GeoPetro Resources extends Bengara-II appraisal

Uchenna Izundu
International Editor
LONDON, Dec.22 — The Indonesian government granted GeoPetro Resources Co. a 1-year extension to 2010 to submit its work program and 2009 budget to appraise and evaluate commerciality of an oil discovery on Bengara-II Block, Tarakan basin, onshore East Kalimantan.

The oil discovery was made last year on the Seberaba prospects, and the approval could be extended for subsequent years subject to approvals based on an annual review of progress and results of appraisal work, said GeoPetro Resources.

GeoPetro's 12% owned subsidiary Continental-GeoPetro (Bengara-II) Ltd. (CGB2) will carry out the work.

If CGB2 decided to move to development, it can draw up a commercial development plan. If the government approves the development plan, Bengara-II Block will be held for a 30-year term through December 2027.

"The majority 70% shareholder and manager of CGB2, CNPC (Hong Kong) Ltd., has called a shareholders meeting for mid January 2009 to discuss appraisal plans which are expected to include a 3D seismic program," GeoPetro said.

Contact Uchenna Izundu at uchennai@pennwell.com

Related Articles

Gas plant boosting East Texas field flow

11/12/2007 Madisonville Gas Processing started up a gas treatment plant expansion at Madisonville field in Madison County 100 miles north of Houston to handle...

Indonesia's Tarakan basin draws attention

06/14/2007 Indonesia's Tarakan basin, where exploration dates to 1897, is enjoying more drilling after the testing earlier this year of its first deepwater di...

Continental, GeoPetro form joint venture

12/06/2005 Continental Energy Corp., Dallas, and GeoPetro Resources Co., San Francisco, have formed an equally shared joint venture company, CG Xploration Inc...

Area Drilling

01/20/2003 GeoPetro Resources Co., San Francisco, submitted to Indonesia's BPMIGAS agency a work program for the 2.4 million acre Yapen block production shari...

DOE to fund projects aimed at extending field lives

05/19/2000 In the fourth and final round of a program to help small producers, the US Department of Energy will provide grants to five companies with proposal...
White Papers

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by
Available Webcasts


OGJ's Midyear Forecast 2015

When Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Predictive Analytics in your digital oilfield - Optimize Production Yield and Reduce Operational Costs

When Tue, Jul 7, 2015

Putting predictive analytics to work in your oilfield can help you anticipate failures, plan and schedule work in advance, eliminate emergency work and catastrophic failures, and at the same time you can optimize working capital and improve resource utilization.  When you apply analytic capabilities to critical production assets it is possible to reduce non-productive time and increase your yield.

Learn how IBM's analytics capabilities can be applied to critical production assets with the goal of reducing non-productive time, increasing yield and reducing operations costs.

register:WEBCAST



On Demand

Cognitive Solutions for Upstream Oil and Gas

Fri, Jun 12, 2015

The oil & gas sector is under pressure on all sides. Reserves are limited and it’s becoming increasingly expensive to find and extract new resources. Margins are already being squeezed in an industry where one wrong decision can cost millions. Analyzing data used in energy exploration can save millions of dollars as we develop ways to predict where and how to extract the world’s massive energy reserves.

This session with IBM Subject Matter Experts will discuss how IBM Cognitive Solutions contribute to the oil and gas industry using predictive analytics and cognitive computing, as well as real time streaming for exploration and drilling.

register:WEBCAST


The Alternative Fuel Movement: Four Need-to-Know Excise Tax Complexities

Thu, Jun 4, 2015

Discussion on how to approach, and ultimately embrace, the alternative fuel market by pulling back the veil on excise tax complexities. Taxes may be an aggravating part of daily operations, but their accuracy is crucial in your path towards business success.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected