Exploration Development 2001 P

10/24/2001 -- Lukoil plans major investments with 5-year plan for Uralsky district
Lukoil, Russia's biggest oil company, plans to invest 20-25 billion rubles ($678-847 million) in the Uralsky federal district over the next several years to expand production of oil and natural gas production and to improve refining operations.
10/23/2001 -- IEA study: World energy reserves ample for 20 years and beyond
An International Energy Agency study said Tuesday that the world has ample energy reserves for the next 20 years and for decades beyond that. But it said massive investments will be required to develop them -- as much as a cumulative $500-600 billion for incremental oil production capacity alone by 2010.
10/23/2001 -- Ongoing complaints by native groups cloud British Columbia exploration
Unresolved disputes over land access and aboriginal treaty rights could hamper the approaching winter drilling season in northeastern British Columbia. The area includes the Ladyfern region, where one of the hottest natural gas plays in North America is ramping up.
10/23/2001 -- Banks grant $183 million in financing for Tanzanian gas project
The London-based European Investment Bank and the World Bank have awarded a grant to the International Development Association (IDA) to make available to Tanzania a $183 million credit for the Songo Songo gas project.
10/23/2001 -- BP chairman says energy industry is thrust into globalization debate
Peter Sutherland, BP PLC chairman, has told the World Energy Congress the oil industry must continue to play a key role in world trade and economic growth.
10/22/2001 -- DOE to spend $30 million on methane hydrate research
The US Department of Energy plans to spend $30 million on six methane hydrate research projects. ChevronTexaco Corp. and BP PLC will receive most of the money to study production in the Gulf of Mexico deep water and Alaskan North Slope, respectively. DOE also plans to give research money to universities, drilling companies, and government ocean experts to tackle technical and safety issues.
10/22/2001 -- Kerr-McGee has deepwater gas field at Red Hawk prospect in gulf
Kerr-McGee Corp. said Monday it has a gas-condensate discovery at its Red Hawk prospect in the deepwater Gulf of Mexico.
10/22/2001 -- Qinhuangdao field brought on stream in China's Bohai Bay
Qinhuangdao field, developed by China National Offshore Oil Corp. Ltd., BP PLC, and ChevronTexaco Corp., came on stream in Bohai Bay.
10/19/2001 -- TotalFinaElf to develop two gas fields off Tierra del Fuego
TotalFinaElf SA has announced plans to develop Carina and Aries gas fields off Tierra del Fuego in Argentina at a cost of $400 million.
10/18/2001 -- AEC joins Conoco in deepwater Gulf of Mexico exploration
Conoco Inc. has signed a deepwater Gulf of Mexico exploration joint venture agreement with AEC Gulf of Mexico Inc. The agreement overlaps with some prospects included in a similar September agreement with Norsk Hydro USA Oil & Gas Inc. Conoco said the joint ventures are part of a strategic development plan.
10/16/2001 -- API says industry not ready to quit fight for comprehensive energy bill
The American Petroleum Institute said Tuesday its members are still pushing Congress to pass a comprehensive energy bill this year, although political realities may make that a difficult goal.
10/16/2001 -- Philippines sets energy policy relying on Malampaya field gas output
As the Philippines inaugurated its first gas field Tuesday, President Gloria Marcapagal-Arroyo unveiled an energy strategy centered on natural gas. She said the plan will largely depend on new price negotiations with producers.
10/15/2001 -- Rocky Mountain Gas adds 20 Wyoming coalbed methane wells
Rocky Mountain Gas Inc. and partners have completed 20 coalbed methane wells in Wyoming and plan up to drill up to 25 more this fall.
10/15/2001 -- SOCO completes four-hole program in Mongolia's Tamtsag basin
SOCO International PLC, London, has concluded its four-well 2001 drilling program in the Tamtsag basin in Mongolia. Success rate was 75%, prompting a drilling company to exercise its option for a 10% stake.
10/15/2001 -- OVL of India seeking participation in 14-15 international projects
ONGC Videsh Ltd., a unit of Indian company Oil & Natural Gas Corp., is negotiating participation in 14-15 oil properties abroad.
10/15/2001 -- PTTEP to build offshore supply base in southern Thailand
PTT Exploration & Production PCL will build a supply base in Songkhla, a southern province of Thailand, to support its extensive natural gas development in the Gulf of Thailand.
10/15/2001 -- ONGC, IOC, and GAIL form partnership for international projects
Three Indian government-owned companies -- Oil & Natural Gas Corp., Indian Oil Corp., and Gas Authority of India Ltd. -- have agreed to form a partnership for overseas operations.
10/15/2001 -- Shell probing oil reserves at Malampaya field off Philippines
On the eve of the official inauguration of the $4.5 billion Malampaya deepwater gas-to-power project in the Philippines, operator Shell Philippines Exploration plans to begin tests on an exploration well that it hopes will provide better data on the 50 million bbl of oil reserves.
10/12/2001 -- Gas acquisitions 'round out' Mirant portfolio, CEO says
Mirant Corp. CEO Marce Fuller Friday said this week's natural gas acquisitions 'integrate perfectly' into the independent power producer's generation portfolio by providing assured physical gas supply many times its own needs. Mirant said it will buy TransCanada's gas marketing unit and an interest in 18 gas and oil producing fields.
10/11/2001 -- First Choice Power calls for delay in Texas market opening
Citing numerous problems, Texas electricity retailer First Choice Power Inc. Thursday called for a delay of the January 2002 opening of the market, if certain conditions aren't met. First Choice said serious deficiencies with customer billing, switching, inaccurate wholesale bills for power, and services from the Texas independent system operator have to be corrected before the market opens.

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Exploration Development 2001 P