Kerr-McGee Benin Consortium SA, a subsidiary of Kerr-McGee Corp., Oklahoma City, acquired 100% working interest in 2.5 million acre Block 4 off the West African country of Benin. The license covers all of Benin's deepwater offshore, in 300-10,000 ft of water in the Bight of Benin between Togo and Nigeria.
Ghana National Petroleum Co. restarted oil and gas production from Saltpond field 120 km southwest of Accra.
Saltpond was producing a combined 2,000 b/d from two of seven wells. The field's gas has not been utilized.
The field produced from 1977 to the late 1980s. Press reports indicated it has about 1 million bbl of reserves remaining.
Nuevo Energy Co., Houston, hopes to drill its first wildcat on the 2.7 million acre Accra-Keta Permit soon (OGJ Online, Nov. 6, 2000). Dana Petroleum PLC plans to run a 3D seismic survey and conduct other work on its West Tano contract area 20 miles offshore.
Low pressure has reduced production at Agha Jari, long one of the country's most important oil fields, deputy director of National Iranian Oil Co. (NIOC) said.
Mir-Mo'izi said Agha Jari output has fallen to 200,000 b/d from 1 million b/d in previous years and will fall further if urgent measures are not taken. He said the pressure drop has affected 161 wells.
With gas injection NIOC could reverse the decline and wring another 1.2 billion bbl before idling Agha Jari, he added.
Uzenmunaigas, a subsidiary of state Kazakhoil, awarded Gaffney, Cline & Associates, Dallas, a 2-year contract to provide project management services for a rehabilitation project at giant Uzen oil field.
Uzen has produced 2 billion bbl of oil since startup in 1965. GCA estimates remaining reserves at as much as 850 million bbl. The field, in the Mangyshlak Province of southwest Kazakhstan 100 miles from the Caspian Sea, has produced from Jurassic sandstone at about 2,600 ft.
Two companies signed to convert reconnaissance permits to exploration permits, the first since Shell was awarded an exploration permit earlier this year.
Vanco Energy Co., Houston, will operate the Safi Haute Mer Permit where it holds 100% interest and the Ras Tafelney Permit, where Lasmo PLC, London, holds 40%, in the Essaouira basin.
The new permits call for 3D seismic acquisition and one well on each block within 3 years. A 3,000 sq km 3D survey is to start in late March 2001, aimed mostly at a toe thrust trend that crosses both blocks.
The blocks total 8.4 million acres. The firms identified at least 35 leads, mostly in Cretaceous.
Camago and Malampaya gas fields are expected to begin producing 20,000-25,000 b/d of oil by April 2001, Energy Sec. Mario Tiaoqui told the press.
Volume is likely to increase to 50,000-55,000 b/d in 2 years.
Shell Philippines Exploration BV, Texaco Inc., and Philippine National Oil Co. plan to exploit the gas reservoirs later.
Reserves at the fields west of Palawan Island are 50 million bbl of oil and 2.6 tcf of gas.
Madison Oil Co., Dallas, Tex., has agreed to purchase BP subsidiary ARCO Turkey Inc. for an undisclosed sum.
ARCO Turkey has 19.6% working interest in Cendere field in south central Turkey. The field, operated by Turkish National Oil Co., has produced 12.7 million bbl and was making 2,600 b/d of oil from 13 wells-540 b/d net to ARCO. Field partners will spud the Cendere 17 development well this month.
Madison Oil, formerly Trans-Dominion Energy Corp., owns an interest in 2.1 million acres in four geologic provinces in Turkey and has a 12.5% royalty interest in Zeynel oil field in southeast Turkey's Gaziantep region.
GHK/Potato Hills LP is selling an average 36% working interest and 28% net revenue interest in Potato Hills dry gas field, Latimer and Pushmataha counties in the Ouachita overthrust.
GHK's net production is 75 MMcfd of the gross production of 120 MMcfd from 16 wells. GHK is the sole operator. Capacity of the gas pipeline connected to the property is 250 MMcfd.
The field produces from the highly fractured Jackfork series at 3,700-7,100 ft. Some 60% of the reserves are proved developed producing. GHK retained Madison Energy Advisors Inc., Houston, to evaluate and sell the interests.
The acquisition gives Cross Timbers more than 500 potential drilling locations in the Travis Peak, Cotton Valley sand, Bossier sand, and Cotton Valley lime formations.
The firm will hike its 2001capital budget $50 million to $250 million to develop the properties in hopes of boosting its total gas production 60% to 535 MMcfd by year-end 2002.