Exploration

The Chinese giant CNOOC is one of the latest companies to show interest in oil and gas exploration offshore Cyprus.

KPC and Total have signed an MOU regarding their joint Zhanjiang project in China.

Odfjell Offshore plans to raise US$ 500 million for fleet development.

Anadarko Petroleum has announced that it has struck oil at its Caesar-Tonga development in the Gulf of Mexico.

Anadarko Petroleum has discovered gas reserves of between 90 million and 100 million ft3/d

The Brazilian state giant Petrobras confirms that it has struck oil at Nordest de Tupi.

ExxonMobil and GE have publicly announced their support for a new university initiative designed to help bring latest LNG best practices to shale development.

Hydratight has launched an updated emergency pipeline repair system to offer better disaster planning and contingency services to operators and contractors.

Seadrill has placed a US$ 1.2 billion drillship order with Samsung Heavy Industries.

Statoil has made a huge gas discovery in the Block 2 license offshore Tanzania in the Zafarani exploration well, logging results show that reserves may be as high as 5 trillion cubic feet.

Austin Exploration Ltd has resolved to raise up to approximately $20 million to fund a new drilling campaign in the Eagleford and Niobarra shale areas. The company plans to raise the funds through a share placement and a shareholder share purchase plan.

The American Petroleum Institute has called the President’s approach to energy security a Jekyll and Hyde approach and says it hurts consumers.

EnerGulf Resources Inc. has announced the results of a report into the 2.2 million acre Block 1711, located offshore Namibia. The Prospective Oil and Contingent Gas Resources Report prepared by the firm Netherland Sewell and Associates Inc. includes an unrisked gross mean estimate of potentially 3.166 Billion barrels of oil on the block.

Shell exploration and Production has offered US$ 1.6 billion (£ 992.4 million) to buy UK based Cove Energy.

The USA and Mexico have agreed to work together when drilling for oil and gas that goes beyond the shared maritime boundary. The US secretary of State Hilary Clinton and The Mexican Foreign Secretary signed the deal yesterday in the presence of the Mexican President Felipe Calderon and the US Interior Minister Ken Salazar.