Exploration & Production

Licensing Rounds

We’re not desperate, says Venezuela

South America’s largest oil producer, Venezuela, wants to double gas production by 2015, but lacks the infrastructure to bring its offshore discoveries on-stream, so it seems to be pushing for foreign partners to exploit the gas in its Mariscal Sucre offshore project.

28 September 2011
Discoveries & Reserves

Subsea 7

Subsea 7 announced on Wednesday it has been awarded a $465 million contract for the engineering, procurement, construction and installation of sea lines for a major shallow water development off the coast of West Africa.

28 September 2011
Discoveries & Reserves

CNPC on track to boost production capacity of Tarim oilfield assets

The Tarim oilfield in western China's Xinjiang Uyghur Autonomous Region will have an annual natural gas production capacity of 20 billion cubic metres (706 billion cubic feet) by the end of this year – a 15% increase over 2010 – China National Petroleum Corp. (CNPC), the owner and operator of the field, announced on Tuesday.

27 September 2011
Projects

Ecuador and Chile to sign exploration agreement

Ecuador is set to sign an agreement with Chile’s state-controlled energy company Empresa Nacional del Petroleo (ENAP) to explore for gas in Ecuador’s Amistad field in the Gulf of Guayaquil, just off the coast of the country’s most populous city.

27 September 2011
Projects

Exxon to book Kara Sea Reserves

US super-major, ExxonMobil will book gas reserves it finds in East Prinovozemelsky Blocks 1, 2 and 3 in the Kara Sea, although its partner, Rosneft holds the licences.

27 September 2011
Unconventional Gas

Sinopec unit makes headway in CBM exploration

East China Petroleum Bureau, a unit of Sinopec, has drilled 19 coal-bed methane (CBM) test wells in Shanxi Province’s South Yanchuan CBM Block since May 2009, according to a Sinopec newsletter released Tuesday.

27 September 2011
Projects

Santos deal may signal change in Bangladesh

The Bangladeshi government’s decision to allow Santos to sell its gas at market prices could signal a much-needed liberalisation of the sector which would boost domestic exploration and development

27 September 2011
Projects

Brazil’s HRT sees opportunity in the Atlantic ‘mirror’

In addition to the purchase of the four drilling rigs in Namibia that was announced last week, HRT will sign a memorandum of understanding to acquire two additional units.

27 September 2011
Licensing Rounds

Guatemala to rekindle offshore exploration

The frontrunner in Guatemala’s presidential elections in November is planning to invite investors back to the country to participate in a gas bidding round as early as next year, Interfax has learned.

26 September 2011
Discoveries & Reserves

Insurance groups to offer Iraq-specific cover for drilling rigs

Global insurance group Marsh and the Arab Anglo Insurance Brokers (AAIB) are looking to capitalise on drilling activity in Iraq by offering specific insurance for operators there.

26 September 2011
Unconventional Gas

Indonesia CBM production on the increase

Indonesia’s CBM production which began earlier this year, has now reached 33.9 thousand cubic metres per day(Mcm/d), according to state regulator BPMigas – a total it hopes will expand to 14.1 million cubic metres per day (MMcm/d) by 2015, and going forward to double production every five years.

26 September 2011
Projects

Stumbling blocks to GTL technology still remain

High-profile announcements of new GTL plants from Sasol and the start-up of Royal Dutch Shell’s Pearl project show confidence in the technology is building. But there are still many risks attached t

26 September 2011
Discoveries & Reserves

Sinopec expects Erdos Basin projects to yield 6 bcm of natural gas annually by 2015

The North China Petroleum Bureau, a unit of Sinopec, expects annual production from its gas fields in the Inner Mongolia Autonomous Region's Erdos Basin to hit 6 billion cubic metres by 2015, Sinopec announced on its website on Monday.

26 September 2011
Discoveries & Reserves

Gazprom launching major programme for Arctic shelf exploration

Gazprom expects its exploration of the Arctic shelf to result in deposits amounting to about 11 billion tons of hydrocarbon fuel equivalent being discovered by 2030, one of the company's top executives said on Friday.

23 September 2011
Discoveries & Reserves

Exploiting Lebanon’s gas resources still a long way off

The waters of the East Mediterranean are estimated to hold 3.5 trillion cubic metres of gas. Pursuing gas exploration is a top priority for Lebanon, which is highly dependent on gas imports. However,

23 September 2011
Projects

TNK-BP’s Brazil debut hangs in the balance

Russia’s TNK-BP is hoping to enter the Brazilian market. However, analysts have suggested that the company will be unhappy playing second fiddle to its prospective partner, HRT Participações.

23 September 2011
Projects

SOCAR announces feasibility study for $15 bln petrochemicals complex

State Oil Company of the Azerbaijani Republic (SOCAR), along with a group of companies, has announced a feasibility study for building a petrochemicals complex costing an estimated $15 billion, SOCAR's vice-president for strategic development, Tofik Gakhramanov, said at the Gas Infrastructure World Caspian 2011 conference on Friday.

23 September 2011
Unconventional Gas

ExxonMobil takes leases for Utica Shale play

ExxonMobil has taken its first step in the shale oil and gas field, acquiring leases in Ohio’s Utica Shale, according to a news report on Friday.

23 September 2011
Projects

Apache acquires Exxon’s maturing North Sea assets

Apache North Sea, a subsidiary of the United States’ Apache Corporation, has agreed to purchase ExxonMobil’s North Sea assets for $1.75 billion, according to a statement released on Thursday.

22 September 2011
Unconventional Gas

Qinshui Lanyan CBM begins drilling for coal seam gas

Qinshui Lanyan Coalbed Methane has started drilling for coal seam gas in a Shanxi Province coal mine owned by Huajin Coking Coal, Qinshui Lanyan announced on Sunday.

22 September 2011

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