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Massive oil reserves estimated for Namibia block (2/21/2012) EnerGulf Resources has received a mean estimate of 3.166 billion bbl of recoverable oil in four prospects and nine leads... Petrofac wins Iraq field development project (2/21/2012) Gazprom Neft, operator for the consortium developing the Badra Field in eastern Iraq has contracted Petrofac... INGP Pars wins 3 Iran field development contracts (2/21/2012) The Inter Naft Gas Prom Pars consortium of Iranian and Ukrainian companies has been awarded a contract... NZEC testing CM-2, drilling CM-3 onshore New Zealand (2/21/2012) New Zealand Energy Company has initiated an extended production test of its Copper Moki-2 well in the Taranaki Basin... Husky puts Oklahoma Hancock well onstream (2/21/2012) Xtreme Oil & Gas has reported operator Husky Ventures has begun production from its Sooner Trend well... Africa Petroleum makes deepwater Liberia discovery (2/21/2012) African Petroleum has made an oil discovery in the deepwater sector of offshore Liberia with its exploration well... BP Norge extends Safe Scandinavia at Valhall (2/21/2012) Prosafe has received notice from BP Norge of its exercise of options to extend its use of the accommodation rig... Desire receives 3D seismic over Falkland blocks (2/21/2012) Desire Petroleum has received the final processed 3D seismic volume covering its South Atlantic concessions... Tullow completes $2.9 billion Uganda farm-down (2/21/2012) Tullow Oil has finally been able to complete farm-down of its Ugandan licenses to CNOOC Limited and Total... Schuepbach wins 2 onshore Uruguay blocks (2/21/2012) Schuepbach Energy has signed contracts with ANCAP for onshore oil exploration and exploitation concessions in central Uruguay... PGS providing seismic data for 2nd Cyprus round roadshow (2/21/2012) Cyprus' Ministry of Commerce, Industry, and Tourism has opened its second licensing round for exploration blocks... Escondido taps down 17 South Texas gaswells (2/21/2012) Escondido Resources has concluded its horizontal drilling program in South Texas with 17 wells averaging 7 million cf/d... Camac signs for 3 Kenya exploration blocks (2/21/2012) Camac Energy has concluded heads of agreement with the Kenyan Ministry of Energy for three exploration blocks... Lagosta-3 appraisal well proves Mozambique play (2/21/2012) The Lagosta-3 appraisal well drilled offshore Mozambique to determine the expanse and volume of the Lagosta discovery... PDC set to drill 4th D-J Basin horizontal in Colorado (2/21/2012) PDC Energy is gearing up to drill its fourth horizontal Niobrara well in the Wattenberg Field with its Leffler 24-1H well... Nextraction prepping for Provost Viking wells (2/20/2012) Nextraction Energy has advised it is in the process of securing licenses for two wells on Provost Viking oil project in Alberta... Statfjord B platform wins life extension approval (2/20/2012) Statoil has received permission from Norway's Petroleum Safety Authority to continue to use the Statfjord B platform... Dejour's South Rangely reserves estimate upped (2/20/2012) Dejour Energy has received an evaluation of its South Rangely Project in Colorado that increases its proven reserves... Norway to shoot seismic in previously disputed Barents Sea (2/20/2012) The Norwegian government is making preparations to carry out seismic acquisitions over the area of the Barents Sea... URS acquiring Flint Energy Services for $1.25 billion (2/20/2012) URS Corporation and Flint Energy Services have agreed to URS acquiring Flint for some US$1.25 billion and its debt... PGS wraps up Chariot's 3D shoot off Namibia (2/20/2012) Petroleum Geo-Services has concluded its 3D seismic acquisition offshore Namibia on behalf of Chariot Oil & Gas... Total to put UK North Sea Islay Field on production (2/20/2012) Total is making final preparations for the commencement of production at its operated Islay gasfield in March... US and Mexico agree to Gulf of Mexico collaboration (2/20/2012) At the Group of 20 meeting, the United States and Mexico took the opportunity to sign an agreement to cooperate... Xcite gets upgrade of UK Bentley Field resources (2/20/2012) Xcite Energy has obtained an independent resource estimate of its Bentley Field in the UK sector of the North Sea... GeoGlobal selling stake in 4 India blocks to Fire Creek (2/20/2012) GeoGlobal Resources is in the process of selling its interest in four onshore blocks in Gujarat, India's Cambay Basin... Thiess & EV LNG win Wheatstone LNG contract (2/20/2012) The Leighton Group's Thiess unit in joint venture with EV LNG Australia has won an approximately US$500 million contract... Egdon & Celtique farm out stake in onshore UK license (2/20/2012) Egdon Resources and Celtique Energy Petroleum have each farmed out interest in their onshore UK license area... Ormil drilling for CSG in Australia's Sydney Basin (2/20/2012) Ormil Energy has commenced drilling for coal seam gas in its New South Wales Illawarra coal measures permit area... Northern revving up Netherlands output (2/20/2012) Northern Petroleum is working to counter the natural decline in production from existing wells and increase production... Statoil to use Aker Barents to plug Barents Sea well (2/20/2012) The Norwegian Petroleum Safety Authority has given its permission to Statoil to employ the semisubmersible rig... Hess selects Technip for US Gulf Tubular Bells contract (2/20/2012) Hess Corporation has contracted Technip for development of the deepwater Tubular Bells Field... For more headlines check each department in Site Navigation. From the Editor Time for payback for public subsidy of petroleum industry Dev George Managing Editor Next year it will have been 100 years since the first public subsidy of the US petroleum industry was enacted in the form of the oil depletion allowance part of the original income tax law of 1913. Since then, the public subsidizing of oil and gas companies has been virtually sacrosanct and, as a consequence, the accumulated tax breaks have amounted to approximately US$40 billion and become enshrined as an untouchable right by the industry in essentially every aspect of oil exploration...Continue Click here for prior editorials. Oil/Gas Prices & Analysis Prices end mixed in trade limited to ICE (2/20/2012) The New York Mercantile Exchange (Nymex) was closed today for the US Presidents Day holiday, thus only settlements at the InterContinental Exchange (ICE) in London were reported, leaving those traded among our monitored benchmarks mixed by the bell. Expectations were that European Union finance ministers and the Greek government were on the verge of an agreement to terms for bailout funds to prevent Greece from becoming insolvent...Go to latest O&G prices/analysis Feedback Click here to email your comments and suggestions on this site and any of its articles. Click here to read feedback comments. What's New New Book Review: Managed Pressure Drilling by Dr Wilson C. Chin Tools Glossary World Time Zones Measurement Conversions Currency Converter About This Site | Contributer's Guide | Newsfeed Services | 2012 Advertising Info | Contact Us ©Copyright 2001-2012, Oil and Gas International, all rights reserved. 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