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Saturday, August 18, 2018

Ongc News

MV SSL Kolkata: Salvage Operations Continue

Indian flagged containership SSL Kolkata caught fire and went adrift in the Bay of Bengal on June 13 (Photo courtesy of the Indian Coast Guard)

The salvage operations of the container vessel MV SSL Kolkata that had caught fire last month, is continuing in rough weather conditions with 2- 4 metre swells. The vessel is grounded at about 8 nautical miles off the ecologically sensitive Sundarbans since the 13th of last month when its cargo area had caught fire following an explosion. All 22 crew members were   rescued by the Indian Coast Guard. The Directorate General of Shipping and its allied office, Mercantile Marine Department, Kolkata, Govt.

Iran Hurries India to Finish Chabahar Port

Map courtesy: Hindustantimes

India has come “under pressure” from Iran to complete the Chabahar Port project, with the lifting of Iranian trade sanctions, reports Hindu Business Line. Acting strategically to China’s repeated attempts to wean away India from Chabahar Port upgradation, India is taking steps to firm up its bilateral negotiations and alliance with Iran. According to highly placed sources, both sides have also arrived at a deadline to complete the talks on LNG terminal. A top official, involved in the talks, has reportedly said that India is under pressure to complete the Chabahar project.

Tata to Invest in Swan LNG Project

Tata Realty and Infrastructure Ltd (TRIL) is taking 10 percent stake in a Rs. 5,900 crore ($867 mln) floating LNG import terminal being set up by Nikhil Merchant led Swan Energy in Gujarat. This will be the first investment by Tata Group in gas business. And this is the first investment decision since N Chandrasekaran named as the Tata Group chief. TRIL was established in 2007 to pursue opportunities in the real estate and infrastructure sectors. It is a wholly-owned subsidiary of Tata Sons, the holding company of the Tata Group. According to a stock exchange filing made by Swan Energy, an Expression of Interest (EOI) has been filed by TRIL “showing its willingness to invest up to 10 per cent of the equity”.

India Issues New Guidelines for Investment in Ports

Indian Prime Minister Narendra Modi. Photo: PIB

India's Ministry of Shipping has undertaken a diverse set of initiatives as part of its drive to boost profitability across major Indian ports.One major initiative is to improve the returns earned on treasury investments by the ports for pension, provident and surplus funds. Across all major ports, these funds add up to around INR  33,000 crore (USD 4.8 billion), yielding interest of around INR 2,700 crore (USD 394 million)Looking for ways to push this amount further, the Ministry…

"Oil Spill India 2016" set for Launch in Mumbai in August

(l to r) Capt Kalia with DGS Deepak Shetty Photo OSI

The 4th Edition of Oil Spill India (OSI) 2016 is all set to be launched at the JW Marriot Sahar, Mumbai. Keeping with the current trend and the government policy of "Make in India" the theme selected for this two-day event scheduled for 11th and 12th August 2016 is "Commitment, Synergy, Excellence. For the first time Mumbai will play host to this unique major event “OSI 2016”, whereas the first three editions had been successfully hosted in GOA. In year 2011, Oil and Natural Gas Corporation Ltd (ONGC)…

Indian Firms Plan to Sign Oil Deals with Rosneft

India plans to sign energy deals with Russian oil major Rosneft next week to buy stakes in Siberian fields, two sources privy to the deal said, as New Delhi accelerates a push to secure overseas energy assets. India, the world's third biggest oil importer, has to ship in three quarters of its oil needs and a substantial fall in oil prices has added an extra incentive to seal purchases of assets that are now relatively cheap to limit its reliance on imports. Rosneft's Chief Executive Igor Sechin will visit Delhi on March 15-16 to stitch together the deals, the sources said. Rosneft, the world's biggest listed oil company by output, also…

Shell Delivers more Brazil Deep-water Production

Shell and its joint venture announce the start of oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil's Campos Basin. Production for this final phase of the project is expected to add up to 20,000 barrels of oil equivalent per day (boe/d) at peak production, from fields that have already produced more than 100-million barrels since 2009. "The safe, early delivery of this production is a testament to the efficiency of our deep-water project execution," said Wael Sawan, Executive Vice-President, Deep Water, Shell. "With this phased project, we have again demonstrated value from standardization, synergies from contractual relationships, and the strategic deployment of new technologies.

