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Happy Holidays!
Oil and Gas International will not be updated between 15 December and 5 January so our worldwide staff can take a short holiday. The site is fully functional but news will not be updated during this time. All paid subscriptions receive an additional month to compensate for this brief time out.

President makes major discovery in Paraguay
President Petroleum has penetrated the Santa Rosa Formation in the Pirity Concession in Paraguay's Chaco Basin with its Lapacho x-1 well...

Air strikes & surface battles as rival factions vie for Libya's oil ports
(12/14/2014) Rival factions are waging all out battles for the control of Libya's major eastern oil ports at Es Sider and Ras Lanuf in addition to key oilfields...

Romania to extend Romgaz concessions to 2030
(12/14/2014) Romania's National Agency for Mineral Resources has requested government approval to extend by 16 years nine Romgaz concessions...

Petroperu awards northern Blocks III and IV to Grana y Montero
(12/14/2014) Peru's government energy agency Petroperu has awarded Blocks III and IV in the country's northern region to the energy unit of Grana y Montero...

KazMunaiGas puts Kazakhstan's Aksai Field on production
(12/14/2014) KazMunaiGas Exploration Production has commenced production at its Aksai oil and gas field onshore central Kazakhstan near Akshabulak Field...

Terra Nova prepping to drill in South Australia's Cooper Basin
(12/14/2014) Terra Nova Energy has initiated the process of acquiring required permits and heritage clearance for its upcoming exploration drilling campaign...

Petronas extends PSC for block off Peninsular Malaysia
(12/14/2014) Petroliam Nasional has extended its production sharing contract with EnQuest subsidiary EQ Petroleum Production Malaysia and partners...

UK North Sea Lomond platform evacuated as burning vessel nears
(12/14/2014) The BG Group has evacuated the Lomond platform in the UK North Sea as a safety precaution due to the approach of a burning supply vessel...

Magseis awarded UK North Sea seabed seismic acquisition
(12/12/2014) The Norwegian ocean bottom seismic acquisition specialist Magseis has been awarded a letter of intent for a seabed seismic data collection project...

Alta Mesa sells Texas Eagle Ford Shale assets
(12/12/2014) Alta Mesa Holdings' subsidiary Alta Mesa Eagle has agreed to sell certain oil and gas producing properties in the Eagle Ford Shale area of Texas...

Russia's 2015 oil output put at 10.56-10.60 million b/d
(12/12/2014) The Russian Energy Ministry has advised that Russian oil production could reach between 10.56 million to 10.60 million b/d next year...
US working rotary rig fleet down by 27 rigs this week
(12/12/2014) Baker Hughes has reported the number of working rotary rigs in the United States fell this week to a total of 1,893, still more than last year...

Eni projects gas production from Jangkrik fields in Makassar Strait
(12/12/2014) The Eni Muara Bakau subsidiary of Ente Nazionale Idrocarburi is expected to commence gas production from fields offshore Kalimantan, Indonesia...

Petronas to develop high CO2 gasfield offshore Sarawak
(12/12/2014) Petroliam Nasional is to begin the development of the first phase of the K5 Field offshore Sarawak at a cost of US$500 million to $1 billion...

ONGC contracts Patel & Sai for 3D and 3D/3C surveys in Gujarat
(12/12/2014) Oil and Natural Gas Corporation has selected Patel Engineering & Services and Sai Enterprises for integrated seismic and shot hole drilling...
US working rigs expected to decrease by almost 600
(12/12/2014) Genscape has forecast that there will be a loss of around 600 rigs from the working rig fleet in the United States over the coming eight months...

Beach finalizing 1st stage of Nappamerri Trough Gas Program
(12/12/2014) Beach Energy has advised the first stage of its Nappamerri Trough natural gas program in Queensland and South Australia is nearing completion...

Gas2Grid granted 2-year tech moratorium on Philippine block
(12/12/2014) Gas2Grid Limited's application to the Philippine Department of Energy for a two-year technical moratorium on its onshore block has been approved...

Husky starts steam operations at Sunrise in situ project in Alberta
(12/12/2014) Husky Energy has commenced steam operations at the in situ Sunrise Energy Project in northeast Alberta targeting First Phase output...

Santos makes 2nd wet gas find in South Australia
(12/12/2014) Santos has achieved a second wet gas discovery with its Yarowinnie South-1 well in the Western Cooper Wet Gas Fairway of the Cooper Basin...

