Thailand to sign Myanmar natural gas purchase deal

July 29 (Reuters) – Thailand will sign on Friday an agreement to buy natural gas from the Zawtika field at the offshore Block M9 in the Gulf of Martaban in Myanmar from late 2013, Energy Minister Wannarat Charnnukul said.

State-controlled PTT PCL (PTT.BK), as a buyer, will sign the gas deal with sellers, which include state-owned Myanmar Oil and Gas Enterprise and PTTEP International, a unit of PTT Exploration and Production (PTTEP) (PTTE.BK), he told a news conference.

PTTEP’s subsidiary owns 100 percent of Block M9, located about 300 km (185 miles) south of Yangon.

PTTEP is expected to supply an initial 300 million cubic feet per day (mmcfd) from M9, of which 240 mmcfd would be delivered to Thailand and the rest to Myanmar. It is expected to have petroleum reserves of 1.4 trillion cubic feet per day.

Myanmar natural gas accounts for about 30 percent of Thailand’s consumption, mostly in power generation.

About 965 mmcfd of gas from the nearby Yetagun and Yadana fields is exported to Thailand.

The output from the Zawtika field will raise Thailand’s natural gas import from Myanmar to 1.2 billion cubic feet per day, sufficient to meet rising power demand in Thailand, Wannarat said. (Reporting by Khettiya Jittapong; Editing by Jason Szep)

UPDATE 1-Fenner sees Q3 sales, underlying profit up

July 19 (Reuters) – British industrial conveyor belt maker Fenner (FENR.L) said it expected third-quarter underlying operating profit and revenue to be well ahead of a year ago, helped by a recovery in U.S. industrial markets.

The company, whose belts are predominantly used in the mining industry, said while trading in its advanced engineered products exceeded its own view, its seals business benefitted from good levels of demand from the oil and gas sector.

“The conveyor belting division, which was largely unaffected by the economic downturn, has continued to perform well,” Fenner said in a statement.

The company, which generates 75 percent of its revenue from outside Europe, remained confident about its short- and longer-term outlook on encouraging order flows.

Fenner, which raised about 36.3 million pounds via a share placing in April, said it would continue looking for growth through acquisition for its service business.

Shares in the company were up 0.3 percent down at 216.5 pence at 0721 GMT on Monday on the London Stock Exchange. (Reporting by Aditi Samajpati in Bangalore; Editing by Unnikrishnan Nair)

UPDATE 1-SThree profit falls; makes strong start to H2

July 19 (Reuters) – British recruiter SThree Plc (STHR.L) posted a 35 percent drop in first-half adjusted pretax profit, due to a reduction in permanent placements, but said it made a strong start to the second half as some of its markets started improving.

The staffing company, which counts finance, oil and gas, and pharma recruitment among its niche areas, said although some markets staged a robust recovery, others were still subdued by normal standards.

“Having a strong sense of where the market is heading remains difficult, but on the basis of the currently available data we remain cautiously optimistic,” Chief Executive Russell Clements said in a statement.

For the six months ended May 30, the company said its pretax profit before exceptional items fell to 7.3 million pounds ($11.2 million) from 11.2 million pounds last year.

Revenue fell 21 percent to 221.7 million pounds, while permanent placements fell 14 percent to 2,842.

The company maintained its interim dividend at 4 pence.

SThree shares closed at 293 pence on Friday on the London Stock Exchange. ($1=.6541 POUND) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Unnikrishnan Nair)

TGS: TGS Announces Commencement of Multi-client 3D Survey in East Shetland Basin

ASKER, NORWAY (14 July 2010) – TGS has commenced a new multi-client 3D survey in
partnership with PGS.

This project, ESB10, covers an 1,100 km2 area in the East Shetland Basin area
immediately west of the United Kingdom/Norway border. Ramform Viking, operated by PGS,
is acquiring http://www.tgsnopec.com/geophysical/seismic-data-acquisition.aspx this
multi-client high density 3D survey, utilizing 16 streamers. The project allows TGS and
PGS to continue building a multi-client 3D grid south of the successful East Shetland
Basin multi-client 3D project acquired in 2009 (ESB09).

The ESB10 multi-client 3D survey is supported by industry funding and data
http://www.tgsnopec.com/europe-middleeast-africa.aspx from the survey will be
available for customers from Q2-2011.

Company summary

TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and
services to the oil and gas industry for the exploration and delineation of hydrocarbon
reserves. We design and acquire multi-client data projects worldwide that make up our
data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging
technology and regional interpretation expertise. Visit TGS online at www.tgsnopec.com
http://www.tgsnopec.com/ .

