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Tullow completes acquisition of Heritage assets in Uganda
Eric Watkins, OGJ Oil Diplomacy Editor
LOS ANGELES, July 27 -- 
Tullow Oil PLC, following approval by the Uganda government, completed its planned acquisition of 50% interest in Blocks 1 and 3A from Heritage Oil & Gas Ltd. for $1.35 billion, with a further contractual settlement amount of $100 million.
Tullow now plans to enter into transactions with 
China National Offshore Oil Corp. and Total SA to farmout two thirds of its interests in Blocks 1, 2, and 3A in the Lake Albert Rift basin in an accelerated basin-wide development plan that is expected to deliver production well in excess of 200,000 b/d from the basin.
Blocks 1, 2, and 3A are thought to contain combined reserves of more than 2 billion bbl of oil, and initial production from them is expected in late 2011. Tullow anticipates reaching peak output of more than 200,000 b/d in 2014-15.
The sale, however, has been dogged for months by a dispute between Uganda and Heritage over taxes. On July 7, Heritage said Kampala had approved the agreement, pending its ?demonstrating to government that it will pay any taxes on demand, which may arise from the disposal of the assets.?
At the time, though, Heritage was not expecting to pay any taxes on the sale as it had been advised by experts in the UK and North America that disposal of the assets is not taxable in Uganda.
The two sides continue to disagree on the tax issue, but the acquisition proceeded anyway following a compromise under which Heritage deposited $121.5 million with the Uganda Revenue Authority. The sum represents 30% of the disputed tax assessment of $404.9 million by the URA.
?Heritage continues to work with government to agree a way forward for the tax dispute to be resolved,? the firm said, adding that the balance of $283.4 million on the assessment has been retained in escrow pending resolution of the dispute.
Contact Eric Watkins at hippalus@yahoo.com.
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Tullow finds Butiaba's thickest pay in Uganda
By OGJ editors
HOUSTON, July 28 -- An appraisal well in the Butiaba region of Uganda Block 1 encountered more than 40 m of net oil-bearing reservoir, the thickest oil pay encountered in the Butiaba sector, said Tullow Oil PLC.
The Ngiri-2 appraisal well found the 40 m of net pay in two zones in a 131-m gross oil-bearing interval. The well went to 892 m 1.7 km north of the Ngiri-1 discovery well on the Warthog prospect (see map, OGJ, Feb. 16, 2009, p. 34).
Tullow Oil noted that after 32 successes in 33 wells the Lake Albert Rift basin still delivers from the upside potential. The company said it has discovered more than 950 million bbl of oil and estimates the yet-to-find prospective resource at 1.5 billion bbl.
Logging and sampling operations at Ngiri-2 confirmed the presence of movable oil in both zones. The lower zone encountered an oil-water contact, and pressure data from the upper zone indicate the possibility of a deeper contact than expected.
Reservoir quality is excellent, akin to Kasamene field in Block 2, where a production rate of 3,500 b/d of oil was achieved during testing in 2009.
Ngiri-2 is the first of a multiwell appraisal program planned to further evaluate the extent and recovery potential of Ngiri field. Tullow plans to drill the Ngiri-3 and Ngiri-4 downdip appraisal wells designed to establish oil- water contacts and reservoir distribution.
Tullow suspended Ngiri-2 and is moving the rig to the Mpyo-1 wildcat location. Tullow operates its 100% interests in Blocks 1, 2, and 3A.
Tullow said, ?This continued success supports our planning for the accelerated basinwide development with our future new partners Total and China National Offshore Oil Corp.?
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Sasol, Statoil, Chesapeake form JV to explore Karoo Shale
Tuesday, 20 July 2010 13:29 Scandinavian Oil and Gas
Eastern Cape. Sasol reported the successful award of a joint application with Statoil and Chesapeake for an onshore petroleum Technical Cooperation Permit (TCP) in South Africa.
The TCP covers an area of approximately 88,000 km2, primarily located in the Free State and also covering areas in the Eastern Cape and KwaZulu-Natal.
