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Posts on ‘September 7th, 2004’

Nippon Oil To Start LNG Production in Sarawak, Malaysia

THE WALL STREET JOURNAL: Nippon Oil To Start LNG Production in Sarawak, Malaysia

“Shell Malaysia, a unit of Royal Dutch/Shell Group (RD) is the main project operator.”

DOW JONES NEWSWIRES

Posted 7 Sept 04

TOKYO — Japan’s Nippon Oil Corp. (5001.TO) said Monday its oil and gas exploration unit started in late August commercial production of natural gas at the Jintan offshore gas field in Malaysia.

August 31, Nippon Oil Exploration (Sarawak) Ltd. started commercial gas output at the field and will deliver natural gas via a pipeline to a liquefied natural gas plant in Bintulu, Nippon Oil said in a statement.

Shell Malaysia, a unit of Royal Dutch/Shell Group (RD) is the main project operator. It holds a 37.5% interest in the Jintan gas field, which is located in the SK-8 block offshore Sarawak, East Malaysia, while Nippon Oil owns a 37.5% stake and Petronas Carigali holds 25%. read more

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Shell Gabon, Partner Make Light Oil Discovery

THE WALL STREET JOURNAL: Shell Gabon, Partner Make Light Oil Discovery

DOW JONES NEWSWIRES

Posted 7 Sept 04

Edited Press Release

LONDON — Shell Gabon and its co-venturer Pan-Ocean Energy Corporation Limited said Monday that they have made a light oil discovery.

The exploration well is AWOKOU-1, located on the Koula prospect in the Awoun Permit situated eight kilometres to the north of the Total/Shell producing Avocette field and five kilometres to the northwest of the PanOcean’s producing Obangue field onshore Gabon, West Africa.

Shell, the operator, and PanOcean each have a 50% interest in the well prior to the government 20% back-in. read more

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Gas wells in ocean out of favour

LONDON FREE PRESS (CANADA): Gas wells in ocean out of favour

“After Shell Canada paid $28 million after-tax dollars for its 30-per-cent stake in the Weymouth disappointment, it let all three of its deep water licences expire.”

JAMES STEVENSON, CP

2004-09-07 02:02:30

Disappointments in the deep water exploration hunt for new natural gas reserves off the coast of Nova Scotia keep adding up, and with each well costing upward of $100 million to drill, enthusiasm in the basin is getting harder to find than the gas. Despite great hope and nearly a dozen wells drilled in the past three years deep into the North Atlantic, success has been eclipsed by dry holes and abandoned wells.

As energy companies begin to examine their capital spending programs for 2005, it’s possible that no deep water wells will be drilled next year at all. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Bids for New Oil Field Development Contracts in Iran

Persian Journal: Shell Bids for New Oil Field Development Contracts in Iran

Bloomberg

Sep 7, 2004

Royal Dutch/Shell Group, Europe’s second-largest oil company by market value, bid last month to develop new oil fields in Iran as its existing development contracts run out, a Shell spokesman said.

The Iranian National Oil Co., the second-largest state-owned oil company in the Middle East, said last week it was reviewing bids by foreign companies to explore and develop 16 potential oil fields. More than 30 companies bought the tender documents for the developments, Middle East Economic Digest reported on Sept.3, without saying how it got the information. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BG lifts Egyptian offshore gas stake

Financial Times: BG lifts Egyptian offshore gas stake: “The Reading-based company pre-empted the sale by Royal Dutch/Shell, the Anglo/Dutch energy group, of its interest on the Nile Delta’s Rosetta venture…”

By Carola Hoyos, Energy Correspondent

Published: September 7 2004

BG, the UK’s largest independent energy group, has increased its stake in Egypt’s offshore natural gas operations.

The Reading-based company pre-empted the sale by Royal Dutch/Shell, the Anglo/Dutch energy group, of its interest on the Nile Delta’s Rosetta venture by paying $235m (£132m) to increase its stake from 40 per cent to 80 per cent.

The price was lower than some analysts had expected. But two close watchers of BG said this reflected the Egyptian government’s push for international companies to reduce the prices they charge for gas within the country. Rosetta supplies gas purely to the domestic market. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

AFX Europe (Focus): Malaysia’s Petronas-Shell jv makes new gas discovery

AFX Europe (Focus): Malaysia’s Petronas-Shell jv makes new gas discovery

Sep 07, 2004

KUALA LUMPUR (AFX) – CS Mutiara Petroleum, a Petronas-Shell joint venture, has discovered gas in Block PM301, off the coast of Peninsular Malaysia, according to a statement issued by the company.

The Bunga Zetung-1 well, initially drilled on July 9, reached a depth of 1,876 meters and encountered four gas zones, with estimated recoverable reserves of 0.2 trln standard cubic feet, it added. The gas discovery will be subject to further technical evaluation.

Bunga Zetung-1 is the second successive discovery in Block PM301, following the success of the Bunga Karnelia gas discovery in Nov 2003. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil majors put the future on hold

Financial Times: Oil majors put the future on hold

“Even Royal Dutch/ Shell, the Anglo/Dutch energy group struggling to build its oil and natural gas reserves base…”

By James Boxell and Carola Hoyos

Published: September 7 2004

The world has less spare oil capacity than it did on the eve of the 1973 oil shocks. Despite that, big international oil companies are ignoring the incentive of record-high oil prices and are not investing in finding and developing new fields.

The trend has become most apparent in the struggling oil services sector. Companies such as Halliburton of the US and Schlumberger, based in the US and France, are being squeezed by ever shrinking margins and have yet to benefit significantly from the usual increase in demand for their services that comes with high oil prices. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Guardian: BG snatches up Shell’s Nile delta cast-off

The Guardian: BG snatches up Shell’s Nile delta cast-off

“The reserves downgrade – which triggered the departure of its chairman of managing directors, Sir Philip Watts, and others – has turned the spotlight on Shell’s poor record for replacing reserves.”

Terry Macalister

Tuesday September 7, 2004

A massive asset sale by Shell that brought in $3.5bn (£1.9bn) in the first half of the year continued yesterday when the troubled oil group sold off some of its Egyptian interests for $235m.

The 40% holding in the Rosetta concession – which is already producing gas in the Nile delta region – was to have been bought by Kuwaiti interests. Britain’s BG stepped in, however, and exercised its pre-emption rights on the shares.

Shell said Rosetta had limited synergies with the rest of its business in Egypt and raising cash this way enabled it to “focus resources on higher-value opportunities”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Independent: Market Report: Cairn Energy

The Independent: Market Report

“Cairn bought control of an oilfield in Rajasthan, India, from Shell in 2002. The amazing success of this asset forms the basis of Cairn’s £2.4bn market capitalisation. The group paid Shell just £4m for control of the field.”

Michael Jivkov

07 September 2004

A half-hearted performance by Schroders yesterday means that shares in the fund management giant are likely to exit the FTSE 100 in tomorrow’s reshuffle of the blue chip index. Schroders managed a rise of just 7.5p to 648p, valuing the group at £1.8bn, and it is now virtually certain of being relegated in the latest quarterly review by FTSE of its indices.

In its place will come Cairn Energy, steady at 1,474p, as the oil explorer makes its debut in the top flight after a near-fourfold rise in the company’s stock this year. It will take its place alongside rival Shell, which it partly has to thank for the success. Cairn bought control of an oilfield in Rajasthan, India, from Shell in 2002. The amazing success of this asset forms the basis of Cairn’s £2.4bn market capitalisation. The group paid Shell just £4m for control of the field. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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