Forward-looking statements and contact information

All statements in this press release other than statements of historical fact are
forward-looking statements, which are subject to a number of risks, uncertainties and
assumptions that are difficult to predict, and are based upon assumptions as to future
events that may not prove accurate. These factors include TGS’ reliance on a cyclical
industry and principal customers, TGS’ ability to continue to expand markets for
licensing of data, and TGS’ ability to acquire and process data products at costs
commensurate with profitability. Actual results may differ materially from those
expected or projected in the forward-looking statements. TGS undertakes no
responsibility or obligation to update or alter forward-looking statements for any
reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

For additional information about this news release please contact:

Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell +1 713 806 2420
Email: karen.el-tawil@tgsnopec.com mailto:karen.el-tawil@tgsnopec.com

Kjell E. Trommestad
VP & General Director, Europe
Tel: +47 66 76 99 61
Email: kjell.trommestad@tgsnopec.no mailto:kjell.trommestad@tgsnopec.no

Kristian Johansen
Chief Financial Officer
Mobile: +47 47 60 33 34
Email: kristian.johansen@tgsnopec.com mailto:kristian.johansen@tgsnopec.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

HUG#1431192

RPT-NZ Oil and Gas says Kupe reserves increased

July 14 (Reuters) – Explorer New Zealand Oil and Gas said on Wednesday the estimated reserves of the Kupe oil and gas field, in which it has a 15 percent stake, have been increased.

The oil and gas explorer said its share of the additional reserves has a sales value of nearly NZ$100 million ($71 million).

The review showed gas reserves increased by 8 percent, LPG reserves were higher by 5 percent and light oil reserves were up by 27 percent.

Shares in New Zealand Oil and Gas (NZO.NZ) last traded up 1.6 percent at NZ$1.29, having fallen around 23.2 percent so far this year, compared with a 6.3 percent fall in the benchmark top 50 .NZ50 index.

The Kupe field is 50 percent owned by Origin (ORG.AX), with state-owned power company Genesis Energy holding 31 percent, NZ Oil and Gas 15 percent, and Mitsui E&P Ltd 4 percent. ($1=NZ$1.39)

NZ Oil and Gas says Kupe reserves increased

July 14 (Reuters) – Explorer New Zealand Oil and Gas said on Wednesday the estimated reserves of the Kupe oil and gas field, in which it has a 15 percent stake, have been increased.

The oil and gas explorer said its share of the additional reserves has a sales value of nearly NZ$100 million ($71 million).

The review showed gas reserves increased by 8 percent, LPG reserves were higher by 5 percent and light oil reserves were up by 27 percent.

Shares in New Zealand Oil and Gas (NZO.NZ) last traded up 1.6 percent at NZ$1.29, having fallen around 23.2 percent so far this year, compared with a 6.3 percent fall in the benchmark top 50 .NZ50 index.

The Kupe field is 50 percent owned by Origin (ORG.AX), with state-owned power company Genesis Energy holding 31 percent, NZ Oil and Gas 15 percent, and Mitsui E&P Ltd 4 percent. ($1=NZ$1.39)

UPDATE 1-Falkland Oil finds no oil at Toroa well

LONDON, July 12 (Reuters) – Falkland Oil and Gas Ltd (FOGL.L) said the Toroa F61/5-1 exploration well, offshore the disputed Falkland Islands, failed to find any hydrocarbons and has been plugged and abandoned.

“Whilst the results of the Toroa well are disappointing, it has to be remembered that this is the first well in a previously undrilled frontier basin,” said Chief Executive Tim Bushell.

“We believe that these results have helped to reduce some of the key risks of the plays in the deepwater areas of our licences,” he added.

Oil exploration in the islands has sparked protests from Argentina, which claims the British territory [ID:nN22219606].

In March, British oil explorer Desire Petroleum (DES.L) said it had found poor quality oil in the first well to be drilled in the Falkland Islands for a decade.

Falkland Oil has a 49 percent interest in the Toroa prospect.

(Reporting by Julie Crust; editing by Mark Potter)

TGS: Charters Additional Vessel Capacity for West Africa Opportunities

HOUSTON (12 July 2010) – TGS announces that it has chartered additional vessel capacity
to address its multi-client opportunities in West Africa. TGS has chartered Fugro’s
Geo-Caribbean for approximately seven (7) months to acquire
http://www.tgsnopec.com/geophysical/seismic-data-acquisition.aspx multi-client
programs in West Africa. The Geo-Caribbean is a modern vessel capable of towing twelve
(12) long offset streamers. It is anticipated that TGS will take delivery of the vessel
on or around 1 September 2010. It is anticipated that over 10,000 km2 of new 3D will be
acquired under this new vessel charter.

