The French energy giant Total and its Argentine partner, Tecpetrol, announced the discovery of a major natural gas find in Aquio in southeast Bolivia.
Colombia’s state-run petroleum company Ecopetrol announced the results of testing from an oil well in the south of the country with initial findings showing production levels to average 92 barrels of oil a day reported the Bogotá press.
Argos Resources Limited, the Falkland Islands based hydrocarbons exploration company, has reported that the company has completed the acquisition of 3-D seismic data over the entire area of its PL001 licence in the North Falkland Basin.
Chile is studying supplying neighbouring Argentina with electricity during the southern hemisphere's summer, when demand spikes, daily newspaper La Tercera reported Wednesday.
In the coming three years hydrocarbons exploration and exploitation in the extreme south of Chile will receive investment equivalent to over 400 million US dollars making Punta Arenas a hub for the regional oil industry.
Petrobras, Brazil’s state-controlled oil producer will export its first cargo from the country’s second-largest crude field to Chile in mid-May.
Falkland Oil and Gas Ltd plans to raise £32m through a placing of shares at 70p each, with the money earmarked for the oil and gas exploration company’s 2012 drilling program, according to a release from the company heavily involved in exploration to the South and East of the Falkland Islands.
Falkland Islands Desire Petroleum reported Monday that it had completed the drilling of its Ninky prospect (2.620 metres) which showed the reservoir quality “is generally poor” and therefore the well will be plugged and abandoned, according to an official report released Monday.
Norway’s biggest oil and gas producer Statoil ASA, said the “significant” oil discovery made adjacent to the Peregrino field in the Campos basin off Brazil may warrant a separate installation to speed up development.
Oil prices are likely to remain high for the foreseeable future and IMF economists say that governments should be looking to back sustainable alternative sources of energy.