Posted: April 19, 2013
From Offshoretechnology.com 19/04/2013
“Europa has signed a farm-in agreement with a subsidiary of Kosmos Energy to acquire its two Licencing Options, LO 11/7 and LO 11/8, in the South Porcupine Basin, offshore of Ireland.
As part of the deal, Kosmos will buy an 85% interest and take up the operatorship of both licences, alongside incurring 100% of the costs of the first exploration well on each block.
The company will also fully fund the cost of a 3D seismic programme on each licence and pay 85% of the costs incurred by Europa to date.
The first exploration wells on LO 11/7 and LO 11/8 have investment caps of $90m and $110m, respectively, while Kosmos will share 85% of the excess costs of the investment cap, with the remaining coming from Europa.
Both LO 11/7 and LO 11/8 cover an area of about 1,000km² each in the prospective South Porcupine basin, while the licences have been mapped using existing 2D seismic data and are currently undrilled.
“The company will also fully fund the cost of a 3D seismic programme on each licence and pay 85% of the costs incurred by Europa.”
Europa has identified two previously unknown prospects in the Lower Cretaceous stratigraphic play – Mullen in LO 11/7 and Kiernan in LO 11/8.
Europa CEO, Hugh Mackay, said Kosmos is an experienced operator in frontier basins and pioneered the Cretaceous stratigraphic play that lead to a major exploration success in the Atlantic margin basins.
“The farm-in provides recognition of the substantial potential value lying in our Irish exploration prospects. The work programme associated with the farm-in has the potential to deliver significant value realisation,” Mackay added.
“Europa’s retained 15% interest exposes the company to substantial upside in the event of drilling success at either or both of these prospects at a much reduced risk and cost to our shareholders.
“We understand that the Eirik Raude rig is in Irish waters to drill Exxon‘s Dunquin well. An exciting new chapter in the exploration of Ireland is starting and we are delighted to be part of it.”
The closing of the farm-in agreement is subject to approval from the Irish Government.”
http://www.offshore-technology.com/news/newseuropa-exploration-south-porcupine-basin-ireland?WT.mc_id=DN_News
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Posted: April 12, 2013
Pictured at the signing of a Memorandum of Understanding between Tawazun Safety Security & Disaster Management City L.L.C. and the National Maritime College of Ireland are Mr. Michael Delaney, Acting Head of College, NMCI and Mr. Khaleefa Al Hemairi, Acting General Manager, Tawazun.
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Posted: April 4, 2013
Tuesday 04/04/2013
“AN EXPLORATION COMPANY with rights to explore an area off the west coast of Co Kerry claims the field has shown the potential to hold hundreds of millions of barrels worth of oil.
Petrel Resources says the site in ‘Quad 45′, about 100 kilometres to the west of Valentia Island, has “the capability to hold several hundred million barrels of in-place oil”.
The site was authorised for exploration in 2011, when 13 various sites in the Porcupine Basin off the west coast were offered for new ventures.
Petrel was offered two of those sites; the other site in ‘Quad 35′, about 120 kilometres west of the Dingle peninsula, showed the capability of hosting in excess of a billion barrels of oil.
Quad 45 lies about 35 kilometres northeast of an area in the Dunquin prospect, which is already the focus of a major prospective drilling operation from a consortium led by Exxon Mobil.
Petrel said it had purchased additional seismic data of the area and has carried out further regional seismic mapping.
“We have long believed that the offshore Porcupine Basin is a hydrocarbon province,” Petrel managing director David Horgan said in a media release.
“This has been further supported by our recent work in identifying potential prospects on both of our blocks.
“We look forward to increased activities across the Basin which we believe has the potential to be a major new oil province. We have commenced our search for potential partners.”
Shares in Petrel rose by over 10 per cent in early trading in London this morning.”
Extract from thejournal.ie
http://businessetc.thejournal.ie/oil-porcupine-basin-kerry-petrel-853171-Apr2013/
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Posted: April 2, 2013
Extract from Independent.ie Tuesday April 2nd
By John Mulligan
“Oil giant ExxonMobil kicks off a $160m-plus (€125m) drilling programme off the west coast of Ireland this weekend with hopes that confirmation of major fossil fuel reserves will transform the country’s economy.
The US company is planning to drill test wells over a four-month period at two prospects at the Dunquin licence area in the Porcupine Basin, 200km off shore.
Previous data has suggested that there could be over 300 million barrels of oil and 8.5 trillion cubic feet of gas between the two Dunquin prospects.
If they could be proven and then extracted, such finds would mark one of the biggest ever global discoveries of oil and gas and be a game-changer for Ireland’s economic fortunes.
