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Exploration Development 2001 P16

  • 04/02/2001 -- Swift buys share of Lake Washington field in Louisiana
    Swift Energy Co. has bought interests in Lake Washington field in Plaquemines Parish, La., for $30.5 million from Elysium Energy LLC effective Mar. 1. Swift said reserves total 7.1 million bbl of oil and 3.7 bcf of gas. Production from the purchased interests is 1,000 boe/d.
  • 03/30/2001 -- Baytex offers $72 million (Can.) for OGY Petroleums Ltd.
    Baytex Energy Ltd., Calgary, Friday announced plans to acquire Calgary-based OGY Petroleums Ltd. for $72 million (Can.) in a cash-stock deal that would increase Baytex�s Alberta reserves. OGY has proved reserves of 1.8 million bbl of oil and 25 bcf of gas adjacent to Baytex�s core properties.
  • 03/30/2001 -- Canadian Natural Resources hits oil off Ivory Coast
    Canadian Natural Resources Ltd., Calgary, said its wholly owned subsidiary, Ranger Oil Cote d'Ivoire SARL, found oil off Ivory Coast on block CI-40. The discovery is 8 km south of Espoir field on Block CI-26, which Ranger is developing.
  • 03/29/2001 -- Gas to grab growing share of global power market
    Natural gas's share of the global electric power generation market will grow to 35.2% in 2005, up from 27.9% in 1999, US government forecasters predict. With gas becoming the fuel of choice for new electric generation, the US Energy Information Administration has projected its share of the global power market will rise to 41.7% in 2010, 51% in 2015, and 59.7% in 2020.
  • 03/28/2001 -- TRC, college plan to put Texas E&P data on internet
    The Texas Railroad Commission, Austin, said Wednesday it will join with Huston-Tillotson College to make the commission�s exploration and production data available to producers via the internet. They will seek a US Department of Commerce grant for the project.
  • 03/26/2001 -- Hydro to develop Fram West, Vale fields off Norway
    The Norwegian Ministry of Petroleum Friday approved Norsk Hydro AS's plans for development and operation of Fram West and Vale fields in the North Sea. Fram West will be developed at a cost of 4 billion kroner via subsea templates with four wells each tied back to Hydro's nearby Troll C platform for processing. The Vale gas/condensate field will be developed as a subsea satellite operation tied back to the Heimdal riser platform.
  • 03/23/2001 -- Pakistan moving forward with PSO privatization
    Pakistan's privatization ministry has hired the financial advisory services of JP Morgan for Pakistan State Oil (PSO), the country's largest oil marketing company. The government plans to sell management control and 51% of the company to the private sector. No deadline has been fixed for PSO's sale, but the government plans to complete the privatization within the next 18 months.
  • 03/23/2001 -- Shell Nigeria awards ABB Bonga subsea work
    Shell Nigeria Exploration & Production Co. Thursday awarded ABB Offshore Systems AS a $180 million contract to deliver the deepwater subsea production systems for the oil company's giant Bonga development off Nigeria. Under the deal, ABB will be responsible for engineering, procurement, and construction of all of the subsea equipment.
  • 03/23/2001 -- Amerada makes first oil and gas find off Malaysia
    Amerada Hess Malyasia Ltd. said Thursday that it had discovered oil and gas with its second exploration well on Block PM304 off Peninsular Malaysia. Cendor-1 was spudded in 63 m of water and encountered hydrocarbons at multiple levels. The well tested at a maximum rate of 2,840 b/d of 42-gravity crude from a single zone.
  • 03/23/2001 -- Conoco makes southern North Sea gas find
    Conoco UK Ltd. said Friday it had a gas discovery between its Murdoch and Caister fields in the southern sector of the UK North Sea that could represent future production of more than 80 billion scf. The Ensco 80 jack-up spudded the well in 40 m of water, encountering 52 m of net pay in the carboniferous Westphalian formation.
  • 03/22/2001 -- Santos discovers gas in Australia
    Santos Ltd., Adelaide, Thursday announced a gas discovery in the Queensland sector of the Cooper basin, 135 km south of the Ballera Gas Center. The wildcat, Quasar-1, has the fourth highest flow rate found in southwest Queensland.
  • 03/22/2001 -- USGS cites large potential for US lands off limits to exploration
    Federal lands have the potential to contain large oil and gas deposits, government and industry witnesses said Thursday. The US Geological Survey said assuming 1995-era technology, there are about 112 billion bbl of technically recoverable oil onshore and off and a remaining gas resource base of 1,074 tcf.
  • 03/22/2001 -- Aker Maritime gets share of Norwegian shelf license
    Industry contractor Aker Maritime AS, Oslo, said Thursday it has won a stake in a production license on the Norwegian continental shelf, which Aker called an important first step towards expanding its operations. Aker Maritime has a 49% stake in Block 35/3 while RWE-DEA AG, Hamburg, formerly Deutsche Texaco AG, is the operator with 51% interest.
  • 03/20/2001 -- Fortesa signs Senegal PSA
    Fortesa International Inc., Houston, and Petrosen, the national oil company of Senegal, have signed a production-sharing agreement for the Thies permit. The permit, which comprises 1 million acres along the western coast of Senegal, contains the 1997 Gadiaga gas discovery. Fortesa and Petrosen will jointly develop the find.
  • 03/20/2001 -- SEG official: Geophysicists to expand into other industries
    Future geophysicists will apply the skills and technology developed for oil and gas exploration to environmental, engineering, infrastructure development, and other industries yet unimagined, said Walt Lynn, president-elect of the Society of Exploration Geophysicists, in Houston Tuesday.
  • 03/20/2001 -- Petrobras says 5,000 l. of oil has spilled from P-36
    Petroleo Brasileiro SA (Petrobras) said Tuesday the crippled P-36 platform sank and 5,000 l. of crude had spilled but was being blown out to sea by high winds. Earlier Tuesday, Petrobras confirmed the platform was resting on the bottom of the ocean at 1,350 m.
  • 03/20/2001 -- Vanco clinches first PSC off Madagascar
    US independent Vanco Energy Co.'s Madagascar subsidiary Monday signed a production sharing contract to explore the Majunga Offshore Profond block in the deepwater Majunga basin off East Africa. Operator Vanco Madagascar Ltd. said the area is "a little explored region" off Madagascar's northwestern coast.
  • 03/19/2001 -- Fusion wins Cameroon deepwater exploration license
    Fusion Oil & Gas PLC said Monday it had signed a petroleum concession contract with the Republic of Cameroon for exploration of the deepwater Ntem permit in the Southern Douala/Kribi-Campo basin off West Africa. The prospect covers an area of 2,080 sq km where water depths range from 1,000 to 1,800 m.
  • 03/19/2001 -- Statoil starts Gullfaks gas pipeline in North Sea
    Norway's state-owned oil and gas company Statoil AS said Monday that on Mar. 16 it started the gas export line that eventually will supply 25 million cu m/day from the Gullfaks area in the Norwegian North Sea to the Statpipe trunkline for transport to Europe.
  • 03/16/2001 -- Repsol has second oil discovery in Libya's Murzuq basin
    Repsol YPF said it had an oil discovery at its B-1 wildcat in the Murzuq basin 800 km south of Tripoli, Libya. The well, the second Repsol had drilled on the 4,300 sq km Block NC-186 in the Sahara Desert, produced 1,300 b/d of 40-gravity oil.
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