Jan 11, 2011

Abu Dhabi To Extend Japan Firm's Oil Rights By 30 Years

The rights to offshore oil fields held by a Japanese firm will be extended for 30 years after their 2012 expiration, the head of Abu Dhabi National Oil Co., or ADNOC, told the visiting Japanese trade minister Tuesday.
[Read more]
Source: NIKKEI
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Technip Awarded Umbilical Contracts in Angola

Technip announces that a consortium comprising two of its subsidiaries, Angoflex Ltda (owned jointly with Sonangol) and DUCO Ltd., has been awarded by Acergy Angola S.A. and Acergy West Africa S.A.S. major umbilical* contracts for the CLOV field development. This field is located in Block 17 offshore Angola in water depths down to 1,410 meters. The development operator is Total E&P Angola.
The contracts cover the supply of 76 kilometers of dynamic and static production and water injection umbilicals, which will be manufactured at the Angoflex facility in Lobito, Angola. The umbilicals are scheduled for delivery in 2013 and will be the first to be delivered following the expansion of the plant capacity.
The expansion includes the installation of two large manufacturing carousels, an upgrade to the existing helical lay-up machine and the installation of a load-out path. This expansion will allow Angoflex Ltda to fabricate 100% of the CLOV umbilical workscope in its Lobito manufacturing plant. It constitutes a significant milestone in Angoflex shareholders’ objective to maximize Angolan content.
The award of the contracts continues Angoflex’s proven track record in the supply of umbilicals for deepwater Block 17 in Angola, including Dalia & Pazflor projects.
[Read more]
Source: Press release
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Crowley Maritime acquires Houston freight firm

Tom Crowley Jr., chairman, president and CEO of Crowley Maritime Corporation calls the just-announced acquisition of Jarvis International Freight, Inc. "a unique opportunity to extend our logistics services to new industries and geographic areas."
[Read More]
Source: Marine Log

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Macondo commission releases investigation report, Halliburton comments

The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling investigation report was released to the public today. While Halliburton says it continues to examine the report, it does disagree with some of the findings it has seen.
In short, the report made the following conclusions:
1. The event could have been prevented.
2. It was caused by mistakes made by BP, Halliburton, and Transocean and shows that the safety culture of the industry is in doubt.
3. Deepwater exploration and production have risks for which neither the government nor industry is prepared.
4. Fundamental reform is needed to assure human safety and environmental protection. Regulatory oversight of leasing, energy exploration, and production needs reform in both structure and decision making.
5. Technology, laws and regulations, and practices for containing, responding to, and cleaning up spills lags behind the risk of deepwater drilling. Government must close the gap and industry must support rather than resist the effort.
6. Scientific understanding of environmental conditions in sensitive environments is inadequate.
Halliburton’s initial disagreement is in regard to comments about the foam stability tests related to the cement pumped on the well. In general, Halliburton says, the commission selectively omitted information provided by Halliburton concerning the amount of time required for the foam stability test to be completed.
Source: Press release
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Mexico unveils new deepwater oil drilling rules

Mexico's oil and gas regulator unveiled new rules for deepwater drilling on Tuesday aimed at preventing a repeat of BP's Macondo Gulf oil spill but stopped short of halting drilling during the safety review.
[Read more]
Source: Reuters
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Dalian Port plans $378 mln bond to repay debt

Dalian Port (PDA) Co Ltd (2880.HK)(601880.SS) said it plans to issue up to 2.5 billion yuan ($377.7 million) worth of domestic bonds, raising funds to adjust its debt structure, repay bank loans and for working capital.
[Read More]
Source: Reuters

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Oil Pipeline in Alaska Has Plan to Restart

Worried about the effect of freezing temperatures, the operator of the Trans Alaska Pipeline System said it planned to temporarily restart the flow of oil through its 800-mile network, even though repairs had not yet been completed on the leak that forced the shutdown of the system on Saturday.
[Read more]
Source: New Tork Times
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Chevron Issues Interim Update for Fourth Quarter 2010