Hidden
But despite the 200 or so wells drilled off Ireland’s shores in the past number of decades, only two have resulted in commercial fields – Kinsale and Corrib.
Both are minnows compared to the prospective resources that could be hidden at Dunquin. Kinsale had about 1.5 trillion cubic feet of gas, while Corrib has about one trillion.
Located at a point in the Atlantic where the ocean is 1.6km deep, ExxonMobil’s drilling programme is being eagerly watched by oil companies from abroad and Ireland, including Petrel Resources, which has an exploration block just 35km away from the Dunquin prospect.
ExxonMobil controls 27.5pc of the Dunquin prospect, with Italian firm Eni holding another 27.5pc.
Spanish energy firm Repsol owns 25pc and UK-based Sosina has a 4pc interest. Irish exploration firm Providence Resources has a 16pc interest in the prospect. A major oil or gas find could catapult its shares higher.
The Dunquin prospect – where the reserves are as deep as 3.6km under the seabed – is one of the most important exploration areas for Providence, which is headed by Tony O’Reilly Jnr.
Providence is also betting that it could have a major oil find on its hands at a site called Barryroe, which is close to the Kinsale field. The company reckons that there could be 280 million barrels of recoverable oil at the Barryroe prospect.”
http://www.independent.ie/business/irish/oil-giant-exxon-starts-160m-drilling-project-off-west-coast-29163728.html
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Posted: March 27, 2013
TRACE certification sends strong message for GAC Egypt
Underlines commitment to ethical business practice
Gulf Agency Company (Egypt) Ltd is the latest GAC company to become a member of anti-bribery body TRACE International, underlining its strong commitment to ethical corporate conduct.
“TRACE International, Inc. is a non-profit group that offers practical and cost-effective anti-bribery compliance solutions for multinational companies which are required to demonstrate transparent business practices regardless of pressure, local law or custom.
GAC Egypt’s certification comes after a stringent due diligence review of every aspect of its operations and key managers, highlighting the company as a beacon of compliance and stability.
The GAC Egypt Management Team with their TRACE certificate
Managing Director Capt. Mohammed Badawi (pictured, holding the certificate) says: “TRACE certification is yet another recognition of our integrity, a reflection of our transparency as well as an endorsement to our Code of Ethics.”
About GAC Group
GAC is a global provider of integrated shipping, logistics and marine services. Emphasising world-class performance, a long-term approach, innovation, ethics and a strong human touch, GAC delivers a flexible and value-adding portfolio to help customers achieve their strategic goals.
Established since 1956, GAC employs over 10,000 people in more than 300 offices worldwide.
Sign up for GAC’s free HOT PORT NEWS email for daily updates from ports around the world and RED HOT PORT NEWS for free SMS alerts of breaking news at www.gac.com/hpn.
Follow GAC Group on Facebook at www.facebook.com/GACGroup and LinkedIn at www.linkedin.com/company/gac-group”
http://www.allaboutshipping.co.uk/2013/03/21/trace-certification-sends-strong-message-for-gac-egypt/
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Posted: February 11, 2013
Australia’s oil and gas workers enjoyed the highest average salaries in the industry in 2012 due to a skills shortage, with expatriates pocketing $171,000 a year, a study said on Friday.
Despite uncertain global economic conditions, wages in the oil and gas industry rose globally by 8.5 percent in 2012 to $87,300, according to Hays Oil and Gas Job Search. That follows an average increase of 6.5 percent in 2011.
“There would be few industries with such a track record of growth over the last few years in what has been, in the most part, an uncertain economic environment,” the report said.
World oil production in 2012 grew by 2 percent from the previous year to 89.17 million barrels per day and is expected to increase 1 percent this year, according to the U.S. Energy Information Administration.
Expatriates in Australia topped the list, and Norway came second, according to the survey, conducted among more than 25,000 employees. Among local hires, Australians workers were also the highest earners, with an average wage of $163,600.
“At the top of this year’s table, we once again see Australia and Norway. Both countries have limited skilled labour pools and significant workloads. The result is very high pay rates, although both would appear to have met some sort of ceiling,” the report said.
Australia is preparing to become one of the world’s largest liquefied natural gas (LNG) exporters, with 190 billion Australian dollars ($196.2 billion) worth of projects currently underway, requiring a vast workforce.
