Exploration Development 2000 P

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.
11/02/2000 -- 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.
11/02/2000 -- 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 -- 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.
11/01/2000 -- 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.
11/01/2000 -- 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.
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.
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 -- 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.
10/30/2000 -- 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.
10/27/2000 -- BP launches $500 million 4D seismic program for the North Sea
BP has begun a $100 million/year, 4D seismic program for its North Sea fields that will last at least the next 5 years, said BP Thursday. The supermajor said a $10 million, 4-year seismic processing contract awarded Thursday to Compagnie Generale de Geophysique was the first in a number of contracts for its 4D seismic data initiative.
10/27/2000 -- SPR issues
The US Senate has finally passed a bill reauthorizing the Energy Policy and Conservation Act, the law under which the 571-million-bbl US Strategic Petroleum Reserve is operated.
10/26/2000 -- Green consultation to clear UK licensing round
The way should soon be cleared for the long-delayed 19th licensing round in the UK North Sea following yesterday's announcement by Energy Minister Helen Liddell of a 3-month consultation into the potential environmental impact of oil and gas exploration on the highly prospective 'White Zone' between the Shetland and Faroe Islands.
10/25/2000 -- Barrett Resources acquires Raton basin coal bed methane properties
Barrett Resources Corp. acquired coal bed methane assets in southern Colorado from an affiliate of Kansas City Power & Light Co. for $52.9 million. The properties contain proven coal bed methane gas reserves of 75 bcf, Barrett said.
10/24/2000 -- California PX report concludes players didn�t game the market
In a special investigation into the cause of high electricity prices experienced in California this summer, the California Power Exchange concluded that no one electricity supplier group or individual was responsible for the high and volatile prices in the spot markets. The report, �Price Movements in California Electricity Markets, still not released but obtained by OGJ Online, looked at the high prices and how buyer and seller behavior contributed to those prices.
10/24/2000 -- Unocal makes new find off Viet Nam, confirms Kim Long
Unocal Corp. said Tuesday that it had made a new discovery, Ca Voi, in block 52/97 off southwestern Viet Nam. Unocal also said it had drilled four wells to confirm the earlier Kim Long gas find in Block B (OGJ, Dec. 22, 1997, p. 30). In addition, Unocal announced that it and its coventurers in blocks B and 48/95 (also known as block A) recently signed a letter of intent for development of the blocks that anticipates gas production from block B will begin at 200 MMcfd of gas in 2005.
10/24/2000 -- Exploration/Development news briefs, Oct. 24
Blue Dolphin Energy � Spinnaker Exploration � Chevron � Chinese Offshore Oil Geophysical Corp. � Ranger Oil UK � Premier Pict Petroleum � Ranger Oil PC � Bow Valley Petroleum UK � Roc Oil UK
10/24/2000 -- Magellan Petroleum returns to New Zealand
Magellan Petroleum Australia Ltd. has returned to New Zealand petroleum exploration after an absence of more than 30 years with a farm-in to permit PEP 38256 in the onshore portion of the Canterbury Basin in the country�s eastern South Island.
10/23/2000 -- Pakistan approves offshore exploration policy
Pakistan's Federal Cabinet approved a package of reforms aimed at encouraging oil and gas exploration at a meeting chaired by Pakistani ruler Gen. Pervez Musharraf.
10/20/2000 -- Lundin Oil boosts production off Malaysia/Viet Nam
Swedish independent Lundin Oil AB and its partners are implementing a production enhancement project at their Bunga Kekwa field located in the PM3 offshore block in the commercial arrangement area between Malaysia and Viet Nam.

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Exploration Development 2000 P