Exploration Development 2001 P

04/09/2001 -- Australia offers 42 offshore exploration licenses
Australia is offering 42 offshore petroleum exploration areas for open bid. Sen. Nick Minchin, Australia's minister for Industry, Science, and Resources, said the leasing fits the government strategy to encourage more intensive exploration of the continental shelf.
04/09/2001 -- Veba wraps repositioning year with 'improved' results
Veba Oil & Gas GMBH Chairman Paul Haseldonckx credited high crude prices and a robust US dollar Monday as the German company recorded post-tax profits of 300 million euros on revenues of 1.8 billion euros for 2000. Some of the gloss came off Veba's figures because production and reserves figures fell slightly with the sale of assets.
04/06/2001 -- Uzbekneftegaz to announce privatization
The Uzbekistan government plans to outline details on the privatization of Uzbekneftegaz, the national oil company, and its subsidiaries during a 1-day conference in Tashkent May 16. The privatization is part of an economic restructuring aimed at achieving an annual economic growth of 4-5%. A presidential decree was made last year regarding new investment legislation in oil and gas.
04/06/2001 -- US MMS issues notices for lease sales
The US Minerals Management Service has issued proposed notices of sale for Western Gulf of Mexico Lease Sale 180 and Central Gulf of Mexico Sale Part 2, scheduled concurrently for Aug. 22. Both offer blocks in the Western Gap, formerly in dispute with Mexico.
04/06/2001 -- From ANWR to Baghdad
With leasing prospects for the Arctic National Wildlife Refuge coastal plain dim, most US companies are hoping White House energy policymakers turn their attention outside US borders. President George W. Bush recently signaled he recognizes the country will have to continue to go outside the US to meet energy demand.
04/05/2001 -- Abraxas makes South Texas discovery
Abraxas Petroleum Corp., San Antonio, Tex., tested a South Texas well at absolute open flow potential of 16 MMcfd of gas from the Wilcox formation. Dimon No. 1, in Muy Bueno field, is producing at a restricted rate.
04/05/2001 -- US lawmakers say roadless rule hurts energy security
A last-minute decision by the Clinton administration to restrict 58.5 million acres of federal land from development was "short-sighted" in light of tight energy supplies that have driven up fuel prices, Republicans from oil-producing states complained Wednesday at a congressional hearing.
04/03/2001 -- Devon Energy brings Gulf of Suez field on stream
Devon Energy Corp., Oklahoma City, Okla., has begun production from its North July field in the Gulf of Suez off Egypt. Devon also had a discovery in the southern Gulf of Suez with a well in the South-West Gebel El-Zeit concession, 6 miles offshore in 86 ft of water.
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 -- Independents pleased with Gulf of Mexico sale tracts
Independents Thursday said they were pleased with the tracts they won in the Central Gulf of Mexico lease sale the day before. Analysts said companies bid actively for both shallow water tracts with deep gas prospects and deepwater acreage.
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.
03/27/2001 -- Murphy Oil: Front Runner well finds 850 ft of pay
Murphy Oil Corp., El Dorado, Ark., said an exploration well on its Front Runner prospect in the Gulf of Mexico has found more than 850 true vertical ft of pay.
03/26/2001 -- Elf Petroleum outlines Amenam-Kpono development plan
Elf Petroleum Nigeria Ltd. spokesman Olufemi Aribisala revealed more details about the company's development plans for Amenam-Kpono field, the largest shallow water development in the Niger Delta. Elf expects initial production of 125,000 b/d by mid-2003.
03/26/2001 -- Anadarko resumes exploration on Saharan blocks in Algeria
A group led by Anadarko Petroleum Corp. Monday signed an amended production sharing agreement with state-owned Sonatrach. The agreement concerns Blocks 404, 208, and 211 in the Sahara Desert.
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.

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Exploration Development 2001 P