Chevron Corporation today reported in its interim update that earnings for the fourth quarter 2010 are expected to be higher than in the third quarter 2010. Upstream results are projected to improve between sequential quarters, benefiting from higher crude oil prices and increased liquids liftings. Downstream earnings in the fourth quarter are also expected to be higher, reflecting a gain on an asset sale.
Basis for Comparison in Interim Update
The interim update contains certain industry and company operating data for the fourth quarter 2010. The production volumes, realizations, margins and certain other items in the report are based on a portion of the quarter and are not necessarily indicative of Chevron's quarterly results to be reported on January 28, 2011. The reader should not place undue reliance on this data.
Unless noted otherwise, all commentary is based on two months of the fourth quarter 2010 versus full third quarter 2010 results.
Source: Press release
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Strictly Business

The Somali pirates we see pictures of are just a rag-tag bunch of Fagin’s young men with weapons charging across the water, often high on khat.
But look past that and behind them is a very well structured, well-organized business plan that would impress any Wall-street firm.
Investors and suppliers provide money and equipment to run the operation.  A gang leader then oversees, pirate action groups, the onboard commander, the accountant, a logistics manager… there is even a chef and a sous-chef.
According to a UN report, pirates are divided into class A and class B.
[Read More]
Source: Shiptalk

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Oil spill panel calls for sweeping changes

The presidential commission investigating the Deepwater Horizon spill in the Gulf of Mexico wants more funding for oversight, allocation of penalty payments to gulf restoration, and a lifting of the $75-million liability cap on oil firms.
[Read more]
Source: Los Angeles Times
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Shipping facing a challenging year

Leading accountant and shipping industry adviser Moore Stephens says the shipping sector faces a challenging year in 2011, with freight rates under pressure, crew costs continuing to rise and the banks closely monitoring the future viability of poor performers.
[Read More]
Source: Motorship

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BAE systems develops anti-pirate device

BAE Systems in the UK has successfully demonstrated a prototype device that will serve as an effective non-lethal deterrent against pirate attacks on commercial vessels.
Piracy worldwide is on the rise according to reports from the ICC’s International Maritime Bureau (IMB), with 430 attacks worldwide reported last year, up from 406 in 2009. As pirates increase their range of operations and their capabilities, commercial shipping agents are increasingly looking for ways of preventing attacks whilst avoiding armed guards on their ships.
[Read More]
Source: Motorship

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Gazprom Neft to be operator of new Arctic oilfield

BP's Russian oil venture and the oil arm of state gas monopoly Gazprom tightened their grip on a major Arctic oil and gas field, putting themselves in position to finance and develop the huge deposit.
The two companies said on Tuesday they acquired the license holder for the giant Messoyakha field on the Arctic Yamal peninsula, from their joint venture Slavneft, putting the project under their direct control.
[Read more]
Source: Reuters

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ASEAN shipowners reject ITF wage proposal

The Federation of ASEAN Shipowners' Associations (FASA) has opposed the decision by the International Transport Workers' Federation (ITF) to establish a minimum wage for non-domiciled seafarers employed on national flag vessels.
[Read More]
Source: Baird Maritime

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South Korean giants in US grain trading firm plan

STX Corp and Hanjin Transportation are part of consortium by South Korea that plans to set up a grain trading firm in the US. State-owned Korea Agro-Fisheries Trade Corp is in talks with STX and Hanjin as well as, CJ CheilJedang Corp and Samsung C&T, to form a consortium to establish a grain trading firm in Chicago to mitigate impact of global food volatility according to local reports.
[Read More]
Source: Seatrade Asia

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Fire damage at Alberta crude oil producer less than originally feared

An initial examination of the fire-damaged upgrader at Canadian Natural Resources Ltd.'s Horizon oilsands project suggests it may be restarted sooner than expected.
"We still have a ways to go to define a timeline but in terms of where we were here just at the beginning of the weekend, it looks a lot better than we had initially thought," Peter Janson, head of operations at the plant, said in an interview yesterday.
[Read more]
Source: The Gazette
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Oz lead ban was based on testing error

AN ERROR was behind a cancellation of lead exports from Western Australia last month, backup testing revealed today.
The state government barred shipments by Magellan Metals through Fremantle on 31 December after monitoring of contamination levels indicated powdered lead carbonate had escaped from sealed bags in boxes sent by rail to port storage from the company’s Wiluna mine.
[Read More]
Source: safety at sea

