Shell signs new offshore upstream deals with CNOOC and CNPC; China and Gabon

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Shell has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa. In Gabon, CNOOC will acquire a 25% participating interest in offshore exploration blocks BC9 and BCD10.

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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A newly released GE study — Flare Gas Reduction: Recent Global Trends and Policy Considerations —estimates that 5% of the world’s natural gas production is wasted by burning or “flaring” unused gas each year, despite some progress on the flaring issue. Worldwide, billions of cubic meters (bcm) of natural gas are wasted annually, typically as a by-product of oil extraction. Gas-flaring countries and trends. Click to enlarge.

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Eni reports important new discovery offshore Congo

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During the production test in the oil interval, the well flowed more than 5,000 barrels of oil per day at 36° API gravity. Eni, which holds 65% of the Marine XII Block, quickly activated with the joint venture’s partners New Age (25%) and the national company SNPC (Société Nationale des Pétroles du Congo, 10%) the studies to ensure a rapid commercial development of these significant hydrocarbon reserves with the aim of launching a first oil production from 2016.

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Cobalt and Total announce significant North Platte deepwater Gulf of Mexico discovery

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an independent oil exploration and production company focusing on the deepwater US Gulf of Mexico and offshore Angola and Gabon, announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. The Group’s production in the US was at 56,000 barrels of oil equivalent per day in 2011. Cobalt International Energy, Inc.,

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Sasol embarking on feasibility study on a US gas-to-liquids facility in Louisiana

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The project is slated to be the first plant in the US to produce Fischer-Tropsch GTL transportation fuels and other products from natural gas, according to Sasol. Disadvantages in the fuel production stages of the technology are offset by the fact that GTL fuels offer slight advantages in the fuel use (combustion) stage, which contribute approximately 75% or more of the total calculated GHG impact of both options. High temperature iron, for Secunda fuels and chemicals production.