Sound Oil seeks partner for assets in Italy and Indonesia

Sound Oil Plc, in November 2011, has announced that there are opportunities to farm out several large scale assets possibly in Italy and Indonesia. Continue reading here..

Murphy Oil targets hydrocarbon production of 300,000 boepd by 2015; Planned exploration and development activities in Asia, America, Africa and Middle East for the year 2011

Murphy oil projected 2011 production ranging from 200-210 kboepd, which represents a 7% to 13% increase over 2010 volumes. The company approved capex of $2.2 billion for the year 2011; approximately 88% of it slated for the E&P segment, about $1.5 million for the development projects, the remainder or about $500 million to be spent on exploration activities.

Murphy’s 2010 exploration program delivered three new discoveries from eight wells drilled and found mainly oil reserves in amounts well above our produced volumes for the year. The company added new acreage to Eagle Ford Shale position as well as our Montney position. The company also added a new oil play, the Exshaw/Bakken, in Southern Alberta. Murphy signed an agreement with the Kurdistan Regional Government of Iraq to acquire a 50% working interest and operate the central Dohuk well.

Murphy planned exploration activities in Indonesia, Suriname, Congo, Brunei, Kurdistan and GOM for the year 2011.

In Canada, the EOR pilot work kicked off at our Seal heavy oil project in Northern Alberta late in the year 2009. On the gas side, development work in Canada at Tupper and Tupper West continued on plan through the 2009. Gas plant capacity at Tupper was expanded to 105 mcf a day and first gas at 180 mcf capacity. Tupper West plant is expected in first quarter of 2011.

The company has development projects in Malaysia with oil development at Patricia, Serandah along with Siakap North in Block K, a floating LNG development and Block H is also under consideration for 2011. Schiehallion redevelopment and the Hibernia South Extension are also on the slate for sanction this year.

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BP acquires interest in four new CBM PSCs in the Barito Basin, South Kalimantan

BP has acquired 44% interest in Tanjung IV CBM PSC along with Pertamina holding the remaining 56% and 45% in the Kapuas I, II and III CBM PSCs Sugico holding the remaining 55%. Together, the four PSCs cover an area of approx. 4,800 sq kms. These awards mark BP's first CBM access in Indonesia outside its joint venture with ENI, VICO, which in late 2009 was awarded the Sanga Sanga CBM PSC near the Bontang LNG plant in East Kalimantan.

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BP's future exploration focus

BP's current exploration projects

Source: Derrick Petroleum Planned Exploration Wells Database

Niko Resources reported third quarter results 2010; Hydrocarbon production up 42% over nine months ended 2009; Plan to drill 30 exploration wells by the end of 2012

Niko’s nine months production was 300,469 mcfepd up 42% over same periods in the prior year (2009: 211,630 mcfepd). This is due to increase in production from D6 block. The company has 36 active exploration blocks in Indonesia, Trinidad, India, Kurdistan, Madagascar, Pakistan and Bangladesh.

Niko planned seismic and drilling operations for 2011-2012. The company has exploration blocks in Indonesia, Trinidad and India.

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Niko in Indonesia:

Niko planned drilling program on 14-16 wells for the year 2011. Multiple wells committed in South East Ganal and West Sageri blocks.


Niko in Block D6

Niko has 10% working interest in D6 Block. The block has 23 undeveloped exploration successes and the company plans to achieve additional exploration prospects from this block.