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GNMTC suezmax attacked

A Libyan-owned suezmax tanker has been attacked by armed pirates in the Gulf of Aden, TradeWinds has learned.
Pirates fired shots at General National Maritime Transport Co’s 164,925-dwt Barbarosa but the captain managed to outrun the gang, sources at the company reveal.
[Read More]
Source: TradeWinds

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Chevron Says Eugene Platform Production Restored

Chevron Corp. restored oil production at an offshore platform in its Eugene Island field after a one-hour shutdown yesterday, according to Scott Walker, a company spokesman.
“Chevron shut in a shallow-water platform in the Gulf of Mexico’s Eugene Island field yesterday which resulted in a release of 0.00717 gallons of oil,” Walker said in an e-mailed statement today. “The production has been restored and the shut-in lasted less than an hour.”
[Read more]
Source: Bloomberg

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Icebreakers take icebound ships to open water

In the Sea of Okhotsk, the Krasin and Admiral Makarov icebreakers are leading two Russian icebound ships to open water.
More than half the distance has been covered in the past 24 hours.
The caravan is travelling very slowly because of pack ice off the Sakhalin coast. 5 ships sent SOS signals on December 31st.
A minor icebreaker Magadan was the first to have been sent to the rescue, but failed to break the 2-metre thick ice, so a more powerful icebreaker, the Admiral Makarov, joined in.
The Admiral Makarov has already led two icebound ships to open water. A factory ship is still waiting to be released from captivity.  
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Amsterdam ports optimistic for 2011

Amsterdam Seaports, the ports serving the North Sea Canal region, ended 2010 with a 4% increase in transhipment traffic.
Together, Amsterdam, Ijmuiden, Beverwijk and Zaanstad handled transhipment volumes totalling 90 million tonnes.
[Read More]
Source: Sea News

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Panama, finally back to the White List

Panama's Shipping Registry, the largest in the world at the end of 2010, has finally exited the "grey list" compiled by signatories of the Paris Memorandum of Understanding (Paris MOU.)
[Read More]
Source: Sea News
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Statoil Shuts Output at Snorre A, Vigdis After Leak

Statoil ASA, Norway’s biggest energy company, shut production at the Snorre A platform and Vigdis oil field in the North Sea after a gas leak.
The alarm went off at 3:38 a.m. local time at the Snorre A platform due to a leak and production was shut down shortly before 4 a.m., Ola Anders Skauby, a spokesman for the Stavanger- based company, said by telephone today. While the situation was brought under control by 6 a.m. and the leak was stopped in an hour, Statoil doesn’t know when output can resume, Skauby said.
[Read more]
Source: Bloomberg

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Iraq to buy nine ships for $100 million

raq has allocated $100 for the purchase of nine ships, said a source at the state-run Maritime Transport Company. The source said the ships will be mainly used for the import of foodstuffs to the country.
[Read More]
Source: Azzaman
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Tethys Petroleum Receives Govt Approval For Doris Oil Production Project In Kazakhstan

Central Asia-focused Tethys Petroleum announced Tuesday that it has received Kazakh State approval for its Doris oil pilot production project on the Akkulka field.
The approval gives the company the right to produce oil on the field during the exploration period, and allows Tethys to install and operate production facilities for the planned 3,000 to 4,000 barrel of oil per day target - planned for the second quarter of this year.
[Read more]
Source: Proactive Investors

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Boxship profits seen hit by market share fight

A fight for market share between container shipping lines is denting rates and profits, and a lack of capacity discipline could knock earnings below current estimates, shipping consultants Drewry said.
[Read More]
Source: Reuters
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IMV Projects awarded EPCM contract by AltaGas

IMV Projects, a Wood Group company, has been awarded a multimillion dollar contract by AltaGas to provide full engineering, procurement and construction management (EPCM) services for the C$235MM Gordondale sour gas processing facility and associated gas gathering system.
The facility will be designed to process 120 million cubic feet/day and will include deep cut liquids extraction capabilities to recover the natural gas liquids before the gas enters the sales gas pipeline. It will be located approximately 100km northwest of Grande Prairie, in the Gordondale area of the Montney shale gas play, and is expected to be on-stream by the fourth quarter of 2012, pending regulatory approval.
IMV Projects has been involved with the development of the project since its inception, performing the original scoping study and the front-end engineering design (FEED).
We are very pleased to extend our relationship with AltaGas on this facility, said Kevin OBrien, president of IMV Projects. We aim to be Canada's go-to project execution provider for the energy industry and this project will showcase our gas processing capabilities.
IMV Projects also designed the expansion of AltaGas Ante Creek processing facility, which is currently being constructed and features a new amine train, refrigeration unit and gathering system.
Source: Press release

