Independents are moving along in their pursuit of international rewards. Executives with some companies that operate abroad shared their experiences recently at a forum sponsored by IHS Energy in Houston. In Asia, activity has been affected by national oil companies, said Carl Scharpf, China exploration manager, Burlington Resources. China's CNOOC especially is an important ally for companies exploring in Asia, he said. During the last 10 years, national oil companies have discovered 5.8 billion barrels of oil and 94 trillion cubic feet (Tcf) of gas. International oil companies have discovered 5.9 billion barrels and 77 Tcf, Scharpf said. China has been home to the largest number of oil discoveries in the last 10 years, but Vietnam boasts the largest average field size. For gas, Indonesia contains the most fields, but Bangladesh has the biggest average field size. Ian Cross, vice president, IHS Energy, said Asian governments have been surprisingly helpful to international oil companies wanting to do business there. "I feel they've been doing quite a lot," Cross said. Malaysia has a deepwater round scheduled for late 2003. Sri Lanka plans an offshore round in late 2003, Thailand plans its 19th round in 2004. -Jodi Wetuski
Recommended Reading
Petrobras’ 2Q Production Rises 2.4% YOY to 2.7 MMboe/d
2024-07-31 - Brazil’s state-owned Petrobras reported average production of 2.7 MMboe/d in second-quarter 2024 as offshore production continues to ramps up.
GreenFire Appoints Rob Klenner as President to Deliver Geothermal Solutions
2024-08-27 - As president of GreenFire Energy, Rob Klenner will be responsible for overseeing GreenFire’s geothermal energy projects.
Archrock Offers $500 Million in Secure Notes for TOPS Deal
2024-08-12 - Archrock is raising debt and selling equity to pay for its $983 million acquisition of Total Operations and Productions Services.
California Resources Surpasses Tender Amount on Senior Notes Due 2026
2024-08-22 - As of Aug. 21, the early tender time, California Resources Corp.’s principal amount tendered reached $488,467,000, exceeding the maximum tender amount.
Endeavor Energy Founder Autry Stephens Dies at 86
2024-08-16 - Stephens created a legacy in the Permian Basin that Endeavor said will continue to shape the future of the company.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.