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Exploration Development 2002 P7

  • 03/04/2002 -- Latin blues
    A key part of the White House's energy strategy is to bolster ties with the US's own oil-rich neighbors, including Canada, Mexico, Venezuela, Colombia, Ecuador, and Argentina. But that policy may be strained by ongoing political turmoil in Latin America that casts doubt on whether the region can be considered a more reliable supplier than the Middle East.
  • 02/28/2002 -- Benton agrees to sell majority interest in Arctic Gas project for $190 million
    In what was described as "a turnaround move" for the debt-loaded firm, Benton Oil & Gas Co., Houston, said Thursday it agreed to sell its 68% interest in Russian-based Arctic Gas Co. to a nominee of Yukos Oil Co. for $190 million.
  • 02/25/2002 -- Drilling on the stock exchange
    Europe is currently seeing the re-emergence of stock exchange prospectors who see it more economic to acquire producing assets rather than step up their own exploration programs. In the 1980s, Britain's small exploration companies were snapped up, and now those that are left, such as Enterprise Oil PLC, are rumored to be takeover targets.
  • 02/21/2002 -- Nexen to increase holding with BP in Gulf of Mexico Aspen field
    BP PLC and Nexen Petroleum USA Inc. signed an agreement Thursday outlining terms of the development of the Aspen deepwater discovery on Green Canyon Block 243 about 150 miles south-southwest of New Orleans in the Gulf of Mexico. The discovery lies in 3,000 ft of water.
  • 02/20/2002 -- Perenco makes oil discovery off Gabon
    Perenco PLC, London, made an oil discovery in 21 m of water off Gabon. On test, the discovery well, GSA-1, flowed 6,300 b/d of 'dry' oil from a 110 m gross hydrocarbon column at a 910-1,020 m depth in the Ozouri formation.
  • 02/20/2002 -- Harken Energy charges $8.8 million Costa Rica investment against 2001 earnings
    Harken Energy Corp., Houston, said it does not expect to receive the permits needed to drill the Moin well in Costa Rica any time soon because political and regulatory conditions there have caused delays. Consequently, Harken is fully impairing its $8.8 million investment in Coast Rica in its year-end 2001 earnings.
  • 02/19/2002 -- Iran needs pipeline investment to enhance its energy market position
    Iran is positioned to be a major factor in world energy markets over the next decade if it can develop the transportation infrastructure to deliver its oil and natural gas to market, said a UK analyst at a conference on Middle East energy strategy in Tehran.
  • 02/19/2002 -- BG Group purchase of Enron Indian assets causes operatorship dispute
    BG Group PLC, the major UK oil and gas producer formed from former government-owned assets, and Oil & Natural Gas Corp. (ONGC), India's largest state-run exploration and production company, are now locked in what could develop into a long and acrimonious dispute over which firm should operate some of India's most important offshore projects.
  • 02/14/2002 -- PTT affiliate farms into SOCO's stake in two Viet Nam blocks
    PTT Exploration & Production Co. Ltd., an affiliate of partially privatized Thai company PTT PLC, will farm into SOCO Vietnam Ltd.'s share of two blocks in the Cuu Long basin off Viet Nam.
  • 02/13/2002 -- India to launch third licensing round by end of first quarter
    The Indian government will offer 25 oil and gas blocks in the third round of the New Exploration and Licensing Policy (NELP-III) before Mar. 31.
  • 02/12/2002 -- Kazakhstan invites Indian companies to join development of two fields
    Kazakhstan has offered to let Indian companies participate in the development of two oil and gas fields.
  • 02/12/2002 -- Yukos chief says Russia offers many opportunities for western oil firms
    Mikhail Khodorkovsky, CEO of OAO Yukos, says Russia continues to offer many opportunities for foreign oil production and service and supply companies.
  • 02/07/2002 -- Interior says Johnnie Burton to head US Minerals Management Service
    It's official. Secretary of Interior Gale Norton Thursday announced R.M. "Johnnie" Burton, head of the Wyoming Department of Revenue since 1998, will be the director of the US Minerals Management Service effective Mar. 15. Government and industry sources speaking on condition of anonymity first revealed the decision last month (OGJ Online, Jan. 8, 2002).
  • 02/07/2002 -- CNRL, Tullow, Petroci bring Espoir field off Ivory Coast on stream
    Canadian Natural Resources Ltd., Calgary, has begun production from one well at Espoir field on CI-26 off Ivory Coast at 8,500 b/d of oil. Production to the floating production, storage, and offloading vessel Espoir Ivoirien will increase to 30,000 b/d by the end of the third quarter.
  • 02/07/2002 -- Alaska sets 5-year area-wide leasing plan for state oil lands
    Alaska has set a 5-year area-wide leasing program for state lands in the Cook Inlet, Beaufort Sea, North Slope, and North Slope Foothills areas.
  • 02/06/2002 -- IFP sees geopolitical problems in developing oil beyond 200-mile zone
    Development of oil in waters beyond the 200-mile economic zone will raise some difficult geopolitical questions, the Institut Français du Pétrole has been told.
  • 02/05/2002 -- Carigali Overseas takes another Equatorial Guinea block
    Carigali Overseas Sdn. Bhd., an affiliate of Petronas, has signed another production-sharing agreement with Equatorial Guinea for Corisco Bay Block N in the Rio Muni basin, said block partner Ocean Energy Inc., Houston.
  • 02/05/2002 -- Petroleos de Venezuela to explore for gas in offshore Orinoco Delta
    Petroleos de Venezuela SA (PDVSA) has begun a $375 million, 2-year exploration program in the waters of the Orinoco Delta, hoping to add natural gas reserves to meet internal and export needs.
  • 02/01/2002 -- Hunt Oil subsidiary makes winning bid for Peel Plateau exploration rights in Canada
    Hunt Oil Co. of Canada Inc., a subsidiary of privately held Hunt Oil Co., Dallas, was awarded oil and gas exploration rights in the Peel Plateau of northwest Canada by Yukon province officials Friday.
  • 01/31/2002 -- Statoil applies electromagnetic wave technology to offshore exploration
    Statoil ASA has formed a company, Electromagnetic GeoServices, to develop electromagnetic wave technology to search for oil and gas.
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