Israel Approves Doubling of Taxes on Oil and Gas Extraction Profits

The Israeli government on Sunday approved a near doubling of the profit tax on gas and oil extracted from its territory, a move of considerable significance in the wake of recent offshore gas discoveries expected to be worth tens of billions of dollars.
The cabinet voted overwhelmingly to accept the recommendations of a government committee to tax energy profits between 52 and 62 percent and to set aside a special fund from the income aimed at a range of public needs.
[Read more]
Source: New York Times

Posted on 1/23/2011 / 0 comments / Read More

Tony Hayward eyes up Glencore role

Tony Hayward is planning to amass a diverse "portfolio" of directorships at companies in the UK and overseas before the summer and is in early stage talks about joining commodities trader Glencore.
It is understood that Mr Hayward, who resigned as chief executive of BP following the Gulf of Mexico oil spill disaster, has held talks with Ivan Glasenberg, Glencore's chief executive, about joining the board as a senior non-executive director.
[Read more]
Source: THe Telegraph

Posted on 1/23/2011 / 0 comments / Read More

Sailor dies, six others go missing after a vessel capsizes off Gujarat coast

A sailor lost his life and over half a dozen crewmembers were reported missing after an Indian survey ship capsized off Pipavav coast in the Gulf of Cambay in Gujarat on Saturday.he vessel had a total of 32 crewmembers onboard, out of which 25 were rescued by a fishing trawler, which was in the vicinity of the mishap.
[Read More]
Source: sify

Posted on 1/23/2011 / 0 comments / Read More

Cranes to salvage capsized ship

In this Jan. 21, 2011 file picture a tanker is capsized in river Rhine near St Goarshausen, western Germany. Three cranes have begun working on salvaging the capsized tanker loaded with sulfuric acid that has been floating in the Rhine River for days. German authorities say two of three cranes needed to begin work on righting and recovering the ship began work on Saturday Jan. 22, 2011. It is expected to take several days, if not weeks, to salvage the tanker. Limited, southbound shipping has been allowed to resume through the bend where the capsized ship is still listing on its side. No acid has leaked. (AP Photo/Dapd/Harald Tittel,File) (Harald Tittel - AP)

Cranes have begun working on salvaging a capsized tanker loaded with sulfuric acid that has been floating in the Rhine River for days.
[Read More]
Source: AP

Posted on 1/23/2011 / 0 comments / Read More

Malaysia navy frees hijacked tanker "MT Bunga Laurel"

The Royal Malaysian Navy said its commandos injured three pirates in a gunbattle and rescued the 23 crew members of the Malaysian-flagged MT Bunga Laurel early Friday, less than two hours after the assailants stormed the vessel with pistols and assault rifles.
[Read More]
Source: Sea News

Posted on 1/23/2011 / 0 comments / Read More

Four Men Killed Following Industrial Accident at Claxton Engineering in Great Yarmouth

Claxton Engineering Services Limited confirms that an accident occurred on Friday afternoon at its premises in North River Road, Great Yarmouth, Norfolk where construction work on a new facility is being carried out by external contractors. The company has said building work was being carried out at their premises by external contractors.
The company are also able to confirm that four men have tragically lost their lives in this incident which is now being investigated by the Norfolk Constabulary and the Health and Safety Executive.
In a statement, the company said: "Everybody at Claxton is deeply saddened by what has occurred... and the company's thoughts and sympathy are with the families of the four men."
Claxton produces wellhead services and subsea risers for jack-up drilling units, as well as other services including decommissioning.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

China Shipping Container Lines Launches Big Container Ship

SHANGHAI, Jan 21, 2011 (SinoCast Daily Business Beat via COMTEX) -- China Shipping Container Lines Co., Ltd. (SHSE: 601866) , one of the container shipping service providers in the country, kicked off the first trip of a ultra large container ship yesterday.
[Read More]
Source: Technews

Posted on 1/23/2011 / 0 comments / Read More

Keppel Corp Unit Wins US$360 Million Order To Build 2 Rigs For Clearwater Capital

