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Exploration Development 2002 P

  • 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.
  • 02/26/2002 -- Former execs from Shenandoah Energy, Cody Energy form Ox Bow Energy
    Former executives of Shenandoah Energy Inc. and Cody Energy LLC said Monday they have formed a new firm, Ox Bow Energy Corp. All three companies are based in Denver.
  • 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.
  • 02/15/2002 -- Low market prices and terrorism torpedo US imports of LNG
    US imports of liquefied natural gas (LNG) have plummeted since September with the collapse of domestic gas prices and increased security concerns about such facilities in the wake of the Sept. 11 terrorist attacks.
  • 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 -- Sofresid, Foster Wheeler to perform Dolphin upstream FEED contract
    Dolphin Energy Ltd., which operates the $3.5 billion Dolphin gas project, has awarded a joint venture of Sofresid, a subsidiary of Bouygues Offshore SA, and Foster Wheeler Ltd. a $10 million front end engineering design contract for the upstream facilities for Dolphin.
  • 02/13/2002 -- Chevron, partners defer development of Hebron field off Newfoundland
    Chevron Canada Resources Ltd. and its partners have decided to stop evaluating the Hebron project off the eastern coast of Canada. They have been evaluating the project for 2 years.
  • 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.
  • 02/13/2002 -- Mitsui acquires Fortum's 35% stake in Omani concession
    Mitsui & Co. Ltd. and affiliate Mitsui Oil Exploration Co. Ltd. have agreed to buy Fortum Oil & Gas Oy's 35% interest in Suneinah producing concession in Oman for 180 million euros.
  • 02/12/2002 -- Utility executives differ over power generation fuel of choice
    Energy executives touted gas, coal, and nuclear as the fuel choices of the future for power generation and downplayed renewable resources Tuesday at UBS Warburg's global energy and utilities conference in New York.
  • 02/12/2002 -- Brunei grants offshore exploration Block J to TotalFinaElf
    Brunei has awarded the exploration of offshore Block J to a group led by French company TotalFinaElf SA.
  • 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).
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