Exploration & Production

Appraisal well drilled in NW Gemsa

CIRCLE HAS ANNOUNCED that the Al Amir SE-2X appraisal well has been drilled in the onshore North West Gemsa Concession in Egypt. Circle has confirmed a discovery in the Kareem Formation sandstones, with the well testing 41 degrees API oil and gas at sustained average rates of 5,785 bopd and 7.8 MMscfd using a 64/64" choke from the lower of two identified pay zones.

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No bid for Iraq oil

BG INTERNATIONAL OF the UK, US company, Anadarko Petroleum Corp., and Wintershall Holding AG's BASF SE of Germany are not planning to submit offers to develop Iraq's oil and gas fields announced in the first bidding round, an authorised oil ministry spokesman said.

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Iran and China sign US$1.76 billion deal

IRAN AND CHINA have signed a US$1.76 billion deal for the initial development of Iran's North Azadegan oilfield, Iran's official IRNA news agency has reported. The deal was signed between the China National Petroleum Corp. and the National Iranian Oil Co.

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Tax break sees Kazakh production resume

ARAWAK HAS RESUMED oil production at its four operated fields in Kazakhstan. Arawak announced on December 5, 2008 that it had curtailed production at the fields following a significant deterioration in margins owing to high taxation and a material decline in world oil prices.

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