Keppel Corp. Ltd. Sunday said its unit Keppel FELS Ltd. has received an order worth US$360 million to build two jack-up oil rigs from Clearwater Capital Partners LLC.
The two rigs are scheduled for delivery in the first two quarters of 2013, Keppel said in a statement to Singapore Exchange, adding that as part of the agreement, Clearwater has options to order another two similar units.
Source: Nasdaq

Posted on 1/23/2011 / 0 comments / Read More

Canadian Natural Has Access to More Area Near Horizon Project in Alberta

Canadian Natural Resources Ltd. has access to most of the once-restricted area at its Horizon oil sands project in northeastern Alberta that was damaged in an explosion and fire Jan. 6.
A stop-work order will remain in effect “for a number of days for the immediate area of the fire and explosion, about a tenth of the size that it was prior,” Barrie Harrison, a spokesman for Alberta Occupational Health and Safety, said in a telephone interview from Alberta.
[Read more]
Source: Bloomberg

Posted on 1/23/2011 / 0 comments / Read More

Keppel secures $462m rig deal

Keppel FELS, a unit of conglomerate Keppel Group, has secured two new contracts worth US$360 million ($462 million) from Clearwater Capital Partners to build KFELS B Class jack-up rigs.
[Read More]
Source: Today Online

Posted on 1/23/2011 / 0 comments / Read More

Stena Bulk bulks up in MR products tanker sector

Stena Bulk is bulking up in the MR segment (Medium Range product tankers of 50,000 dwt). It is acquiring 50 percent of the Danish shipping company Weco. The move doubles the Stena Bulk fleet in this segment from 15 to 30 tankers. Now its objective over the next couple of years is to build up an operation with upwards of 50 vessels under the new brand name of Stena Weco.
[Read More]
Source: Marine Log

Posted on 1/23/2011 / 0 comments / Read More

Offshore Rig Count: Utilization slightly down this week

The global supply of offshore drilling rigs is unchanged this week at 790 units. However, the number of rigs under contract fell by one to 571, reducing the worldwide utilization rate slightly to 72.3 percent. 
In the US Gulf of Mexico, the fleet count grew by five units, as five jackups that had previously been working in Mexico were mobilized to the US Gulf. Out of 131 mobile offshore drilling units, 61 are under contract, giving a regional utilization rate of 46.6 percent. The South American rig count is unchanged yet again this week. With 97 out of 123 offshore rigs under contract, utilization stands at 78.9 percent. 
The number of offshore rigs in European waters and the Mediterranean Sea remains at 116, while the number of rigs under contract fell by one this week to 92. The resulting utilization rate is 79.3 percent. The fleet count in West Africa is unchanged from last week. With 46 out of 64 mobile offshore drilling units under contract, the utilization rate is 71.9 percent. 
In the Middle East, the fleet count decreased by one from last week to 118. The number of rigs under contract also fell by one, now totaling 89. Utilization is down slightly at 75.4 percent. In the Asia/Australia market, the number of offshore rigs fell by one, and the number of rigs under contract fell by two. With 106 out of 141 mobile offshore drilling units under contract, utilization is 75.2 percent.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

EU force says piracy raids endanger hostages

Despite successful raids by Malaysian and South Korean navies that rescued two ships and their crew members from Somali pirates, the European Union Naval Force said it would not follow suit because such raids could further endanger hostages.
[Read More]
Source: AP

Posted on 1/23/2011 / 0 comments / Read More

Schlumberger Profit Rises; Next Quarter May Be Lower

Schlumberger Ltd., the world’s largest oilfield services provider, said fourth-quarter profit rose 31 percent as surging crude prices drove a drilling boom in North America. The company’s shares fell after the chief executive officer said next quarter’s earnings may be lower.
Net income rose to $1.04 billion, or 76 cents a share, from $795 million, or 65 cents, a year earlier, Schlumberger said in a statement today. 
[Read more]
Source: Bloomberg

