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The process of drilling a well as a project is examined and a Gantt chart to define the critical path of drilling a well is used. Any drilling efficiency program should be a continuous quality improvement program that recognizes the importance of detailed planning and continuous evaluation of the drilling process.

Additional exploration and development work in the North Sea region is expected especially in the southern gas basins of the UK, the Netherlands, and Norway as natural gas price is expected to increase along with the demand. This will be beneficial to various drilling companies in the North Sea region and in Norway.

Trading has been an integral part of Yemen's ancient and complex history. Thousands of years ago, that trade centered on frankincense and myrrh, made from the resins of trees and [...]

The valuation of the back-in right using the traditional discounted cash flow method is discussed. The host countries provided by the petroleum contracts hold the back-in rights to achieve the equity participation.

Government takes in oil and gas exploration contracts have continued to decline since 1995. Competition for foreign investment has led many nations to diversify the terms of contracts in order to encourage certain kinds of development, such as deep water, oil sands, and new or difficult fields. Government takes and ratings for 50 selected fiscal systems are listed and some specific contract term improvements are described., A new review [1] of 324 fiscal systems in 159 countries indicates that the trend of declines in government take has continued during the last 2 years. An earlier OGJ [...]

The Guatemalan government plans to encourage foreign contractor participation in the country's petroleum exploration and development (E&D) programs. The Guatemalan Ministry of Energy and Mines plans to further evaluate the Peten basin, the Amatique basin and the Pacific basin for new petroleum E&D projects. Guatemala's petroleum exploration contracts include production sharing contracts, seismic option contracts and exploitation contracts., The Guatemalan government, headed by recently elected President Alvaro Arzu, has embarked on an ambitious program of petroleum exploration and development with the goal of producing 40,000 b/d by 2000. [...]

Petroleos del Peru SA's (Petroperu) sale of its Talara refinery to Perez Companc SA represents another step in the privatization process of Peru's petroleum industry. Petroperu also has sold Petrolube SA, its lubricants business, to Mobil Oil del Peru. Perupetro, Pluspetrol SA, Shell Prospecting & Development (Peru) BV, Advantage Resources Selva LLC and Occidental Petrolera del Peru have signed oil/gas exploration contracts with international petroleum companies in 1996., The privatization of Peru's petroleum industry has marked a new turning point, with the recent sale of Petroleos del Peru SA's (Petroperu) last oil field. In the fourth asset auction [...]

Uzbekneftegaz (UNG), the state-owned oil and gas company in Uzbekistan, is seeking prospective partners for a number of oil and gas exploration and production projects in the region. UNG is offering about 60% of the country's total area for oil and gas prospects. The company estimates that the area contains about 22 bil bbl of oil and 1 bil bbl of condensate., Uzbekistan is seeking foreign partners for a long list of high priority oil and gas exploration and development projects. Potential investors may propose joint ventures (JVs), production sharing schemes, or [...]

Aladdin Middle East Ltd holds numerous oil and gas exploration license in the Republic of Turkey. Among the major oil exploration projects being handled by the independent US-based company in the country are those in the Gelibolu Peninsula, Antalya Basin, Gercus Basin, Adiyaman Basin, Diyarbakir Basin and Salt Lake Basin. It was founded in Delaware in 1960 and is now considered as a major player in the oil industry., Aladdin Middle East. Ltd. (AME) is an independent U.S. company, vigorously involved with Oil and Gas exploration activities en the Republic of Turkey. The company holds a total of 1.198.215 [...]

Work also proceeds at SYU and Wilmington off California, while Alaskan activity focuses on Cook Inlet as Chukchi and Beaufort grow quiet Years of leasing moratoria and minimal exploration drilling [...]

Deepwater oil finds--not gas--in the Eastern Gulf and a growing number of frontier discoveries in the Central sector lend optimism to future developments The depressed economy, falling energy prices and [...]

Uruguay is offering 11 continental shelf blocks for oil and gas exploration, attracting interest from six oil and gas companies. The blocks in the Punta del Este, Pelotas, and Oriental del Plata basins cover a surface area of 74,000 square kilometers.

Byline: Helen Robertson The latest news on bids, offers and awards from Deloitte's Petroleum Services Group ALNAFT Fourth International Bid Round 2014 launched On 22 January 2014 the Ministry of [...]