The permit awards the applicants the exclusive right to study the prospectivity for shale gas in the Karoo Basin for a period of up to 12 months, but does not include any surface activity or drilling. The joint venture partners plan to evaluate existing and available geological information within the area to determine the potential for shale gas. The study work will include the sampling and analysis of existing geological cores that were drilled by Soekor in the 1970's and 1980's during their search for shale oil. The same shale formations are now being assessed for potential gas production. This concept follows recent global developments in shale gas, where technology advancement in drilling and extraction technologies have allowed for economic development of significant shale gas resources.
If the geological evaluation proves successful, the partners will consider committing to a more extensive exploration program in the Karoo Basin. The Karoo Basin in South Africa has unproved shale gas potential and significant exploration efforts are required to assess and quantify this prospective resource.
"A discovery of large recoverable shale gas reserves in the Karoo Basin will be a game changer in the broader South African energy market context and will likely constitute a major step to further develop gas transmission and distribution infrastructure in the country," said Ebbie Haan, Managing Director of SPI.
Reported by Cristina Gallardo, write to cristina.gallardo@ordons.com
Heritage obtains green light for Uganda sale
Wednesday, 07 July 2010 16:59 offshore247.com
has obtained the necessary permit from the government of Uganda to sell its entire stakes in blocks 1 and 3a to Tullow Oil for up to US $1.50 Billion. "The transaction is expected to complete within five working days following finalisation with Government of a mechanism, including arbitration, for dealing with any taxes lawfully payable from the disposal of the Assets," Heritage said today.On completion of the deal Tullow is due to receive $1.35 Bn plus another $150 million deferred consideration in cash.
But there appears to be some wrangling over relates tax issues over the deal, with Heritage saying it has been advised that there is no tax payable on the deal in Uganda, while the one of the Ugandan government ministers is suggesting tax is payable on $404.925 m,
Heritage said the permission for the deal to its subsidiary Heritage Oil and Gas Limited (HOGL) is conditional on paying any taxes on demand which may arise from the disposal of the assets.
But the company goes on: "In a separate letter Mr. Kabagambe-Kaliisa, Permanent Secretary to the Ministry of Energy & Mineral Development, advised that if HOGL was to resolve the tax matter by arbitration in London, then such arbitration would be on the basis that HOGL deposit approximately US$121.5 million, representing 30% of the disputed amount of US$404,925,000 with the Uganda Revenue Authority and provide a bank guarantee for the balance. "
Heritage previously said on 17 June that it proposed to the Ugandan Government the option of arbitration in London.
"Heritage's position, based on comprehensive advice from leading tax experts in Uganda, the United Kingdom and North America, is that the disposal of the assets is not taxable in Uganda. Heritage is considering Government's response and will update the market in due course," the company said.
Reported by Cristina Gallardo, write to cristina.gallardo@ordons.com
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Congo president cancels block agreements with Tullow
Eric Watkins
OGJ Oil Diplomacy Editor
LOS ANGELES, June 25 -- Congo (former Zaire) President Joseph Kabila has cancelled an agreement with Tullow Oil Ltd. for two exploration blocks, awarding them instead to companies owned by a relative of South Africa's president.
Drilling rights for Blocks 1 and 2 on the Congolese side of Lake Albert, bordering Uganda, were granted to Caprikat and Foxwhelp, two firms that are registered in the British Virgin Islands and owned by Khulubuse Zuma, a nephew of South African President Jacob Zuma.
?We are geared up to partner with the [Congo] government in order to fast-track the development of these highly prospective gas and oil concessions,? Zuma said, adding, ?The contract should be viewed in the context of a developing strategic alliance between [Congo] and South Africa and is an important first step in the establishment of a wider industrial partnership between the two countries in the oil and gas sector.?
The Congo?s Ministry of Mines, which confirmed the awards, is seeking a $6 million signature bonus from the two BVI companies, while Tullow Oil registered its displeasure at the unexpected turn of events.
