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Exploration Development 2000 P9

  • 09/04/2000 -- US firm totes up Lukoil reserves
    OAO Lukoil's combined reserves stand at some 23 billion bbl of oil and 6.6 tcf if gas, with 60% concentrated in the Russian oil giant's "main resource region" of West Siberia, according to a new independent calculation by US engineering company Miller and Lents Inc.
  • 09/05/2000 -- TotalFinaElf targets Libyan expansion
    Franco-Belgian oil combine TotalFinaElf SA has entered into negotiations with the Libyan government with a view to expanding its acreage holdings in the Middle East state and bidding for new blocks in Libya's upcoming licensing round, according to the official Organization of Petroleum Exporting Countries news agency, OPECNA.
  • 09/06/2000 -- DOE to fund five gas research projects
    With natural gas in short supply in the US and demand expected to continue its rapid growth, the US Department of Energy has agreed to pay $4.7 million to launch five natural gas research projects valued at nearly $7 million. The projects will study, among other things, drill-bit manufacturing, reservoir remediation, gas hydrate sedimentation, slim-hole drilling, and salt-dome storage.
  • 09/12/2000 -- Algeria to launch first open licensing round
    Algeria will soon launch a tender offer for hydrocarbon exploration concessions, it was officially announced in Algiers. This will be the country's first open licensing round.
  • 09/13/2000 -- Fletcher farms out share in New Zealand's Tuihu prospect
    Fletcher Challenge Energy, a unit of New Zealand-based Fletcher Challenge Group, said Sept. 7 that it will farm out to Australia's Origin Energy Ltd. a 20% share in the license area PEP 38718 containing the Tuihu prospect in the onshore section of New Zealand's Taranaki basin.
  • 09/13/2000 -- North Leven find for Talisman
    Talisman Energy UK Ltd., the North Sea E&P arm of Canada's Talisman Energy Inc., has made an oil discovery not far from its Clyde field. The North Leven prospect, spudded from the Clyde platform via the 30/17b-A32 extended-reach well, tested at a maximum rate of 12,080 b/d of 39� API crude. The well is current producing some 10,00 b/d through the Clyde facilities.
  • 09/14/2000 -- Indonesia considers moves to increase use of gas reserves
    Indonesia is considering implementing several gas-to-liquids (GTL) projects and undertaking other measures in order to increase use of its gas reserves. The country has about 21 billion boe of gas, according to Indonesian Gas Association Pres. John S. Karamoy.
  • 09/14/2000 -- Shell unveils development plans for Oregano, Serrano
    Shell Exploration & Production Co. (SEPCO) said Wednesday that it will develop its deepwater Gulf of Mexico discoveries Oregano and Serrano via a subsea production system tied back to the Auger tension leg platform. SEPCO has had plans for years to use some of its deepwater developments as hubs for the production of still deeper reserves; Oregano and Serrano are examples. Total development costs for the two projects are $250 million, excluding lease costs.
  • 09/14/2000 -- Heat, short supply keep California under watch
    With electricity reserves forecast to fall below 7% Thursday, the California Independent System Operator (ISO) declared a Stage 1 emergency for the third day in a row Thursday. The ISO issued the warning notice and requested supplemental energy bids of up to 3000 Mw.
  • 09/14/2000 -- California steps up to Stage 2 alert
    The California Independent System Operator (ISO) declared a Stage 2 emergency Thursday after a fire at the Oregon border unexpectedly cut power deliveries into California. The ISO earlier issued a Stage 1 warning and requested supplemental energy bids of up to 3000 Mw.
  • 09/15/2000 -- Oil price fate in hands of Saddam and the weatherman
    Well, the fate of oil prices now seems to be in the hands of Saddam Hussein and the weatherman.
  • 09/15/2000 -- Peru's agenda
    Peru estimates it needs drilling investments of $287-360 million/year over the next 5 years in order to double its oil reserves to 700 million bbl.
  • 09/19/2000 -- Vanguard Oil makes find with Egyptian well
    A wholly owned subsidiary of Calgary-based Vanguard Oil Corp. has drilled the Tanan-1 well in Egypt's West Esh El Mallaha concession to a total depth of 8,750 ft and is running casing to complete the well as an oil discovery. Vanguard plans to announce initial production rates once the well is producing.
  • 09/19/2000 -- US suit accusing Shell of improper activity in Nigeria to proceed
    A Second Circuit US Court of Appeals ruling will allow a lawsuit claiming Royal Dutch Petroleum Co. aided and abetted the torture and murder of Nigerian activists who opposed drilling on their lands to be heard in the US, said a report by Mark Hamblett in the New York Law Journal. The case, filed under the Alien Tort Claims Act, alleges violations of the international law of human rights, said Hamblett.
  • 09/19/2000 -- Magellan expands Australian holdings
    Magellan Petroleum Australia Ltd. has added to its permit interests on the North West Shelf off Western Australia and in the Cooper basin of South Australia, acquiring stakes in three licenses.
  • 09/20/2000 -- Energy futures slip in NYMEX trading
    Energy futures prices slipped in trading on the New York Mercantile Exchange Tuesday. Traders booked their profits after the market's significant rise during the last few sessions. As there was no news of fundamental nature, profit-taking weakened the market.
  • 09/20/2000 -- Noble expands into power in Ecuador
    Utilizing gas from its exploration and production operations in Ecuador, Noble Affiliates Inc. will develop a 200 Mw combined-cycle, natural gas-fired electric generating plant in Machala, its initial venture into the power generation business, Noble Chairman Robert Kelley said in Houston. The Ardmore, Okla.-based company expects to bring the $140 million power plant on line during 2002.
  • 09/21/2000 -- Coalbed development push urged
    A Pennaco Energy Inc. official said Thursday that despite the threat of a gas supply crisis this winter, there is little chance that government officials will accelerate an environmental impact study to expedite exploration and development of coalbed methane deposits in Wyoming's Powder River Basin.
  • 09/25/2000 -- Noble to build power plant in Ecuador
    Noble Affiliates Inc. plans to venture into the power generating business by developing a 200-Mw combined-cycle, natural gas-fired power plant at Machala, Ecuador, that would utilize gas from its exploration and production operations in that country, said Noble Chairman, Pres., CEO, and Director Robert Kelley in Houston. Noble Affiliates also said its methanol plant in Equatorial Guinea is 90% complete.
  • 09/25/2000 -- EIA reports rise in US oil, gas reserves during 1999
    Robust commodity prices for oil and natural gas during 1999 bolstered growth for the proven number of US oil and gas reserves, said the US Energy Information Administration (EIA) in its 1999 annual report for US oil, natural gas, and natural gas liquids reserves.

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