Posted on 1/23/2011 / 0 comments / Read More

Drydocks World secures $200m in loans for operations

Drydocks World, the ship repair business owned by Dubai World, has secured US$200 million (Dh734.5m) in loans to cover working capital over the next three months.
The agreement, announced by WAM, the state news agency, has been signed with seven of Drydocks World's existing creditors and is on a secured basis.
The announcement also confirmed the company was in talks with creditors to restructure the rest of its liabilities.
[Read More]
Source: The National

Posted on 1/23/2011 / 0 comments / Read More

Yang Ming Marine Plans to Build Mega Container Ship Fleet

In tandem with the inauguration of the sixth container terminal of Kaohsiung Harbor, Yang Ming Marine Transport Corp. will build six to nine 12,600-TEU (twenty-foot equivalent unit) container ships at a cost of over NT$20 billion, reported Frank F.H. Lu, chairman of the company.
[Read More]
Source: Asia Today

Posted on 1/23/2011 / 0 comments / Read More

Russia to back TAPI gas pipeline project in Central Asia

Russia will cooperate in a range of energy projects including the construction of the Trans-Afghanistan (TAPI) pipeline, Russian President Dmitry Medvedev and his Afghan counterpart Hamid Karzai said in a joint statement on Friday.
The pipeline project participants Turkmenistan, Afghanistan, Pakistan and India, signed a final agreement in December 2010 to build the TAPI gas pipeline to pump gas to India from Central Asian states.
[Read more]
Source: Ria Novosti

Posted on 1/23/2011 / 0 comments / Read More

Why the Collapse in the Baltic Dry Index?

The floods in Queensland, Australia, are taking more than a human toll, tragic as that is.
Consumers in Asia will have to pay higher prices for coking coal as the floods could remove some 14 million tons of coking coal from world markets out of a forecast annual seaborne volume of 259 million tons in 2011 – some 5 percent of global supply, a Reuters article reports. More than half the world’s metallurgical coal exports come from Australia and roughly 90 percent of that comes from Queensland, mostly the Bowen Basin.
[Read More]
Source: MetalMine

Posted on 1/23/2011 / 0 comments / Read More

Slowdown in Asian exports seen to damp commodity shipping

Asian exports that helped power the world recovery last year are poised to grow more slowly as the region’s manufacturing rebound eases and US unemployment restrains consumption after a post-recession spending spree.
[Read More]
Source: Manila Bulletin

Posted on 1/23/2011 / 0 comments / Read More

Environmentally Hazardous Bulk Cargoes and the IMSBC Code

The BIMCO Marine Department has received some enquiries regarding mineral concentrates and metal sulphide concentrates in the International Maritime Solid Bulk Cargoes (IMSBC) Code. The enquiries centered on whether these cargoes are considered environmentally hazardous substances (EHS) and thus should be IMO-classed 9 (i.e. miscellaneous hazardous substances that are not classifed elswhere in the IMDG Code) and having UN 3077 listing.
[Read More]
Source: Bimco

Posted on 1/23/2011 / 0 comments / Read More

Persian Gulf Tanker Rates End Four-Day Climb on Surplus Ships

The cost of delivering Middle East crude to Asia, the world’s busiest route for supertankers, ended a four-day climb because of a surplus of ships for hire.
[Read More]
Source: Bloomberg

Posted on 1/23/2011 / 0 comments / Read More

Dry bulk market’s downturn sees no relief

The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79% this past week, to reach 1,370 points, thus falling below the 1,400-point mark and reaching its lowest level since early February of 2009. Since the beginning of New Year the BDI has plunged by 17.7% and is down by 56% from January 2010. As it turns out, the panamax segment suffered the most this week, while Supramaxes and Handysizes reversed their falls and turned positive.
[Read More]
Source: Hellenic Shipping News

Posted on 1/23/2011 / 0 comments / Read More

American Petro-Hunter announces 20% increase in oil production at Poston Project, Kansas

