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Exploration Development 2001 P3

  • 11/15/2001 -- Singapore company seeks partners for land exploration in North Korea
    Sovereign Ventures Pte. Ltd., Singapore, said Thursday it is seeking experienced partners to explore and develop the first onshore oil and natural gas concession in North Korea to be granted to a foreign company.
  • 11/15/2001 -- Eastern Canada oil groups urge more focus on supply and services needs
    Eastern Canada oil groups say the region needs a system to audit the capabilities of the oil service and supply sector to support exploration and development.
  • 11/15/2001 -- Newfoundland approves development plan for first onshore field
    Canadian Imperial Venture Corp said the Newfoundland government has approved its development plan for Garden Hill oil field at Port au Port, Newf.
  • 11/14/2001 -- Existing coal power plants to boost production, analyst says
    Confounding the hopes of many environmentalists, US electric plants are expected to boost coal consumption in the future. Credit ratings agency Fitch predicted US power plants will be burning more than 1 billion tons/year of coal 15 years from now, up from the 925 million tons of coal that was consumed by US electricity generators last year.
  • 11/14/2001 -- BG makes 13th discovery on West Delta Deep Marine concession off Egypt
    BG Egypt, Egyptian General Petroleum Corp., and Edison International SPA announced a natural gas discovery with their Saurus-1 well in the West Delta Deep Marine Concession off the Nile Delta, Egypt.
  • 11/14/2001 -- Greenspan says energy industry needs continued focus on R&D
    Technology has transformed the energy industry, but incremental improvements will require massive long-term investment in research and development, US Federal Reserve Board Chairman Alan Greenspan said. He spoke Tuesday at Rice University's James A. Baker Institute for Public Policy.
  • 11/14/2001 -- US energy agency raises commercial energy demand forecast
    Commercial energy demand in the next 15 years is expected to grow faster than previously forecast and fewer nuclear plants will be retired, government forecasters predicted in an annual energy outlook. The Energy Information Administration said total US energy demand is expected to grow by almost one-third between 2002 and 2020.
  • 11/13/2001 -- FERC needs state 'buy-in' on RTOs, commissioner says
    With respect to regional transmission grids, it's better to be right than quick, Linda Breathitt, a commissioner for the Federal Energy Regulatory Commission told a large industrial power consumer's group. Federal regulators recently backtracked on a December deadline for utilities to join regional transmission organizations.
  • 11/08/2001 -- BG Group PLC drills successful appraisal wells on North Sea Blake Flank
    BG Group PLC has drilled two successful appraisal wells on the Blake Flank structure in the outer Moray Firth area of the North Sea, 64 miles off Aberdeen. The wells were spudded Sept 17.
  • 11/06/2001 -- Lower gas prices push US Northeast power prices down
    Winter electricity prices in the US Northeast and the West will be lower than last year's prices, reflecting lower natural gas prices, analysts said. Even so, Energy Security Analysis Inc. said some electricity markets in the US Northeast are overpriced.
  • 11/06/2001 -- BHP-led consortium awarded exploration block off Trinidad
    Trinidad and Tobago has awarded offshore Block 3a to a group of companies led by BHP Petroleum (Americas) Inc., said partner Talisman Energy Inc., Calgary. The award is subject to final approvals and execution of a production-sharing agreement.
  • 11/02/2001 -- Pemex is forging multiple service contracts for gas exploration
    Officials at Petroleos Mexicanos SA are "working around the clock" to develop a model multiple service contract they can introduce this year to get foreign companies to help explore and develop Mexican natural gas resources early next year, an executive of the national oil company said Friday in Houston.
  • 11/02/2001 -- Petronas to begin exploration of two blocks off southeastern Bahrain
    Petronas on Thursday signed exploration and production sharing agreements for two blocks off Bahrain.
  • 11/01/2001 -- Brazil's National Petroleum Agency opens fourth licensing round
    Brazil's National Petroleum Agency has disclosed 55 areas, 15 onshore and 40 off, that it will offer for exploration next June. Nine of the onshore areas are in basins with productive fields. Of the 40 offshore areas, half are in less than 400 m of water and 18 are in more than 2,000 m.
  • 10/30/2001 -- Clyde Petroleum has gas discovery off Netherlands
    Conoco's recently acquired subsidiary, Clyde Petroleum Exploratie BV, has another gas discovery near a cluster of fields off the Netherlands.
  • 10/30/2001 -- China's Tarim basin gets discovery, additional exploration
    PetroChina Co. has a discovery in the Kuche trough of northwestern China's Tarim basin. Meanwhile, China Petrochemical Corp. is increasing exploration in the basin.
  • 10/26/2001 -- Interior Sec. Norton won't restore acreage to eastern Gulf of Mexico sale
    Despite the new push for energy security, Interior Sec. Gale Norton won't consider restoring 4.4 million acres to the planned offshore lease Sale 181 in the eastern Gulf of Mexico. The sale is scheduled for Dec. 5 in New Orleans.
  • 10/26/2001 -- US independents see continuing potential in deep, tight natural gas
    Three independent oil and gas companies told a meeting of the Independent Petroleum Association of America Friday about their focus on tight, deep gas onshore in Texas and the Rockies. Making presentations were executives from El Paso Production Co., Pure Resources Inc., and Tom Brown Inc.
  • 10/26/2001 -- CMS Energy to sell South American utility assets in strategic shift
    Taking a $613 million charge to third quarter earnings, CMS Energy Corp. said it is exiting South America and will concentrate its business in North America. The Dearborn, Mich., company reported a third quarter loss of $569 million on $2.9 billion in revenue, compared to income of $53 million, on $2.3 billion in revenue, for the comparable period last year.
  • 10/26/2001 -- MMS keeps all 20 offshore lease sales in 5-year schedule
    The US Minerals Management Service Friday proposed a 2002-07 offshore lease sale schedule that is unchanged from the draft it issued in July. The schedule calls for 20 sales: annual central and western gulf sales, two eastern gulf sales in 2003 and 2005, and eight sales off Alaska.
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