Falkland Islands oil explorer Desire Petroleum (DES.L) said a closely-watched sidetrack well on its Rachel prospect in the Falkland Islands was unable to reach target depth and it would clean the hole out before trying again.
Brazil’s oil industry regulator announced Friday that a recent ultra-deep offshore find is estimated to hold between 3.7 billion and 15 billion barrels of oil equivalent, which could make it the largest crude accumulation in the country’s pre-salt region and the biggest discovery in the Western Hemisphere in more than three decades.
Brazilian government-controlled energy giant Petrobras said signs of oil found at in its first deepwater exploration well in the Sergipe-Alagoas Basin mark the opening of a new “exploratory frontier”.
Shares in Falkland Islands exploration company Desire Petroleum (DES.L) more than doubled on Wednesday following internet bulletin board speculation of a bid approach for the Falklands focused explorer and an oil find, traders said.
Desire Petroleum plc (AIM:DES), the oil and gas company wholly focused on the North Falkland Basin, is pleased to announce the signing of a contract for marine seismic acquisition services with Polarcus Limited for the use of the seismic vessel MV Polarcus Nadia.
Argentina will produce the first batch of enriched uranium for civilian purposes next year as part of the re-launching of its atomic power industry, President Cristina Fernandez de Kirchner said Monday.
Brazilian state-controlled energy giant Petrobras said Friday that the drilling of a new exploratory well at the offshore Tupi field confirms potential recoverable reserves of between 5-8 billion barrels of oil equivalent.
According to a recent audit commissioned by the Bolivian government and conducted by US-based consulting firm Ryder Scott allegedly shows that the country has only 8.3 trillion cubic feet of proven gas reserves, sharply lower than the range of 12.8 trillion to 26.7 trillion that has appeared in contradictory official versions.
Russian energy company Gazprom has plans to take a 20% stake in natural gas projects in Bolivia, the gas monopoly said. Gazprom said it could take the stake under the terms of a September deal with French energy company Total for the Ipati and Aquio gas blocks in Bolivia.
Two Falkland Islands hydrocarbons exploration companies have signed contracts for marine seismic acquisition services with Polarcus Limited. The contracts were announced Thursday and should be operational by early January 2011.