Drillsearch Energy Limited Western Cooper Gas And Liquids Project Update: Canunda 1 Extended Production Testing

Drillsearch Energy Ltd is providing this update on the progress of the Canunda-1 Condensate Discovery extended production test. The PEL 106B joint venture - Drillsearch (50%) and Beach Energy Ltd Canunda-1 extended production test (EPT) will recommence after a...

Posted on 1/05/2011 / 0 comments / Read More

Otto Energy to drill Philippines exploratory oil well

With a drill rig contract in hand, Otto Energy will embark on drilling exploration well Duhat‐1 in the first comprehensive structural test conducted on the island of Leyte in the Philippines. The area is well documented for oil seeps and substantial exploration...

Posted on 1/05/2011 / 0 comments / Read More

ALE Heavylift handles two offshore platform modules

In Tampico, Mexico, ALE Heavylift has lifted and pulled two offshore platform modules. The operation involved three different phases. First, saw the lift of a 1,370 tonne upper module of the 'Generación' Platform up to 19.1 m utilising eight HLS5000 lifting units...

Posted on 1/05/2011 / 0 comments / Read More

STX Pan Ocean explains newbuild financing technique

Korea's STX Pan Ocean is to set up six special purpose companies to finance newbuilding orders already placed. 
The Seoul- and Singapore-listed shipowner said Wednesday in a regulatory filing that the new companies would owe debt to financial institutions, which would be guaranteed by STX to the amount...

Posted on 1/05/2011 / 0 comments / Read More

Anhui will withdraw 4,500 Yangtze vessels by 2014

Shanghai: Anhui provincial government said that within three years of 2011, some 4,500 vessels registered locally will be withdrawn on a compulsory basis as part of the Yangtze River vessel standardisation programme. A total of RMB700m will be used to compensate ship owners, giving an average compensation...

Posted on 1/05/2011 / 0 comments / Read More

More icebreakers operating in Danish waters

Nordane Shipping has chartered out a second icebreaker to the Danish naval command for service in the Limfjord. The icebreaker in question is the Stevns Icebird, which has been stationed in the entrance to the Limfjord, a place where ice traditionally is giving...

Posted on 1/05/2011 / 0 comments / Read More

36 tourists rescued from stricken boat in Palawan

Passengers of motor boat carrying mostly Dutch tourists were rescued and brought to safety after it encountered engine trouble around 15 nautical miles away from El Nido Beach Resort in Palawan last Sunday. [Read More] Source: Manila Bulle...

Posted on 1/05/2011 / 0 comments / Read More

Coast Guard Redefines Cruise Ship Security Zone

The Cruise Ship Security Zone regulation (165.1108) makes it illegal to transit within 100 yards of any cruise ship that is anchored, berthed or under way, without first requesting permission from the Coast Guard captain of the port. Prior to the Dec. 20 change,...

Posted on 1/05/2011 / 0 comments / Read More

Inchcape shipping services awarded global hub contract

Rome-based Eni Trading & Shipping (ETS) has signed up with British marine services company, Inchcape Shipping Services, for a major new global hub agency contract.The global agreement will see ISS undertake hub agency services for Eni involving some 4,500...

Posted on 1/05/2011 / 0 comments / Read More

Seafarers’ shortage a myth!

More and more ship owners and manning agents deny there being any seafarers’ shortage. According to a ship owner, those who continue to harp about it are merely indulging in empty rhetoric; these have evidently mistaken the ‘hull for the rudder’. The successful manning agents say that the business of...

Posted on 1/05/2011 / 0 comments / Read More

SOMALI PIRATES ATTACK AND BOARD UK-FLAGGED SHIP IN FAILED HIJACK

Somali pirates on Monday attacked and boarded a UK-flagged tanker in the North Arabian Sea, but failed to take control of it, the U.S. Navy said on Tuesday. The U.S. Navy said the incident happened at approximately 1.45 p.m. Bahrain time when Combined Maritime...

Posted on 1/05/2011 / 0 comments / Read More

Gulf Keystone proves 'massive' oil find with Shaikan-3 appraisal well in Iraq

Gulf Keystone Petroleum announces the completion of drilling and testing operations on its Shaikan-3 shallow appraisal well in Iraq. This well was designed to drill and test the Cretaceous intervals in the immediate vicinity of the Shaikan-1 discovery well. The...

Posted on 1/05/2011 / 0 comments / Read More

India’s Container Volume Surges 11 Percent

Container throughput at major ports in India for the April-December period surged 11 percent over the same period in fiscal 2009-10, the Indian Ports Association said Wednesday. [Read More] Source: Journal of Comme...

