• 2019 January 18 11:38

    PGNiG SA signs agreement for oil and gas exploration and production in UAE

    Representatives of PGNiG SA, the Ras Al Khaimah Petroleum Authority and RAK GAS LLC have signed an agreement whereby the Polish company is permitted to explore for and produce hydrocarbons in the emirate of Ras al Khaimah, PGNiG says in a press release. 

    On behalf of PGNiG SA, the Exploration and Production Sharing Agreement was signed by Piotr Woźniak, President of the Management Board, and Michał Pietrzyk, Vice President of the Management Board for Finance, in the presence of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.

    “We are entering a region of fundamental importance for the global oil and gas market in what marks another step in the pursuit of the PGNiG Group’s strategy to strongly expand the international presence of its exploration and production segment,” said Piotr Woźniak, President of the PGNiG Management Board. “I am sure that by joining forces with local partners we will not only benefit business wise, but will also gain an opportunity to share knowledge and experience,” he added.

    PGNiG won a tender for acquisition of rights to explore for, to appraise and to produce hydrocarbons in Ras Al Khaimah in December 2018. The agreement allocates obligations and provides for a split of costs and profits under the licence. Initially, the work will be carried out in three two-year exploration stages, to be followed by a 30-year production phase. After each exploration stage, the Company may choose to relinquish its interest in the licence.

    The licence area is 619 square kilometres. All matters related to the execution of activities under the licence will be the responsibility of a newly established branch of PGNiG SA in the emirate of Ras Al Khaimah.

    The Ras Al Khaimah Petroleum Authority is the regulator of the oil and gas sector in the emirate. RAK GAS LLC is the emirate’s national oil company whose business includes exploration, production, delivery and processing of hydrocarbons.

    Nishant Dighe, CEO of RAK GAS, said: “On behalf of the RAK Petroleum Authority and RAK GAS LLC, we are pleased to welcome PGNiG to Ras Al Khaimah for this exploration and production sharing agreement. We look forward to a successful and mutually beneficial partnership that we are confident will unlock the hydrocarbon potential in Ras Al Khaimah.”

    According to the latest OPEC statistics, the United Arab Emirates proven reserves amount to 98 billion barrels of oil and over 6 trillion cubic meters of natural gas. Crude oil production amounts to 3 million barrels a day and marketed production of natural gas to 54.1 billion cubic meters per annum.


2019 February 16

14:42 Höegh’s RoRo solution chosen for 112MT Transformer shipment
13:28 Torqeedo wins Innovation Award at Miami International Boat Show for powerful new inboard electric propulsion system
12:13 Telford Offshore beefs up its fleet
10:26 Chevron inks new LNG agreement with GS Caltex

2019 February 15

18:05 Noble Corporation announces purchase of a second newbuild jackup rig from PaxOcean
16:57 Port of Goole powered by £1 million solar installation
16:26 ABP continues support of Felixstowe Volunteer Coast Patrol Rescue Service
15:30 Sea Cup 2019 preliminaries kick off in Kamchatka
15:04 CNIIMF authorized to confirm conformity of dangerous cargo containers
13:59 Nevsky Shipyard starts cutting metal for cargo-passenger ship of PV22 project
13:32 Murmansk Sea Fishing Port handled 5,500 tonnes fish in Jan’2019, down 48% Y-o-Y
13:08 Fincantieri and Princess Cruises celebrate three construction milestones of three “Royal” class ships at the Monfalcone shipyard
12:45 Dredging under Sea Port Sukhodol project to exceed 7 mln cbm – details to be covered at the Congress
12:08 Port of Oakland import volume increased 9 percent January 2019
11:46 8 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 14-15
11:27 Okskaya Sudoverf lays down seventh dry cargo carrier of Project RSD32M
11:08 DNV GL and Metalships & Docks ink class agreement for luxury sailing vessel
10:53 Throughput of Ukraine’s seaports in Jan’19 grew by 3.4% Y-o-Y to 11.19 million tonnes
10:29 Brent Crude futures price is up 0.63% to $64.98, Light Sweet Crude – up 0.57% to $54.72
10:08 EFIP welcomes the adoption of the European Parliament resolution on NAIADES II
09:41 Bunker prices are going up at the port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index up down to 628 points
09:07 ICTSI inaugurates the expansion of its Batumi International Container Terminal
08:07 MAN Energy Solutions wins contract to supply the engines for a new harbour tug in Spain
07:41 Inmarsat announces new initiatives to support maritime, ports and logistics start-ups with Rainmaking and Bluetech

