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Exploration Development 2001 P9

  • 07/18/2001 -- Norsk Hydro awards Coflexip letter of intent for Fram Vest project
    Norsk Hydro AS has awarded Coflexip Stena Offshore Norge AS a letter of intent for an 80 million euro ($68.4 million) engineering, procurement, construction, and installation contract for a development in the North Sea.
  • 07/17/2001 -- Centurion to acquire TransAtlantic concession stakes in Egypt
    Centurion Petroleum Corp., the Egyptian arm of Centurion Energy International Inc., Calgary, has signed a letter of intent to acquire stakes in two concessions in Egypt from TransAtlantic Petroleum Corp.
  • 07/16/2001 -- CanBaikal awards letter of intent for Russia development
    CanBaikal Resources Inc., Calgary, has awarded a letter of intent to Schlumberger Oilfield Services, a division of Schlumberger Ltd., New York City, for an integrated project management program on its 400-sq-km Untegey Block in Russia.
  • 07/13/2001 -- Mariner Energy makes discovery at Yosemite in Gulf of Mexico
    Mariner Energy Inc., Houston, has a discovery on the Yosemite prospect on Green Canyon 516 in the Gulf of Mexico that it plans to tie back 16 miles to the Allegheny development.
  • 07/13/2001 -- BG hits gas at Rose prospect in southern North Sea
    BG Group PLC has a gas discovery on Block 47/15b in the southern North Sea. The Rose R2 is in the Leman sand play fairway 55 km east of the Easington Terminal and 8 km northeast of Amethyst field. The well flowed 30 MMscfd of gas and 90 b/d of condensate on a 68/64-in. choke during testing.
  • 07/13/2001 -- BP makes fifth gas find in 2 years in western Nile Delta
    BP PLC has made its fifth gas find in 2 years in the western Nile Delta with the Libra K-1x well off the north coast of Egypt. The well, in 450 m of water, discovered gas in five separate zones, one of which was tested as rate of 22.3 MMscfd with a gas condensate ratio of 7.6 bbl/MMscf.
  • 07/12/2001 -- MMS sets controversial eastern gulf lease Sale 181 for Dec. 5
    The US Minerals Management Service said Thursday it plans to hold offshore lease Sale 181, offering tracts in the Eastern Gulf of Mexico, on Dec. 5 in New Orleans. Interior Sec. Gale Norton recently deleted 75% of the tracts that MMS had planned to offer.
  • 07/12/2001 -- PanCanadian awards Deep Panuke FEED contract
    PanCanadian Petroleum Ltd. awarded a contract for the front-end engineering design of its Deep Panuke natural gas field development to a joint venture of contracting companies. The amount of the contract awarded to ACCENT-Saipem Energy Joint Venture was not disclosed.
  • 07/12/2001 -- Statoil spuds first exploratory well off Faroe Islands
    Statoil Faerøyene AS Wednesday spudded a wildcat to test the deepwater Longan prospect off the Faroes, the first well off the self-governing Danish islands. The well is in 941 m of water on license 003 in the Atlantic Margin near the UK continental shelf.
  • 07/11/2001 -- Cultus, OMV awarded North West Shelf permits
    The state of Western Australia and the federal government have awarded two permits off Western Australia to a consortium of Cultus Timor Sea Pty. Ltd. and OMV Petroleum Pty. Ltd., said the federal Ministry for Industry, Science, and Resources.
  • 07/11/2001 -- Republicans push energy bill but admit ANWR is uphill battle
    Republican leaders on Capitol Hill, backed by the Bush administration, Wednesday began a renewed but uphill campaign to pass legislation opening the Arctic National Wildlife Refuge coastal plain for exploration. The House Resources Committee began a hearing on energy policy reform legislation.
  • 07/11/2001 -- Mitsubishi buys Occidental's stake in Tangguh field off Indonesia
    Tangguh project partner BP PLC Wednesday welcomed the decision by Japan's Mitsubishi Corp. to buy Occidental Berau of Indonesia Inc.'s 16% stake in the gas field off Indonesia as improving the prospects of marketing the development's future production into Asia Pacific.
  • 07/10/2001 -- Repsol-YPF outlines 5-year strategic plan
    Repsol-YPF SA, Madrid, unveiled a 5-year strategic plan that will require it to invest 23.1 billion euros ($19.6 billion). By the end of 2005, the company plans to reduce debt levels to 30-35%, achieve a minimum return on capital employed of 15%, and increase oil and gas production 7.8%/year.
  • 07/10/2001 -- Development work awarded for Lakshmi field off India
    Partners in Lakshmi field off India have awarded a consortium of Australian company Clough Engineering and Hyundai Heavy Industries Co. Ltd. of South Korea an $80 million contract to develop the field.
  • 07/09/2001 -- Colorado regulators consider overhaul of electric rules
    The Colorado Public Utilities Commission is considering doing away with existing rules for forecasting and planning for the state's electric generation needs. Comments are due Monday on questions posed by the PUC about the adequacy of the integrated resource planning rules first adopted in 1992.
  • 07/09/2001 -- Statoil signs long-term deal to supply Norwegian gas to the UK
    Statoil AS said Monday that it has signed a 15-year deal to supply BP PLC up to 1.6 billion cu m/year of natural gas across the North Sea to the UK. It is the first such major deal since since the Frigg field contract in 1977.
  • 07/06/2001 -- Nuevo says development off California again delayed
    Nuevo Energy Co., Houston, said a court ruling has again delayed plans to develop its leases off California. It said this type of delay reinforces the need to implement rule-streamlining outlined in the White House's National Energy Policy plan.
  • 07/05/2001 -- Eni produces Congo offshore field in record time
    Eni SPA began production from Foukanda field off Congo (Brazzaville) in record time for that area, company officials said Thursday.
  • 07/05/2001 -- PanCanadian confirms 'world class' Buzzard find off UK
    PanCanadian Petroleum Ltd. Wednesday said a sidetrack well drilled on its Buzzard discovery in the UK central North Sea has confirmed a hydrocarbon accumulation "on par with the top tier" in the province with between 200-300 million bbl of oil. The sidetrack from the discovery well encountered hydrocarbon-bearing reservoir sands that matched those of the original wellbore.
  • 07/02/2001 -- Bongkot consortium looks to other concession reservoirs
    The Bongkot consortium is considering developing its three other gas reservoirs in southern Gulf of Thailand as part of a strategy to boost overall gas and condensate output. However, lack of gas demand in Thailand will likely delay production starts for Ton Nok Yoon, Ton Koon, and Bongkot South until 2007-08, when gas demand is expected to increase.
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