Posted on 1/05/2011 / 0 comments / Read More

Promising Results: Beach Energy completes Cooper Basin well targeting shale gas in South Australia

Beach Energy has completed drilling operations for Encounter-1 (Beach 90%) in Australia's Cooper Basin. This is the first of a two-well, back-to-back exploration program targeting shale gas potential in the South Australian portion of the Nappamerri Trough. A...

Posted on 1/05/2011 / 0 comments / Read More

China COSCO sees significant growth in 2010 results

China COSCO Holdings Co Ltd, the country's top shipping conglomerate, expects to have a significant growth in 2010 results, thanks to the sustained recovery of world economy. [Read More] Source: Reut...

Posted on 1/05/2011 / 0 comments / Read More

Super-Size Ships Challenge Capacity Balance, Report Says

Ship owners and operators are betting their future profitability on super-sized container ships and must delay deliveries of additional vessels to avoid overcapacity and plunging rates,a European shipping bank warns in a research report. Super-post-Panamax container...

Posted on 1/05/2011 / 0 comments / Read More

BP cost-cutting blamed for 'avoidable' Deepwater Horizon oil spill

The oil spill in the Gulf of Mexico was an avoidable disaster caused in part by a series of cost-cutting decisions made by BP and its partners, the White House oil commission said last night. In a preview of its final report, due next week, the national oil spill...

Posted on 1/05/2011 / 0 comments / Read More

BP closes portion of Prudhoe Bay oil field over land rent dispute with Inupiat Eskimo family

BP PLC has closed a small portion of the Prudhoe Bay oil field following a judge's ruling that federal regulators didn't get approval from the land owners. Friday's shutdown of the Raven unit affects less than 1 percent of production from the nation's largest...

Posted on 1/05/2011 / 0 comments / Read More

Maersk Line sees 2011 market fairly balanced

The container shipping arm of A.P. Moller-Maersk Maersk Line, sees a well-balanced market, as global capacity is forecast to grow 9 percent this year, a senior executive said. The Head of Maersk Line's route network, Jorgen Harling, told Reuters in an email that...

Posted on 1/05/2011 / 1 comments / Read More

Supertanker Surplus Increases, Cutting the Chance of a Rally in Hire Rate

A surplus of supertankers competing to load 2 million-barrel cargoes of Middle East crude oil expanded for the first time in four weeks, undermining owners’ efforts to secure better hire rates. There are 15 percent more very large crude carriers, or VLCCs, for hire over the next 30 days than there are...

Posted on 1/05/2011 / 0 comments / Read More

Security tight as Nigerian oil state goes to polls

Thousands of armed police and soldiers have been drafted into Nigeria's oil-producing Delta state for a governorship election on Thursday seen as a litmus test for the conduct of nationwide polls in April. [Read more] Source: Reut...

Posted on 1/05/2011 / 0 comments / Read More

Maersk Oil makes discovery with Carambola-A in the Campos Basin offshore Brazil

Danish producer Maersk Oil has discovered hydrocarbons with exploration well 1-MRK-3/4P-RJS on Block BM-C-37 in the shallow waters of the Campos Basin offshore Brazil.  Spud on November 3, 2010, the Carambola-A discovery well was drilled to a total depth...

Posted on 1/05/2011 / 0 comments / Read More

Canada Will Receive Record LNG Shipments in January, FirstEnergy Says

Canada will receive a record 22 billion cubic feet of liquefied natural gas in January, 69 percent more than the previous high of 13 billion cubic feet, FirstEnergy Capital Corp. said. he increase in shipments comes through a supply contract between Repsol YPF...

Posted on 1/05/2011 / 0 comments / Read More

Iran says S.Pars gas output hits target

Iran said on Wednesday daily natural gas output from the giant South Pars Gas field has reached 240 million cubic metres (mcm), the official IRNA news agency reported. Hossein Nosratzadeh, a spokesman for the state Pars Oil and Gas Co., said the production had...

Posted on 1/05/2011 / 0 comments / Read More

Schlumberger issues $1.6 bln debt

Oilfield services leader Schlumberger Ltd issued debt worth $1.6 billion in a three-part sale, IFR reported. The group came to the market with $500 million of 5-year notes and two tranches of 10-year bonds of $500 million and $600 million, said IFR, a Thomson...

Posted on 1/05/2011 / 0 comments / Read More

Petroneft Declines After Failing to Meet 2010 Oil Output Goal

Petroneft Resources Plc fell the most in more than two months in London trading after failing to meet a 2010 goal for crude output from a field near Tomsk, Russia. The shares fell 5 pence, or 6.8 percent, to 68.5 pence at 8:22 a.m. local time, the biggest intraday drop since Oct. 29. [Read more] Source:...

Posted on 1/05/2011 / 0 comments / Read More

Eni comes up dry with Barents Sea wildcat well

Eni, operator of production licence 489, is in the process of completing the drilling of wildcat well 7120/12-5 in the Barents Sea. This was the first exploration well in the Barents Sea since 2008. The well has been drilled about 115 kilometres northwest of Hammerfest and about 50 kilometres west of...