India Seeks Stake in Iran LNG Terminal

Dharmendra Pradhan. Photo: Petroleum Ministry, India

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation, reports PTI. India is ready to invest $20 billion in the development of Iran’s Chabahar port and has requested it to allocate adequate land in the Chabahar Special Economic Zone (SEZ), state-run Oil and Natural Gas Corp (ONGC) said in a statement. "Dharmendra Pradhan conveyed to the…

Vietnam Renews India Oil Deal In Tense South China Sea

Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region. The moves come at a delicate time in Beijing's relations with Vietnam, which claims parts of the sea, and India, which recently sent warships to monitor the Malacca Straits, through which most of China's energy supplies and trade passes. Vietnam granted Indian oil firm ONGC Videsh a two-year extension to explore oil block 128 in a letter that arrived earlier this week, the state-run company's managing director Narendra K. Verma told Reuters.

IOC Books 1 Mtpa Capacity at Swan LNG Terminal

Image: Swan Energy Ltd. (SEL)

Indian Oil Corp. has booked one million tonne a year capacity in Swan Energy’s proposed LNG terminal at Jafrabad in the Indian state of Gujarat, B Ashok, chairman said. He expects gas to contribute 15 per cent to the energy mix in 5-7 years from 8 per cent now as the country moves to the cleaner fuel. The terminal has a total capacity of 5 million tonne per annum (mtpa). Earlier, Swan Energy had approached three public sector companies — ONGC, IOC and BPCL — to book capacities to LNG at its terminal at Jafrabad in Gujarat.

Stiff Challenges Await Indian LNG Terminals

Graph Source: ICRA Research Estimates

India's new LNG import terminals will face major challenges due to price sensitive demand, ICRA said in its latest update on gas utilities sector. "Crowding of regasification terminals could put pressure on utilization levels, regasification charges and returns of new entrants," says ICRA (formerly Investment Information and Credit Rating Agency of India Limited). "Despite high domestic demand-supply deficit, the demand for Regasified-Liquefied Natural Gas (R-LNG) in the country is critically dependent upon the prices of liquid fuels and global spot LNG prices," Icra said.

Court Orders Swiber to Stop Payment of Bank Guarantees

File photo: Swiber

Swiber Offshore Construction, part of troubled Singapore oilfield services firm Swiber Holdings, has received an interim court order to halt payment of bank guarantees for projects it was involved in, a stock exchange filing showed. Parent company Swiber Holdings last month applied to place itself under judicial management, after initially filing for liquidation, becoming the largest local company to fall victim to the slump in oil prices. Judicial management allows for a company to be nursed back to health under the supervision of the Singapore Court.

Swan Sells 60% of FLNG Terminal Capacity

Pic: Swan Energy Ltd

Indian public sector oild giants Oil and Natural Gas Corp (ONGC), Indian Oil Corporation (IOC)  and Bharat Petroleum Corp Ltd (BPCL) have booked 60 per cent of the capacity of Swan Energy Ltd. (SEL)'s upcoming floating Liquefied natural gas (LNG) terminal off the Gujarat coast. ONGC, IOC and BPCL have agreed to take one million tonnes per annum capacity each on the 5 million tonnes a year floating LNG terminal planned at Jafrabad port in Gujarat, sources privy to the negotiations said.

L&T Bags Offshore Contract from ONGC

Photo: L&T

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has signed an offshore contract for ‘Bassein Development 3 Well Platform & Pipeline Project’ with Oil & Natural Gas Corporation (ONGC). Larsen and Toubro stated in a stock exchange announcement that the contract is valued at approximately 1,483 crores (approximately 229 Million USD). The order, won against International Competitive Bidding, encompasses ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning - for the project.

Kreuz Subsea Wins 5-vessel Contract in India

Kreuz Installer (Photo: Kreuz Subsea)

Subsea services provider Kreuz Subsea said it has been awarded a contract to deliver subsea completion work for Indian multi-national conglomerate, Larsen & Toubro (L&T) from the start of 2018. The contract, worth an undisclosed eight-figure sum, will see Kreuz Subsea support L&T to install all riser clamps, risers, crossing works, tie-ins, subsea trenching and hydro-testing of pipelines which are part of the Oil & Natural Gas Corporation’s (ONGC) Pipeline Replacement Project (PRP4) and Daman Field development projects off the west coast of India.

