FOGL had been expecting to announce preliminary results of the well during this week; however, there have been some further delays due to some minor operational issues and weather related downtime.
Rockhopper Exploration one of the four companies operating with Falkland Islands government licences reported last Friday that samples from its recent discovery on the Sea Lion prospect in the North Falkland basin have been confirmed as medium grade crude.
China National Offshore Oil Corp., the country’s third-largest oil and gas company, declined to comment on reports it is holding talks to buy as much as 9 billion US dollars of BP Plc’s assets in South America.
The bill governing the capitalization of Brazilian energy giant Petrobras was approved Wednesday by President Lula da Silva. It is the first step to establish the new regulatory framework for exploiting crude oil under the pre-salt layer of the continental seabed of Brazil.
Towards the end of the year Argentina’s YPF in association with Pan American Energy and Petrobras will begin exploring for oil in the Malvinas basin, following the contract for an oil rig which has been signed, according to oil industry sources in Buenos Aires.
Argentina will inaugurate Wednesday a key new pipeline bringing natural gas from Tierra del Fuego Province to the neighboring province of Santa Cruz. The Strait of Magellan pipeline will initially transfer 5 million cubic meters a day of gas from Cabo Espiritu Santo in Tierra del Fuego Province to Cabo Virgenes in Santa Cruz.
Royal Dutch Shell Brazil discovered oil in the Campos Basin's pre-salt region, the company said Tuesday. In a statement, Shell Brazil said it had discovered oil in the 3-SHEL-22-ESS well at the Nautilus field, part of the Parque das Conchas development that went on-stream in July 2009.
An Argentine multinational company dedicated to providing solutions in the field of alternative energy sources will open a Wind Farm Service Centre in Uruguay. IMPSA is considered a leader in wind power investment and generation in Latinamerica.
Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.
Peruvian natural gas was exported for the first time this week from the recently inaugurated Pampa Melchorita plant, to the south of Lima. The LNG was delivered by Spain’s Repsol onto the Barcelona Knutsen Tanker and dispatched to Mexico.