Posted on 1/05/2011 / 0 comments / Read More

Colombia: Repsol joins Caribbean block group

Repsol Exploracion Colombia will assume a 30% share in the 4 million acre Tayrona exploration block in the Caribbean off Colombia. Petrobras Colombia Ltd., which has 40% interest, will continue as operator. Colombia’s state Ecopetrol SA has 30%. Repsol’s inclusion...

Posted on 1/05/2011 / 0 comments / Read More

CNOOC's Overseas Investment Plans

China National Offshore Oil Corporation, the parent of CNOOC Ltd., plans to invest approximately $151 billion in the next five years to increase production volumes, according to China Business News. The state-controlled oil explorer will mainly invest in offshore...

Posted on 1/05/2011 / 0 comments / Read More

India: Assam-Arakan well tests gas-condensate

Hindustan Oil Exploration Co. Ltd., Mumbai, said the Dirok-2 appraisal well on the 652 sq km AAP-ON-94/1 block in India’s Assam-Arakan basin tested gas-condensate on a drillstem test. The test covered 6 m in one gas-bearing zone out of a total of 150 m net thickness...

Posted on 1/05/2011 / 0 comments / Read More

Container spot rates reach milestone point

After almost six months or 25 straight weeks of falls, container spot rates out of Shanghai managed to put a halt and increase as 2010 came to an end. According to the Shanghai Containerized Freight Index, rates were upwards for all destinations, including the...

Posted on 1/05/2011 / 0 comments / Read More

PetroChina keeps output steady at Daqing, Changqing at record

PetroChina Co Ltd's largest Daqing oilfield produced 40 million tonnes or 800,000 barrels per day (bpd) of crude oil in 2010, the China Petroleum Daily reported on Wednesday. This was the eighth consecutive year China's largest oilfield had maintained output above 800,000 bpd, after pumping more than...

Posted on 1/05/2011 / 0 comments / Read More

Lebanon Asks UN to Monitor Israel's Offshore Drilling for Oil, Natural Gas

Lebanon’s foreign minister urged the United Nations to protect its territorial rights in the Mediterranean, where Israel plans to drill for oil and gas. Ali Shami asked UN Secretary General Ban Ki-moon to ensure that “Israel does not exploit Lebanon’s marine and oil wealth, which lies within its...

Posted on 1/05/2011 / 0 comments / Read More

Rongsheng budgets $450m for 2011

On January 4th, Chen Qiang, Chairman of Jiangsu Rongsheng Heavy Industries Group, said the shipbuilding industry would still be the focus of the group in next two years. [Read More] Source: Asia...

Posted on 1/05/2011 / 0 comments / Read More

JX, PetroVietnam Discover Natural Gas, Condensate in Vietnam Test-Drilling

JX Holdings Inc.’s exploration unit and Vietnam Oil & Gas Group discovered natural gas and condensate while test drilling a block offshore from Vietnam. The companies will continue to evaluate the commercial viability of the block, known as 16-2, JX Nippon Oil and Gas Exploration Corp. said today...

Posted on 1/05/2011 / 0 comments / Read More

Daewoo awaits first FLNG order

Korea's Daewoo Shipbuilding & Marine Engineering is expected soon to sign its first-ever LNG-FPSO newbuilding contract as its subsidiary DSME E&R (exploration and research), Norway’s Hoegh LNG and Papua New Guinea (PNG)-based Petromin has won approval...

Posted on 1/05/2011 / 0 comments / Read More

DRYSHIPS INC. ANNOUNCES SIGNING OF TWO DRILLING CONTRACTS FOR THE OCEAN RIG CORCOVADO AND THE LEIV EIRIKSSON

DryShips Inc., a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its subsidiary Ocean Rig UDW Inc. has entered into firm contracts with Cairn Energy PLC for the “Leiv Eiriksson”...

Posted on 1/05/2011 / 0 comments / Read More

150 ships to be built in Azerbaijan

President of the State Oil Company of Azerbaijan Rovnag Abdullayev noted that in 2010 the results in the sphere of construction were also successful. Abdullayev added that the construction of the shipyard has been launched and the first ships will be commissioned...

Posted on 1/05/2011 / 0 comments / Read More

Gas leak sends 1,300 shipyard workers home

About 1,300 Northrop Grumman Shipbuilding employees were sent home Tuesday after crews found a propylene gas leak at the shipyard, company representatives said. Crews saw the leak while upgrading the facilities and taking some corrective actions following a fire at the yard on Dec. 16, spokesman Bill...

