A few large value transactions announced in the third quarter last year lifted the value of upstream transactions in Europe during 2011 to $14.4 billion, which is 9% of the overall transaction value in 2011. Continue reading here...
Wednesday, January 25, 2012
Kuwait Energy Plc, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, announced a new oil discovery in Egypt's Ahmad-1X well, located in the Gulf of Suez's Area A concession.
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Heritage Oil announces that it has been awarded a further Production Sharing Agreement (PSA) in Tanzania. Heritage is the operator with 100% interest. The Kyela PSA, wholly located within Tanzanian territory, has an area of 1,934 sq kms and covers the northern onshore area of the Lake Nyasa Basin. Heritage has been awarded 100% interest and is the operator.
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Recent media reports have been speculating on a possible takeover or majority acquisition in Rockhopper Exploration Plc by Anadarko Petroleum. According to Sunday Times, several other Texan oil firms, including Noble Energy, Hess Corp and Murphy Oil are interested, as are British oil firms Cairn Energy and Premier. Continue reading here..
President Barack Obama on Tuesday pledged support for the U.S. shale gas boom, but said government must focus on safe development of the energy resource.
In his State of the Union address, Obama called for government to develop a roadmap for responsible shale gas production and said his administration would move forward with 'common-sense' new rules to make sure drillers protect the public. 'America will develop this resource without putting the health and safety of our citizens at risk,' Obama said.
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Reporting its Q3 financial results on Tuesday, Cairn India reported that Cairn Lanka successfully completed the first phase of its exploration campaign in Sri Lanka in Block SL-2007- 01-001. The exploration programme involved the acquisition, processing and interpretation of 1,753 sq km of 3D seismic data and the drilling of three well deep water wells. This resulted in two successive gas and condensate discoveries: theCLPL-Dorado- 91H/1z well and, the CLPL-Barracuda-1G/1well. The third well, CLPL-Dorado North 1- 82K/1 was plugged and abandoned as a dry hole on 14th December, 2011.
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PTT Exploration and Production Pcl (PTTEP) is reported to be considering to bid for Cove Energy Plc, a British oil and gas explorer, which has put itself up for sale. Continue reading..
EnQuest Plc has signed an agreement with Nautical Petroleum Plc to acquire 25% interest in Blocks 9/2b and 9/2c which includes the Kraken heavy oil discovery, UK North Sea. Continue reading..