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
Sign Up to our Newsletter
Click Here
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/
Sign Up to our Newsletter
Click Here
Posted: March 21, 2013
On 14 March 2013, His Excellency Sheikh Saoud bin Abdulrahman Al-Thani, Minister of Sport & Secretary General of the Qatar Olympic Committee (QOC) is pictured with Board Members of SEFtec NMCI Offshore (“SNO”), Conor Mowlds (pictured 2nd from left) and Darren O’Sullivan (pictured 4th from left). This was taken prior to the signing of a Memorandum of Understanding between SEFtec NMCI Offshore and IRM Offshore to provide support for the development of dedicated TEMPSC coxswain training facility in Qatar over the next 12 months.
Sign Up to our Newsletter
Click Here
Posted: March 20, 2013
The Irish Examiner
Wednesday, March 20, 2013
Fastnet Oil & Gas has initiated a farm-out process to help cover the cost of its forthcoming $18m (€14m) surveying activity in the Celtic Sea, which will be the biggest of its kind ever undertaken in the area.
Last month, the exploration firm selected French geophysical specialist, CGG to carry out the 3D seismic survey to cover 2,200sq km of the Celtic Sea.
Fastnet say the 3D survey will last for about 50 days. It is due to begin in April.
The firm had been expected to partially pay CGG from the €18.6m capital it raised late last year, but it has commenced a search for a partner who will stump up most of the cash in return for a stake in one of the licence areas being surveyed.
The survey will cover Fastnet’s ‘Mizzen’ prospect and adjoining areas — where several large structures have been identified — but will begin at the Deep Kinsale Prospect, in which Fastnet purchased a 60% stake last month.
The prospect is a potential oil-bearing reservoir situated underneath the Kinsale Gas Field. The potential to expand the 3D study exists, but depends on interest from potential partners.
Paul Griffiths, Fastnet’s managing director, said that even at this early stage, the company is “very encouraged” by the level of interest being shown, “by a broad spectrum of companies”.
“This is the first large-scale 3D seismic programme to be acquired in this part of offshore Ireland. Whilst we are targeting proven hydrocarbon systems around the Kinsale and Barryroe fields, we are also evaluating a prospective part of the Celtic Sea Basin, covering approximately 4,250 sq km, that has seen only one well drilled, in 1975 by Esso, which encountered oil shows. 3D seismic is the first step to creating material, ‘drill ready’ prospects.”
By Geoff Percival
http://www.irishexaminer.com/business/fastnet-looks-for-farm-out-partner-225926.html
Sign Up to our Newsletter
Click Here
Posted: March 1, 2013
Arklow Shipping
“We operate a dry cargo fleet of 40 modern, purpose built ships from 4,500dwt to 35,000dwt. Due to continued expansion we have a vacancy for the following position:-
Marine Engineer Superintendent
This position, based in Arklow, will require a person who is keen to advance and develop their skills further in the marine sector. The successful candidate will be responsible for the efficient operation, management and maintenance of vessels under their control. The candidate will be required to join the team to oversee the future new build construction programs in Europe and the Far East.
Minimum qualification is Chief Engineer (Unlimited) certificate of competency. Applicants must be fully conversant in the English language. Previous experience in this position is not essential but considered advantageous.
Please send detailed cv to:- Personnel Department
Arklow Shipping North Quay, Arklow. Co.Wicklow Ireland
Email personnel@asl.ie”
Sign Up to our Newsletter
Click Here
reply
retweet
favorite
Connect with NMCIS