Energy & Oil

• Saturday, September 25th 2010 - 03:05 UTC

  Technical constraints limit Falklands’ oil well flow test to 2.000 bopd

  

  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”.

• Saturday, September 25th 2010 - 03:01 UTC

  Brazil’s oil prospects break all records of share placing: 70 billion US dollars

  

  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.

• Friday, September 17th 2010 - 20:43 UTC

  Rockhopper declares Falklands’ oil discovery will be commercially viable

  

  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.

• Friday, September 17th 2010 - 06:39 UTC

  Successful testing of ninth out of ten oil-wells in extreme south of Chile

  

  Latin American oil and gas firm GeoPark Holdings Ltd said on Thursday it successfully drilled and tested a new well in the Guanaco oil field on the Fell Block in the extreme south of Chile.

• Friday, September 17th 2010 - 06:30 UTC

  Chinese oil company after BP’s stake in Argentina’s Pan American Energy

  

  CNOOC, Ltd, China’s biggest offshore oil explorer, may bid 10.2 billion USD for BPs 60% stake in Argentina’s Pan American Energy LLC and will probably seek a partner in the acquisition, Citigroup Inc. said.

• Friday, September 17th 2010 - 03:37 UTC

  Korea/Argentina sign nuclear cooperation MOU; new light-water plant planned

  

  Argentina and South Korea signed on Thursday a memorandum of understanding (MOU) for bilateral collaboration in the nuclear sector. The MOU sets forth that the two nations will discuss concrete cooperation plans to build a new nuclear plant in Argentina and to repair the country's existing heavy water reactors.

• Wednesday, September 15th 2010 - 05:46 UTC

  Argentina confirms drilling in Malvinas basin for next December

  

  The Argentine press confirmed that following the contracting of a semi-submersible rig from the Swedish company Stensa, a consortium of Argentine based oil companies will begin exploratory drilling in the Malvinas basin next December.

• Monday, September 13th 2010 - 22:06 UTC

  Argos confirms Falklands’ waters exploratory oil drilling for second half of 2011

  

  In the first six months of 2010 Falkland Islands based Argos Resources has made significant progress in developing its PL001 Licence in the North Falkland Basin, to anticipate it will begin an exploratory hydrocarbons drilling campaign in the second half of 2011.

• Monday, September 13th 2010 - 20:33 UTC

  Falklands’ Desire ‘exited’ about prospects plans to drill four more wells

  

  Falkland Islands Desire Petroleum (AIM-DES) is upbeat about the prospects for finding major reserves of oil offshore the Islands despite mixed results so far and revealed plans to further drill four wells in the North Falkland basin.

• Wednesday, September 8th 2010 - 23:19 UTC

  Chilean rig at east access of Magellan Strait catches fire: all crew saved, no spill

  

  A Chilean-operated oil rig off Argentine Patagonia in the South Atlantic caught fire early on Wednesday, forcing all its eight workers to evacuate by rafts and oil production to shut down, reported the Argentine navy.