• 2017 July 14 15:09

    Staatolie signs contracts with ExxonMobil, Hess Corp and Statoil for two offshore blocks

    On 13 July 2017, Staatsolie Maatschappij Suriname N.V. concluded production-sharing contracts for two offshore blocks. For Block 59, an agreement was signed with a consortium consisting of the oil companies ExxonMobil, Hess Corporation and Statoil. With Statoil a contract was signed for Block 60, the Company said in a press release.

    The agreements are the result of Staatsolie’s ‘Open Door Policy Offshore Suriname’, which ran from 15 September 2015 until 7 September 2016. International oil companies could bid on open offshore blocks during this period. Based on predefined selection criteria, blocks 59 and 60 were awarded to the consortium and Statoil respectively. Negotiations with the parties started mid-October 2016.

    The agreements are effective for thirty years. The full contract term has been divided into an exploration, a development and a production period. For the exploration period, a minimum work program was agreed, during which geological research, seismic data collection and exploration drilling will be performed, among others. The consortium and Statoil will pay all costs in the exploration phases, and these will only be paid back after a commercial discovery is made which is brought into production. The contract offers Staatsolie the possibility to participate for up to ten percent in the development and production phases.

    Explicit attention was paid to inspection, safety and the environment in drawing up the production-sharing contracts. Provisions for the employment of local staff, training courses, social programs and the way in which the decommissioning of facilities will take place at the end of the petroleum activities, have also been included.

    Managing Director Rudolf Elias signed both contracts on behalf of Staatsolie. Erik Oswald (ExxonMobil), Timothy Chisholm (Hess) and Martijn Smit (Statoil) signed on behalf of the consortium. The agreement for Block 60 was also signed by Smit on behalf of Statoil.

    Block 59 is approximately 11,500 km2 in size and is situated about 400 kilometers off the coast, in water depths of more than 1,900 meters (ultra deep). Block 60, an area of 6,200 km2, is situated about 250 kilometers off the coast, in water depths of 800 down to 1,900 meters.

    American ExxonMobil is the largest publicly traded international oil and gas company in the world, with activities in several parts of the world. Together with its partners, ExxonMobil recently made large oil discoveries in Guyana.

    Hess Corporation is a large, independent energy company active in various countries. Together with its partners in Guyana, Hess made the large Liza-1 oil discovery. In Suriname, Hess already has an interest of 33.3 percent in Block 42.

    Statoil is the state oil company of Norway. The company has grown into a multinational active in the exploration, production, refining and shipping of oil and gas. Since January 2014, Statoil has an interest of 50 percent in Block 54.




2018 February 21

13:18 ATOMFLOT says Russia needs nine more icebreakers for the Northern Sea Route by 2025
13:01 Clarksons Platou collaborates with Maersk Line to provide shipping services in Egypt
12:43 Big Port of St. Petersburg imposes ice restrictions in the harbour effective as of March 7, 2018
12:31 Castellammare Di Stabia starts slipway works on the multipurpose amphibious unit
12:10 Rosterminalugol transferred over RUB 1.5bn of taxes to different budgets
12:01 Panama Canal hosts Cheniere Energy to discuss LNG’s Future at the waterway
11:25 MOL car carrier rescues castaways in the North Atlantic Ocean
10:53 Crude oil futures prices edge down 0.8% to $64,73 in London and 1% to $61,17 in New York
10:46 Sovcomflot and Shell ink time-charter agreements for Aframax LNG-powered duo
10:35 Vostochny Port obtains ISO 14001:2015 certificate
09:48 Port of St. Petersburg bunker prices move upward
09:26 Baltic Dry Index rises 2.76% to 1117 points

