Analysts at Douglas Westwood say despite a current pause in commitments to new projects, the capital expenditure (capex) for Floating LNG (FLNG) vessels is expected to amount to US$35.5 billion over 2015-2021. Spending on floating, storage…
The Binh Minh 2 vessel completed a 3146km 2D seismic acquisition program in the Santos-operated SS-11 block, offshore Bangladesh. Block SS-11 covers an area of 4475sq km in the Bay of Bengal over the Bengal Fan. The majority of the block lies in shallow waters of up to 200m…
According to a study published this month by US-based research and marketing company Markets and Markets, the maritime security industry will be worth around US$20 billion by 2019. The major drivers behind the exponential increase of…
Aberdeen-based explorer Faroe Petroleum it to take on its first operated production in the North Sea through a £35million to take over operated stakes in two southern North Sea gas fields from Tullow Oil. Faroe will take a 60% operated stake in the Ketch field and a 53…
The Kanowit FLNG facility is under construction at Daewoo Shipbuilding & Marine Engineering (DSME) in Okpo, South Korea, where first steel was cut in June. Petronas Floating LNG 1 (Labuan) Ltd. signed a US$771million contract for engineering…
Bangladesh English-language newspaper, Dhaka Tribune, reported on 5 August that state-owned Bangladesh Oil & Gas Corp. (Petrobangla) will sign exploration agreements with two international oil companies for three blocks. Petrobangla initially…
Weatherford International officially opened a new strategic base for Asia Pacific operations in Singapore last month to meet increasing demand for services across the region. The four-storey facility brings together the company’s 300-strong…
Regulatory enhancements prompted by the macondo disaster now require operators to submit a worst-case discharge (WCd) scenario report prior to obtaining a drilling permit in US offshore fields. How to model WCd for offshore wells in compliance…
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