SeaBird to start 17,000-45,000 km 2D survey
(12/12/2014) SeaBird Exploration has reported receipt of a memorandum of agreement for acquisition of up to 45,000 km of 2D seismic data commencing in February...

Mexico opens bidding for Gulf of Mexico exploration
(12/11/2014) The Mexican Ministry of Energy has launched the country's first licensing round in which private companies can compete for exploration rights...

NETL modeling tool to prevent oil spills
(12/11/2014) A new modeling tool created by scientists at the National Energy Technology Laboratory is helping to prevent future hydrocarbon leaks...

Polarcus winds up Flanagan 3D shoot off Tasmania
(12/11/2014) 3D Oil has reported the Flanagan 3D seismic survey being acquired by the Polarcus Asima in the company's Otway Basin permit area has concluded...

Shell & TPAO set to drill Turkey's Western Black Sea
(12/11/2014) Turkey's Minister of Energy Taner Yildiz has reported Royal Dutch Shell and Turkiye Petrollelri Anonim Ortakligi will undertake an exploration program...

Santos cuts planned spending in 2015 by $700 million
(12/11/2014) Santos has reduced its projected 2015 capital expenditure to US$2.0 billion from the previously planned $2.7 billion due to the fall in oil prices...

Statoil wins PSA consent to drill Krafla Prospect off Norway
(12/11/2014) The Norwegian Petroleum Safety Authority has given its consent to Statoil to carry out exploratory drilling on the Krafla Prospect in the North Sea...

Contract finally signed for FPSO on Madura BD Field
(12/11/2014) Bumi Armada has advised that its has received a contract to supply a floating production, storage, and offloading vessel offshore Indonesia...

TAG Oil awarded 2 permits onshore New Zealand
(12/11/2014) New Zealand Petroleum and Minerals has awarded TAG Oil 100% interest and the operatorship of two new onshore Taranaki Basin permits...

Yamal-Nenets' Urengoyskoye Field 1st stage on production
(12/11/2014) Novatek has reported the initial stage of the Urengoyskoye Field in the Samburgskiy license area in Russia's Yamal-Nenets Autonomous Okrug...

Senex's Vanessa-1ST flows on test at 5 million cf/d
(12/11/2014) Senex Energy has reported strong production test results from its Vanessa conventional gasfield in South Australia's sector of the Cooper Basin...

ExxonMobil contracts Sintana rig for Colombia well
(12/11/2014) Sintana Energy has advised that ExxonMobil Exploration Colombia has contracted a drilling rig to drill the vertical exploration well Manati Blanco-1...

InterOil's Bobcat-1 an onshore Papua New Guinea discovery
(12/11/2014) InterOil has notified the Papua New Guinea Department of Petroleum and Energy of an onshore discovery with its Bobcat-1 exploration well...

 For more headlines, select from OGI Departments at top left
From the Editor

We're taking a brief holiday

Dev George
Managing Editor

Between 15 December and 5 January, Oil and Gas International will not be updated so that our worldwide staff can take a short holiday. During that time, the site will be fully functional and all departments and archives will be accessible as usual, but news and headlines will not be posted and there will be no e-newsletter during this period after today. Subscribers are compensated for the time off with extension of their subscriptions.
Oil and Gas International is now entering its 15th year. It has surpassed all competitors to become the world's leading online source of upstream oil and gas news, information, and analysis. We're proud of that achievement. For a decade and a half, we have been totally committed to making OGI the best source of upstream petroleum industry news from around the world with 23 industry journalists reporting on oil and gas in their country or region, and we provides more maps, photography, and graphics to illustrate our reports than any other industry site.
For now, however, on behalf of everyone at Oil and Gas International, I would like to thank all of our subscribers and advertisers for their support and confidence over the past 14 years and wish you one and all the very best holiday season and a healthy, happy, and prosperous New Year 2015.
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Oil/Gas Prices & Analysis
IEA forecasts for 2015 send prices to new record lows

(12/12/2014) The International Energy Agency (IEA) today cut its growth forecast for global oil demand in 2015 by 230,000 b/d to 900,000 b/d because of further weakening of demand and an oversupply of crude due to excessive production, especially from Saudi Arabia and several other major members of the Organization of Petroleum Exporting Countries (OPEC), as well as by shale oil producers in the United States and non-OPEC oil producing nations...⇒⇒⇒
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