American Petro-Hunter, Inc. is pleased to update the status of the Company's Poston Project, Trego County Kansas.
Oil production from the #1 and #3 Lutters Wells totaled 830 barrels shipped and sold to N.C.R.A. for a value of $65,577 in December. This represents an approximate 20% increase over November production sales despite cold weather conditions at the lease. The oil tanks were fitted with heated gun barrels last winter which allows uninterrupted daily production. Kansas Common oil prices are currently in the $79 range.
Robert McIntosh, President and C.E.O., states, "We are very pleased to achieve December's 20% increase in oil production at Poston. Currently, the Company and our working interest partners are developing a timetable to fully develop this lease by drilling direct offset wells to the 2 current producers during the spring of 2011 as the weather conditions improve."
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas and the North Oklahoma Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

CSC's largest ship makes maiden voyage to Europe

China Shipping Co (CSC) launched a maiden voyage for its largest ship at Yangshan Port on Thursday. The ship can carry 14,100 twenty equivalent-unit (TEU) containers.
The ship, named CSCL Star, was built by South Korea's Samsung Heavy Industries Shipyard and was put into operation on the Europe route, said Zhang Guofa, vice president of CSC.
[Read More]
Source: China Daily

Posted on 1/23/2011 / 0 comments / Read More

GE Revenue at $41.4B; Up First Time in 2 Years

General Electric Co. said Friday its fourth-quarter net income increased 52 percent as the company made more money on both the industrial and lending sides of its business. 

The lending arm, GE Capital, suffered huge writedowns on risky loans during the financial crisis, so GE has been focusing on its industrial businesses. Industrial sales rose during the fourth quarter and orders for equipment, an indication of future business, were up 20 percent. 

[Read more]

Source: CBN News

Posted on 1/23/2011 / 0 comments / Read More

Krasnoyarsk shipyard to build bunker ship for Norilsk Nickel

OJSC Krasnoyarsk Shipyard was awarded a RUB 400m order (USD 13,368m) for a fuel bunkering vessel from MMC Norilsk Nickel. Today, January 20, 2011 the shipbuilder started the construction of the vessel of capacity of 1,110 tons, Norilsk Nickel press release said.
[Read More]
Source: Port News

Posted on 1/23/2011 / 0 comments / Read More

Hyundai in sole lead

Korea's Hyundai Heavy Industries is said to have signed another new order contract with German shipowner D Oltmann to build two 4,500-teu containerships plus one optional ships in late 2010.
And it consecutively won three drillships plus three optional ships in the beginning of the year.
[Read More]
Source: Asiasis

Posted on 1/23/2011 / 0 comments / Read More

Eni, Petrochina ink global upstream agreement focusing on shale development

Eni signed a Memorandum of Understanding with CNPC/Petrochina, the biggest listed national oil company in the world. The Memorandum of Understanding sanctions a broad spectrum of possible business opportunities to the benefit of both parties in China and internationally. 
In particular, the companies will study common opportunities to jointly expand their operations in conventional and unconventional hydrocarbons in Africa. Furthermore, Petrochina will evaluate the potential acquisition of a participation in certain assets owned by Eni. On its part, Eni will avail its expertise on shale gas gained in North America to evaluate opportunities in unconventional resources owned by Petrochina in China. 
The parties will also cooperate in the field of advanced technology, with a special focus on the exploitation of unconventional oil and gas resources which may also be jointly developed and applied in one or more of the initiatives covered by this agreement. 
This memorandum represents a step forward in Eni’s strategy to strengthen its presence in the Far East, a very prospective and attractive region in terms of upstream opportunities and a favorable market. 
Eni has been present in China since 1984. Eni China is joint operator in the CACT Consortium together with CNOOC and Chevron in the Chinese South Sea with an equity daily production of 12,000 boed. Moreover, Eni China is engaged, as operator, in an exploration campaign offshore South China.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

Samsung develops anti-piracy system

Samsung Heavy Industries Co., South Korea's third-largest shipbuilder, said Sunday it has developed an anti-piracy solution system that can track down and repel nearby pirate ships.
[Read More]
Source: Koreatimes
http://www.koreatimes.co.kr/www/news/biz/2011/01/123_80139.html

