Category: Offshore

Ocean energy to get a wave of federal funding

The U.S. government is pumping $16 million into projects aimed at producing energy from ocean waves, currents and tides, based on a federal forecast that water power could provide 15 percent of U.S. electricity by 2030.  More »

Caspian Sea could become natural gas hub

The commodity that fuels electric power is becoming a much more prominent driver of energy production in the Caspian Sea, a region that produced 3.4 percent of the world’s oil supply last year, according to a report from the Energy Information Administration.  More »

Recent accidents highlight shallow water dangers, departing regulator says

Recent accidents at offshore oil and gas facilities highlight the risks of producing energy on the shallow continental shelf as well as the Gulf of Mexico’s deepest frontiers, said a departing U.S. regulator James Watson.  More »

Western Gulf lease sale draws tepid interest

The federal government will open bids from a dozen companies seeking new drilling leases in the western Gulf of Mexico on Wednesday. But none of them will be from BP, which is suspended from new government contracts in connection with the 2010 Deepwater Horizon disaster.  More »

Statoil makes key oil discovery off Newfoundland

The Norwegian-based oil company found its third discovery of crude oil in the Flemish Pass Basin, on its Bay du Nord prospect, located approximately 300 miles northeast of St. John’s, Newfoundland and Labrador, Canada.  More »

Americans want more wind, less costs

Americans overwhelmingly want more wind energy, but projects that could make that happen have been mired in controversy and concern, experts said at a Houston conference on Tuesday.  More »

New offshore drilling regulator takes helm

Oil and gas companies drilling in U.S. waters have a new regulator in the nation’s capital, as a Coast Guard veteran formally took the helm of the Bureau of Safety and Environmental Enforcement on Monday.  More »

Anadarko to get $2.6 billion for part of offshore Mozambique gas block

Anadarko Petroleum Corp. said Sunday night it had signed a deal to sell a 10 percent interest in an offshore Mozambique natural gas block offshore to Indian company ONGC Videsh for $2.64 billion.  More »

Petrobras outspends Exxon researching next oil frontiers

On a seabed off Brazil, Petroleo Brasileiro SA is separating water from oil as it pumps the crude from beneath the Atlantic. No company had done that before.  More »

Feds push stricter rules for offshore production systems

The Obama administration on Wednesday proposed a rule to tighten standards for oil and gas production systems used offshore, in a bid to keep pace with the industry’s march into deeper waters and more challenging terrain.  More »

Anadarko pushes boundaries with newest deep-water platform (video)

Anadarko’s Lucius truss spar project would have seemed unreasonable a decade ago. It’s the culmination of a multibillion-dollar effort to pump up to 80,000 barrels of oil per day from a set of Gulf wells under about 7,100 feet of water.  More »

Black Elk Energy: Fatal fire hit finances, production

Houston-based Black Elk Energy said Thursday it was still dealing with economic fallout from last year’s fatal explosion at one of its Gulf of Mexico production platforms, even as federal investigators continue to probe the company’s overall safety.  More »