According to a report from Reuters, state-run Bangladesh Oil, Gas and Mineral Corporation clinched a preliminary deal with U.S. firm ConocoPhillips on Oct. 10 for oil and gas exploration in the Bay of Bengal, subject to signature of a production sharing agreement. ConocoPhillips will start seismic surveys and exploration around two deepwater gas blocks after signing the PSC. The deal, concluded after two years of talks, is intended to address acute gas shortages, with production hovering at around 2,000 million cubic feet per day against demand of about 2,500. (Source: Reuters)
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
Oil and Gas Exploration industry alert provided by U.S. Equity News. ENSCO International Incorporated announced recently that its Contract Status of Offshore Rig Fleet Report has been updated as of Monday December 17, 2007. The Report is available on the Company's website at http://www.enscous.com and can be accessed from the home page by clicking on "Rig Contract Status." The Report also can be accessed through the SEC EDGAR System
Devon Energy Corporation, a U.S.-based oil and gas exploration, development and production company, sold its producing Panyu field located offshore China to China National Offshore Oil Corporation. China National Offshore is a state-owned oil and gas producer in China. In April, Devon Energy said it had agreed to sell its producing Panyu field located offshore China to China National Offshore for $515m. During 2009, Devon's production from the Panyu field was approximately 12 thousand barrels
Polar Petroleum Corp. appointed Mr. Donald W. Brizzolara to the Company's Advisory Board as Chief Geological Advisor. Mr. Brizzolara represents 25 years of experience in oil and gas exploration and development, geology and consulting experience for firms such as ConocoPhillips and Shell. Of particular importance to the Company, Mr. Brizzolara's background includes work on the Prudhoe and Kuparuk fields, which, together constitute the majority of the oil production on the North Slope (51%
A new research report from Transport Intelligence (Ti) has suggested that due to a wave of new investment, the scope and structure of oil and gas exploration and production (E&P) has broadened extensively over the past decade, creating an array of opportunities for logistics service providers. This is, in part, due to the emergence of substantial E&P activity in new locations which acts to drive up logistics spend
Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental directive in allocating licenses. The government is considering an appeal against the judgment on the basis that it is not taking into account the Commission's Habitats Directive in issuing exploration licenses. A spokesman said the government had been planning to issue new licenses in its 19th round early in 2000
About 80 percent of India's sedimentary basins with potential for oil and natural gas reserves remain unexplored, energy experts have said at the Oceantex Offshore Conference and Technology Exposition. According to conference speakers, India's demand for hydrocarbons was steadily increasing, putting additional pressure on oil companies and the government. The demand for crude oil was set to reach 170 million metric tons of oil equivalent (MMTOE) while production will reach only 58 MMTOE by
Ukraine's NJSC Naftogaz signed a memorandum of understanding with U.S. Frontera Resources on the construction of a liquefied natural gas (LNG) terminal in Ukraine, according to Ukrainian Prime Minister Arseniy Yatsenyuk. "U.S.-based Frontera will begin the construction of an LNG terminal and launch natural gas shipments to Ukraine through this terminal," Yatsenyuk said. He added that the project
Japan has protested to China over signs it is pressing ahead with maritime gas exploration in the East China Sea despite Tokyo's repeated requests to stop, Japan's top government spokesman said on Wednesday. The exploration platforms are on the Chinese side of the median line between the two countries, but Japan accuses China of ignoring a 2008 agreement to maintain cooperation on resources development in an area where no official border has been drawn.
Following President Trump’s address to the joint session of Congress, National Ocean Industries Association (NOIA) president Randall Luthi weighs in on shifting U.S. policy and its effects on offshore energy and the American economy.
Arctic sea ice may vanish in summers this century even if governments achieve a core target for limiting global warming set by almost 200 nations in 2015, scientists said on Monday. Arctic sea ice has been shrinking steadily in recent decades
The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway
The extent of sea ice in the Arctic Ocean has set a new record low for the wintertime in a region strongly affected by long-term trends of global warming, U.S. and European scientists said on Wednesday. Sea ice around the North Pole expands to its biggest extent of the year in February or
Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper
Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC) have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf, reports Press TV.
Global Maritime Deep Sea Mooring, a provider of offshore mooring services in Norway, has signed a contract with Norwegian operator Det norske oljeselskap to support Prosafe’s semi-submersible Safe Zephyrus accommodation rig in the Ivar Aasen North Sea field
NYK has acquired a 25 percent share of EMAS Chiyoda Subsea Limited (ECS), based on an agreement signed on June 10 with Ezra Holdings Limited (Ezra) and the Chiyoda Corporation (Chiyoda). ECS is a global player in the engineering, procurement, construction
Last month, a large cruise ship completed its inaugural cruise through the Northwest Passage. The historic journey brought nearly 1,700 passengers from Seward, Alaska, past the rugged wilderness and isolated villages of the Arctic, to the concrete jungle of New York City
As diminishing sea ice in the Arctic Ocean expands navigable waters, scientists sponsored by the Office of Naval Research have traveled to the region to study the changing environment and provide new tools to help the U.S. Navy operate in a once-inaccessible area.
Thailand is increasing its planned long-term imports of liquefied natural gas (LNG) to meet rising demand after delays to the construction of coal-fired power plants, a senior official at energy ministry said on Wednesday. Energy policy makers have revised their target of LNG imports to 17
National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement on the withdrawal of portions of the Atlantic and Arctic Oceans from future oil and natural gas leasing: “President Obama’s short sighted
The Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper announced the bureau will offer more than 48 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development, in a lease sale that will include all available unleased areas in the
Fugro has been awarded a contract from INPEX Operations Australia Pty Ltd (INPEX) for subsea services to be executed across the Ichthys facilities in the Timor Sea, located approximately 220 kilometres from the coast of Western Australia. INPEX is Japan’s largest oil and gas exploration and
Wärtsilä and PGS Geophysical AS have signed a service agreement that makes Wärtsilä the preferred service supplier for engines and other Wärtsilä equipment. According to the agreement, Wärtsilä will take care of the maintenance of engines and