Posted on 1/23/2011 / 0 comments / Read More

Statoil: Plan submitted for Visund South

21 January, the licensees in Visund South submitted a plan for development and operation (PDO) to the Ministry of Petroleum and Energy. Production start-up is scheduled for the third quarter of 2012.
Visund South, which consists of the Pan and Pandora discoveries, is located 10 kilometres from both Gullfaks C and the Visund A platform, and will be developed with a subsea installation.
The installation will consist of a subsea template with four well slots, where three wells will be drilled and tied in to Gullfaks C for processing.
The total investment for the development amounts to 5.6 billion 2011 NOK. Transport and export will take place via Gullfaks C's export system.
The volumes on Visund South are estimated at approx. 67 million barrels of oil equivalents and the discovery is characterised as medium-sized. The discovery of oil and gas was made in 2008/2009 in 290 metres of water and 2900 metres below the seabed.
"Due to the risk of the pressure dropping on Visund South resulting in a potential loss of reserves, a rapid development of the field is necessary", says project manager Hogne Pedersen.
Visund South is the first in Statoil's portfolio of fast track developments. In just one year, the project has matured from an opportunity to an investment decision and PDO.
"Most likely, 2011 will be a breakthrough year for fast track developments on the Norwegian shelf. The fact that we have already submitted a PDO for Visund South shows that we are on the right path. There is therefore every reason to congratulate the project team on their efforts", says Executive Vice President Øystein Michelsen.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

Valiant Petroleum plc: Don Southwest 'E' Panel Discovery

Valiant Petroleum plc ("Valiant") is pleased to announce that its Don Southwest 'E' Panel exploration well (211/18a-S7) has reached total depth of 11,540 TVDSS feet (3,517 metres) and has encountered a hydrocarbon bearing Brent sand formation indicating a gross recoverable accumulation of 5-7 million barrels of oil (2-3 million barrels of oil net to Valiant). The well will now be suspended as a future production well which is anticipated to be brought on-stream in the second half of 2011, representing incremental volumes on current 2011 production guidance.
Following its success on the 'E' Panel, the field partners have decided to drill a low cost pilot-hole into Area 26 to appraise the commerciality of the 211/18a-26 discovery originally drilled in 2007. Following completion of the Area 26 well, drilling will commence on the Don Southwest Area 6 development which is anticipated to come on-stream during the summer of 2011.
Average production rates net to Valiant for 2010 were in excess of 7,400 barrels of oil per day representing the upper end of production guidance and current production rates, oil prices and operating cash flow are running ahead of internal forecasts.
Peter Buchanan, CEO, commented:
"We are pleased to announce the discovery of the Don Southwest 'E' Panel, the first exploration well of our 2011 drilling campaign. This result confirms our long-held belief that the Don Area contains upside potential which can be rapidly commercialised through the existing infrastructure. We look forward to working together with our partners in the Don Area to prove-up further volumes in 2011 and beyond."
In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Phil Crookall, Technical Director, who has over 20 years relevant experience within the sector.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

Successful Launch Ceremony for TSHD CONGO RIVER (The Netherlands)

The launch ceremony for the 30,000m³ trailing suction hopper dredger CONGO RIVER took place on 21 January 2011 at the IHC Merwede shipyard in Krimpen aan den IJssel, The Netherlands. IHC Merwede is building the impressive ship for the DEME Group and the CONGO RIVER is one of the largest ships in the fleet.
[Read More]
Source: Dredging Today

Posted on 1/23/2011 / 0 comments / Read More

Croatia: New tender for major shipyards on May 3 2011

Croatia said on Thursday a bid for one of its major shipyards had been abandoned, a step which might slow down the pace of European Union entry talks, in which the cutting of subsidies to ailing docks is a key demand.
[Read More]
Source: Balkans.com

Posted on 1/23/2011 / 0 comments / Read More

China aims to make more waves

There are vast cranes moving back and forth, a cacophony of hammering, welding and drilling, and a brisk pace of activity that no doubt helps the workers keep warm in the bitter cold of winter.
Here at the China Shipbuilding Indhttp://www.thenational.ae/thenationalconversation/industry-insights/economics/china-aims-to-make-more-wavesustry Corporation (CSIC) yard in Tanggu, a coastal town an hour by fast train from Beijing, the BBC Fuji is taking shape.