“Over the last three years TGS has increased its 3D investments significantly in West
Africa. In that period we have acquired over 21,000 km2 of 3D data
http://www.tgsnopec.com/europe-middleeast-africa.aspx in this promising region. We
continue to see opportunities along the Africa transform margin as well as in the salt
basins and see the charter of the Geo-Caribbean as an opportunity to gain access to a
world class 3D seismic vessel for utilization in a key exploration market,” said Robert
Hobbs, CEO of TGS. “TGS continues to be successful in diversifying its world-wide
multi-client data portfolio http://www.tgsnopec.com/data.aspx and the charter of this
impressive vessel will significantly further that effort,” continued Hobbs.

Data to be acquired with the Geo-Caribbean is supported by industry pre-funding.

Company summary

TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and
services to the oil and gas industry for the exploration and delineation of hydrocarbon
reserves. We design and acquire multi-client data projects worldwide that make up our
data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging
technology and regional interpretation expertise. Visit TGS online at www.tgsnopec.com
http://www.tgsnopec.com/ .

Forward-looking statements and contact information

All statements in this press release other than statements of historical fact are
forward-looking statements, which are subject to a number of risks, uncertainties and
assumptions that are difficult to predict, and are based upon assumptions as to future
events that may not prove accurate. These factors include TGS’ reliance on a cyclical
industry and principal customers, TGS’ ability to continue to expand markets for
licensing of data, and TGS’ ability to acquire and process data products at costs
commensurate with profitability. Actual results may differ materially from those
expected or projected in the forward-looking statements. TGS undertakes no
responsibility or obligation to update or alter forward-looking statements for any
reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

For additional information about this news release please contact:

Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Email: karen.el-tawil@tgsnopec.com mailto:karen.el-tawil@tgsnopec.com

Kristian Johansen
Chief Financial Officer
Cell: +47 47 60 33 34
Email: kristian.johansen@tgsnopec.com mailto:kristian.johansen@tgsnopec.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

KKR plans shale gas exploration – Bloomberg

(Reuters) – U.S. private equity firm Kohlberg Kravis Roberts & Co [KKR.UL] is planning to start up a natural gas exploration company focusing on shale and coal-bed gas, Bloomberg said, citing a person familiar briefed on the plan.

KKR will mostly use equity to fund the exploration business, which will focus on parts of Appalachia and Texas, it said.

“The promise of shale and what it means to domestic oil and gas production is significant, but the cost to get there is very significant too,” Marc Lipschultz, a partner who oversees energy and infrastructure investments, told the agency in an interview.

Shale gas accounts for between 15 percent and 20 percent of U.S. gas production but is expected to quadruple in coming years, touching off a scramble among producers large and small for access to resources. [ID:nN18229665]

KKR could not immediately be reached for comment by Reuters outside regular U.S. business hours. (Reporting by Sakthi Prasad in Bangalore; editing by Simon Jessop)

Statoil says production at Troll field normal

July 6 (Reuters) – Norwegian oil and gas group Statoil (STL.OL) said on Tuesday production at its Troll field in the North Sea was normal.

“There is nothing to report today. It’s normal,” a spokeswoman said.

Gas flows into Britain from Norway’s Langeled gas pipeline fell to 17 million cubic metres (mcm) a day at 0653 GMT on Tuesday, down from around 58 mcm/day overnight, according to National Grid data.

(Reporting by Oslo newsroom)

UPDATE 1-Falkland Oil and Gas says drill results delayed

LONDON, JULY 5 (Reuters) – British oil and gas explorer Falkland Oil and Gas (FOGL.L) (FOGL) said preliminary results for its Toroa well will be delayed by one week because of operational and weather problems.

“FOGL now expects to announce the preliminary results of the Toroa F61/5-1 well during the week commencing Monday 12 July 2010,” the company said in a statement on Monday.

FOGL is currently drilling in the Falklands alongside Rockhopper (RKH.L) and Desire Petroleum (DES.L) as part of a closely watched exploration programme that has sparked protests from Argentina, which claims sovereignty over the British-government islands [ID:nLDE6530AA].

FOGL has a 49 percent interest in the Toroa well. Shares in the company last traded 243.5 pence on Friday’s close, valuing the firm at around 350 million pounds. (Reporting by Golnar Motevalli; editing by Sarah Young)

UPDATE 1-Salamander Energy says TSL-1X well unsuccessful

LONDON, June 29 (Reuters) – Salamander Energy Plc (SMDR.L), an Asia focussed oil and gas company, said it plugged and abandoned the Tom Su Lua-1X exploration well offshore Vietnam after the well was found to be dry.

