Exploration Development 2002 P

05/08/2002 -- Sasol expands oil, gas exploration interests in Equatorial Guinea
Sasol Petroleum International (Pty.) Ltd. has signed a contract with Atlas Petroleum International Ltd., for Sasol to assume a 20% interest in Block H in the Rio Muni basin in Equatorial Guinea; exploration drilling is slated for next year. Sasol also negotiated a seismic option on I & J blocks, near Bioko Island.
05/01/2002 -- Devon, Petro-Canada announce significant gas test in Mackenzie Delta
Devon Energy Corp., Oklahoma City, and Petro-Canada, Calgary, announced in late April significant natural gas flows from the Tuk M-18 well 15 miles south of Tuktoyaktuk in the Mackenzie Delta of Canada's Northwest Territories. The well was drilled 9,850 ft into the Cretaceous Kamik sands.
05/01/2002 -- EnCana Corp. units acquire US Rockies acreage from El Paso Corp.
Units of EnCana Oil & Gas (USA) Inc. will acquire 338,000 net acres of land holdings in the Northwest Colorado Rocky Mountains containing natural gas and NGL reserves from El Paso Corp., Houston, for $461 million (Can.) in cash.
05/01/2002 -- BLM to hold NPR-A lease sale June 3
The US Department of Interior's Bureau of Land Management said Apr. 29 it will hold a National Petroleum Reserve-Alaska (NPR-A) lease sale June 3 in Anchorage. The bid deadline is May 31.
04/22/2002 -- Statoil makes new oil find near Norne
Statoil has made an oil discovery in the Stær structure about 3 km northeast of the firm's Norne field in the Norwegian Sea; its oil quality is similar to that of Norne's. The find could contribute to a unitized development of several reservoirs in the area. Its commerciality will now be assessed.
04/22/2002 -- Agip spuds wildcat on China's Sebei block
Agip China BV has begun drilling its first exploration well on the natural gas-prone Sebei block in northwestern China's Qaidam basin. Drilling is expected to conclude in July on the well, which is designed to reach TD at 4,650 m. Agip is the only foreign company currently undertaking onshore exploratory drilling for oil and gas in China, the company said.
04/22/2002 -- India to offer 27 blocks under NELP-III
The Indian government will hold road shows in four cities during May and June to offer 27 blocks for oil and gas exploration under the third round of its New Exploration and Licensing Policy. The meetings will be held in Singapore May 27-28, London June 6-7, Houston June 10-11, and Calgary June 13-14.
04/22/2002 -- Pacific Tiger receives financing for new Thailand drilling
A Pacific Tiger Energy Inc. joint venture has entered into a $2 million financing agreement with Gemini Oil & Gas Ltd., an oil and gas finance group, to fund a multiwell exploitation program in Wichian Buri oil field, onshore Thailand. Up to four development wells will be drilled, starting in the second half of this year.
04/17/2002 -- Industry-government JV to evaluate gas hydrates potential in Gulf of Mexico
Industry is cooperating with the US government to exploit a massive unconventional gas resource in the Gulf of Mexico: gas hydrates. ChevronTexaco Corp., the National Energy Technology Laboratory, and the US Department of Energy will team up for the Gulf of Mexico Gas Hydrates Joint Industry Project (JIP), which will study naturally occurring gas hydrates in the gulf.
04/16/2002 -- Forest Oil drills record well in Redoubt Shoal; estimates reserves at 100 million bbl
Forest Oil Corp., Denver, announced the Redoubt No. 4 delineation well in Redoubt Shoal field was drilled to 20,203 ft, making it the deepest deviated well drilled in the Cook Inlet of Alaska.
04/16/2002 -- Unocal reports strong oil, gas flows from deepwater Ranggas well off Indonesia
Unocal Corp. subsidiary Unocal Rapak Ltd. reported strong oil and natural gas flows from an appraisal well in the deepwater Ranggas oil field off Indonesia. "The test results are another step towards commercializing our third deepwater oil field in Indonesia," said Brian Marcotte, president of Unocal Indonesia Co.
04/15/2002 -- Panel: offshore industry grappling with challenges amid more-frequent market cycles
The offshore oil and gas industry's ability to grapple with the many issues facing it is being tested by continuing—and briefer—boom and bust cycles. Fluctuating market fundamentals, advances in offshore equipment, exploration and development moving more into deep water, safety, and personnel retention top these concerns.
04/11/2002 -- Interior clarifies NPR-A drilling and leasing regulations
The US Department of Interior's Bureau of Land Management Apr. 11 published a final rule clarifying drilling and leasing activities in the NPR-A. The final rule, implements recent changes in a law that governs oil and gas activities in the NPR-A, US officials said.
04/10/2002 -- Ocean Energy, Kerr-McGee discover natural gas at Merganser
Ocean Energy Inc. and Kerr-McGee Corp. announced a deepwater natural gas discovery at their Merganser prospect ionAtwater Valley Block 37 in the Gulf of Mexico. Each company holds a 50% working interest in the block operated by Kerr-McGee. The 1 OCS 21826 discovery well was drilled to 21,268 ft encountering 150 ft of gas pay in 7,900 ft of water.
04/09/2002 -- Mallon, Smart Exploration announce coalbed methane joint venture
Mallon Resources Corp., Denver, and Smart Exploration Inc., Tulsa, have agreed to form a joint venture to explore and develop the Fruitland formation coal seams under Mallon's East Blanco prospect in New Mexico's San Juan basin.
04/08/2002 -- Aker Kvaerner JV awarded topsides contract for White Rose FPSO
Husky Oil Operations Ltd., operator of the White Rose oil field project, and its partner Petro-Canada announced plans to proceed with the White Rose development off the eastern coast of Canada and have awarded a $400 million engineering, procurement, and construction contract for all topsides facilities to Aker Maritime Kiewit Contractors (AMKC). The awarding of the other main contracts will be finalized and announced shortly, said Husky.
04/05/2002 -- Repsol-YPF outlines Canary Islands exploration program
Repsol-YPF SA said it has presented to the Fuerteventura local authorities plans for oil and gas exploration in the Atlantic Ocean off the Canary Islands. Early last year, Repsol-YPF was seeking government permission to explore for oil on nine blocks comprising 6,160 sq km in the waters surrounding the islands (OGJ, Mar. 12, 2001, p. 39).
04/04/2002 -- Unocal Corp. cuts price of sales gas to Thailand's PTT
Yielding to prolonged political pressure, Unocal Corp has agreed to cut the price of natural gas it sells to PTT PLC, the partially privatized Thai energy firm. The reduction, by about 5¢/Mcf of gas or 2% of the prevailing wellhead prices, will cost the US energy firm 12-13 billion baht ($272-295 million) in lost revenue over the next 10 years.
04/03/2002 -- ChevronTexaco's Tahiti oil find in Gulf of Mexico 'significant'
ChevronTexaco Corp. reported what it is calling a "significant" oil discovery with its Tahiti prospect on Green Canyon Block 640, 190 miles southwest of New Orleans in the Gulf of Mexico.
04/03/2002 -- BP, Shell let contracts to Aker Kværner for Gulf of Mexico ultradeepwater, UKCS projects.
BP PLC and Shell UK Exploration & Production have awarded contracts to new company Aker Kværner, for equipment to be installed in the ultradeepwater Gulf of Mexico and on the UK Continental Shelf. Aker Kværner is the company formed from the merger of Aker Maritime and Kværner AS.

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Exploration Development 2002 P