?We are reviewing our options but have no doubt about the legal validity of our claims to these blocks,? a Tullow spokesman said. ?The award of these licenses to an unknown [BVI]-registered company does nothing to help Africa build any sort of reputation for transparency,? he added.
?The last few weeks have shown the world the effect on the environment of an oil industry-related accident so to award exploration licenses in a very sensitive environmental area to a company with no oil and gas experience is absurd,? the spokesman said.
?Furthermore, no legitimate company will farm in to blocks with unknown BVI companies so I fail to see how these blocks are going to be developed for the benefit of the people? of Congo, he said.
Analyst BMI agreed with that assessment, saying that the award ?raises serious questions? over the Congo government's motivations and the future prospects of its underdeveloped oil and gas industry.
?Moreover,? BMI said, the award ?further highlights the above-ground political risks faced by companies operating in the country in spite of the potential for significant hydrocarbon reserves.?
In 2006, Tullow signed a contract to explore Blocks 1 and 2, paying a signing bonus of $500,000 for 48.5% stakes in each block. Tullow Oil had been hoping to integrate work on the two Congo blocks with its operations in neighboring Uganda where it has begun drilling appraisal wells and expects production to start next year.
However, Kabila declined to approve the agreement with Tullow and he also declined to approve another agreement made in 2008 when South Africa's Divine Inspiration Group (DIG) paid $2.5 million for the rights to Block 1.
In addition to the two new agreements made this week, the Congo also awarded Block 3 to South Africa?s SacOil, a 50/50 joint venture of the Encha Group and DIG.
SacOil Director Andrea Brown said her firm plans to start work immediately and is looking to invest a total of $100 million over the next 4 years.
Block 5 went to a consortium comprised of Soco International 38.25%, Dominion Petroleum 46.75%, and Cohydro 15%, while Polar Petroleum DRC, which registered in Congo in April, is seeking a memorandum of understanding for Block 4.
Contact Eric Watkins at hippalus@yahoo.com.
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Uganda
By OGJ editors
HOUSTON, June 22 ? 
Dominion Petroleum Ltd., Hamilton, Bermuda, said its Uganda unit has spud the Ngaji-1 exploratory well, first well in the Lake Edward basin in southwestern Uganda.
The well is projected to 2,000 m on Exploration Area 4B at a location the company deemed best to test the basin?s geology and identify elements of a working petroleum system.
The block adjoins the border with Congo (former Zaire), in which the majority of the basin and its potential reside. Block interests are Dominion 95% and Alpha Oil 5%.
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Eni seeking to re-enter Uganda's oil sector
Officials at the ministry of energy and minerals development said Eni wrote to the government early this month asking for an opportunity to be allowed back.
"Eni says that it has already spent $15 million to prepare an oil development plan for Uganda's oil sector, they want to be given a second chance," an official said. Eni couldn't comment immediately.
Eni announced that it had quit the country's oil sector in February after UK-based Tullow Oil PLC pre-empted its $1.5 billion deal with Heritage Oil PLC for half stakes in blocks 1 and 3A in the Lake Albert basin.
However, Claudio Descalzi, Eni's chief operations officer, wrote to Uganda's minister of energy earlier this month saying the company had committed enormous financial and human resources to Uganda's oil sector in the last six months and should be allowed back.
"We are prepared to reconsider our position as long as Eni is offered an opportunity to play a role in the Ugandan oil industry which is compatible," he wrote in a letter seen by Dow Jones Newswires.
Since last month, Eni executives have been in the country, trying to lobby government officials.
Government sources said talks with Tullow and its proposed partners, Cnooc Ltd. and France-based Total SA, are at an advanced stage on developing oil assets but the government hasn't yet formally approved Tullow's proposed takeover of Heritage interests.
Tullow and Heritage have discovered around 1 billion barrels in three exploration areas in the Lake Albert basin.
Reported by Cristina Gallardo, write to cristina.gallardo@ordons.com
Tullow finds more oil in Uganda; confirms earlier findings
Eric Watkins
OGJ Oil Diplomacy Editor
LOS ANGELES, Apr. 13 -- Tullow Oil PLC said its Kasamene-3 and Kasamene-3A wells in the Butiaba region of Uganda Block 2 have successfully delineated the extent of oil in the Kasamene field, and it discovered oil in the Wahrindi North fault block.