The well, in the Vinh Chau Graben system, is the first exploration well in the basin. It encountered high quality reservoir sandstones but no hydrocarbons.

“Although a dry hole, the TSL-1X well confirmed certain elements of the play system in the Vin Chau graben,” said Chief Executive James Menzies.

The firm said in May that it is aiming for average daily production of between 17,000 and 18,000 barrels of oil equivalent (boepd) in 2010 and is planning 11 further exploration and appraisal wells between now and the end of the year. [ID:nLDE6491WM]

“Although disappointing, it should be re-iterated that this is only the first well in a new basin whilst Salamander have several further wells planned in this year’s campaign elsewhere including the high-impact Angklung prospect in Indonesia,” said Oriel Securites analyst Richard Rose on Tuesday.

(Reporting by Julie Crust; editing by Matt Scuffham)

India’s ONGC plans to buy rigs for $986 mln-report

June 29 (Reuters) – State-run Oil and Natural Gas Corp (ONGC.BO) is planning an investment of 45.80 billion rupees ($986 million) to buy 14 oil and gas rigs, the Mint newspaper reported on Tuesday, citing an unnamed company official.

Energy | Industrials

The company wants to acquire 10 onshore rigs for 9 billion rupees from state-owned Bharat Heavy Electricals Ltd (BHEL) and float tenders for four offshore rigs that may require an investment of 36.80 billion rupees, the report said.

“For onshore rigs we will go with BHEL. We have got quotations from them,” an ONGC official was quoted as saying. “For offshore jackup rigs, once we crystalize the design, we will go for tendering.” ($1=46.45 rupees) (Writing by Ruchira Singh; editing by Surojit Gupta)

UPDATE 1-Northern Petroleum to raise 10 mln via share placement

(Reuters) – Northern Petroleum (NOP.L) on Friday said it planned to raise 10 million pounds ($14.92 million) through a share placing, as the oil and gas explorer sought to raise additional funds to develop assets in Netherlands and Italy.

The European Union-focused explorer also plans to sell off its non-core UK assets and said it hired UK-based marketing company Envoi Ltd to handle the sale. Northern Petroleum said it planned to sell a total of 11.8 million shares at 85 pence apiece. The price represents a discount of 8.6 percent to Thursday’s mid-market closing price of 93 pence.

In the Netherlands, the company has proven and probable (2P) reserves of 42.7 million barrels of oil equivalent (boe), with four gas fields in production, and two gas fields and two oil fields in development.

In Italy, the company has 53.2 million boe of net probable oil reserves from 32 Italian licences, while in the UK it has 2P reserves worth 7.0 million boe.

At June 23, the company had about 13.4 million euros ($16.52 million) of net cash.

Shares of AIM-listed Northern Petroleum closed at 93 pence on Thursday on the London Stock Exchange. ($1=.8112 Euro) ($1=.6701 Pound) (Reporting by Anirban Sen in Bangalore)

BRIEF-Statoil to supply natural gas to Poweo plant

June 25 (Reuters) – Norwegian oil and gas group Statoil (STL.OL) said:

Energy

* Signed 20-year agreement for supply of natural gas to Poweo (ALPWO.PA) plant

* To deliver gas from Oct 2012 to projected 400 MW power plant in Toul, France

(Reporting by Oslo newsroom)

UPDATE 1-Petrofac sees order backlog higher by year-end

LONDON, June 24 (Reuters) – Oil and gas services company Petrofac (PFC.L) said it expected its backlog of contracts to be higher at the end of the year than it was at the start as its bidding pipeline strengthened.

Group backlog is estimated to be around $6.9 billion on June 30 the FTSE 100 company said on Thursday and by the end of 2010 it expects it to be above the $8.1 billion level it stood at on December 31 2009.

The company said it was making good progress on the South Yoloten project in Turkmenistan and expects to make a decision on whether to convert it to a much larger contract in the near future.

Petrofac said its engineering and construction division, its largest unit, continued to bid for contracts in its core markets of the Middle East, Africa and around the Caspian Sea and was establishing a presence in Iraq, a new market for the company, as it sees near-term opportunities arising.

The company said its smaller engineering, training services and production solutions division continued to see subdued activity but was on track to secure its first production enhancement contract.

Shares in Petrofac closed at 1,251 pence on Wednesday, valuing the company at 4.3 billion pounds ($6.4 billion).