[Read More]
Source: The National

Posted on 1/23/2011 / 0 comments / Read More

VENEZUELA Claims 297 Billion Barrels of Proven Oil Reserves

“At the end of 2010, we had a level of 217 billion barrels of oil, and now, at the start of this year, we are in a position to certify 297 billion barrels,” says Venezuela Energy and Petroleum Minister Rafael Ramirez, meaning that the South American nation would now have more oil than the 265 billion of world leader Saudi Arabia.
[Read more]
Source: Latine American Herald Tribune

Posted on 1/23/2011 / 0 comments / Read More

Fugro, IPEX Win Deepwater Drop Coring Project in Brazil

Fugro Brasil, along with consortium partner IPEX, has recently been awarded a deep water drop coring project by the ANP (National Oil & Gas Agency) for the Ceará Basin development plan in the north-east of Brazil, in order to increase knowledge of the equatorial margin basins.
[Read more]
Source: Offshore Energy Today

Posted on 1/23/2011 / 0 comments / Read More

Brent oil, gas platforms shut for weeks-Shell

Four North Sea Brent oil and gas platforms, which shut down on Saturday, are expected to remain closed for several weeks, a spokeswoman for operator Shell said on Friday.
"Works are progressing on Brent Bravo, they are expected to take several weeks. Production remains halted at platforms A, B, C, D," a spokeswoman said.
[Read more]
Source: Reuters

Posted on 1/23/2011 / 0 comments / Read More

Wod Mac Report Highlights Increased UK Expenditure in 2011

Wood Mackenzie's latest analysis of the UK upstream oil and gas industry finds that the steady recovery seen in 2010 will continue in 2011. Returning confidence will see capital investment nearly double from £4.4 billion in 2010 to £7.7 billion in 2011, leading to a temporary halt in the UK's historic decline in oil and gas production. Furthermore, improved economic confidence and the expectation of a stable, high oil price will lead to a rise in exploration and appraisal (E&A) drilling activity in the UK.
Wood Mackenzie's annual review of 2010 shows that last year, the UK upstream industry continued the slow recovery that began in late 2009. Lead Analyst for the UK upstream research team, Ms. Lindsay Wexelstein explains; 'Looking at the last year, industry confidence was reflected by the success of the 26th Licensing Round, an increase in deal activity and a rise in the number of projects put forward for approval. The returning confidence was also evident in exploration, where drilling was up by 28% with 37 wells spudded, but it was still a long way short of the 56 wells spudded in 2008'
'For 2011, we expect exploration and appraisal drilling to increase as companies' more positive economic outlooks become reflected in their drilling schedules. The UK remains an attractive province and material discoveries are still being made,' Wexelstein asserts.
Despite an increase in drilling activity in 2010, the volume of reserves discovered dropped by 67 million barrels of oil equivalent (mmboe) to 233 mmboe, compared to 2009. Appraisal drilling also dropped by a third - with only 33 wells drilled - as companies shifted their focus back to exploration. Wood Mackenzie notes that key finds in 2010 include the Encore-operated Catcher and the Total-operated Edradour fields.
The review also covers corporate activity and the asset market, as Wexelstein offers; 'Over US$7.3 billion of assets were traded in the most active UK deal market since 2006, with the takeover of Dana Petroleum by the Korea National Oil Corporation (KNOC), accounting for almost half of the total value exchanged. Our analysis shows that growth assets continued to attract buyers throughout the year whereas the slow down in the mature asset market continued.'
'We do not expect a significant shift in the asset market in 2011, meaning deal activity levels are likely to remain at similar volumes to 2010,' Wexelstein says.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

'K'Line Offshore: PSV KL Brisfjord delivered

For some days in early January three newbuildings for K Line Offshore AS were berthed at STX Brevik-yard. On 13th January KL Brisfjord was successfully delivered.

