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Exploration Development 2001 P12

  • 05/22/2001 -- Statoil spuds wildcat on Sarsfield prospect off Ireland
    Statoil Exploration Ireland Ltd. has spudded a wildcat on the Sarsfield prospect west of Ireland. Statoil said it expected to complete drilling of the well, which lies in 650 m of water in Porcupine basin license 8/95, within 52 days. Results will be returned in the autumn.
  • 05/22/2001 -- ENI joins E&D joint venture in North Caspian Sea
    ENI SPA is making its first foray into Russia as an operator following the signing of an exploration and development deal with Astrakhannafteprom for a swath of acreage neighboring giant Kashagan oil field in the North Caspian Sea. It will explore a 1,800 sq km area at the mouth of the Volga River.
  • 05/21/2001 -- Exploration/Development news briefs, May 21
    BP ... Nexen ... Touchstone Resources USA ... Woodside Petroleum ... Fusion Oil & Gas
  • 05/21/2001 -- India outlines its first coalbed methane offering during US road show
    A delegation of India's oil and coal officials Monday outlined the details of seven coalbed methane (CBM) exploration and production blocks up for bidding. CBM potential in the seven blocks is 225 billion cu m, Syed Shahnawaz Hussain, India's Minister of State for Coal, told a gathering in Houston Monday.
  • 05/21/2001 -- Santos completes fifth Otway basin discovery in Australia
    Santos Ltd., operator of exploration permit 154 in the Victorian section of the Otway basin in Australia, has made a fifth gas discovery in the area.
  • 05/17/2001 -- Novus Petroleum acquires stake in Texas project
    Novus Petroleum Ltd., Sydney, Australia, signed an agreement with BNP Petroleum Corp. of Texas to gain a 30% interest in the Padre Island Project Area, in which Novus plans to spend $3 million on drilling activity this year. Novus Managing Director Bob Williams said the Padre Island Project was part of Novus' strategy of identifying commercial investment opportunities in countries having developed gas markets.
  • 05/17/2001 -- Pakistan revises petroleum policies to encourage onshore exploration
    Pakistan has amended its petroleum policy to encourage onshore exploration. The move is similar to one made recently to encourage offshore exploration. Petroleum Sec. Abdulah Yousaf said that he was not satisfied with the pace of exploration and was devising a 10-year plan to gradually increase exploration activity to 100 wells/year.
  • 05/17/2001 -- Repsol-YPF confirms Murzuq basin discovery
    Repsol-YPF SA, Madrid, has confirmed its A1 discovery on exploration block NC-186 of the Murzuq basin, 800 km south of Tripoli, Libya.
  • 05/17/2001 -- Melrose to explore in Black Sea off Bulgaria
    Melrose Resources PLC said Thursday that its subsidiary, Petreco Sarl, has signed a deal with the Bulgarian state-owned energy agency to explore the shallow water Kaliakra 99 concession in the Black Sea. The agreement follows a deal inked yesterday between the Scottish independent and Bulgaria to begin development within 6 months of the offshore Galata gas field concession.
  • 05/17/2001 -- EU and Russia seek cooperation and integration of energy markets
    The European Union and Russian Federation Tuesday will try to advance plans to formalize cooperation and integration of their energy markets. Security of energy supply will top the agenda when political representatives meet at the EU-Russian Federation Summit in Moscow.
  • 05/17/2001 -- Energy plan offers no relief for high gasoline prices, marginal wells
    The Bush administration's energy strategy will not offer relief for high gasoline prices or marginal well production, White House officials said. It will advocate controversial lease sales, on the Arctic National Wildlife Refuge coastal plain and in the eastern Gulf of Mexico.
  • 05/16/2001 -- Hurricane Hydrocarbons tries to block Kazakh bid
    Hurricane Hydrocarbons Ltd., Calgary, has approved a $200 million (US) payment in the form of dividends in a bid to block a takeover bid by shareholders in Kazakhstan, where the company has its main crude production.
  • 05/16/2001 -- Analyst says Caspian needs middle-way boundary treaty
    To end the long-standing political stalemate over maritime boundaries in the Caspian Sea, the area's five coastal states will have to forge a common middle-way agreement that balances demarcation with shared use, a UK-based academic specializing in energy policy in the region said Tuesday. But Sergei Vinogradov warned the five nations have "a long road ahead."
  • 05/16/2001 -- Higher oil production boosts CNOOC first-quarter revenues
    CNOOC Ltd., Hong Kong, Wednesday announced first-quarter revenue of $574 million, a 12.5% jump from the same period a year earlier, based upon higher oil production volumes. In particular, production from Bohai Bay increased because of successful commercialization of discoveries.
  • 05/15/2001 -- Market watch: OPEC eyes prices ahead of June meeting
    Trading was mixed Monday on international energy futures markets as members of the Organization of Petroleum Exporting Countries analyzed oil prices prior to their next ministerial conference June 5 in Vienna.
  • 05/14/2001 -- Conoco to build $75 million gas-to-liquids demonstration plant
    Conoco Inc., Houston, Monday announced plans to build a $75 million demonstration plant in Ponca City, Okla., to commercialize the company's proprietary technology for converting natural gas to liquids. Conoco said gas-to-liquids technology could enable economic development of stranded gas reserves estimated at more than 4,000 tcf worldwide.
  • 05/14/2001 -- Pakistan to sell its interests in nine concessions this summer
    Pakistan's Privatization Commission plans to accept bids in late July or early August on the government's working interest in nine oil and gas concessions. Pakistan nets 9,000 b/d of oil and 60 MMcfd from the nine blocks, which have 50 million boe/d of reserves.
  • 05/14/2001 -- Norwegian government targets June 18 for Statoil IPO
    The Norwegian government has set June 18 for the launch of its partial initial public offering for listing Statoil AS, the state-owned oil company, on the Oslo and New York stock exchanges. The Norwegian government plans to float between 15-25% of Statoil through the IPO, a percentage that could rise to 33% via partnership agreements.
  • 05/10/2001 -- BP says well finds 1 tcf of gas
    BP Trinidad and Tobago, an affiliate of BP PLC, said its Cashima-1 well off the east coast of Trinidad has found more than 1 tcf of gas. The well, 2.5 miles east of Flamboyant field, is the first of four planned this year.
  • 05/10/2001 -- CNOOC signed a new PSC with Santa Fe
    China National Offshore Oil Corp. (CNOOC) Thursday announced it has signed a production sharing contract with Santa Fe Energy Resources (China) Ltd. for Block 27/10 in the Pearl River Mouth Basin of South China Sea. The block, 160 km south of Hong Kong, covers 6,546 sq km.
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