The average wage in the United States was significantly lower at $123,800. At the other end of the spectrum were expatriates in Sudan, who according to the survey, earned $59,800 in 2012. Wages tumbled in Iran, whose oil and gas production contracted last year as a result of Western sanctions over its disputed nuclear programme. The average expatriate salary in Iran dropped 27 percent in 2012 to $68,100, while the average for local employees fell 10 percent to $46,900, the study found. “Where imported salaries are concerned, it is once again the frontiers of the industry that are pushing the upper limits of pay. Representing a mix of danger money and hardship allowance in these base salaries, we find Russia’s Arctic exploration driving imported skills, and China’s drive on non-conventional skills also pulling in experts on premium rates,” Hays Oil and Gas Job Search said. The risks involved in some exploration and production regions were laid bare last month in Algeria, where Islamist gunmen attacked a gas plant, which led to the deaths of at least 38 local and foreign workers. Expatriate salaries in Algeria averaged $92,400 last year, according to the survey, which was conducted before the attack. As for areas of expertise, vice presidents and directors of subsea pipeline projects earned the highest average wages at $251,200, up 9 percent from 2011. Graduate salaries increased 12 percent to just under $40,000 in 2012. In an industry counting around 5 million people across the world, 47.4 percent are expatriates, with the remainder employed locally, the report said. ( C) Reuters
For more information and news please see http://www.fxcentre.com/news.asp?3033334
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Posted: November 15, 2012
We’ll be tuning into Ireland’s Search and Rescue on RTE 1 this Sunday at 6.30pm to see a few familiar faces.
Following on from the success of the two Irish Coast Guard helicopter rescue series, Rescue 115 and Rescue 117, Ireland’s Search and Rescue is a six part series, presented by Claire Byrne. This new series features the Irish Coast Guard helicopter bases in Dublin, Waterford, Shannon and Sligo as well as RNLI stations and Mountain Rescue teams nationwide. The series also shows the work of Cork City Fire Brigade and volunteer Coast Guard groups.
(Image property of RTE)
See http://www.rte.ie/tv/programmes/searchandrescue.html for further information.
We wish all involved the best of luck with the new series.
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Posted: October 21, 2011
NMCI are proud to announce that their site has been nominated for a prestigious Web Award.
The commercial division of the National Maritime College of Ireland was nominated in the ‘Best Student Web or Social Media Project’ category at the Irish Web Awards which takes place in Dublin on October 22.
The site which includes details for our academic courses, the Irish Naval Service activates, professional maritime short courses, offshore courses and general information on the NMCI.
The nomination reflects the strong social media presence the commercial division now possesses in the form of YouTube, Vimeo Twitter, LinkedIn and a blog.
The National Maritime College of Ireland (NMCI) is the first third level college in the country to be built under the Government’s Public-Private Partnership scheme. A Public-Private Partnership (PPP) is a partnership between the public and private sector for the purpose of delivering a project or service traditionally provided by the public sector. NMCI specialise in offshore training and offshore courses.
The award show will be MC’d by RTE 2 DJ Rick O’Shea and includes a performance by Cork’s finest comedian Colm O’Regan.
Best of luck to all the other finalists!
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Posted: September 7, 2011
This year Cork Harbour Open Day is set to be a great day with so much happening all around the harbour. Now in its third year, Cork Harbour Open Day has grown and each year offers more and more activities both on and off the water. The day itself is a great day for people to see exactly what Cork Harbour has to offer, and this year is no exception with the second largest natural harbour in the world will playing host to the Cobh to Blackrock sailing race, kayaking on the River Lee, crab fishing in Cobh, and for the first time a free open day at the National Maritime College of Ireland (NMCI) in Ringaskiddy and Fastnet Lines MV Julia open to the public for tours and lunch.
Cork Harbour Community Radio will broadcast throughout the day on frequency 98.3FM live from the NMCI. This community radio initiative is part of a response to the great sense of community developing in the Cork Harbour area and has been made possible by the combined effort and support of many harbour side groups and organisations.
This year will also see the first ferry shuttle service operated by ‘Whale of a Time’ and sponsored by the Port of Cork and NMCI running in the lower harbour calling at Ringaskiddy, Monkstown, Cobh, Aghada and Crosshaven. Free to anyone who wishes to use it, this ferry will be a great way to see the harbour and get around to the different locations and attractions.
Visitors to Ringaksiddy will be given the opportunity to go on a free guided tour around the National Maritime College of Ireland and see their panoramic bridge simulator, the survival pool and the marine workshops. Staying in Ringaksiddy, at the Deepwater Quay, Fastnet Lines’ MV Julia will open to the public giving people the chance to go onboard the ferry and even have some lunch if they wish. In the evening, Cork Corona Film Festival will hold a fundraiser themed the ‘Amazing Cork Maritime Experience’ at the NMCI from 5pm onwards. Tickets for this event are available here.