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Middle East Tanker Surplus Widens a Second Week, Weighing on Charter Rates

A surplus of supertankers competing to load 2 million-barrel cargoes of Middle East crude oil expanded for a second week, weighing on vessel owners’ efforts to raise charter rates.
There are 18 percent more very large crude carriers, or VLCCs, for hire over the next 30 days than there are cargoes, according to the median estimate of seven shipbrokers and owners surveyed by Bloomberg News today. A week ago the excess was 15 percent.
[Read More]
Source: Bloomberg
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Major Milestone: BP, partners improve production 10% at super-giant oil field Rumaila in Iraq

The Rumaila Operating Organisation (ROO) has met a major milestone in the re-development of the super-giant Rumaila field in Southern Iraq by increasing production by more than 10 percent above the 1.066 million barrels a day (b/d) initial production rate agreed in December 2009. 
Meeting this production target, and the approval of the Rumaila rehabilitation plan last year, represents the achievement of two significant contractual requirements of the technical services agreement (TSA) signed between BP (NYSE:BP), PetroChina (NYSE:PTR), the Oil Marketing Company of Iraq (SOMO) and the South Oil Company in November 2009. 
The pace of activity on Rumaila has built steadily over the past year. A total of 20 new rigs are now mobilized in the field. Over the course of the year, a total of 41 wells have been drilled, 103 workovers completed and 122 kilometers of flowlines laid. Some 10,000 people are currently working on Rumaila, over double the number at the beginning of 2010. 
"This is an exciting milestone in the history of Rumaila and is a demonstration of what we can achieve by working in partnership with SOC, BP, PetroChina, and the dedication of our contractors. It is testimony to the efforts of the thousands of people who are working on Rumaila - not just that we have increased production but that we are doing so sustainably and with due regard to safety," said Rumaila Joint General Manager Salah Mohammed. 
After the establishment of the ROO 4,000 staff transferred from the South Oil Company with more than 100 from the lead contractor BP, and from PetroChina. The first phase of a major new headquarters and accommodation complex in south Rumaila has been completed; remnants of war have been cleared from rights of way, well sites and other areas of the field; and an environmental baseline survey has been completed. 
"Increasing production at Rumaila, the world's fourth largest oil field, has been a massive undertaking,” said BP’s Chief Executive Bob Dudley. "All parties including BP, Petrochina, SOMO and South Oil Company should be very proud of their achievements. We look forward to working with our partners to make Rumaila the world's second largest oil field. This is important, for Iraq, for BP and for global energy supplies.”
Source: Press release
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Bulker deliveries weighing in on freight rates keeping sentiment on a negative mode

A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With rates now closing in to $10,000/day for a capesize, it’s just a matter of time before some owners at least begin considering even the option of layoffs, as the market’s downturn is such that it could simulate the conditions prevailing during the financial crisis of the final months of 2008. Of course, global dry bulk trade is far from the state it was back then, demand for goods is solid and the global economy is in a large part recovering, although at a slower than expected pace.
[Read More]
Source: Hellenic shipping news
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Utah: Uinta basin gas gathering project starts

Harvest Natural Resources Inc., Houston, and its partner in the Antelope project in Utah’s Uinta basin signed a contract on Dec. 21, 2010, under which El Paso Midstream Group Inc. will provide the capital to build and operate a 25-mile, low-pressure gas gathering pipeline.
The gathering system will provide capacity for current and future production from Harvest’s Lower Green River-Upper Wasatch development project. Harvest will provide capital to build flowlines to connect the produced gas from Harvest wells into the EPMG header system.
As part of the contract arrangement, Harvest and its partner dedicated 75% of their Antelope leasehold to the El Paso contract for 10 years, with a Harvest option to extend the dedication for up to an additional 9 years without any change in contract terms. The area dedication is limited stratigraphically to the top of the Mesaverde formation and excludes Mesaverde deep gas.
Harvest is operator with 60% interest in the Antelope acreage, which lies in Duchesne and Uintah counties between Altamont-Bluebell and Monument Butte oil and gas fields.
Source: Press release

