CNOOC Ltd broadens horizons

CNOOC Ltd, the listed unit of China National Offshore Oil  Corporation (CNOOC) is embarking on a plan that envisages increased co-operation with foreign oil companies at home and  overseas as it works to meet a  targeted hydrocarbon production growth rate of between 6% and 10% per annum from now until 2015.

Voser sharpens axe for Shell

Anglo-Dutch supermajor Shell plans further cost cutting and  lay-offs in an effort to “sharpen” its performance and increase profits.

Oil holds as Opec steers steady ship

OIL prices were robust this week, ending on a positive note on Wednesday due to a weak US  dollar and after Opec decided to keep output targets steady.

Qatar cool on LNG demand downturn

Gas superpower Qatar is not alarmed over threats to its liquefied natural gas exports from a downturn in global demand and is keeping open the option of  further developing its massive North Field reserves once a self-declared ban ends in 2014, Qatari Oil Minister Abdullah al-Attiyah told Upstream.

Nisconi clean sweep at South Mahakam

Japan’s Nippon Steel is poised to land all four turnkey contracts valued at more than $200 million in total at Total’s South Mahakam gas and liquids development off Indonesia.

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queensland, australia

Butlers-1 discovery measures up

Beach Petroleum said the Butlers-1 oil discovery drilled in PEL 92 in Queensland holds more than 1 million barrels of recoverable oil.

Upstream staff 29 June 2009 04:08 GMT

The estimated reserves in Butlers-1 is between 1.09 million barrels to 2.15 million barrels.

The well will be completed as an oil producer within a few weeks and will be tied to the production facilities for the nearby Perlubie and Parsons oilfields.

Beach Petroleum operates PEL 92 in Cooper-Eromanga basin with a 75% interest. Cooper Energy holds the remaining 25%.

Published: 29 June 2009 04:08 GMT | Last updated: 29 June 2009 06:35 GMT

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news from other nhst publications

CNOOC Ltd broadens horizons

Voser sharpens axe for Shell

Oil holds as Opec steers steady ship

Qatar cool on LNG demand downturn

Nisconi clean sweep at South Mahakam

Butlers-1 discovery measures up

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