Exploration Development 2001 P

05/25/2001 -- Petrobras, Repsol-YPF to invest $1.7 billion in Albacora field
Petroleo Brasileiro SA (Petrobras) and its 10% partner Repsol-YPF SA will invest $1.7 billion to develop Albacora Leste (Albacora East) field, in Campos basin off Rio de Janeiro state, Brazil.
05/24/2001 -- Nova Scotia plans energy strategy forum
Canadian and international energy officials will meet in Halifax June 14 at a forum to discuss the Nova Scotia government's process of developing an energy strategy. Discussion will include opportunities for Nova Scotia's sales of oil, gas, and electricity to the northeastern US.
05/24/2001 -- Spinnaker makes four Gulf of Mexico discoveries
Spinnaker Exploration Co., Houston, announced it has made four discoveries in the Gulf of Mexico. Three of the operations established new fields and one a deeper pool discovery.
05/23/2001 -- Vaalco Energy to get acreage around Etame field off Gabon
Gabon officials approved the creation of a production area surrounding Etame field for Vaalco Energy Inc., Houston, within Etame block off Gabon. The 50 sq km production area will become effective upon the issuance of a government decree next month, entitling the Vaalco-led consortium to develop Etame field. The block holds a 3,700 b/d oil discovery drilled in 1998.
05/22/2001 -- Oil and gas firms urged to find new ways to recruit, retain workers
While many worry about future energy supplies, the "truly scarce resource" in the oil and gas industry over the next few years will be "talented, technical people," said a panel of industry executives.
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 -- Phillips, Anadarko open fields in National Petroleum Reserve-Alaska
Phillips Alaska Inc., a subsidiary of Phillips Petroleum Co., and Anadarko Petroleum Corp., Houston, Monday announced the first discoveries in the National Petroleum Reserve-Alaska (NPR-A) since it was reopened to exploration in 1999. NPR-A is west of the Colville River on Alaska's North Slope. The discoveries are 15-25 miles southwest of Alpine oil field.
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.
05/18/2001 -- Eight producers to put $25 billion in Saudi gas projects
In a major move to reopen its upstream sector to foreign investors, Saudi Arabia on Friday named eight international oil companies to participate in three natural gas exploration and development projects with an initial total cost estimated at $25 billion.
05/18/2001 -- Phillips and BP extend Kuparuk field on North Slope
Alaska subsidiaries of Phillips Petroleum Co. and BP PLC Friday announced a discovery estimated to contain 35 million bbl of recoverable reserves and extending Kuparuk oil field on Alaska's North Slope to the west. Exploration well Palm No.1 discovered 30 feet of oil-saturated Kuparuk sand at 5,800 ft sub-sea. Kuparuk is the second-largest oil field in North America following Prudhoe Bay.
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 -- Bush energy policy pleases oil and natural gas producers
The Bush administration's proposed energy policy hit all the right chords among oil and natural gas executives, who appreciate both the long term approach and the supply orientation of that plan.
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.

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Exploration Development 2001 P