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2014-03-17 08:03:00

SHELL HITS OIL

SHELL HITS OIL

UPSTREAM. Shell has made an oil discovery with an appraisal well at the Limbayong gas field off the coast of Sabah, Malaysia.
State-run Petronas, which holds a stake in the well, revealed on Monday the Limbayong-2 well had intersected 136 metres of oil bearing sands and added more work would be carried out on the discovery to determine its recoverable volume.

"We are indeed pleased with the discovery which affirms the hydrocarbon prospects of Malaysia's deep-water areas," Petronas executive vice president of exploration and production, Dato' Wee Yiaw Hin said.

The Limbayong discovery lies in 1000 metres of water on Block J, which also hosts the Gumusut oilfield, and is understood to have been made in the early 2000s and contains about 800 billion cubic feet of gas reserves.

The drilling of Limbayong-2 was carried out by a consortium which includes Shell (35%), ConocoPhillips (35%) and Petronas (30%).

Tags: SHELL, OIL, GAS, MALAYSIA, CONOCOPHILIPS, PETRONAS

Chronicle:

SHELL HITS OIL
November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

SHELL HITS OIL
November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

SHELL HITS OIL
November, 20, 09:35:00

OIL PRICE: ABOVE $62 YET

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.

SHELL HITS OIL
November, 20, 09:30:00

ROSNEFT'S WORLD RECORD: 15000 M

Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.

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