Posted on 1/05/2011 / 0 comments / Read More

Uljanik is Croatia´s star shipyard

The Croatian Prime Minister Jadranka Kosor has visited Uljanik shipyard in Pula (Istria) on the first day of the New Year, giving her support to one of the rare Croatian shipyards that are operating at profit. "Uljanik is the first shipyard in Croatia which the...

Posted on 1/05/2011 / 0 comments / Read More

Statoil Gets PSA Constant to Carry Out Drilling Ops with West Alpha Rig

Statoil Petroleum AS (Statoil) has received consent to carry out drilling and completion on the Alve field and well intervention on the Urd field with the mobile drilling facility West Alpha. [Read more] Source: Offshore Energy To...

Posted on 1/05/2011 / 0 comments / Read More

First step to salvaging Big Blue: remove oil

Guam - A unified command has been established with the U.S. Coast Guard, the Guam Environmental Protection Agency and the Guam Shipyard to manage the recovery of a partially sunken dry dock. Concerns are focused on the safety of responders and mitigate the pollution...

Posted on 1/05/2011 / 0 comments / Read More

Shell Oil Faces Another Setback in Beaufort, Chukchi Seas

Shell Oil is facing another setback in its plans to drill exploratory wells off shore in the Beaufort and Chukchi Seas.  Some Alaska Native and conservation groups have succeeded in challenging the oil company’s clean air permits that would have allowed the...

Posted on 1/05/2011 / 0 comments / Read More

Norwegian TTS lands NOK130m marine equipment orders

Norwegian ship-equipment maker TTS Group ASA (OSL: TTS) said on Tuesday it has won supply contracts totalling NOK130m from shipyards in Japan, South Korea and Romania. TTS has agreed with shipbuilders Hyundai Heavy Industries (SEO: 009540) and Hyundai Mipo Dockyard (SEO: 010620) to supply hydraulic-driven...

Posted on 1/05/2011 / 0 comments / Read More

Hardy Oil and Gas Announces Drilling Update

Hardy Oil and Gas plc, the oil and gas exploration and production company focused in India, today provides an update on the drilling of the KG-D9-B3 well, the second exploratory well on the Company's D9 (KG-DWN-2001/1) exploration licence. The well was drilled...

Posted on 1/05/2011 / 0 comments / Read More

Norway: Barents duster finds reservoir rock

Eni Norge AS, operator of Production License 489 in the Barents Sea off Norway, will plug the 7120/12-5 wildcat as a dry hole even though it encountered rocks of reservoir quality. The well, in 187 m of water 50 km west of Goliat field and 115 km northwest of...

Posted on 1/05/2011 / 0 comments / Read More

Su Shulin and Antonio Brufau discuss future cooperation between Repsol and Sinopec

Repsol Chairman Antonio Brufau and Sinopec Chairman Su Shulin today in Madrid presided over the first joint meeting at the top corporate level between both companies following the agreements reached in Brazil. At the meeting, both chairmen agreed to create working...

Posted on 1/05/2011 / 0 comments / Read More

U.S. to ease requirements on some deepwater projects

The Obama administration on Monday eased new environmental barriers to some oil and gas deepwater projects, but companies will still have to meet stringent regulations before drilling resumes. [Read more] Source: Reut...

Posted on 1/05/2011 / 0 comments / Read More

W&T Offshore Announces 2011 Capital Budget

W&T Offshore, Inc. announced today that its Board of Directors has approved the Company's 2011 Capital Budget of $310 million, excluding the pending acquisition of the Gulf of Mexico producing shelf property under letter of intent with Shell Offshore Inc....

Posted on 1/05/2011 / 0 comments / Read More

BP's former head of drilling picks up £1m golden hello at Petrofac

BP's head of exploration and production at the time of the Gulf of Mexico oil disaster has secured himself a job as a senior director in another oil company – complete with £1m "golden hello". [Read more] Source: The Guard...

Posted on 1/05/2011 / 0 comments / Read More

Desire Petroleum appoints new finance director as search for oil continues

Oil exploration firm Desire Petroleum has appointed a new finance director as it continues to search for oil off the Falklands Islands. Desire (DES) has revealed that Eddie Wisniewski, currently a non-executive director, has been appointed to the role. [Read more] Source:...

Posted on 1/05/2011 / 0 comments / Read More

Kosmos Energy Names John R. Kemp III Chairman, Brian F. Maxted President and CEO

Kosmos Energy announced that John R. Kemp III has been named Chairman, and Brian F. Maxted has been promoted to President and Chief Executive Officer and made a member of the company’s Board of Directors. [Read more] Source: Offshore Energy To...

Posted on 1/05/2011 / 0 comments / Read More

Tap Oil Announces Zola-1 Well Drilling Update

Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia. Location / Proposed Depth The Zola-1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon...

Posted on 1/05/2011 / 0 comments / Read More