Production
Pioneer Natural Resources Company has discovered a new gas field in northern Alberta and initiated production at a gross rate of approximately 18 million cubic feet of gas per day (MMcfpd) from three wells. Pioneer has a 100% working interest and a 75% net revenue interest in the new field assuming a 25% sliding-scale government royalty. 
TransGlobe Energy Corporation announces that An Nagyah #24, which commenced drilling February 25 2007, reached a total measured depth of 2,050 meters and was completed as a producing oil well after flowing at an initial rate of 2,252 barrels of light (43 degree API) oil per day and 0.6 million cubic feet of gas per day at a flowing pressure of 400 psi on a 48/64 inch choke. 
OMV Aktiengesellschaft announced a discovery and successful testing of gas in its Latif 1 exploration well in the Latif Exploration Block in Northern Sindh province/Pakistan. This is an additional discovery in an area where OMV has discovered two major gas fields before, Miano and Sawan, which were brought on stream in 2001 and 2003. 
International Sovereign Energy Corp. reports that the formal Farm-In Agreements on the two previously announced blocks have been signed with Mari Gas Company of Pakistan, the second largest producer of gas in Pakistan. 
Beach Petroleum Limited and its joint venturer in the BMG project, Anzon Australia Limited, announces the signing of a 15 year Gas Sales Agreement (GSA) with Alinta Limited to supply gas from the offshore Gippsland fields to Tasmania for power generation. 
Qatar Petroleum and Exxon Mobil Corporation will celebrate the completion of RasGas Train 5 in Doha on March 20. RasGas Company Limited is a joint venture owned by Qatar Petroleum (QP) and ExxonMobil RasGas Inc. 
Chevron Corporation today announced the inauguration of the Bibiyana natural gas field, which is located onshore in Block 12 in the northeast of Bangladesh in Habiganj District. 
Petrobras and field partner Norse Energy declared Friday a stepping up of operations at the offshore Manati field, where one well, No. 3, has come onstream, it was announced Friday. 
Teton Energy Corporation announced that five wells in the Chundy pilot area have been connected to gas sales. 
Aberdeen-based E&P outfit Faroe Petroleum is planning to bring in oil company partners as farm outs on North Sea and Atlantic Margin fields, the company announced Tuesday, as it rolled out plans for 2007 that included a Norway focus. 
Mukesh Ambani-controlled Reliance Industries Limited (RIL) has made two new discoveries in the east coast blocks. These are in the well KG-D6-P2 in block KG DWN 98/3 (KG D6), and in the well NEC 25 A5 in block NEC OSN 97/2 (NEC 25). 
Partners in the giant Norwegian gas field Ormen Lange say they will spend NOK2.billion ($402.8 million) developing a sub-sea compression station, citing great savings as opposed to a platform solution. 
Merger-bound Norwegian oil company Hydro disclosed Thursday that the fire which caused a shutdown at its Oseberg field centre's Platform D this week was caused by a turbine breakdown. 
Dolphin Energy Limited is currently testing its gas receiving and distribution facilities at Taweelah, Abu Dhabi. 
Canadian Natural Resources, or CNR, has posted record annual production but cited higher costs in delivering fourth-quarter net earnings of $313 million, down some $700 million over the same period in 2005. |
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