Oil & gas news

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.

Statoil have awarded Technip a contract, valued above €150million, for the major Åsgard subsea compression project located in the Norwegian Sea, 40 km east of the Åsgard field, at a water depth of 340 m.

Petmin has signed a renewable five-year agreement that will enable it to export up to 600,000 tpa of metallurgical anthracite from Grindrod Terminals Kusasa dry bulk facility in Richards Bay.

Federal prosecutors have filed charges of conspiracy to defraud the US federal Government against the former managers of Massey Energy, who were in charge of the company at the time of the Upper Big Branch (UBB) mine disaster that killed 29 coal miners in April 2010.

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

Drax Group plc has abandoned plans for a dedicated biomass power plant, but pledged to invest £50 million to increase its biomass co-firing capacity.

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.

Shah Deniz, the consortium developing a natural gas field offshore Azerbaijan, has narrowed down its options for carrying that gas to Europe.

Anadarko has encountered more gas reserves in its Lagosta 3 appraisal well, providing more gas for its proposed LNG liquefaction project.

Technip was awarded a lump sum contract by Hess Corporation for the development of the Tubular Bells field, located in the Mississippi Canyon area of the Gulf of Mexico at a water depth of approximately 4500 ft (1370 m).