A massive fire has broken out on an Austalian oil rig and delayed plans to plug the leak that has been spilling oil into the Timor Sea since August.
The blaze started on Sunday when workers began pumping heavy mud into a leaking well casing. An estimated 400 barrels of oil a day have escaped from the hole since 21 August, threatening marine wildlife over an area ten times the size of London.
Australia's government today promised an investigation, the latest drama in a 10-week saga to plug the hole.
PTTEP Australasia, which operates the oil rig, said no one was injured and nonessential workers were evacuated after the fire broke out on the West Atlas rig and Montara wellhead platform.
Officials had planned to pour more mud into the leak on Monday in the hopes of removing the source of fuel from the fire, which was sending massive plumes of smoke into the sky. But the company said it was mixing 4,000 barrels of heavy mud, and would not be ready to pour it down the well until Tuesday.
On Sunday, PTTEP Australasia chief financial officer Jose Martins said the company doesn't know how the blaze started.
"Presently there are many unanswered questions, including what caused the fire," Martins told reporters in Perth. "Our sole focus now is the safety of all personnel, bringing the fire under control and completing the well kill."
Federal resources minister Martin Ferguson said that once the spill is contained he would launch an official inquiry. "Our requirement is to assess the cause of the accident and any lessons to be learnt, and that could lead to a change in the regulatory environment," he told Australian Broadcasting Corporation radio.
Ferguson later told reporters in Melbourne that if PTTEP was "found to have been at fault with respect to any of their responsibilities, then any potential action will be appropriately considered at the time."
The oil slick from the rig, about 150 miles off Australia's north-west coast, now stretches across thousands of milesof remote ocean. Indonesia said last week that thousands of dead fish and clumps of oil have been found drifting near its coastline.
Prime minister Kevin Rudd said today he was "deeply disturbed" at the latest turn of events on the rig, signalling the government's rising frustration that fixing the spill is taking so long.
"Do I think this is acceptable? No, I don't," Rudd told Fairfax Radio Network. "Are we angry with this company? Yes we are. Are were trying to do everything we can to get this under control? You betcha."
This is an extract from http://www.guardian.co.uk/environment/2009/nov/02/timor-sea-oil-spill-australia
Saturday, November 21, 2009
Number of working U.S. oil rigs jumps to year's highest, Baker Hughes says
Drilling - The number of oil rigs operating in the U.S. this week jumped 8.7 per cent to the highest this year, according to data published by Baker Hughes Inc.
Oil rigs gained 29 to 361, the largest number of rigs added since Nov. 7, 2008, the same week the count peaked at 442, Baker Hughes said Friday on its website. Natural gas rigs declined by six, pulling the overall U.S. oil and gas rig count up 23, or 2.1 per cent, to 1,101, the highest since March.
The number of oil rigs has increased for nine consecutive weeks as futures prices traded near the year's highs. Futures touched a one-year high of $82 US a barrel on Oct. 21 on the New York Mercantile Exchange.
Texas, the state with more oil and gas rigs than any other, added 25 rigs, or 6.1 per cent, to 432.
Natural gas rigs fell by six, or 0.8 per cent, to 728, Baker Hughes said. The count is down 55 per cent from a peak of 1,606 on Sept. 12, 2008.
Gas for December delivery fluctuated, rising 0.3 per cent to $4.373 per million BTU at 2 p.m. on the NYMEX.
Canadian rigs added 30, or 13 per cent, to 263, the highest since March.
This is an extract from Edmonton Journal at http://www.edmontonjournal.com/business/Number+working+rigs+jumps+year+highest+Baker+Hughes+says/2222780/story.html
Oil rigs gained 29 to 361, the largest number of rigs added since Nov. 7, 2008, the same week the count peaked at 442, Baker Hughes said Friday on its website. Natural gas rigs declined by six, pulling the overall U.S. oil and gas rig count up 23, or 2.1 per cent, to 1,101, the highest since March.
The number of oil rigs has increased for nine consecutive weeks as futures prices traded near the year's highs. Futures touched a one-year high of $82 US a barrel on Oct. 21 on the New York Mercantile Exchange.
Texas, the state with more oil and gas rigs than any other, added 25 rigs, or 6.1 per cent, to 432.
Natural gas rigs fell by six, or 0.8 per cent, to 728, Baker Hughes said. The count is down 55 per cent from a peak of 1,606 on Sept. 12, 2008.
Gas for December delivery fluctuated, rising 0.3 per cent to $4.373 per million BTU at 2 p.m. on the NYMEX.
Canadian rigs added 30, or 13 per cent, to 263, the highest since March.
This is an extract from Edmonton Journal at http://www.edmontonjournal.com/business/Number+working+rigs+jumps+year+highest+Baker+Hughes+says/2222780/story.html
Monday, November 9, 2009
Explorers return to rigs to reap rising oil price and buoyant economy
THE number of rigs used by oil and gas explorers in Asia rose for the first time in seven months in October, according to data from the oilfield specialists Baker Hughes. The rise coincided with rising oil prices and signs of growth in global economies.
The Asia-Pacific region used 247 rigs on land and water last month, compared with 244 a year earlier, the first increase since March, Baker Hughes said. It compared with 246 rigs in September.
''Oil prices are strong, and gas prices as a result are higher in Asia,'' said Tony Regan, a consultant at Tri-Zen International in Singapore. ''Lots of activity in Asia is gas related - proving up reserves for liquefied natural gas.''
