Wirelines

Posted on 02 November 2009

IADC PROVIDES TESTIMONY
Invited by Rep. Kevin Brady of Texas, IADC senior vice president – government  affairs Brian Petty testified 21 July before the US House Ways and Means Subcommittee on Trade in his capacity as chairman of the federal advisory committee on automotive equipment and capital goods (ITAC 2). The subcommittee is examining the federal advisory system.

Organized labor, environmental groups and “consumer advocates” have been agitating to join the industry committees, but Mr Petty pointed out that industry committees were created to give unvarnished advice on US trade policies. Their presence could chill free and frank discussion, as well as become a disincentive to recruiting new members and retaining existing members. Organized labor and the environmentalists also already have their own trade advisory committees.

INDIA SETS NEW BUDGET
In its budget for the tax year ending 31 March 2010, the Indian government is giving tax incentives to natural gas production in new fields where oil production is now favored under the existing tax regime. There was no change in the service tax under litigation by IADC except to keep the tax at a 10% rate. But the definition of “India” was changed, extending the service tax jurisdiction to the 200-mile offshore limit.

The Central Board of Direct Taxes also will be empowered to establish “safe harbor” rules to reduce transfer pricing disputes. The board will establish a dispute resolution mechanism to expedite settlements outside the judicial system. Industry welcomes both changes.

SPCC IMPLEMENTATION
On 19 June, the US Environmental Protection Agency issued the Final Rule on Spill Prevention, Control and Countermeasure Plans establishing 10 November 2010 as the date by which all facilities must prepare or amend their SPCC Plans. The owner or operator of an existing mobile onshore or offshore facility will be required to maintain an SPCC Plan and must make any necessary amendments and implement them on or before the set date. For operations that begin after 10 November 2010, a plan must be in place prior to beginning operations.

SEMS REQUIREMENTS
The MMS issued a proposed rule on 17 June 2009 requiring operators to develop and implement a safety and environmental management system (SEMS) to address oil and gas operations on the OCS. It will consist of four parts: hazards analysis, management of change, operating procedures and mechanical integrity. Though not directly addressed in this rulemaking, MODUs will likely feel its effect via the operator’s accountability for contractors and subcontractors.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 30 March 2015

    National Petroleum Council: US can safely tap Arctic resources to secure energy needs

    Prudently developing US Arctic oil and natural gas resources would enhance America’s position as a global leader in energy production for the next 35 years...

  • 30 March 2015

    Joint safety improvement plan aligns HSE objectives, “language” for Shell, Halliburton

    Speaking at a joint presentation with Halliburton at the 2015 IADC HSE&T Asia Pacific Conference in Kuala Lumpur on 12 March, Alain Moonen...

  • 27 March 2015

    Gravity-deployed carbon composite cable completes first commercial deployment offshore Norway

    Ziebel, a Stavanger-based provider of specialist well intervention services for the oil and gas industry, announced that its Z-Line gravity-deployed...

  • 27 March 2015

    Petronas’ INSTEP training institute plans improvements for integrated, experiential learning

    Institut Teknologi PETRONAS (INSTEP) takes realism seriously when it comes to experiential learning – seriously enough to be planning...

  • 26 March 2015

    Wood Mackenzie: Falling costs to soften blow of slashed exploration budgets

    Exploration budget cuts in 2015 will average 30%, but that will be matched by an approximately equal fall in exploration costs...

  • Read more news