In Cobh, Cunard’s MV Queen Elizabeth will make her maiden call to the Port of Cork and to coincide with this visit, Cunard and the Port of Cork have organised a Lusitania Memorial Service in Cobh led by the Captain of Queen Elizabeth. To add to the occasion, Band 1 Southern Brigade will play in the promenade after the service. Both events are free and open to all.
In the afternoon ‘See You in Cobh’ will run a crab fishing competition for kids. The Irish Coastguard, RNLI and the Search and Rescue Helicopter will perform a search and rescue demonstration in the lower harbour near Monsktown and Ringaskiddy at 3pm. At 5pm when MV Queen Elizabeth departs a ‘Fond Farewell’ is being organised to encourage spectators around the harbour to wave this great ocean liner off as she departs Cork harbour. Great locations around the harbour to see the departure are Roches Point, Weavers Point, Camden Fort, Cobh town or Whitegate.
Spike Island will be open to the public all day, with boat rides operating from Kennedy Pier in Cobh to the island throughout the day. Live music, face painters, clowns and jugglers will be on the island to entertain and visitors to the island are being encouraged to bring their own picnic for the day.
In Crosshaven, the Rescue Camden Committee have organised a free open day from 12-6pm. The fort will host the Airborne 101 re-enactors and a weapons display and a ‘Port in Pictures’ photograph exhibition. Camden Fort is a perfect location to watch MV Queen Elizabeth as she departs Cobh at 5pm. Crosshaven will also hold their annual triathlon at 4pm.
In Cork City, the Irish naval vessel L.E.Ciara will be open to the public for free tours of the ship from 11am to 4pm. Also in the morning visitors will get to see the amazing 150 cars taking part in this year’s Cannonball Run in aid of Barretstown Kids charity, as they depart Custom House quay at 11am. Blackrock Castle Observatory will present their theatrical tours bringing the colourful story of the castle to life from 400 years ago to present day. A great venue for all the family and a super location to watch the Cobh to Blackrock sailing race, as the yachts head up the river.
In Aghada, there will be tales and stories of the south east side of the harbour throughout the day held in Rosies Bar. Visitors can use the ferry shuttle which would take them to Aghada’s new pontoon facility recently opened.
Aimed at embracing what Cork Harbour has to offer, the Cork Harbour Open Day aims to raise awareness of the different activities available for people in the harbour both on and off the water. It’s a great day for all the family with many events free to everyone.
The idea for a Harbour Open Day emerged from discussions between various stakeholders involved in the development and implementation of the Integrated Strategy for the Harbour. A group comprising representatives from UCC, City and County Councils and the Port of Cork set about working together to engage users of the Harbour and to organise the Open Day.
For more information on Cork Harbour Open Day and see the full programme of events visit www.corkharbour.ie or email harbourevents@corkharbour.ie for information.
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Posted: August 24, 2011
Corona Cork Film Festival will host a fundraiser in association with NMCI Services and the Port of Cork on Cork Harbour Open day which takes place on September 10th at 5pm. The National Maritime College of Ireland (NMCI) will host the event which is entitled ‘The Amazing Cork Maritime Experience” this will be an evening of the arts, film and entertainment.
The fundraiser includes arrival via a Harbour Cruise, a Maritime Art Exhibition, Music on the lawn, a selection of Maritime Short-Films, Guided Tours of the College’s Facilities, and finally ‘The Great Cork Boat Race’ which is a remote controlled boat races with prizes.
Minister for Agriculture, Food and the Marine Mr Simon Coveney T.D was at the NMCI to officially launch Cork Harbour Open Day 2011. This is the third year of event which aims to embrace and showcase what Cork Harbour has to offer and organisers are hopeful that the wide range of events will attract many people.
The National Maritime College of Ireland will also be opening their doors to the public on this day from 12pm – 5pm and they will be providing free guided tours of their superb facilities.
The tour includes a sea survival pool showcase that can demonstrate world class special effects that includes wave generation and strobe lighting.
The multi million euro 270-degree Kongsberg simulator will also be on show. This will be opened to the public for the first time and is capable of simulating our very own harbour along with famous ports such as New York and Sydney harbour. These facilities are often used for Corporate Team building.
This family friendly event will also have a face painter along with local food producers set up around the campus.
A programme of events to date can be found on www.corkharbour.ie
Tickets for the fundraiser can be purchased at https://corkfilmfest.ticketsolve.com/shows/126518308/events
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