New Developments
London-based E&P outfit, Soco Group, has posted profit for 2006 of $29.1 million, a 42 percent increase on drill bit success in Vietnam and Yemen, a statement Thursday said. 
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. 
ONGC Videsh (OVL), the overseas investment arm of India’s petroleum exploration major Oil and Natural Gas Corporation (ONGC), wants the Venezuelan government to raise its stake in San Cristobal field in its country to 49 per cent. 
North Sea player, Granby Oil & Gas, declared Monday that financing is in place to develop the Galoc oil find off the northwestern Phillippines with two sub-sea wells and a floating production, storage and offloading vessel, or FPSO. 
ONGC Videsh Ltd. (OVL) signed Exploration and Production Sharing Agreement (EPSA) with National Oil Corporation of Libya for Contract Area 43 on March 5, 2007 at Tripoli. 
Transmeridian Exploration Incorporated today provided the following update with regards to production and operations in its South Alibek field in Western Kazakhstan.
EnCana alots C$200M for Deep Panuke pipeline Mar 6, 2007
Canuck operator EnCana has asked Canadian regulators to greenlight two drawings it has for moving offshore Deep Panuk gas onshore, including a C$200-pipeline to Maritime Canada and onward to U.S. customers of the Eastern Seaboard. 
Aberdeen-based oilfield engineering firm, Wood Group, posted profits of $121.2 million for 2006, up about $40 million on strong growth lead by engineering and facility management. 
U.K. E&P outfit Imperial Oil reported Tuesday that its 15 oilfields in the Tomsk Region of Siberian Russia now show booked reserves 150 percent higher at 803 million barrels. 
An audit of Grove Energy’s Dutch North Sea license P8a Horizon West has revealed 7.4 million barrels of proved plus probable reserves, about half of which are due Grove. 
Index Oil and Gas, Inc. has committed to drill two wells in south Texas. The company has signed an exploration agreement committing to drill two wells in south Texas, Habanero G2 in Goliad County and Serrano V3 in contiguous Victoria County. Both wells target gas in shallow Frio and Vicksburg reservoirs. 
Ireland-based Russian prospector Petroneft Resources has reported that despite globally warmed tundra in the Tomsk region of Siberia, a three-well campaign is on target through delays transporting the drill bit. 
Indian federal government on Friday signed production-sharing agreements with winners of the 52 oil and gas blocks auctioned under the sixth round of New Exploration Licensing Policy (NELP-VI). 
SeaDragon Offshore, currently building the first of a number of planned 6th Generation (Deep Water/Harsh Environment semi-submersible rigs) has placed a significant order with Rolls-Royce for vital capital equipment for its first vessel the Moss CS50 MkII the “Oban B”. 
Canadian independent TAG Oil Ltd. has determined the Mangamingi-1 oil well in the hills of Taranaki, New Zealand could flow only enough gas to flare, and not enough for commercial production, though Kiwi gas elsewhere is “good to go”. |
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