Naval exercise of 7 countries to conclude

The three day maritime exercise in Pacific bringing together ships and aircraft from seven countries involving the mock interception of weapons of mass destruction will conclude today.

Japan plays host to the massive navy drill which commenced in the Pacific on Saturday. The Pacific Shield 07 exercises are being conducted as part of the U.S.-originated Proliferation Security Initiative, Japan's Foreign Ministry said in a statement. This mark the second time Japan hosting such drills, the first being in 2004. The current exercises involve 10 ships, six aircraft and personnel from Australia, France, Japan, New Zealand, Singapore, Britain and the United States. Forty countries sent observers, the Japanese ministry said. The drills involve the mock interception of vessels in Pacific Ocean waters southwest of Tokyo, as well as ship boarding and inspection exercises at the ports of Yokosuka and Yokohama, also southwest of Tokyo.

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Canadian pair to join hands in PNG

Canadian companies InterOil and Invicta Oil & Gas have reportedly signed an agreement covering three onshore exploration blocks in Papua New Guinea.

Two of the blocks are currently held by Cheetah Oil & Gas, and one is held by InterOil, said Cheetah, which has sold 90% of its PNG business to Kepis & Pobe Investments which has in turn assigned all its rights and obligations to Invicta. Cheetah said Invicta and InterOil propose to enter into agreements to share data in respect of the three blocks, to undertake a joint exploration and development program in respect of up to four wells on the properties and for offtake arrangements for the supply of gas from the blocks to InterOil’s planned LNG facilities in PNG.

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Electric Boat Corp wins $5.7M Navy contract

Electric Boat Corp. is being awarded a $5.7m modification under previously awarded contract to exercise an option for maintenance and operation of the government furnished drydock Shippingport (ARDM-4).

The contractor shall maintain Navy certification, protect and operate the Navy floating dry dock, and shall accomplish organizational level repairs and preservation to the government furnished dry dock. Work will be performed in Groton, Conn., and is expected to be completed by September 2008. Contract funds will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.

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International Maritime Prize awarded posthumously

The prestigious International Maritime Prize for 2006 has been awarded posthumously to Mr. Igor Ponomarev (Russian Federation).

Mr. Ponomarev who was serving as the chairman of IMO's Maritime Safety Committee (MSC) at the time of his sudden death in October 2006, age 41, and who had already given distinguished service to the shipping industry in a variety of senior positions both within and outside IMO. Mr. Efthimios E. Mitropoulos, Secretary-General of the International Maritime Organization, presented the prize to Mr. Ponomarev's widow, Mrs. Elena Ponomareva, during a special ceremony during the 83rd session of the MSC, held in Copenhagen, Denmark.

The International Maritime Prize is awarded annually by IMO to the individual or organization judged to have made the most significant contribution to the work and objectives of IMO. The 98th session of the IMO Council in June 2007 took the decision to award the prize to Mr. Ponomarev posthumously in recognition of his contribution to the objectives of the Organization. Mr. Ponomarev is one of two winners of the 2006 prize, as the Council decided, for the first time, to award two prizes for that year: one to Mr. Ponomarev, posthumously, and another to Mr. Alfred Popp (Canada), in recognition of his long and distinguished service to the cause of maritime safety and security and the protection of the marine environment, highlighted by his work representing Canada at IMO and his chairmanship of IMO's Legal Committee from 1993 to 2006.

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ONGC to launch 2nd phase exploration in Mumbai High

Public sector oil and gas major, ONGC has lined up Rs 6,300 crore investment for launching the second phase of exploration activity in Mumbai High south field.


ONGC CMD R S Sharma told reporters in Chennai the board has given Rs 5,700 crore approval on October 3 this year for implementing the project over a five year period. The magnitude of the full investment of Rs 6,300 crore is inclusive of the past approvals. The first phase of Mumbai High offshore project, which entailed an investment of Rs 5,200 crore, has been completed 19 months ahead of schedule.


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