"These Kasamene and Wahrindi North exploratory appraisal results have successfully delineated the upside potential in this immediate area,? said Angus McCoss, Tullow?s exploration director. ?This takes us a significant step towards first oil in Uganda, which is expected from the Kasamene field in 2011,? he said.
Tullow said the Kasamene-3 well was drilled down-dip and 2.2 km to the southwest of the Kasamene-1 discovery well. It said the ?deviated well? was drilled to a total depth of 1,109 m and results of logging confirmed 10 m of oil pay within a 35 m thick reservoir section of the Kasamene field.
?Pressure data confirmed this pay to be in communication with the up-dip Kasamene-1 well, successfully extending the column height of these reservoirs to over 100 m,? Tullow said.
The UK-listed firm said ?high-quality? reservoirs 25 m thick were encountered on prognosis below the oil-water contact. ?This successful outcome proves the viability of this location as a future water injection point to support up-dip oil production,? it said.
Meanwhile, Tullow said a second well to explore the Wahrindi North fault block was drilled utilizing the top-hole section of Kasamene-3. This well, called Kasamene-3A, was drilled to a total depth of 988 m into a separate fault compartment 300 m to the southwest and encountered more than 15 m of oil pay.
Tullow said the rig will now move to the Kaiso-Tonya area to drill the Nzizi-3 appraisal well in support of the accelerated Nzizi gas development project.
Tullow has interests in three licenses in the Lake Albert Rift Basin in Uganda. It operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A, which are operated by Heritage Oil with a 50% stake in each.
Tullow has applied for approval by the Ugandan government to purchase Heritage?s stakes in the two blocks and to make farmout arrangements regarding them with Total SA and China National Offshore Oil Co.
According to analyst BMI, ?The entry of major industry players into its projects will allow Tullow to fast-track the development of its blocks and the necessary related infrastructure.?
However, the Ugandan government has not been in a hurry to make the approvals, saying in March it would defer its decision for a month.
"Our expectation is that by April we will have finished our evaluation and that the government will give the go-ahead for the transactions to proceed," said Kabagambe Kaliisa, the energy ministry's permanent secretary (OGJ, Mar. 22, 2010).
While awaiting that decision, McCoss said Tullow continues ?to work closely with the government of Uganda on plans for accelerating our exploration and appraisal activities in the region and look forward to commencing a multiwell program with a second rig in Block 1 next month.?
Contact Eric Watkins at hippalus@yahoo.com.
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Another OMV Tunisian well tests condensate
By OGJ editors
HOUSTON, Apr. 14 -- OMV AG has suspended for future production the sixth successive well to encounter hydrocarbons in a development play 700 km south of Tunis, Tunisia (OGJ Online, Feb. 16, 2009).
The Ahlem-2 appraisal well, drilled to 4,060 m TD on the Nawara production concession, flowed at a maximum stabilized rate of 3,300 boe/d of gas condensate from two condensate-bearing sandstone reservoirs. The condensate/gas ratio was 8 bbl/MMcf measured.
OMV (Tunesien) Exploration GMBH and its 50-50 partner in the concession, state-owned ETAP, have spudded another exploration well, Ritma-1.
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Libyan oil opportunities for Gazprom
The terms were agreed after a meeting between Gazprom CEO Alexei Miller and Eni head Paolo Scaroni. "The parties will prepare a corresponding agreement in the coming days and submit it to the Libyan government for approval," Gazprom said in a statement.
Under the deal, Gazprom is to take half of Eni's stake in the deposit with recoverable reserves of around 700 million barrels or a total of 33% in the project in exchange for Eni taking part in projects to develop northwest Siberian assets owned by the Arctic Gas company.
The Elephant oilfield, also known as the El Feel oilfield, is located onshore in Libya's Murzuq Basin. It was discovered in 1997 and produced about 125,000 barrels a day in 2006.
