Energy
Indonesia
Mitra Energy (Indonesia Sibaru) Ltd. plugged and abandoned the Mojo-1 exploratory well on the 3,180-sq km Sibaru block between East Java and East Kalimantan, Indonesia.
....Louisiana
Phoenix Exploration LP, Houston, is drilling a projected 18,800-ft exploratory well on the Marathon prospect in Atchafalaya Bay in South Louisiana.
....GAO: Protests don't affect federal onshore lease prices
Despite concerns expressed by the oil and gas industry, protests and leasing delays have not significantly affected prices bid for federal onshore leases, the US Government Accountability Office said on Aug. 30.
....California
Neon Energy Ltd., Perth, has completed and turned to production at an average 230 b/d of oil its Lombardi 15-27H horizontal development well near the crest of the southern lobe of North San Ardo field in California’s Salinas basin.
....Joint venture to fund Bangladeshi refinery expansion
A Saudi investment group has joined a Bangladeshi industrial conglomerate to invest nearly $1 billion in an expansion of Bangladesh’s only refinery.
....PNG LNG project venture signs design contract
The 50-50 engineering joint venture of Clough Australia, Perth, and BAM International, the Netherlands, has been awarded a letter of intent to proceed with the design and construction of the LNG and condensate offloading jetty proposed for Exxo.......
EDF puts up electricity prices for 1 million customers
MARKET WATCH: Crude oil falls below $75/bbl; ends 3-day rally
Pulled down by a tumbling equities market despite a report that consumer spending hit a 4-month high, the front-month crude oil contract fell 1.3% to below $73/bbl, ending a 3-day rally Aug. 30 in the New York market.
....Trinidad and Tobago offers 11 blocks in latest bid round
Trinidad and Tobago announced the offering of 11 deepwater blocks for bid in its 2010 licensing round.
....BP advances Andrew area development off UK
BP PLC is proceeding with its Andrew Area Development project in the central UK North Sea.
....Indonesia seeks $2.4bn oil spill compensation
Egypt
Production from Kom Ombo Block 2 in southern Egypt is 700 b/d of 37° gravity sweet crude.
....Iroquois launches opens season for bidirectional flow
Iroquois Gas Transmission System LP began a binding open season Aug. 30 for its Wright Transfer Compressor (WTC) project, which would add as much as 15,400 hp of transfer compression at Iroquois' existing interconnection with Tennessee Gas Pipe.......
Louisiana
EXCO Operating Co. LP’s Thomas 36-1 well in North Louisiana’s Johnson Branch field had a post-completion clean-up rate of 15 MMcfd of gas with 7,000 psi flowing casing pressure from the Haynesville shale, said 37% working interest o.......
Iraq
Eni let a multimillion dollar contract to Halliburton to provide integrated energy services toward redeveloping giant Zubair oil field near Basra in southern Iraq.
....Colombia
SK Energy Co. Ltd., Seoul, plans to shoot 3D seismic over La Mocha Consuelo, highest-potential prospect on the 570,000-acre SSJN-5 block in Colombia’s Lower Magdalena basin based on encouraging results from reprocessed 2D seismic.
....Louisiana
Nelson Energy Inc., Shreveport, is drilling a horizontal Austin chalk exploratory well east of North Bayou Jack oil and gas field in eastern Avoyelles Parish, La.
....UK
BG Group PLC will farm out a 35% interest in the P1722 license in the UK Central North Sea to KazMunaiGas Exploration Production, Astana, Kazakhstan.
....Power industry to re-energise skills
'Green tax will leave public sector worse off'
The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more