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Exploration Development 2000 P12

  • 10/30/2000 -- Kufpec awards Indonesian field contracts
    Kufpec Indonesia Ltd. has awarded contracts to a consortium of PT Istana Karang Laut (IKL) and Daewoo Corp. for the Oseil oil field development. The contract covers Phase I engineering, procurement, installation, and commissioning (EPIC) together with an operations and maintenance (O&M) contract for the Phase I production period of approximately 2 years. The lump sum agreement is worth $61.7 million.
  • 10/31/2000 -- Vaalco to acquire most of Etame block
    Houston-based Vaalco Energy Inc. said it has signed a letter of intent to acquire Western Atlas Afrique Ltd.'s 65% interest in the Etame block off Gabon. Although the agreement is subject to governmental approval and to final agreement on terms, which were not disclosed, Vaalco expects the deal to close by the end of the year.
  • 10/31/2000 -- Amity makes gas discovery in Turkey
    Perth-based explorer Amity Oil NL said it has made a 'significant' gas discovery in Turkey about 100 km west of Istanbul in permit AR/AOI/3589. The discovery well, a wildcat called Gocerler-1, flowed at a maximum stabilized rate of 12.4 MMcfd through a 42/64-in. choke at a flowing tubing pressure of 1,110 psi.
  • 10/31/2000 -- ISO New England to pilot internet interruptible load program
    In a first, ISO New England Inc. is testing a system that will allow the operator of New England's bulk electric power grid to interrupt power blocks of participating industrial and commercial customers via the internet. The pilot's objectives are twofold, according to ISO New England: to demonstrate that a load response program can increase reliability and allow industrial and commercial customers to respond to price signals in the wholesale electricity marketplace.
  • 11/01/2000 -- Pakistan awards petroleum exploration license
    The government of Pakistan granted a petroleum exploration license to a joint venture of operator Pakistan Petroleum Ltd. (95%) and Pakistan government holdings (5%) for Karsal block 3272-8, which covers 625.26 sq km in Chakwal district in Punjab province. The block was awarded Monday through a competitive bidding process.
  • 11/01/2000 -- India to announce second exploration licensing round awards in December
    India will launch the second round of crude oil exploration license awards under the New Exploration Licensing Policy in December. The authorities also are considering giving marketing rights to private and foreign companies if they are willing to invest more than $500 million in the oil exploration, refining, or infrastructure sectors.
  • 11/02/2000 -- Aker sells seismic arm to CGG
    Norway's Aker Maritime AS yesterday agreed to sell its 2-year old marine seismic unit, Aker Geo, to French geophysical specialist Compagnie Generale de Geophysique SA (CGG) in a cash and shares deal worth some $118 million. Under the sales transaction, which Aker said should be concluded by mid-January 2001, CGG will acquire Geo's two seismic survey vessels, Aker Amadeus and Aker Symphony.
  • 11/02/2000 -- Canadian licensing round complete
    The Canada-Nova Scotia Offshore Petroleum Board on Thursday announced high bidders for eight exploration licenses off Nova Scotia. The board offered the tracts last June. The high bids represented what the winners would spend exploring the blocks during the first 5 years of a 9-year lease.
  • 11/02/2000 -- NEB says British Columbia gas resources dropping
    The Canadian National Energy Board reported that estimates of undiscovered natural gas resources for northeastern British Columbia have dropped to 30.8 tcf from 33.2 tcf over the past 5 years. It said the Foothills region is the most likely to yield large gas discoveries.
  • 11/03/2000 -- Consultant projects $25 billion in scrubber spending
    US power companies will commit $25 billion to install scrubbers to remove sulfur dioxide (SO2) at new and existing coal-fired plants over the next 9 years, predicts a Midwest consultant. The McIlvaine Co. expects new flue gas desulfurization (FGD) system orders will total less than $500 million in 2001 but will rise to over $2 billion in 2003 and to $4 billion by 2007.
  • 11/03/2000 -- DOE realigns Tulsa petroleum research office
    The US Department of Energy has shifted its Tulsa, Okla., petroleum research office under the umbrella of the recently created National Energy Technology Laboratory to improve technology exchanges within DOE.
  • 11/03/2000 -- Distillate heating oil supplies remain low, report says
    The Petroleum Industry Research Foundation reports that US home heating oil stocks remain low despite an increase in distillate production, setting the stage for a potential shortage if the winter is unusually cold. It said low heating oil inventories, tight natural gas supplies, and renewed threats to Middle East stability create reasons to worry about heating oil supplies this winter.
  • 11/06/2000 -- Chancellor Group to acquire Kansas oil field
    Chancellor Group Inc., Las Vegas, Nev., has agreed to purchase 100% of B&L Co.'s interest in the Shinkle oil field in Greenwood County, Kan., for $1.75 million. Payment will include a maximum of 400,000 restricted shares of Chancellor Group common stock and $750,000 in cash, with $100,000 down and the balance in 90 days. Equity financing for the transaction has been arranged.
  • 11/08/2000 -- Eni-Agip claim deepest producing horizontal well
    Italian oil and natural gas company Eni has reported that its Agip division, working with US contractor Schlumberger's Directional Drilling Services, has drilled what is claimed to be the world's deepest producing horizontal oil well.
  • 11/09/2000 -- Exxon Azerbaijan awards 3D seismic contract
    Exxon Azerbaijan Operating Co. LLC, operator of the Zafar-Mashal production-sharing agreement, has awarded a contract to perform a 3D seismic survey to Caspian Geophysical LLC, a joint venture between Schlumberger Ltd. unit Schlumberger Oilfield Services and the State Oil Co. of Azerbaijan (SOCAR), Exxon said Wednesday.
  • 11/10/2000 -- THOSE 'CONFUSING' FLORIDA BALLOTS
    There are arrows pointing to the punch-holes, for crying out loud! Why did Palm Beach County Floridians find their presidential-election ballots so confusing?
  • 11/13/2000 -- Peru revives offshore bid rounds
    Perupetro, the Peruvian state oil agency, said it will begin to hold bid rounds in early 2001 for offshore blocks left pending since last year. Instead of auctioning 16 blocks together, however, it will divide the blocks into separate areas.
  • 11/13/2000 -- BP negotiating for stake in CNOOC unit
    BP is negotiating to invest about $200 million in China National Offshore Oil Corp. unit CNOOC Ltd. when it launches an initial public offering next year, an official at China�s second biggest oil producer has said. Dai Huandong, CNOOC�s vice-president, said the amount has not yet been finalized. A BP spokesman declined comment on how much BP is willing to invest.
  • 11/14/2000 -- AMG Oil spuds Arcadia-1 well in New Zealand's Canterbury basin
    AMG Oil Ltd. has spudded the Arcadia-1 well in New Zealand's Canterbury basin to test a large structure. It also will assign a 20% interest in the northern area of the Canterbury basin petroleum exploration permit 38256 to Durum Consolidated Energy Corp.
  • 11/15/2000 -- New Zealand gas play revisited
    The Westech Energy New Zealand Co. led exploration group has been joined by Perth-based Pancontinental Oil & Gas NL for the redrilling of the Waitaria gas prospect in the onshore East Coast Basin of New Zealand's North Island.
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