2019 February 14

18:03 Austal's LCS 20 completes acceptance trials
17:44 Royal Navy to discuss the future of unmanned and autonomous naval warfare at SMi's 3rd annual Unmanned Maritime Systems Technology 2019
17:22 Freight turnover of Neva-Metal (Saint-Petersburg) in January 2019 fell by 26% Y-o-Y to about 190,000 tonnes
17:03 MOL Techno-Trade takes part in marine environmental protection program
16:25 VTB acquires 100% of Novorossiysk Grain Terminal from NSCP Group
16:03 Port of Virginia container volume up 8.9% to 134,638 TEU in January 2019
16:03 Expert expects uncertainty on global fuel market next week
15:49 “K” Line’s LNGC makes maiden call from Ichthys LNG Project to Naoetsu LNG Terminal in Japan
15:40 BSTDB to finance construction of Lavna coal terminal under agreement with STLC
15:21 2nd Conference “Dangerous cargoes: new transportation requirements” to be held under the auspices of RF Chamber of Commerce and Industry
15:03 ONE renewes own loading record exceeding 19000TEUs
14:33 Maersk and PBF Logistics LP announce agreement for production and storage of 0.5% sulphur fuel on the U.S. East Coast
14:02 Port of Long Beach volumes decrease 0.1 percent to 657,286 TEU in Jan 2019
13:50 Multipurpose Transshipment Complex to be built in Primorsk
13:32 Port of Los Angeles volumes up 5.4 percent to 852,449 TEUs in January 2019
13:02 Port of Rotterdam throughput volume up to 469.0 million tonnes in 2018
12:46 Supply vessel OCEAN COOPER 2 sinks in Singapore waters
12:25 Baltic Sea Region cruise ports commit to reducing negative ecological impacts
11:27 Bunker prices are flat at the Far East ports of Russia (graph)
11:09 Port of Marseille-Fos to deliver the first phase of the subsea cable landing infrastructure by Q3 2019
10:31 9 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 13-14
10:09 GTT receives an order from Samsung Heavy Industries for the tank design of a new LNG Carrier for Minerva Gas
09:44 Brent Crude futures price is up 0.66% to $64.03, Light Sweet Crude – up 0.58% to $54.21
09:25 Baltic Dry Index is up to 608 points
09:08 ABB to power Iceland’s first electric ferry ABB to power Iceland’s first electric ferry

2019 February 13

18:10 Shell and partners start deep-water production at Lula North in Brazil
17:46 OLT Offshore LNG Toscana Regasification Terminal works at almost full capacity
17:23 Excelerate’s Northeast Gateway Deepwater Terminal reached a peak send-out flow rate
16:58 Bunker sales at the port of Singapore in Jan’2019 fell by 8.9% Y-o-Y to 4.12 million tonnes
16:29 II HES and Dredging Forum to address deep-water routes to Sabetta and Novoportovsky terminal
15:57 Port of Singapore throughput in Jan’2019 fell by 2.4% Y-o-Y to 51.93 million tonnes
15:32 Throughput of Russian seaports in Jan'2019 grew by 5.6% Y-o-Y to 67.6 million tonnes of cargo (detalization)
15:05 Bank VTB acquired 50 percent minus one share in United Grain Company
15:04 NYK conducts crisis-response drill with ONE
14:56 DNV GL and Metalships & Docks ink class agreement for luxury sailing vessel