The vessel has a deadweight of 5.185 T and cargo deck area of 1.100 m2. KL Brisfjord is flying NOR-flag and is currently in Bergen for trading in the spot-market.

Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

India: ONGC detects oil leak on subsea pipeline offshore Mumbai

India's Oil and Natural Gas Corp. (ONGC) leakage has been detected at ONGC’s Mumbai Uran Trunk (MUT) offshore India oil pipeline at 8:45 this morning.
The oil leak was observed 2 kilometers from the BPB platform on the Bassein oil and gas field offshore western India, about 80 kilometers from the coast of Mumbai.
The Regional Contingency Plan, which is the existing emergency response measure, has been activated immediately on detection of the oil leak. FODAG (Flag Officer Defence Advisory Group) and Coast Guard have been informed. The National Oil Spill Disaster Contingency Plan is also being activated by the Coast Guard to ensure minimum damage to the environment.
ONGC has mobilized the pipeline repair vessel including three multi-support vessels to the site to ascertain the extent of leakage for containment and repair.
The initial assessment of extent of oil spill is about one mile long. The oil and gas production from Mumbai High is being diverted to the ICP-Heera Uran Trunk (HUT) pipeline. Connected oil and gas wells are being closed for safety reasons.
The production loss may last for about three hours only. Due to these interim measures, a loss of 25,000 barrels is anticipated. The Mumbai Uran Trunk oil pipeline currently pumps 212,000 bopd.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

Maersk Oil awarded Avaldsnes licence in Norway

Maersk Oil announces it has been awarded a licence in the Norwegian North Sea as a result of the latest APA Licensing Round.
The licence is a geographical extension of Licence PL501, where operator Lundin and partners Statoil and Maersk Oil made the recent Avaldsnes discovery, into blocks 16/3 and 16/6. The licence holding structure remains the same in this extension; Lundin with 40%, Statoil with 40% and Maersk Oil with 20%.
“We are very pleased with this latest licence award as it helps us to take forward the Avaldsnes discovery, and reiterates our long-term commitment to Norway,” said Maersk Oil Norway Managing Director Morten Jeppesen.
“Our strategy is to grow our business in Norway through exploration activities, participation in licensing rounds and asset acquisitions to build a significant portfolio of exploration and producing assets in the coming years,” Jeppesen said.
The award of the extension helps the licensees to evaluate Avaldsnes and maintain alignment over the wider Avaldsnes area. Two appraisal wells will be drilled by the partnership in 2011.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

Egyptian oil worker kidnapped from Nigerian vessel

Gunmen have kidnapped an Egyptian oil services worker from a Nigerian vessel contracted by Italian energy firm Agip off the coast of the Niger Delta, the company which owns the vessel said on Friday.
[Read more]
Source: Reuters

Posted on 1/23/2011 / 0 comments / Read More

Nord Stream AG: Constructive Dialogue to Continue

The status of the Nord Stream Pipeline construction and the considerations of the Szczecin and Swinoujscie Seaports Authority regarding deepening and expanding the ports and its approaches were the focal point of a meeting between Nord Stream representatives and a delegation of the Seaports Authority, on January 10. The meeting featured extensive discussions of the degree to which the laid pipeline could hinder the approach of ships with a 15 meter draught. At present, the consensus is that shipping traffic to the Polish ports will not be hampered for ships with a draught of up to 13.5 metres. The concerns of the Szczecin and Swinoujscie Seaports Authority centre on possible future developments.
The parties have agreed to form a working group to prepare for the possibility that the Szczecin and Swinoujscie Seaports Authority might opt to deepen their ports and its approaches in order to accommodate ships with a draught of up to 15 meters. The group will begin its work at the beginning of February 2011.
The working group has the objective of defining the parameters and processes that will be required in order to ensure unimpeded access to the Szczecin and Swinoujscie ports in advance of a possible deepening of the ports and its approaches. This might include the possibility of laying the Nord Stream Pipeline deeper.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