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Mid yards up order targets

Korea's midsize shipyards - Hyundai Mipo Dockyard (HMD), SPP Shipbuilding and Sungdong Shipbuilding & Marine Engineering - have set their new order target for 2011 to the higher level than last year, planning vigorous new order activities.
Majority of the small- and middle-sized shipyards in Korea have seen a huge decrease in new orders due to the slump of the bulk market situation since the second half of last year.
[Read More]
Source: Asiasis
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China: To avoid civil war

Generally speaking, it was not realistic to avoid horizontal competition completely. The competition can not only promoted development but also win-win out tome for the whole industry.
However, the vicious competition might also trigger tragedy. Without regulation and law, the industry would be damaged deeply.
[Read More]
Source: Asiasis
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Maersk Oil: Coaxing out oil from mature assets

If you can learn how to coax out more years from your infrastructure, look with fresh eyes at well data and think laterally, then you can gain a competitive edge when working with mature assets.
Maersk Oil is an old hand in the art of teasing out oil from aging fields in the North Sea and the case of the Gorm field, in the Danish North Sea, is just one example of how it is done.
Almost three decades after the field came onstream, a routine check showed that one well had leaks that could compromise safety. It was shut immediately and, facing a loss of 2,000 barrels per day from just one well, engineers had to decide fast – to abandon the well or drill it again.
After investigating further and reviewing well log data the team came up with a hypothesis – that the well had never produced from a reservoir section and that redrilling a new well in parallel to the original one could actually tap it.
The result was a little surprising. Although the team suspected that parts of the reservoir had remained undrained by the well, once its twin set to work, production doubled to 4,000 barrels per day.
“What I learnt from this experience is – know your wells. Do your reservoir surveillance, well tests and reservoir modeling,” said Per Bak, Section Head in Petroleum Engineering. “It sounds pedantic. People say: ‘You don’t make oil from data’. Well, this shows you can.”
The difficulty in the operation was drilling through sand fractures stemming from the original well. Deep underground it is hard to tell where those sand fractures end up a hundred or more metres away from their points of origin.
“Understanding where sand fracs are has become high priority because this is a big challenge in our maturing fields. We have incorporated a number of logging tools measuring electrical resistance and atom density so that we are not just playing a guessing game,” Bak said.
As another consequence, Maersk Oil established a multi-disciplinary team that looks at workover wells to see how additional benefits can be gained.
“You need to stand on a good foundation of reservoir knowledge and make the most out of these challenges by turning them into opportunities,” Bak said. “What I have learnt is the importance of being ready – when the next well goes, I will be there for it.”
Source: Press release

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Militant attacks in Delta to rise this year – Risk Intelligence

POLITICAL uncertainty in Nigeria looks set to continue to threaten onshore oil infrastructure and offshore security in the Niger Delta, a new report claimed.
In its 2011 forecast, published today, Danish security analyst Risk Intelligence said there were 58 piracy-related security incidents in Nigerian coastal waters last year, significantly down on the 91 incidents reported in 2009 and 114 in 2008.
[Read more]
Source: Vanguard 
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Malaysia unveils projects worth 22 bln U.S. dollars