(Reporting by Sarah Young; Editing by Matt Scuffham)

($1=.6677 Pound)

Kazmunaigas sees fy crude output 21.4 mln T

June 22 (Reuters) – Kazakh state oil and gas company Kazmunaigas [KMG.UL] expects 2010 crude output to reach 21.4 million tonnes compared to 18.7 million tonnes last year, chief executive Kairgeldy Kabyldin said on Tuesday.

In a presentation in Moscow, the executive also said annual output will reach 24 million tonnes by 2015 and 40 million tonnes by 2020.

Kabyldin also reiterated that his company plans to invest about $20 billion in its projects between 2010-2015.

(Reporting by Katya Golubkova, writing by Alfred Kueppers)

Prosafe Production Public Limited: PROD – Prosafe Production Public Limited to evaluate strategic alternatives

The board of directors (the “Board”) of Prosafe Production Public Limited
(the “Company”) has been notified that BW Offshore Limited intends to
put forward a voluntary offer for all outstanding shares of the Company.
In response to the intended offer, the Board has appointed Pareto
Securities AS (“Pareto”) and First Securities ASA (“First”) as its financial
advisors (the “Advisors”). With assistance from its Advisors, the Board
will evaluate the Company’s strategic and financial options in order to
maximize value for all shareholders of the Company.

Contacts:

Bjørn Henriksen, President and CEO

Phone: +31 6105 32543

E-mail: bjorn.henriksen@prosafeproduction.com

Sven Børre Larsen, Executive VP and CFO

Phone: +31 6515 65186

E-mail: sven.larsen@prosafeproduction.com

About Prosafe Production

Prosafe Production is a leading owner and operator of Floating Production,
Storage and Offloading vessels (FPSOs). Prosafe Production has 25 years
of operational experience from several of the world’s largest oil and gas
provinces. Prosafe Production operates globally and employs
approximately 1,000 employees from more than 40 countries.
Headquartered in Limassol, Cyprus, Prosafe Production is listed on the
Oslo Stock Exchange with ticker code PROD.

Limassol, 22 June 2010

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

Factbox: How a relief well works

Here is an explanation of how a relief well works, as explained by industry and academic experts as well as Kent Wells, BP’s senior vice president of exploration and production.

* A relief well provides access to a blown-out well far beneath the seabed, at or close to the bottom of the problem well.

* Typically, it is drilled parallel to the problem well through multiple layers of rock and sometimes salt. Then the drillbit curves to intersect with the problem well. This is how BP’s relief wells are being drilled.

* The first relief well began drilling on May 2, and the second began on May 16.

* As of June 18, the first well had been drilled to 10,677 feet, or 2 miles, beneath the seabed. The second well had reached 4,662 feet, or eight-tenths of a mile.

* The first well also was within 200 feet of the side of the blown-out well, but had to continue drilling down to find the right intersect point.

* The Macondo well was drilled to 13,000 feet, or 2.4 miles, beneath the seabed.

* The drilling process is lengthy because it must stop at points along the way. That allows drillers to insert piping, called casing, to hold the well open and prevent a cave-in.

* The diameter of the well shrinks as it drills deeper to maintain control and integrity of the wellbore. BP’s target will be about 8.5 inches across, or about the size of a large dinner plate.

* BP is slowing the pace of drilling for the first relief well so electromagnetic sensors can be used to detect the blown-out well and gradually move closer.

* BP has detailed information on the Macondo well that is helping it choose the right path for the relief wells.

* BP intends to first pierce the space between the wellbore and the casing in the blown-out well, and then pierce the casing. That will ensure the well connects with the flow path of gushing oil and gas.

* Once intersected, BP can pump heavy drilling fluid down the relief well into the blown-out well.

* The weight of the mud reduces high pressures in the reservoir that send crude billowing up to the leak.

* As pressure is reduced, the flow of oil slows.

* Once sufficiently slowed, BP can pump cement into the Macondo wellbore and plug the leak at or near the source.

* A relief well can still work if it doesn’t precisely intersect with a blown-out well.

* In that case, if a relief well gets close enough, holes can be punched through its casing to allow drilling mud to flow through fissures and fractures in the reservoir rock to reach the blown-out well.

* Once the leak is plugged, BP can possibly return to the Macondo well at some point to try to produce oil from it. BP Chief Executive Tony Hayward told Congress the company estimated the reservoir holds up to 50 million barrels of oil, and the well would have produced 15,000 to 25,000 barrels a day had it been completed.

* If the Macondo well is too damaged to revisit, it is possible the company could turn one of the relief wells into a producing well.

(Reporting by Kristen Hays; Editing by Xavier Briand)