Gulf Oil and Gas Newsletter June 2008 Vol 6 Issue 24

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Gulf Oil and Gas Newsletter June 2008 Vol 6 Issue 24

6/23/2008 12:15:44 PM

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Gulf Oil and Gas Newsletter June 2008 Vol 6 Issue 24

Newsletter Volume 06 Issue 24

Asia & Middle East Highlights

Total Signs Heads of Agreement with SOCAR for the Absheron Area in Azerbaijan
Total announced that it has signed a heads of agreement with Azerbaijan’s state-owned SOCAR, setting out the main terms of a production sharing agreement (PSA) for a license in the Absheron area. More...

Arawak completes acquisition of 40 percent stake in the Saigak field in Kazakhstan
Arawak Energy announced that it has completed the acquisition of Saigak Investments BV, a company that has a 40% participating interest in the Saigak field in Western Kazakhstan, from Vitol BV. This transaction was originally announced in June 2007, following the signature of an initial agreement, which was subject to certain conditions, including obtaining necessary statutory and governmental approvals. More...

Imperial Announces New Discovery East of Ob River
Imperial announced the first new oil discovery on the Company’s Kiev Eganskoye field, East of the OB River, Tomsk region, Russian Federation. The Kiev Eganskoye vertical well 361 was spudded on the 3rd of May 2008 on Block 80 on the right bank of the Ob river and has encountered and cored 7 m oil bearing B8 (Cretaceous) sandstones at a depth of 2278.3m. More...

Second zone flows gas in Kuzey Arpaci-1 well Edirne, Western Turkey
Otto Energy and Incremental Petroleum announced further excellent flow rates from the recently drilled exploration well, the Kuzey Arpaci-1. The first zone tested flowed dry gas at a rate of 1.15 MMscf/d over the interval 462.8m to 467.5m at a stabilized rate of 1.15MMscfg/d through a ½ choke. More...

Africa Highlights @ GulfOilandGas

Afren Announces First Oil from the Okoro Setu Project
Afren and its partner Amni International Petroleum Development Company announced First Oil from the flagship Okoro Setu Project, located in OML 112, in shallow water offshore Nigeria. In June 2006, Afren announced the agreement signed with AMNI, a well established indigenous oil & gas company, for participation in the development of the Okoro Setu Project. More...

Wavefield Inseis receives LOI from BP Libya for 3D seismic contracts
Wavefield Inseis announced that it has received a letter of interim arrangement from BP Exploration Libya Ltd for one of the world’s biggest 3D seismic acquisition and onboard processing contracts. More...

Events @ GulfOilandGas

SEAAOC 2008 - South East Asia Australia Offshore Conference
Run in partnership with the NT Department of the Chief Minister, SEAAOC is a pioneering international opportunity to discuss key gas and LNG developments located across the whole northern Australian band and SE Asia.

CIPEE 2008
As one of China's leading shows for the oil & gas industry, China International Petroleum Equipment & Technology Exhibition 2008 (CIPEE2008) is the ideal gateway for international exhibitors who wish to gain a successful foothold in the rapidly expanding Chinese market.

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Oil Market @ GulfOilandGas

Product Markets and Refinery Operations - May 08
Gasoline stock-draws in the US along with the tight distillate markets in Europe and Asia supported the product market, lifting refining margins across the globe. The current sentiment of the product market may be compounded further, providing support for crude prices as the driving season approaches. More...

World Oil Supply
World Oil Demand
Balance of Supply/Demand

www.gulfoilandgas.com

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Gulf Oil and Gas Newsletters 2008

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