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Hilcorp’s plan for a 23-acre gravel island, about the size of 17.4 football fields, has drawn mixed reviews from conservationists and outright condemnation from environmentalists who believe the oil should stay in the ground.
The largest oil and gas project ever developed in the Republic of Congo has started production, multinational oil giant Chevron confirmed Friday morning.
At a meeting in Athens on Wednesday, the three countries’ leaders issued a joint statement saying they would accelerate talks to resolve “outstanding issues” on delineating their maritime zones.
Even before crude prices collapsed and triggered a retreat from expensive deepwater projects, the offshore supply vessel industry was struggling with rising debt and too much competition jockeying for the same work.
The missing workers were on a lifeboat that toppled into heavy seas late Friday after the oil platform caught fire when an underwater gas pipeline was damaged in s storm.
Vantage said it had reached restructuring agreement with lenders and creditors who hold more than $1.6 billion of its subsidiary the Offshore Group Investment Limited’s debt.
Despite the dry hole and its previously announced plans to sell off stakes in fields in the Gulf of Mexico to focus more on shale plays, Marathon isn’t completely sailing away from the region.
By Erik Milito Safe, responsible energy development in the Gulf of Mexico and beyond is vital to the U.S. economy and job growth, as well as U.S. energy and national security. Joint efforts from the oil and natural gas industry and federal government have made great strides to enhance the safety of offshore operations in […]
Industry standards alone won’t ensure improved offshore safety because they lack the force of law, says the head of the federal agency that regulates the offshore industry.
The company is continuing to work with the Cypriot government to finalize development plans for Aphrodite.