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While the Americans and their allies have been snarled up in complex negotiations seeking a way out of the blood-soaked Syrian labyrinth and struggling to untie the Gordian knot of [...]

Halliburton Co and state-owned Kuwait Oil Co have signed a KD181.4m m($597m) contract to explore for oil off the coast of Kuwait, marking the Gulf state's first foray into offshore [...]

Russia muscles into the east Mediterranean gas bonanza, chalking up a 25-year deal with Syria for exclusive offshore exploration rights, part of Vladimir Putin's long-term strategy to restore Moscow's influence [...]

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.

Tony Blair's handshake with Libyan leader Muammar Qaddafi--the man formerly known as the 'mad dog' of the Middle East--on 25 March reverberated around the world. In oil circles, however, the [...]

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 [...]