Mustang Oil Ltd. and Celtic Petroleum Ltd. have farmed out an interest in UK southern North Sea blocks 49/1c, 49/2b, and 49/2c to GDF Britain Ltd. GDF will operate the blocks with 50% while Mustag will have 45% and Celtic 5%.
Pacific Tiger Energy Inc. has spudded the WB-N3 at Wichian Buri oil field in Central Thailand. The hole will test the productive F-sand downdip from the first wells. Pacific Tiger is operator with 60% and Carnarvon Petroleum NL has 40%. Carnarvon said reserves are 10 million bbl and output will exceed 1,500 b/d by yearend.
Royal Dutch/Shell Group has signed a production sharing contract with China National Offshore Oil Corp. for exploration of the Bonan area of Bohai Bay. It will drill two wildcats in the first 2 years, with options for two more in the following 4 years. Work will be on the 3,190 sq km Block 11/26 in 25 m of water in the southern part of the bay.
West Oil NL plans to spud Sleeper-1 well on AC/P27 in the Timor Sea by Jan. 20. It will use the Ocean General semisubmersible. West Oil has an option over 5% of the Sleeper Prospect and the AC/P27 Permit.
Swift Energy New Zealand Ltd. will buy all of Calgary-based Antrim Energy Ltd.'s New Zealand assets, which include a 5% interest in Rimu-Kauri permit PEP 38719 and a 7.5% interest in Huinga permit PEP 38716. The sale involves 220,000 shares of Swift Energy Co. stock and up to $960,000 in cash. Closing is expected in the first quarter.
Greenland Bureau of Minerals and Petroleum said Statoil ASA has relinquished the offshore Fylla license, 03/97, and Phillips Petroleum Co. has surrendered the offshore Sisimiut-West license, 09/98.
The government of Sao Tome & Principe has awarded Environmental Remediation Holding Corp., Lafayette, La., interests in licenses off Sao Tome, said the Organization of Petroleum Exporting Countries' news agency. ERHC can acquire up to 15% paid working interest in up to two blocks in the joint development zone of Sao Tome and Nigeria and 100% interest in up to two blocks in Sao Tome's exclusive economic zone without paying signature bonuses.
Petroleum Geo-Services ASA, Oslo, has secured seismic acquisition contracts worth $58 million in the US, Ecuador, India, and Bangladesh.
The US Department of the Interior has issued a final rule regarding applying for deepwater royalty relief. It will allow some lease operators to apply for additional discretionary relief for marginal fields in the Gulf of Mexico.