China's Sinopec Finds Shale Oil at Shengli Field
A unit of state-run oil Chinese and gas major Sinopec Corp has found an initial 458 million tonnes (3.34 billion barrels) of geological shale oil reserves at its Shengli field, the official Xinhua news agency reported on Tuesday.Shengli, in Shandong province, is one of China's largest conventional oil and gas fields but Sinopec, has been exploring the J
Hellenic Petroleum is Preferred Bidder for Greek Offshore Gas Drilling
Hellenic Petroleum has been named preferred bidder for an offshore gas drilling block in western Greece, the country's largest refiner said on Tuesday. Greece has made several fruitless attempts over the last 50 years to find big oil and gas reserves. It has stepped up its efforts in recent years…
Joint Venture to Explore Offshore Mozambique
An Eni led partnership including Statoil, Sasol and ENH has submitted a winning bid on the A5-A block offshore Mozambique in the fifth competitive bidding round. The partnership will subsequently enter into negotiations with the authorities. The A5-A block is located in the Northern Zambesi basin in the Angoche area about 1…
Petrobras Confirms Oil Potential in Carcará
The drilling of the third well in the Carcará area (Block BM-S-8) in the Santos Basin´s ultra-deep waters has confirmed the light oil potential of pre-salt reservoirs. Well 3-SPS-104DA, informally known as Carcará Northwest, is within the Discovery Evaluation Plan area of discovery well 4-SPS-86B (Carcará).
Croatia Eyes Adriatic Oil Potential
Croatia to sign oil, gas exploration licences in June/July. When Croatia announced in 2013 it would set a tender to explore for oil and gas in its pristine Adriatic waters, the government evoked the hydrocarbon riches of Norway to win over the plan's many detractors. "If it's not dangerous for Norway or Scotland…
Statoil: Barents Sea Exploration Completed
Statoil has completed the extensive 2013-2014 exploration programme in the Barents Sea. This represents an all-time high exploration activity and 10% of all exploration wells drilled in the Barents Sea since its opening in 1980. “This is a unique exploration programme. A commitment of this size and complexity requires geological…
Argentina: The Most Attractive Shale Play Outside US
Cristina Fernandez, president of Argentina, is the sort of populist political leader financial markets love to hate. For business interests and the media, she has become an archetypal villain, a symbol of everything that has gone wrong with the country's economy over the last century.
Colombia's Ecopetrol Sees Recovery in 2015
Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded by rebel attacks on infrastructure and exploration failures. Ecopetrol chief financial officer Magda Manosalva told a conference in London that while the primary focus would remain on Colombia…
Ecopetrol Sees Recovery in 2015 Oil Output
Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded by rebel attacks on infrastructure and exploration failures. Ecopetrol chief financial officer Magda Manosalva told a conference in London that while the primary focus would remain on Colombia…
Can Shale Revive China's flagging oil fields?
"I believe and will prove that our country is not deficient in oil reserves. Those comments, recorded in an illustrated history of the Songliao Basin published by China National Petroleum Corporation (CNPC), are attributed to Wang Jinxi, an oil field worker who became a hero of Communist China during the 1960s and 1970s. Wang's Drill Team No.
Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km
Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska, a World Wildlife Fund study showed on Friday. The WWF contracted RPS Applied Science…
U.S. Fracking Giant Goes to China
State-of-the-art American fracking technology is coming to China's vast shale deposits as a result of a joint venture between FTS International and Sinopec announced on Tuesday. SinoFTS, as the joint venture will be called, marks an important milestone on the road to exporting the North American shale revolution around the world.
TOTAL & LUKOIL To Develop Tight Oil In Bazhenov
Total signed today an agreement with Lukoil creating a joint venture (JV) to explore and develop the tight oil potential of the Bazhenov play in Western Siberia. Total will hold 49% of the JV and Lukoil 51%. This agreement finalizes the memorandum of understanding signed between the two companies in December 2013.
Exploration Well in Drivis Completed
Operator Statoil has together with PL532 partners made an oil and gas discovery in the Drivis prospect in the Barents Sea. This concludes the 2013/2014 exploration programme around the Johan Castberg field. Well 7220/7-3 S, drilled by the rig West Hercules, has proven a 68 metre gross…
Statoil Reports Success in Espírito Santo
Statoil has received formal approval to enter the São Bernardo discovery in Espírito Santo. The discovery further strengthens Statoil's belief in the oil potential in the basin. On March 19, Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) approved Statoil’s acquisition…
Exploration Well in Kramsnø Completed
Statoil, together with PL532 partners, has made a gas discovery in the Kramsnø prospect in the Barents Sea. The exploration program around the Johan Castberg field has been vital in providing area knowledge, but so far not delivered expected oil volumes. In 2011-2012 Statoil made a breakthrough…
