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Exploration Development 2001 P7

  • 09/04/2001 -- FERC approve PJM caps for must-run units in real time
    Over the objections of generators, federal regulators ruled PJM Interconnection LLC, the mid-Atlantic grid operator, can impose prices caps on must-run units in the real-time as well as day-ahead electricity markets. The Federal Energy Regulatory Commission said 'absent the authority to cost-cap in real time, consumers would be subject to the exercise of market power by generators.'
  • 09/04/2001 -- Unocal encouraged by two wells at Ranggas prospect off Indonesia
    Unocal Corp. said Tuesday its Unocal Rapak Ltd. subsidiary has drilled two successful appraisal wells on the Ranggas prospect in the southern part of the Rapak Production-Sharing Contract area off East Kalimantan, Indonesia.
  • 09/04/2001 -- UK Energy Minister presses for faster development of offshore fields
    A push to move UK North Sea acreage into the hands of operators inclined to conduct immediate exploration and development work drew early attention from government and industry officials at the Offshore Europe conference in Aberdeen.
  • 09/04/2001 -- Friendly neighbors
    Today's energy worries are a hemispheric, not a country-specific problem.
  • 08/29/2001 -- Norway seeks bids for Norwegian Sea exploration blocks
    The Norwegian Ministry of Petroleum and Energy has asked oil companies to propose by Sept. 28 any Norwegian Sea blocks they want included in the 17th offshore licensing round. Winning bids would be awarded in the fourth quarter and production licenses early next year.
  • 08/28/2001 -- Australia awards two oil companies new Carnarvon basin permit
    Australia and Western Australia state have awarded the Carnarvon basin permit WA-310-P for area W00-56 to a joint venture of West Oil NL, Perth, and Bounty Oil & Gas NL.
  • 08/27/2001 -- CNOOC Ltd. to acquire Xihu Trough holding from parent
    CNOOC Ltd. agreed to acquire a 50% holding in the Xihu Trough area of the East China Sea from parent company China National Offshore Oil Corp. for $45 million. The deal awaits approval from the Chinese government.
  • 08/27/2001 -- Santos farms in to Madura PSC
    Australian operator Santos Ltd. agreed to farm in to the 4,246 sq km Madura offshore production sharing contract in the Madura Strait, East Java. The farm-in agreement gives Santos (Madura Offshore) Pty. Ltd. the operatorship of and 75% interest in the PSC.
  • 08/27/2001 -- CNOOC finds gas with Liuhua 19-3 wildcat
    CNOOC Ltd. said it made a gas discovery in the South China Sea with Liuhua 19-3-1 wildcat. The well, about 70 km from the producing Liuhua 11-1 oil field, was spudded in June and drilled to 1,500 m TD.
  • 08/24/2001 -- PetroChina to double Sulige field proved reserves to 500 billion cu m by yearend
    PetroChina Co. expects to more than double the proven gas reserves of Sulige field in northwestern China's Ordos basin to 500 billion cu m by yearend. The company has drilled 16 wells at the 20,000 sq km Sulige field in the first 7 months this year.
  • 08/24/2001 -- Pakistan awards Sindh concession to Hycarbex
    Pakistan awarded Hycarbex-American Energy Inc. the Yasin concession in the Sindh province of Pakistan, said Hycarbex parent company The American Energy Group Ltd., Houston.
  • 08/23/2001 -- CNOOC makes another Wenchang find in Pearl River Mouth
    CNOOC Ltd. made an oil and gas discovery with Wenchang 15-1 in the Pearl River Mouth Basin in the Western South China Sea. CNOOC plans to drill appraisal wells in the area next year. It said the structure covers 18.5 sq km.
  • 08/21/2001 -- Tanganyika plans Egyptian exploration program
    Canadian company Tanganyika Oil Co. Ltd. plans a three-well exploration program on its West Gharib Block on the western coast of the Gulf of Suez, Egypt, starting in late fall. Tanganyika subsidiary Dublin International Petroleum (Egypt) Ltd., operates Hana oil field in West Gharib.
  • 08/17/2001 -- Indiana regulatory staff calls for electric service quality rules
    Over industry objections, the staff of the Indiana Utility Regulatory Commission recommended the commission set rules for service quality in a new assessment of the state electric power industry. Utilities said the action was unnecessary because they already have an obligation to provide reasonably adequate service.
  • 08/17/2001 -- Lone Star buying North Star's tubular division for $430 million
    Lone Star Technologies Inc. is buying the tubular steel division of North Star Steel Co. for $430 million. The division makes line pipe, standard pipe, mechanical pipe, coupling stock, and casing that are used primarily in the oil and gas exploration and transmission industry.
  • 08/16/2001 -- Venezuela formally issues exploration licenses for six gas-prone blocks
    Venezuelan Executive Vice-Pres. Adina Bastidas and Energy and Mines Minister Alvaro Silva Calderon formally have issued licenses to the winners of a recent tender for the exploration of six gas-prone blocks.
  • 08/14/2001 -- Smith International Inc. and Sandvik AB form industrial drill bit JV
    Smith International Inc., Houston, and Sandvik AB of Sweden announced Tuesday a joint venture to design, manufacture, and market roller-cone and specialty drill bits for the mining and construction industry.
  • 08/13/2001 -- Sonatrach, BP award $2.5 billion in contracts for In Salah development
    Algerian state oil and gas company Sonatrach, in association with BP PLC, on Sunday awarded three contracts worth a total of $2.5 billion to an international consortium for the development of Algeria's In Salah gas fields, said the Organization of Petroleum Exporting Countries' news agency.
  • 08/13/2001 -- Conoco and partners to develop Sutu Den oil discovery off Viet Nam
    Conoco and its partners in Block 15-1 off Viet Nam have declared that Sutu Den discovery is commercial. First production is expected in less than 3 years.
  • 08/13/2001 -- MarkWest doubles reserves by acquiring two Canadian companies
    MarkWest Hydrocarbon Inc., Englewood, Colo., has acquired two Canadian exploration and development companies for $51 million (US). MarkWest said the deal will more than double its reserves to 63 bcfe.
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