Reported by Cristina Gallardo, write to cristina.gallardo@ordons.com
ONGC arm loses race for Uganda oil block
The setback for ONGC Videsh Ltd, the overseas arm of the state-owned explorer, comes within weeks of acquiring a major crude oil block in Venezuala where it was the sole bidder.
ONGC?s failure could add weight to the oil ministry?s proposal of setting up a sovereign fund to compete with China in acquiring global oil and gas assets. Officials said, ?The failure in Uganda indicates the urgent need to set up a sovereign fund as the country?s energy demands are expected to increase and acquisitions abroad are the only way to ensure energy security.?
?We should encourage acquisition of overseas oil, natural gas and coal assets, including by the private sector,? the Planning Commission has said in its mid-term appraisal of the Eleventh Five Year plan.
Two years back, ONGC had bought Imperial Energy for about $2.2 billion to gain access to fields in Russia.
OVL was keen on Heritage Oil Plc?s 50 per cent share in Block 1 and 3a in the Lake Albert Rift Basin of Uganda. Heritage, however, decided to sell its stake to ENI Spa, Italy?s biggest energy producer, for about $1.5 billion. The deal couldn?t go through as the UK?s Tullow, which held the remaining stake in the Uganda blocks, exercised its right of pre-emption to block ENI.
OVL and Cairn later teamed up to make an offer to Tullow, but Cairn backed out once the Chinese entered the scene.
Cairn was replaced by Oil India and IOC,
and the offer was about $2.1 billion. The
China National Offshore Oil Corp (CNOOC), however, emerged winner with its
$2.5-billion offer.
Reported by Cristina Gallardo, write to cristina.gallardo@ordons.com
Gazprom starts drilling its first exploration well in Africa 
Moscow. Gazprom has started drilling its first exploration well in Africa in the El Assel onshore region in Algeria, the Russian energy giant said in a statement on Monday.
Under a contract signed with the Algerian National Hydrocarbon Agency (ALNAFT), Gazprom began drilling the Rhourde Sayah-2 well in the Berkine Basin in Algeria, the statement said.
The drilling is part of Gazprom's
obligations in regard to the terms of a tender for hydrocarbon
exploration and drilling of four wells on the El Assel onshore area,
which was won by the Russian energy giant.
According to provisional estimates, the
recoverable oil reserves of El Assel should average 30 million metric
tons (220 million barrels). El Assel includes three blocks covering a
total of 3,083 square kilometers (1,190 square miles).
Algeria's proven natural gas reserves
account for 4.58 trillion cubic meters and are the second largest in
Africa after Nigeria (5.15 trillion cubic meters). The bulk of the
country's natural gas reserves are concentrated in the central and
eastern parts of the country.
The country's proven oil reserves amount
to 1.58 billion tons (11.6 billion barrels) and are the third largest
in Africa after Libya and Nigeria.
Gazprom
intends to complete the drilling of the first exploration well in June
2010 and the other three over the next two years, the statement said.
Reported by Cristina Gallardo, write to cristina.gallardo@ordons.com
OMV makes fifth gas discovery in Southern Tunisia
European company OMV has announced the discovery and successful testing of gas and condensate in its Fella-1 exploration well in the recently granted Nawara Production Concession within the Jenein Sud exploration block in southern Tunisia. This is the fifth successive discovery in this area in the last four years and underpins the significant potential of the block.
The exploration well reached a total depth of 4,635 meters and encountered a total of 31 meters net gas and condensate pay in several Acacus Formation reservoirs at depths ranging from 3,720 to 3,980 meters. Both the reservoir thickness and condensate yield are equal to the best seen in OMV?s previous wells in the area and exceeded pre-drill expectations. Further exploration and appraisal activities in the concession are currently ongoing with drilling and testing of additional wells to increase the resource base and to pave the way for a field development in the coming years.
