline IRM (Inspection Repair Maintenance) contract by Oil Search Limited. The contract is for the provision of a DP2 DSV to support air diving services around the Kumul Marine Terminal in the Gulf of Papua, PNG. FTSM has mobilised the Rem Etive, complete with work class ROV, air diving spread and associated diver tooling to undertake the IRM works around the platform, oil export pipeline and CALM Buoy. Cal Dive International has been subcontracted to provide the air diving services.
EnerSea Advances CNG Projects
EnerSea Transport LLC (EnerSea) is advancing its efforts into the next phase of two international gas development and import project proposals for the Philippines and New Zealand using EnerSea's compressed natural gas (CNG) marine transport and storage systems and services. The two gas supply projects are being led by Unocal Corporation and Oil Search Limited, respectively. EnerSea along with Oil Search and Itochu Corporation have signed a Pre- Development Agreement to perform a comprehensive feasibility study to establish the viability of a large scale CNG transportation project to ship natural gas from Papua New Guinea (PNG) to New Zealand.
ExxonMobil in Talks with Possible LNG Buyers
ExxonMobil Corp. has started marketing gas from its planned liquified natural gas project in to potential buyers. Discussions with buyers began this month, according to a representative from the company who told the South East Asia Australia Offshore Conference in . ExxonMobil is marketing the gas on behalf of project partners, which include Oil Search Ltd. (OSH.AU). Source: Dow Jones
Baltic Border Deal Paves Way For Oil Search
The settlement of a drawn-out maritime border dispute between Latvia and Lithuania has reportedly set the stage for exploration of a potentially bountiful offshore oilfield.
Rescuers Resume Search for Sanchi Survivors
Rescue boats resumed their search in choppy waters of the East China Sea on Thursday for any survivors from the stricken Iranian oil tanker that collided with a freight ship and burst into flames at the weekend, the Chinese government said. The ship remains at risk of exploding and sinking due to spilled oil as the fire raged for a fifth day, the Ministry of Transportation said in a statement on Thursday. Rescue crews were forced to retreat on Wednesday after a blast on the tanker.
L&M Petroleum Begins Offshore Oil Search
A major offshore search for oil and gas is now underway in the Solander Basin, southwest of Invercargill. Christchurch-based L & M Petroleum recently began a 1,000km offshore seismic survey in what is the biggest exploration in the region for two decades, and the company says preliminary results are promising. L & M Group says four large prospects and numerous leads have been identified and the current survey has been designed to enhance some of the larger targets prior to drilling. L & M also holds onshore Petroleum Exploration Permits covering the Waiau and Te Anau Basins where two drilling programs will be ready for testing within weeks. (Source: Newswire.co.nz)
First LNG Cargo Loaded from Exxon PNG Project
LNG carrier Spirit of Hela, which is jointly owned by MOL and Itochu Corporation, has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project, Mitsui O.S.K. Lines, Ltd. announced. The PNG LNG Project is Papua New Guinea’s first ever LNG project, and it will provide long-term supply of gas to customers in Japan and other countries. The vessel loaded LNG at the Project’s Marine Terminal, which is located near Port Moresby, the capital of Papua New Guinea. The first cargo will be delivered to Tokyo Electric Power Company. On May 14, Papua New Guinea’s Prime Minister Peter O’Neill visited the vessel for a tour.
Stricken Tanker Sinks, Leaves Large Slick in East China Sea
Two bodies, black box recovered from tanker before sinking; Iran says remaining 29 crew, passengers presumed dead. A stricken Iranian tanker that sank in the East China Sea on Sunday in the worst oil ship disaster in decades has produced a large oil slick, Chinese media and Japanese authorities said on Monday, as worries grew over damage to the marine ecosystem. The tanker Sanchi (IMO:9356608) had been adrift and ablaze after crashing into the freighter CF Crystal (IMO:9497050) on Jan.
Malaysia to Pay up to $70 Mln if MH370 is Found
Malaysia signed a deal on Wednesday to pay a U.S. seabed exploration firm up to $70 million if it finds the missing Malaysia Airlines aircraft MH370 within 90 days of embarking on a new search in the Southern Indian ocean. The disappearance of the aircraft en route from Kuala Lumpur to Beijing in March 2014 with 239 people aboard ranks among the world’s greatest aviation mysteries. Australia, China and Malaysia ended a fruitless A$200-million ($157 million) search of a 120,000 sq.