2018 February 20

18:37 Time is running out to register for the Dangerous Goods: New Requirements for Transportation Conference, March 1, 2018
18:31 Russian association of fishery businesses call to revise a 'fishing quotas per a keel' terms
18:06 AVANZA completes a successful trial with Daikin Reefer
17:38 The Maritime CIO Forume Cyprus 2018 to be held in Limassol, March 27
17:03 DNV GL issues over 50,000 electronic certificates
16:55 RIMS secured a further class approval from Korean Register of Shipping for the use of drones during surveys
16:39 Taganrog Commercial Sea Port spent $156 000 on environment protection in 2017
16:34 Wärtsilä and Maersk Drilling create a joint 25-year strategy for thruster services to increase uptime and reduce costs
16:04 Post-Brexit port health border disruption still a major concern for British ports
15:34 Goltens teams up with Yara Marine on SOx scrubbers
15:21 Taganrog Sea Commercial Port earmarked $74,4 to support social programmes in 2017
15:04 US Navy awards concept design contract to Fincantieri to evolve FREMM into FFG(X)
14:32 Port of Marseille Fos traffic up 8% in 2017
14:02 The largest vessel enters Busan Port since its opening
13:32 Carnival Fascination resumes year-round service from San Juan
13:20 Port of Kavkaz sees a 50% spike in freight volumes, to 1.98 million tonnes
13:09 Rosterminalugol coal exports reach 150-millionth tonne milestone
13:02 Partners start financing waste-to-chemistry project in Rotterdam
12:35 First foundation for the offshore wind farm Kriegers Flak installed in Denmark
12:18 Bunker fuel prices in the Far East ports remain firm
12:07 United Shipbuilding Corp: the floating co-generation plant Akademik Lomonosov is 96% complete
11:32 Rotterdam port diminishes the sale of bunker oil to 9.9 million m3 in 2017
11:27 APM Terminals Itajaí to double monthly volume
10:44 Crude oil futures price slides 0.29% to $65,48 in London, in New York gains 1.17% to $62,27
10:36 Sevastopol to host 6th Business Forum SIMBF 2018, June 6-7
09:49 Russian M100 product spot price gains last week to RUB 5,594/mt
09:30 Baltic Dry Index gains to 1087 points

2018 February 19

18:52 Russia’s Glavgosexpertiza gives nod to new phases of ZVEZDA Shipyard construction
18:05 Maersk Line increases FAK rates from Europe to West Coast South America, Caribbean and Middle America
17:05 Hapag-Lloyd introduces Asia – Middle East – New Asia Red Sea Service (AR1)
16:05 Maersk Line increases Reefer FAK rates from North Europe to Far East Asia
15:49 Iskes Towage & Salvage adds two more Damen ASD Tugs 2810 to its fleet
15:25 Maersk Line increases DRY rates from Russia to Far East Asia
15:02 The Russian Register of Seaports updates Port of Tuapse details
14:53 Nevsky Shipyard prepares the Akademik Pashin to test underway replenishment capabilities
14:26 Xeneta increases its data coverage by 161% in 2017
13:49 Rosmorport’s icebreakers assist shipping in the Gulf of Finland, escorted 17 vessels
13:12 GasLog reports financial results for 2017
12:01 GoodBulk announces delivery of Capesize vessel
11:46 Port of Mariupol freight volumes soar 32.3% to 455,860 tonnes
11:08 APL expands Eagle GO. Guaranteed service to 29 Asian port origins
10:48 NOVATEK inks cooperation MoU with Saudi Aramco
10:34 Crude oil futures price grows by 0.85% to $65,39 in London, in New York - by 1.25% to $62,45
09:08 Baltic Dry Index edges down 0.46% to 1084 points

2018 February 18

09:24 Hapag-Lloyd increases rates from Finland, Russia, Baltic States, Sweden, UK to East Asia (incl. Japan)
09:21 Preparing to define the Baltic Sea’s significant marine areas
09:19 Prime Minister Shri Narendra Modi inaugurates the Fourth Container Terminal of JNPT in Mumbai
09:14 Holland America Line to launch New EXC In-Depth Voyages