Malaysian Prime Minister Najib Razak announced 19 large scale development projects aimed at transforming the country into a high-income nation by 2020 at Malaysia's federal administration center Putrajaya on Tuesday.
The projects would generate almost 67 billion ringgit (21.8 billion U.S. dollars) in investment, 36 billion ringgit (11.7 billion U.S. dollars) in gross national income and create 35,000 new jobs.
These projects that come under the national Economic Transformation Program would see major investments in the sectors of healthcare, business services, as well as oil, gas and energy.
ExxonMobil Exploration and Production Malaysia Inc., in conjunction with its production sharing contract partner, Petronas Carigali Sdn Bhd, plans to invest over 10 billion ringgit (3.2 billion U.S. dollars) in new oil and gas assets to help ensure reliable energy supplies for Malaysia.
Najib said the Malaysian government was studying the possibility of deploying the energy to meet future demand and diversify the energy mix for Peninsula Malaysia.
Malaysia's national university, the Universiti Malaya, planned to set up a world class health metropolis at its campus in Petaling Jaya, the adjoining city of the country's capital Kuala Lumpur in another ambitious 1.25 billion ringgit (407.2 million U. S. dollars) investment.
The metropolis will serve as Malaysia's premier medical hub and a critical part of the ASEAN healthcare ecosystem.
Once established, the metropolis will have patient services, research and healthcare education located at the campus, benchmarking global examples like Harvard University's Longwood Medical Area and Stanford University's Bio-X Center.
The project is due to begin by the fourth quarter of this year and completed by the first quarter of 2020.
Najib's announcement on Tuesday was part of the transformation program introduced last year to drive the country's economy forward.
So far, 131 entry point projects have been outlined under the program.
Source: Press release
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Keppel seen bidding for gov’t stake in SSEI

Keppel Philippines Marine Inc. (KPMI) is expected to acquire the government’s 8.76-percent stake in Subic Shipyard and Engineering Inc. (SSEI), which is being auctioned off at a floor price of P584.77 million.
Finance Undersecretary John Philip Sevilla said it would be surprised if KMPI would not bid considering a buyout agreement made last year with institutional Filipino shareholders of SSEI.
[Read More]
Source: Inquirer.ne
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CGGVeritas, BG agree on technology development plan

CGGVeritas says it has signed a technology cooperation agreement with BG Group to develop and deploy seismic advances across the exploration and production workflow. The companies plan to collaborate on such projects as broadband acquisition and processing, complex subsalt imaging, deep targets, and also unconventional gas.
[Read more]
Source: Offshore Magazine
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Prosafe wins LOI for Safe Scandinavia accommodation rig in the UK North Sea

Prosafe has been awarded a Letter of Intent (LOI) by an undisclosed client for the provision of the Safe Scandinavia accommodation support rig at a project in the British sector of the North Sea. The firm period of the contract linked to the LOI is four months with on site operations planned to commence August 2012.
In addition Prosafe has granted the client a one-month option.
Total value of the contract for the firm period is about US $35 million.
Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached US $218.6 million in 2009. The company operates globally, employs approx. 400 people and is headquartered in Larnaca, Cyprus.
Source: Press release
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UK seeks to halve offshore hydrocarbon leaks

UK operators have committed to cut hydrocarbon leaks from offshore installations by 50% over the next three years, according to industry association Oil & Gas UK.
Following collaboration between the industry and offshore safety initiative Step Change in Safety, the number of accidental hydrocarbon releases since 1997 has almost halved, the association claims.
[Read more]
Source: Offshore Magazine
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Caspian Sea drill ship ordered

Daewoo Shipbuilding and Marine Engineering (DSME) has been awarded a drill ship order by a South Korean consortium led by the state-run Korea National Oil Corporation.
[Read More]
Source: Motorship
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Talisman to hold on capital, boost 2011 production

Talisman Energy Inc. says it will boost production by five to 10 per cent this year while keeping spending to about $4 billion, roughly the same as in 2010.
"Talisman's 2011 plan is expected to deliver strong production growth and improving profitability, based on a continuing track record of project execution, capital discipline and improving replacement costs," said president and chief executive John Manzoni in an early morning news release.
[Read more]
Source: The Vancouver Sun
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Providence completes first phase of study for gas storage project

