Noble Corporation has had an incredibly difficult time since the start of the oil crash, but has made several noticeable improvements recently.
Norwegian geophysical company TGS and Texas-based Schlumberger started working on their new 2D seismic project on the Red Sea, an official source in the Ministry of Petroleum said.
Canadian National Railway is testing the commercial viability of shipping dry pellets of heavy crude by rail, a process it says lessens environmental risk and could unlock offshore markets for the country's energy producers.
The Global Marine Group (GMG), a market leader in offshore engineering services to the telecommunications, renewables and oil & gas industries, announced today the launch of Global Offshore, a new business unit that will deliver trenching and power cable laying services to the oil & gas sector.
Petrogress, Inc. (OTC:PGAS) announces that its Petrogress Int’l, LLC (“PIL”) subsidiary has entered into a Memorandum of Understanding (“MOU”) with EDT Agency Services, Ltd. (“EDT Offshore”) to combine the companies’ operations at the Port of Limassol and additional port facilities in Cyprus. The MOU covers shorebase and offshore support services from the Port of Limassol, as well as future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for a US$300 million industrial and energy harbor. The joint operations will be conducted under PIL’s PG Cypyard & Offshore Terminal Services Ltd. (“PGC”).
The U.S. Department of Energy announced an $18.5 million investment in an R&D consortium that will investigate technical issues related to the installation of wind turbines on the U.S. continental shelf. Industry members of the research group will contribute funding and will benefit from the study’s technological developments. In addition, $2 million will be allocated to DOE’s national laboratories to support the consortium’s activities.
Over $186bn in capital expenditure will be spent over the lifetime of the top 10 offshore gas projects to produce 299 trillion cubic feet (tcf) of natural gas, according to research and consulting firm GlobalData. These 10 projects, selected from 156 upcoming offshore projects globally, will contribute incremental capacity of 15,200 million cubic feet per day (mmcfd) to global gas supply by 2025. Barzan, a planned shallow water field in Qatar, is the largest with anticipated peak production at 5,580 mmcfd in 2030 at an estimated cost of $17bn.
ExxonMobil announced Friday that its successful run of oilfield discoveries offshore Guyana continued in the last quarter with positive results at the Ranger-1 exploration well. Previous finds at the firm's Liza, Payara, Snoek, Liza Deep and Turbot wells are estimated to contain more than 3.2 billion barrels oil equivalent.
Kuwait Oil Company (KOC) in an unprecedented move has floated tenders for offshore oil explorations, reports Al-Anba daily. The daily quoting informed sources explained that contracts are expected to be signed in the second half of 2018 for implementation of the project. He explained the internal tenders committee at KOC went ahead and floated tenders for offshore oil explorations without resorting to the Central Tenders Committee based on specific conditions stipulated in the new Tenders Law.
Spectrum, in partnership with BGP Marine, has started a multi-client 2D seismic survey covering the Austral and Malvinas basins offshore southern Argentina. Through the authorization of the Ministry of Energy and Minerals, the expected survey size is about 14,500 km (9,010 mi) but may vary based on input from participating clients.
While the strategic petroleum sector, including oil and gas, continues to remain outside the new GST indirect tax regime that replaced a 70-year-old system, the industry did manage in 2017 to switch over to a new exploration regime that gives producers marketing and pricing freedom.