Woodside Petroleum revenue jumps despite fall in output

WOODSIDE Petroleum has reported a 20 per cent gain in full-year revenue as rising oil and gas prices, and the renegotiation of North West Shelf liquefied natural gas contracts, offset a drop in production.
In its fourth-quarter report yesterday, Woodside logged $US1.058 billion ($1.055bn) of sales, in line with expectations and just up on the previous quarter's $US1.033bn. Full-year revenue was $US4.193bn, up from $US3.487bn in 2009, despite a 10 per cent drop in full-year sales volumes to 72.7 million barrels of oil equivalent.
[Read more]
Source: The Australian

Posted on 1/23/2011 / 0 comments / Read More

Aker Drilling selects advisers for IPO

Further to yesterday’s announcement of the contemplated initial public offering (IPO) of Aker Drilling, the company wishes to inform that Arctic Securities, DnB NOR Markets, Pareto Securities and RS Platou Markets have been retained as financial advisors and facilitators of the IPO on Oslo Stock Exchange.
[Read more]
Source: Offshore Energy Today

Posted on 1/23/2011 / 0 comments / Read More

Schilling Robotics Expands into Asia-Pacific and South America Regions

Schilling Robotics, LLC, experts in subsea systems, announced today that it has formally opened a new support center in Singapore, and has commenced construction of another support center in Brazil which will open in April 2011. This international expansion of Schilling's product support services into key offshore oil and gas regions will provide customers with the ROV industry's most comprehensive support available on a global basis. 
The support centers in both Singapore and Brazil will be in partnership with FMC Technologies and will be located in FMC facilities. The support centers will be staffed by comprehensive teams of local personnel who have all been trained by Schilling. The level of service will be comparable to Schilling's existing Gulf of Mexico and North Sea Regional Offices, offering dedicated, local personnel, spares inventory, product repairs, and technical training. Each support facility will carry approximately $1 million of spare parts inventory to ensure efficient service to customers. 
'These expansions demonstrate Schilling Robotics' commitment to global support for our customers,' said Tyler Schilling, CEO, Schilling Robotics. 'Our partnership with FMC Technologies has enabled us to expand rapidly into regions that require a comprehensive local presence, and provide our customers with the best support available in this industry.' 
The Singapore facility has already started taking customer orders and will be providing technical support, including onsite repair of all Schilling manipulator systems. The support facility in Macaé, Brazil will be a custom designed 3,000 square foot (914 square meters) building, and local employees are currently being trained to staff this facility when it formally opens in the second quarter of 2011. Once complete, Schilling's customers operating in any of the world's major offshore locations will benefit from the reassurance and convenience of being able to obtain comprehensive product support from dedicated Schilling personnel.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More

CHANGE IN MHB BOARDROOM

Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) has appointed Mr Dominique de Soras as a Non-Independent Executive Director and also the new Managing Director and Chief Executive Officer with effect from 1 February 2011.  He will replace En. Wan Yusoff bin Wan Hamat who will be resigning from MHB to take up a new appointment within the Petroliam Nasional Berhad group (PETRONAS), heading a major project development in Malaysia.
Mr Dominique de Soras who had been Technip’s President of Subsea Division since 2007 is currently an Executive Committee member of Technip, the strategic investor of MHB that holds 8% of MHB’s issued share capital. The appointment was approved by the Board in view of Mr Dominique de Soras's technical credentials and extensive experience in the oil and gas industry, and to further support the collaboration between MHB and Technip.
MHB also appointed Technip President and Chief Operating Officer, Bernard Rene Francois di Tullio as Audit Committee member and Yong Nyan Choi @ Yong Guan Choi as both Independent Non-Executive Director and Audit Committee member.
Source: Press release

Posted on 1/23/2011 / 0 comments / Read More