Providence Resources P.l.c., an oil and gas exploration company, through its wholly owned subsidiary EIRGAS Limited, has completed the first phase of the AMEC conceptual development study for the ULYSSES salt cavern gas storage project in the Kish Bank Basin, offshore eastern Ireland.
The ULYSSES Project, which commenced in 2008, assessed the natural gas storage and carbon sequestration potential of the Kish Bank Basin, offshore Dublin. The initial phase of this new study, carried out by AMEC plc, which included planning, capacity modeling, infrastructural integration and gas sourcing has confirmed that the construction of an offshore natural gas salt cavern storage facility at the ULYSSES location is both economically and technically feasible.
A number of scenarios have been developed which have an associated range in capacity, off-take export rates and capital expenditure. Detailed technical data relating to the subsurface geology, which will be acquired through the drilling of the Dalkey Island exploration prospect, will also assist with the advancement of this project.
John O'Sullivan, Technical Director of Providence, said: "The initial results from the AMEC ULYSSES study are very encouraging as they provide a range of potential project sizes and development concepts which could be built to meet market requirements. In outline, if developed, ULYSSES could deliver c. 50% of Ireland's storage capacity as set out in European Union directives through one dedicated offshore facility whilst also providing security of supply through the cold winter months."
Source: Press release
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Hamworthy Wins Brazilian FPSO Pumps Contract For About £30 Mln

Hamworthy PLC said it won a contract from Brazilian shipyard Engevix Construcões Oceânicas S.A. for the supply of cargo pumping systems for eight Floating Production Storage and Offloading vessels or FPSOs.
According to the company, the contract is worth about £30 million and the equipment is scheduled to be delivered between 2012 and 2014.
[Read more]
Source: RTT News
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ACE Winches wins contract from Bluestone Offshore

ACE Winches has secured a £1.6 million contract from Bluestone Offshore for the design and manufacture of two comprehensive winch packages for use on the offshore support vessel, Greatship Maya. 
Each winch package comprises an 18.5 tonne Safe Working Load (SWL) hydraulic drum winch, 300kW containerised electric Hydraulic Power Unit (HPU), a central control cabin, interconnecting pipework package and associated wire rope package.
[Read more]
Source: Offshore Shipping Onlin

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Pride International, Inc. Provides Fleet Contract Status Update

Pride International, Inc. today announced that its report of drilling rig status and contract information covering the company's fleet of offshore drilling rigs and its two drilling management projects has been updated through today's date. The updated report, titled "Monthly Fleet Update," is available through the company's website at www.prideinternational.com and can be accessed at the Investor Relations link.
Pride International, Inc., headquartered in Houston, Texas, operates a fleet of 25 rigs, including four deepwater drillships, 12 semisubmersible rigs, seven independent leg jackups, and two managed deepwater rigs. The company also has three ultra-deepwater drillships under construction. The company's floating rig fleet operates primarily offshore Brazil and West Africa.
Statements regarding the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects, other out of service time, expected shipyard deliveries, as well as any other statements that are not historical facts in the report are forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in the company's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
Source: Press release

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ROC Announces Drilling Activity Update on Gharabi-1 Expolation

Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that the Maersk Deliverer rig started drilling the Gharabi-1 exploration well at 19:10 hours (Mauritania time) on 7 January 2011.
At 06:00 hours on 9 January (Mauritania time) the well was drilling ahead at a measured depth of 2,418 metres.
Gharabi-1 is located in Block C6, offshore Mauritania, approximately 22 kilometres southwest of the Cormoran-1 discovery. The planned total depth of the well is approximately 4,880 metres and the well is located in a water depth of 1,791 metres.
Participating Interests in Block C6 are:
PC Mauritania I Pty Ltd (Operator) …………….72.58%
Tullow Petroleum (Mauritania) Pty Ltd …………….22.42%
Roc Oil (Mauritania) Company ……………… 5.00%
Source: Press release
Posted on 1/11/2011 / 0 comments / Read More

MEO Australia: Quarterly Activities Summary for Period Ended 31st December 2010

MEO Australia Limited  provides the following summary in relation to its activities for the quarter ended 31st December 2010.
WA-360-P (MEO 25% & Operator, Petrobras 50%, Cue Energy 15%, Moby Oil & Gas 10%)
[Read more]
Source: Offshore Energy Today
Posted on 1/11/2011 / 0 comments / Read More

Blue Energy all systems go at Monslatt after flooding, no damage to infrastructure

Flooding has receeded and work on the Blue Energy Monslatt production pilot wells have recommenced, with the project located around 200 kilometres north-west of Rockhampton.
Most importantly, there has been no damage to infrastructure at the Monslatt 4, 5, 7 and 8 wells.
[Read more]
Source: Proactive Investors

Posted on 1/11/2011 / 0 comments / Read More
 
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