Chilean state owned oil and gas company Empresa Nacional del Petroleo SA, Enap, discovered a new natural-gas well on the Arenal exploration block on the Tierra del Fuego island in the extreme south Magallanes region, the company said Wednesday.
China’s Sinopec group, the country’s second-largest oil and gas producer, will invest 7.1 billion US dollars in Repsol-YPF’s Brazilian unit as the Spanish oil company raises funds to develop offshore projects.
Oil firm Chevron has received government consent to drill an exploration well to evaluate a controversial prospect off Shetland. The deep-water Lagavulin prospect is 160 miles north of the islands.
Falkland Oil & Gas Ltd and associate BHP Billiton have been granted by the Falkland Islands government an extension of Phase I of their northern Falkland licences and should be drilling one exploration well before 15 December 2011, according to a release from the FOGL. BHPB Petroleum (Falklands) is part of the larger Anglo-Australian BHP Billiton resources conglomerate.
FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, announces certain changes to its licence arrangements with the Falkland Islands Government.
Desire Petroleum (AIM:DES) the first oil and gas exploration company to contract a rig and begin the current round of drilling in the Falkland Islands announced Monday the spudding of its second exploration well, Rachel 14/15-1.
Desire Petroleum (AIM:DES), one of the Falkland Islands oil exploration companies announced Friday it had successfully placed 16,294,600 shares at 140 pence each raising £22.8 million before expenses.
Rockhopper Exploration said that during the testing of its Sea Lion well in the Falkland Islands, problems limited the amount of oil extracted to just an average of 2000 barrels per day (bopd). Otherwise, it could have produced sustained rates of at least double that, at 4000 bopd, “without these constraints”.
Brazil's government managed oil and gas company raised 70 billion US in the world's biggest-ever share offering Thursday. The success of Petrobras issue showed the extent of investor interest in Brazil's massive offshore oil reserves, one of the world's fastest-growing regions for energy production.
Rockhopper Exploration (RKH.L) said it believed its oil discovery offshore the Falklands Islands will be commercially viable. A test at the Sea Lion 1 well in the North Falkland basin produced sustained rates of over 2,000 barrels of oil per day, in line with its hopes, Rockhopper said in a statement on Friday.