Promotion Launched for Yemen Offshore Blocks
Oil is the key corner of the development process of Yemeni economy. The Ministry of Oil and Minerals headed by the Minister Khalid M. Bahah and the Petroleum Exploration Production Authority (PEPA) have launched a massive campaign promoting Yemens offshore oil blocks. Recently, the Ministry held a promotional conference to highlight the features of investing in Yemen and to call on investors to place their bids for the new 11 Offshore Oil blocks that are up for grabs. The blocks are located in the Red Sea, blocks 55, 22 and 23; Gulf of Aden, blocks 46, 61, 62 and 63 and Socotra basin, blocks 93, 94, 95, and 96. The conference was a success with more than 40 big oil firms attending including Shell, British Petroleum, Exxon Mobil, Oxy, Nexen, Oil Search and CCC.
Tanker Continues to Burn in East China Sea
Strong winds, high waves and toxic gases are hindering dozens of rescue boats struggling to locate missing sailors from a stricken oil tanker in the East China Sea and to extinguish a fire that has burned for the past three days on the ship. The poor conditions, with rain and waves as high as 3 metres (10 feet), frustrated efforts to tame the fire and search for the 31 remaining tanker crew members, China's Ministry of Transport said in a statement on Tuesday. The flames were forcing the South Korean Coast Guard's search and rescue team to stay as far as 3 miles (4.8 km) away from the tanker…
First PNG LNG Cargo Shipped by Exxon Mobil
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. Production from the first train started in April, 2014, and production from the second train has also started as additional wells came online.
Coast Guard Calls off Search for Pilot Missing in GoM
The U.S Coast Guard has called off the search for missing pilot Bill Kinsinger, 55, and his Cirrus aircraft that vanished over the Gulf of Mexico. Last week, Kinsinger had plans to land in Georgiatown, Texas from Wiley Post Airport in Oklahoma City. When the plane failed to land, air traffic controllers attempted to reach Kinsinger, but received no response. Investigators said the plane continued on course past its destination, and was last observed on radar over the Gulf of Mexico, about 219 miles northwest of Cancun.
Salvage, Rescue Crews Battle Oil Tanker Fire
Body of crew member found on board; casualty might be worst tanker oil spill since 1991 and concerns grow that tanker may explode, sink. Rescue crews wrestled to bring a blaze on an Iranian oil tanker off China's east coast under control on Monday as fire raged for a second day following a collision with a grain ship, while the body of one of the 32 missing crew members was found on aboard. Concerns were growing that the tanker, which hit a freight ship on Saturday night in the East China Sea and burst into flames…
IMO Secretary-General Comments on Sanchi Tanker Disaster
International Maritime Organization (IMO) Secretary-General Kitack Lim said that his organization's thoughts and prayers are with the seafarers still missing from the oil tanker Sanchi, following a reported collision off the coast of China. "I send my deepest sympathies to all their families and loved one," he said in a statement. Lim commended those involved in the international search and rescue operations so far and in the efforts to battle the fire and contain pollution from the ship. “This is an ongoing situation which we are monitoring.
Two Missing after Ship Sinks in South China Sea
The Maritime and Port Authority of Singapore (MPA) said that a ship sank in South China Sea on Friday, 11 out of 13 crew were rescued and two remained missing. According to the survivors, there were 13 crew on board the sunken vessel. Two persons are still unaccounted for. MPA has been providing navigational broadcasts to vessels in the vicinity to report any sightings of persons overboard and to navigate with caution in the vicinity of the incident. The Republic of Singapore…
Downed US Navy Aircraft Found in Philippine Sea
A U.S. Navy team has located a C-2A Greyhound aircraft that crashed in the Philippine Sea on November 22. The downed aircraft rests at a depth of about 18,500 feet, making the salvage operation the deepest recovery attempt of an aircraft to date, the Navy said, adding it will make every effort will be made to recover the aircraft and fallen Sailors, despite very challenging conditions. Eight of the 11 crew and passengers on board were recovered immediately following the crash. For the next three days, the U.S.
US Exits Search for ARA San Juan
The U.S. Navy said it has begun to wind down operations as part of the international search for the still-missing Argentine submarine A.R.A. San Juan that vanished in the South Atlantic in mid November. The U.S. joined the Argentina-led multinational search efforts within 24 hours of learning of the missing submarine on November 17, and is now drawing down, having twice swept the search areas assigned by the Argentine Navy with advanced sensors. U.S. planning and analytical specialists will continue to support the efforts through data analysis. At its height, U.S.
Forhaug Steps in as CEO at MMT
Marine surveying company MMT has appointed Peter Forhaug as acting CEO from January 1, 2018 while the Sweden based firm conducts its search for a permanent CEO. Forhaug has a background in finance and has acted as a senior advisor to the board of MMT and is representing MMT at the board of the SMaRC research project. MMT founder Ola Oskarsson will serve as vice president to assist Forhaug.