Trinidad and Tobago is undergoing a resurgence in gas exploration following the discovery of sizable offshore deposits, mostly off the northern and southeastern coasts of Trinidad. A multitude of companies, including Amoco Corp., British Gas, Elf Aquitaine, Enron Corp., Texaco Inc., and Repsol SA, are participating in exploration projects either as operators or consortia partners. Companies are also in the process of negotiating concession contracts with the Trinidadian government, particularly concerning the exploration of nine deepwater blocks in the Atlantic Ocean., Spurred by important offshore discoveries of natural gas made since 1994, Trinidad and Tobago is experiencing a major surge in exploration. Most of this activity is aimed at finding new [...]

Aminex was expecting to spud a well in its onshore Ruvuma licence close to large gas discoveries made recently off Mozambique in the second half of December. The company estimates [...]

Two blocks in Venezuela's exploratory acreage drew bids of more than $100 million each in the country's first offering in decades. British Petroleum, Amoco and Maxus bid $109 million for the Block 6 Guarapiche tract located east of the city of Maturin along the Furrial Trend. A consortium comprised of Mobil, Veba, and Nippon offered a $100-million-plus bonus for Block 2, La Ceiba tract. This block's location east of the southern part of Lake Maracaibo and south of Mutatan oil field, where significant oil pay has been discovered, increases its popularity.

Byline: Dayse Abrantes Despite the fact that BrazilaCOs oil reserves are second to those of Venezuela, a member of OPEC, there is no doubt that Brazil is the shining star [...]

Byline: Nell Lukosavich World of Oil and Gas Vol. 233 No. 5WORLD OF OIL AND GAS NELL LUKOSAVICH, SENIOR EDITOR EXPLORATIONCGGVeritas awarded Angola 4D processing program After negotiating with Total [...]

Talisman Energy has reached a $280 million deal with Mitsubishi that will see the Japanese firm enter nine of Talismans onshore permits in Papua New Guineas gas-rich Western Province. The [...]

Two oil and gas developments off the west coast of the Shetland Islands are increasing the level of activity there. Amerada Hess Ltd has discovered that one of its offsetting blocks lies above the Schiehallion field's structure. Ameranda also reported that 27 degree gravity oil flowed at a maximum rate of 5,304 b/d on its new well, 205/25a-2. Meanwhile, Enterprise Oil PLC, Mobil North Sea Ltd, and Den norske stats oljeselskap A/S agreed to jointly research opportunities for oil exploration off the Faroe Islands., A frontier play in the Atlantic Ocean west of the U.K.'s Shetland Islands continues to build. In the latest action, drilling by Amerada Hess Ltd. confirmed that Schiehallion field's structure, [...]

Bidding for oil and gas exploration rights in the Chardzhou region of eastern Turkmenistan. Petroleum geologists estimate reserves of approximately 7 billion bbl of oil equivalent. Turkmenistan's requirements for 31-year production sharing agreements provide for 40% government to 60% contractor sharing of hydrocarbon production. Additional information is included on contract terms and regional assets., Turkmenistan has opened an international bidding round for oil and gas rights in the Chardzhou region of the Amu-Darya basin. Bids are sought for 31 year production sharing agreements (PSAs) [...]

National oil company EGPC has opened Egypts 2011 bidding round, delayed from early this year because of the revolution. On offer are 15 areas: seven in the Western Desert; three [...]

The Jordanian government at Russian state-owned Zarubezhneft have signed a memorandum of understanding covering exploration in Jordan's southeast Jafr area. The six-month agreement, which can be extended for another three [...]

Byline: Dayse Abrantes The old adage that money has no ideology proves true for the regions oil economies. Vol. 231 No. 1 LATIN AMERICA REGIONAL REPORTSouth Americas oil producers luring [...]

French ideas for Terra Nova and Whiterose Terra Nova is located approximately 35km southeast of Hibernia, and was discovered in 1983 by the Sedco 710 with a well in 94m [...]

SPECIAL FOCUS: WHAT INDUSTRY LEADERS EXPECT IN 2009 US gas industry can be a victim or a leader Tom Price, Jr., Senior Vice President-Corporate Development, Chesapeake Energy Corporation It is [...]