Search for ONGC Offshore Helicopter Crew Continues

Photo: Pawan Hans Ltd

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.

Fire on Ship Under Repair Kills 5 in India

A blast caused by a fire on a ship under repair at India's Cochin Shipyard Ltd killed five people on Tuesday, and injured around 11, a company spokeswoman said, prompting the government to call for a quick enquiry. The spokeswoman said smoke hampered rescue operations initially and that an investigation would be launched soon. The ship belongs to the country's top energy explorer, Oil and Natural Gas Corp Ltd, she added. An ONGC official said the ship was undergoing maintenance at state-run Cochin Shipyard on the country's southwest coast. The blast took place inside the water tank, said M.P. Dinesh, a senior police official in the southern state of Kerala where the shipyard is located.

Five Killed in Blast Onboard Modu Sagar Bhushan

Image by Cochin Shipyard Ltd

Five people were killed and 7 injured yesterday (February 13),  in an unfortunate fire incident onboard Sagar Bhushan, an oil rig of ONGC, undergoing repairs at Cochin Shipyard. The Chairman and Managing Director of Cochin Shipyard has announced an  immediate ex gratia of INR 10 lakhs (USD 15560) for the families of the deceased. All treatment expenses of the injured will be met by the company as per its existing policies. All necessary assistance is  being provided by the  Company to those affected,  and the entire senior leadership is monitoring the process.

IRClass Acquires Safess Quality Management

Arun Sharma - Chairman (1RS)

IRClass Systems and Solutions Pvt Ltd (promoted by Indian Register of Shipping), has acquired cryogenic vessel inspection firm Safess Quality Management Pvt Ltd (SQML) and its subsidiary, Arun Abhiyantey Pvt. Ltd. (AA). SQML was founded in 1993 and has offices in Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Kochi, Kota and Ahmedabad. SQML is certified for ISO 9001-2008 by the British Standard Institution and registered with National Small Scale Industries (NSCME) department.

Swan, EXMAR Partner for India’s First FSRU Terminal

Image: © Swan LNG

EXMAR has entered into a binding Term Sheet with Swan Energy Limited for the joint development and operation of the Jafrabad LNG Port project, to be located in the State of Gujarat, India. The Jafrabad LNG Port will be a 5 million tons per annum (MTPA) LNG receiving terminal, with one jetty-moored Floating, Storage and Regasification Unit (FSRU). The two partners have the firm intention to expand the terminal to 10 MTPA, through the deployment of a second FSRU. Swan secured all necessary permitting for the project and the concession agreement is ready for execution.

ADNOC Signs Major Offshore Concession Agreements with Total

Image: Abu Dhabi National Oil Company

The Abu Dhabi National Oil Company (ADNOC) has signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the terms of the agreements, Total has been awarded a 20% interest in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession. Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939. Today, the French super-major collaborates with ADNOC across the value chain…

Asian Oil, Gas Producers Stepping up Activity after Long Lull

© nattapon7 / Adobe Stock

Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security, executives said this week during an industry event in Kuala Lumpur, Malaysia. Asia is by far the biggest, fastest-growing consumer of oil, yet its output is falling faster than in any other region.

JNPT Liquid Cargo Terminal Handles Highest Crude Oil

Photo: Jawaharlal Nehru Port Trust

Jawaharlal Nehru Port Trust (JNPT), India’s number one container port, created a major record on November 16, 2016, by loading 80,640 MT of ONGC crude oil on a large vessel ‘MT Desh Bhakta’, which was berthed at LB-01 of BPCL-run Liquid Cargo Terminal. This is the highest quantity of crude oil loaded on a vessel at JNPT which has surpassed the previous highest of 80,489 MT loaded on Tanker vessel ‘MT Ratna Urvi’ in June 2012. ONGC’s crude oil tanker MT Desh Bhakta, which measures LoA of 244.2 meters…

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

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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