A single 13 meter (gross thickness) zone was tested at the base of the Acacus Formation, resulting in a flow of 16 mn cf/d (2,700 boe/d) of gas and 400 bbl/d of condensate. The total flow potential and condensate yield of this well is significantly higher. Drilling of the next well in the block, the Ahlem-2 appraisal well, commenced on February 9th, 2010. 
OMV and the 
Tunisian national oil company ETAP each hold a 50% interest in the Nawara Production Concession, 700 km south of the Tunisian capital Tunis.
OMV tests S. Tunisian gas-condensate find
By OGJ editors
HOUSTON, Feb. 16 -- OMV AG?s Tunisian subsidiary reported a gas-condensate discovery in the Silurian Acacus formation in the Ghadames basin 700 km south of Tunis.
The Fella-1 well in the Nawara production concession on the Jenein Sud block flowed 16 MMcfd of gas and 400 b/d of condensate from a single 13-m zone. The well, drilled to a total depth of 4,635 m, found 31 m of net gas-condensate pay in several reservoirs at 3,720-3,980 m, and said the well?s flow potential is much higher.
Reservoir thickness and condensate yield are equal to the best seen in OMV?s previous wells in the area and exceed the predrill estimate.
OMV said Fella is the fifth successive discovery at Jenein Sud in the last 4 years. It spudded the Ahlem-2 appraisal well on Feb. 9. The company plans to drill more exploratory wells and eventually develop the discoveries.
OMV and Tunisia?s state ETAP each holds 50% interest in Nawara.
OMV entered Tunisia in the early 1970s, and its 2003 acquisition of Preussag AG?s international exploration and production holdings gave OMV access to seven producing oil fields in southeastern Tunisia, the largest being Ashtart.
OMV has interests in two exploration and five production licenses in Tunisia. It operates the Jenein Sud exploration block and in April 2008 acquired an 80% operated share in the Sidi Mansour exploration area.
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Tullow may seek to bar Eni's Uganda entry
Eric Watkins
OGJ Oil Diplomacy Editor
LOS ANGELES, Dec. 16 -- Tullow Oil PLC may try to block a plan by Heritage Oil PLC to sell its 50% interest in Ugandan Blocks 1 and 3A to Italy?s Eni SPA for as much as $1.5 billion, according to local media.
Tullow owns Blocks 1 and 3A jointly with Heritage and is the sole owner of Block 2. Altogether, the three blocks are estimated to contain at least 2 billion bbl of oil.
Last month, Heritage announced an agreement to sell to Eni its 50% working stake in Blocks 1 and 3A, which cover the northern and southern end of Lake Albert (OGJ Online, Nov. 24, 2009).
?Following a strategic review, we have decided to enter into this letter of intent with Eni as we recognize the very large multibillion dollar investment that is required to develop the Albert basin and the related infrastructure,? said Heritage Chief Executive Officer Tony Buckingham.
However, Uganda?s Daily Monitor newspaper reported Tullow Vice-Pres. Tim O?Hanlon as saying the entry of Eni into Uganda's petroleum industry was unfortunate and that his company would exercise its ?right of refusal.?
O?Hanlon said the Heritage-Eni agreement had ?short-circuited? a process started by Tullow to source a partner to help develop the Ugandan oil fields.
O?Hanlon said, ?They [Heritage] have under our agreement to give us details of any deal they have entered. They have not. If they do and we can match the price, we have a right of preemption. This means Tullow will acquire those assets.?
He said, ?We always suspected their plan to exit. We say good luck. But in the choice of partner for future development, Uganda needs a holistic process. One that guarantees transparency.?
O?Hanlon said while the Ugandan government approves or disapproves every agreement, the right of veto or preemption is a commercial matter and not a matter for the government to decide. ?It?s purely a company-to-company affair,? he said.
Uganda?s commissioner for the Petroleum Exploration and Production Department Ernest Rubondo told the Reuters news agency that the government is aware of Tullow's intention to assert its right of refusal.
?Yes, Tullow has previously signaled to us of their intent to retain their partner's stake and we're watching. We'll discuss details when they come to us for approval of whichever firm is to take over their stake," he said.