Chevron confirms LNG option for Wheatstone CHEVRON says its recent Wheatstone gas discovery is to form the basis of a new liquefied natural gas (LNG) project in Western Australia. Previously, [...]

Norway: Feeding the minnows OFFERS OF territory under the Awards in Pre-defined Areas (APA) 2007 round, sent out in February -- and all accepted -- are set to bring a [...]

Trinidad, Venezuela disagree on cross-border gas exploitation ABOUT 10 trillion cubic feet (cf) of natural gas in reservoirs straddling the waters of Trinidad and Tobago, and Venezuela could remain unexploited [...]

Canada: Newfoundland's troubles mount HOPES that a Chevron-led partnership could open up a new deep-water basin offshore Newfoundland are wavering in the face of operational problems and rising costs. Operating [...]

A late October state lease sale in Washington produced some excellent bids, and served to swell the already considerable buzz about gas potential in the Evergreen State. Specifically, people are [...]

Gulf of Suez Petroleum Company selected GeoQuest to build a comprehensive and secure repository for corporate E&P [...]

Australia's Minister for Industry, Science, and Resources and the Northern Territory Minister for Resource Development jointly announced the successful bid for a new offshore exploration permit in the Timor Sea, [...]

Latvia's Ministry of Economy opened bidding on the country's first offshore hydrocarbon licensing round in Riga on April 19. Seven offshore blocks are being licensed for exploration and production; 66 [...]

Last month, Mexican state firm Pemex sent a technical mission to Cuba, to discuss conducting joint oil exploration activities with Cuba Petroleos (Cupet) in the Gulf of Mexico's socalled Exclusion [...]

* Samedan Oil and McMoRan Exploration joined up for an exploration alliance. Samedan will have a 25% working interest in prospects in Vermilion 195/196/207, Eugene Island 96/97/109, Vermillion 144/145, West [...]

Star Petroleum signed three production sharing contracts with the Kenyan government for offshore areas. The PSCs cover 60% of the country's offshore waters. Star has a 100% stake in Blocks [...]

Petroleum Agency SA and Global Energy Holdings have entered into a technical cooperation agreement to study oil and gas potential in block 3B and block 4B off the west coast [...]

A contract offering exclusive rights to explore for oil and gas offshore Myanmar in the Bengal Gulf was signed between Daewoo Corp. and Myanma Oil & Gas Enterprise. The area [...]

The company attributed the decision to escalating costs. The company plans to end the partnership with its two Russian partners in the project -- RAO Rosneft and OAO Sakhalinmorneftegaz. The [...]

Adair Yemen Exploration Ltd., a unit of Adair international Oil & Gas Inc., Houston, and its partners signed a production-sharing agreement to explore Block 20 in Yemen. The companies will [...]

Shell UK Exploration & Production and ExxonMobil Corp. unit Esso Exploration & Production UK Ltd. let an engineering design contract to Parsons Energy & Chemicals to develop preliminary plans for [...]

US-based Triton Energy has stepped up its already fast-tracked development of the Ceiba Field in deepwater Block G off Equatorial Guinea. The company has signed a multi-year leasing contract with [...]

Production-sharing agreements with foreign oil companies will be the basis of the country's energy policy in the future and will help boost output to 1m b/d by 2004, the oil [...]

Anadarko Petroleum Corp., the leading expert in subsalt exploration, has signed an agreement with Texaco Exploration and Production Inc. to acquire future exploration rights on 82 subsalt blocks in the [...]

Oil exploration in West Africa shows great promise, such as Exxon Corp.'s find of a fourth oil field offshore Angola. Equatorial Guinea intends to offer a number of offshore sites for exploration including some deepwater areas. Total Exploration and Production are negotiating with Vanco and Reading and Bates over licences in the Gabon. Some observers are predicting Dresser Kellogg will be given the contract for engineering work on the Amenam oil field located offshore Nigeria. The oilfield is being operated by Elf Aquitaine Oil and Gas Co and is predicted to have reserves of 500m bbl.

South Stream, a giant future pipeline that would carry Russian and Caspian gas under the Black Sea to Europe, is still seen by many as a competitor to Nabucco. The [...]

Apache Corp. has signed a contract to supply natural gas from the Reindeer field to CITIC Pacific's world scale magnetite mining project in western Australia. Apache and its Reindeer joint [...]