Crude oil prices in New York have gained about 75 per cent since the start of the year to $78.28 a barrel as investors expected the economy to recover and drive fuel demand.
The S&P 500 has soared 58 per cent from a 12-year low in March after $11.6 trillion in government spending, lending and guarantees returned the US economy to growth following a year of contraction.
Rig use peaked at 265 in June last year, a month before oil prices hit a record $147.27 a barrel. Last month the Asia-Pacific accounted for about 25 per cent of the 983 rigs used worldwide, excluding the US and Canada. The count was 1096 a year earlier, Baker Hughes said, and 986 in September.
There were 2271 rigs operating worldwide at the end of last month, 68 more than in September as the US added drilling equipment, Baker Hughes said. Rig use was 3518 a year earlier. The figure includes offshore and onshore drill sites, excluding those in Iran and onshore in China.
Baker Hughes has published rig counts since 1944. The monthly international count started in 1975.
This is an extract from http://www.theage.com.au/business/explorers-return-to-rigs-to-reap-rising-oil-price-and-buoyant-economy-20091109-i5fl.html
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For Oil & Gas Prices , Oil Price History, Oil Price Research.
The Asia-Pacific region used 247 rigs on land and water last month, compared with 244 a year earlier, the first increase since March, Baker Hughes said. It compared with 246 rigs in September.
''Oil prices are strong, and gas prices as a result are higher in Asia,'' said Tony Regan, a consultant at Tri-Zen International in Singapore. ''Lots of activity in Asia is gas related - proving up reserves for liquefied natural gas.''
Crude oil prices in New York have gained about 75 per cent since the start of the year to $78.28 a barrel as investors expected the economy to recover and drive fuel demand.
The S&P 500 has soared 58 per cent from a 12-year low in March after $11.6 trillion in government spending, lending and guarantees returned the US economy to growth following a year of contraction.
Rig use peaked at 265 in June last year, a month before oil prices hit a record $147.27 a barrel. Last month the Asia-Pacific accounted for about 25 per cent of the 983 rigs used worldwide, excluding the US and Canada. The count was 1096 a year earlier, Baker Hughes said, and 986 in September.
There were 2271 rigs operating worldwide at the end of last month, 68 more than in September as the US added drilling equipment, Baker Hughes said. Rig use was 3518 a year earlier. The figure includes offshore and onshore drill sites, excluding those in Iran and onshore in China.
Baker Hughes has published rig counts since 1944. The monthly international count started in 1975.
This is an extract from http://www.theage.com.au/business/explorers-return-to-rigs-to-reap-rising-oil-price-and-buoyant-economy-20091109-i5fl.html
=========================================
For Oil & Gas Prices , Oil Price History, Oil Price Research.
Yantai Raffles buys jack-up yard
Yantai Raffles Offshore Ltd, a subsidiary of Yantai Raffles Shipyard Limited, has entered into an agreement to purchase a 100% equity interest in Sanlian Longkou shipyard in Shandong, China for a cash consideration of RMB 291Million. Completion of the acquisition is subject to required regulatory approvals.
The shipyard, with an existing land area of more than 400,000 sqm, will be developed as one of the world's largest jack-up rig fabrication yards.
Deputy Chairman Brian Chang said "We are delighted to announce the acquisition of Sanlian Longkou. Through this purchase we can expand our capacity, improve our efficiency and embark on delivering quality products to our customers at a competitive price and on time. Our long term plan is to become the number one supplier of jack-up drilling rigs in the world within the next 3-5 years."
Extract from http://www.marinelog.com/DOCS/NEWSMMIX/2009nov00061.html
The shipyard, with an existing land area of more than 400,000 sqm, will be developed as one of the world's largest jack-up rig fabrication yards.
Deputy Chairman Brian Chang said "We are delighted to announce the acquisition of Sanlian Longkou. Through this purchase we can expand our capacity, improve our efficiency and embark on delivering quality products to our customers at a competitive price and on time. Our long term plan is to become the number one supplier of jack-up drilling rigs in the world within the next 3-5 years."
Extract from http://www.marinelog.com/DOCS/NEWSMMIX/2009nov00061.html
Friday, November 6, 2009
Sembcorp Marine to build new rig yard in Singapore
Sembcorp Marine, the world's number-two builder of offshore oil rigs, will build a new yard in Singapore to meet demand for oil rigs, with the first phase of the project to cost S$750 million ($537 million). Sembcorp Marine has secured a S$300 million term loan and S$400 million revolving credit facilities with various banks to finance the construction of the yard, it said in a statement.
The first phase will be completed four years after work begins next month, it said.
This is an extract from http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINSGC00336020091104
The first phase will be completed four years after work begins next month, it said.
This is an extract from http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINSGC00336020091104
East Timor signals compensation claim over leaking oil rig
East Timor says it will seek compensation from Australia if its waters or shores are polluted by a leaking oil rig.
The West Atlas Rig spewed gas and oil into the Timor Sea for 10 weeks, producing a massive ocean slick before it was finally plugged.
East Timor's president says there are concerns the slick may enter domestic waters... and says if that happens he'll also call on the rig's Thai owners to pay for damages.
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For buying and selling offshore rigs
The West Atlas Rig spewed gas and oil into the Timor Sea for 10 weeks, producing a massive ocean slick before it was finally plugged.
East Timor's president says there are concerns the slick may enter domestic waters... and says if that happens he'll also call on the rig's Thai owners to pay for damages.
-------------------------------
For buying and selling offshore rigs
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