Earlier this week, however, Uganda said it backed the proposed takeover by Eni as the country needs larger companies to help it exploit its oil reserves.
According to junior minister of energy and minerals Peter Lokeris the government fully supports Eni's plan because of the Italian company's expertise in oil production and refining.
Eni "is active in 70 countries around the world, including Angola, Ghana, Congo, Gabon, and Mozambique," Lokeris said.
Contact Eric Watkins at hippalus@yahoo.com.
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Eni buys Uganda interests from Heritage Oil
LOS ANGELES, Nov. 24 -- Heritage Oil PLC has agreed to sell its Ugandan interests?a 50% working stake in Blocks 1 and 3A, which cover the northern and southern end of Lake Albert?to Italy's Eni SPA for as much as $1.5 billion.
"Following a strategic review, we have decided to enter into this letter of intent with Eni as we recognize the very large multibillion dollar investment that is required to develop the Albert basin and the related infrastructure," said Heritage Chief Executive Officer Tony Buckingham.
Heritage said Eni will pay $1.35 billion up front, along with a further consideration of either $150 million in cash or a stake in a producing oil field of a similar value within 2 years. Heritage estimated that the sale would be completed in first quarter 2010.
said the blocks in the Lake Albert basin have resources for more than 1 billion boe and that 700 million bbl have already been discovered.
As a result of the agreement with Heritage, Eni Chief Executive Officer Paolo Scaroni said his firm is no longer looking into a possible entry in Tullow Oil PLC's Uganda acreage.
?We are not going ahead with the data room? of Tullow's Uganda assets, said Scaroni who last month said the Italian firm had entered Tullow's data room to potentially invest in the company's Lake Albert oil asset.
Scaroni said the first production from the Ugandan blocks Eni is acquiring from Heritage will be in 2014, and he forecast production of more than 50,000 b/d from 2016-17.
Eric Watkins
OGJ Oil Diplomacy Editor
South Africa shales, sandstones evaluation set
By OGJ editors
HOUSTON, Nov. 2 -- 
Falcon Oil & Gas Ltd., Denver, plans to evaluate the natural gas content of fractured shales and sandstones of Permian age in the Karoo basin 120 miles northeast of Cape Town, South Africa.
Under a technical cooperation permit, Falcon has up to 1 year to perform a technical appraisal of 7.5 million acres in the basin. The appraisal will include a review of the South African Petroleum Data Base.
The permit does not require Falcon to drill any wells and establishes the company in a priority position for exercising future exploration rights on lands covered by the permit, Falcon said.
Nine wells drilled in the area in the late 1960s and early 1970s encountered gas shows. One well, drilled in 1968, flowed at the rate of 1.84 MMcfd of gas from fractures without stimulation, according to a Soekor Inc. geological well completion report.
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PGNiG zaczyna szukać ropy w Egipcie
- 13-10-2009 06:12
Przynajmniej 200-300 mln dolarów będzie kosztowało poszukiwanie ropy w Egipcie. W środę PGNiG uruchamia tam swój oddział i zaczyna poszukiwania - czytamy w "Rzeczpospolitej".
Przetarg na koncesjÄ™ poszukiwawczÄ… Bahariya 
wygrało już dwa lata temu. Na razie koszty poszukiwań spółka szacuje na 48 mln dolarów, ale według pytanych przez "Rz" ekspertów, badania będą dużo droższe i wyniosą nawet 200-300 mln dolarów (głównie na rozległy teren - ponad 4,4 tys. km kw.).
PGNiG zobowiązała się w połowie maja m.in. do wykonania badań sejsmicznych i minimum dwóch odwiertów. Według rozmówcy "Rz", dwa odwierty nie wystarczą do zbadania terenu, więc najpewniej PGNiG wykona ich więcej i jeśli uda się od razu trafić na złoże, spółka będzie mogła uruchomić produkcję i jednocześnie prowadzić dalsze poszukiwania.
Materiał z portalu www.wnp.pl. Polskie Towarzystwo Wspierania Przedsiębiorczości 1997-2009