-- OVL signs pact with Turkish firm for Libya blocks ONGC Videsh Limited (OVL), the wholly owned subsidiary of the Indian government-owned Oil & Natural Gas Corp. (ONGC), has signed a farm-out agreement with Turkish Petroleum Overseas Corp.
-- Sibneft signs service agreement with Baker Hughes OAO Sibneft has signed an agreement with Baker Hughes Inc., Houston, under which the two firms will establish an operational center at Sibneft's upstream base in the Noyabrsk area of Western Siberia.
-- BP Trinidad & Tobago makes 1 tcf gas discovery BP Trinidad & Tobago (BPTT), Port of Spain, Trinidad, has announced the discovery of 1 tcf of gas (180 million boe) in its Iron Horse field off the east coast of Trinidad and Tobago.
-- K2 field find proved in deepwater Gulf of Mexico A confirmation well that Agip Petroleum Co. spudded in April in K2 fieldon Green Canyon Block 562 in the Gulf of Mexicohas increased the field's estimated reserves to more than 100 million bbl of oil, Agip said, enabling the owners to start production in 2004. The field is 180 miles south of New Orleans.
-- Bolivia Orca Petroleum Inc., Calgary, acquired with YPFB approval, a 12.5% working interest in the Villamontes Block in southern Bolivia for $287,500 and is seeking other oil investments in the country.
-- Texas Vintage Petroleum Inc., Tulsa, plans to start a multiwell drilling program in fourth quarter 2002 aimed at gas in low-permeability Devonian carbonates in the Val Verde basin (OGJ, Feb. 11, 2002, p. 40).
-- Appalachian Penn Virginia Corp. and CDX Gas LLC, Dallas, will explore for and develop coalbed methane and Devonian shale on a 16,000 sq mile area of mutual interest in an unspecified area or areas of Central Appalachia.