Shell Swaps Stake in Gulf of Mexico Field
THE HAGUE, Netherlands (AP) - Royal Dutch Shell PLC said Thursday it will swap its 17 percent stake in the Gulf of Mexico’s Tahiti field for Total SA’s interests in natural gas assets in South Texas.
The Tahiti field, nearly 190 miles southwest of New Orleans, is operated by Chevron Corp. Total said first production is planned for mid-2008 from a floating production facility with daily capacity of 125,000 barrels of oil and 70 million cubic feet of natural gas.
Source: news.moneycentral.msn.com
Shell, BP evacuate Gulf of Mexico workers due to Hurricane Katrina
Royal Dutch Shell PLC and BP PLC have evacuated workers from their platforms in the Gulf of Mexico as Hurricane Katrina heads towards the area.
Shell, in a statement, said it will evacuate around 120 non-essential staff from the eastern part of its Gulf operations as a 'precaution'.
A BP spokesman said it will also evacuate a still undetermined number of workers.
Both companies said the move will not affect their Gulf production.
Katrina came ashore in Florida on Thursday, killing at least three people and leaving about 1.5 mln
Shell Oil said it has begun producing crude oil and natural gas from its Cougar and Enchilada units in the Gulf of Mexico.
"Today we began producing from our Cougar and Enchilada assets in the Gulf of Mexico, and the Yellowhammer Gas Processing Plant, in Mobile Bay, Alabama, is now operating," the company said in a statement.
Shell did not elaborate on production levels.
The Enchilada unit, about 300 kilometres southwest of New Orleans, has a peak daily production from its two platforms of 32,800 barrels of crude and 52 million cubic metres of gas, according to the Shell website.
Shell's Cougar platform is
BP, Shell say Gulf of Mexico ops still suspended
BP PLC and the Royal Dutch Shell said their operations at the Gulf of Mexico remained suspended even as initial inspection showed the offshore facilities sustained little damage from Hurricane Rita.
'The (US Gulf) facilities as of Monday are still completely shut. The situation is still the same,' said a BP spokeswoman.
BP continues to check the facilities and will not allow operations to resume until it is completely certain that it is safe to do so.
'Initial assessment on Sunday via aerial overflights and small crews placed on several BP-operated deepwater
Chevron Invests in New Deepwater Gulf of Mexico Project
Chevron Corporation (NYSE: CVX) today announced that it is proceeding with the development of the
Blind Faith Field in the deepwater Gulf of Mexico. The field will be developed using a semisubmersible production facility, with first production expected during the first half of 2008. Chevron is the operator and holds a 62.5 percent working interest.
Blind Faith is located in approximately 7,000 feet of water, about 160 miles southeast of New Orleans, on Mississippi Canyon blocks 695 and 696. The discovery well was drilled in June 2001 and encountered more than 200 feet of
Several oil and gas facilities in the Gulf of Mexico have resumed operations following Hurricane Katrina. However, an industry analyst says the full extent of damage to generating facilities is still unknown.
Jim Flanagan of IHS Energy says the story of Hurricane Katrina is still unfolding. He says there's a lack of published reports by energy companies about damage done to their offshore facilities.
"I think it has a lot to do with, number one, some of the on-shore staging areas have been pretty much devastated," said Mr. Flanagan. "So, it's difficult to get transportation to and from some
Chevron Invests in New Deepwater Gulf of Mexico Project
Chevron Corporation announced that it is proceeding with the development of the Blind Faith Field in the deepwater Gulf of Mexico.
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Mexicos Alfa buys Bancomers Onexa stake for $51 mln
Mexican conglomerate Alfa SA (ALFA.MX) said Monday it bought the 49% of its telecommunications unit Onexa that was owned by financial group BBVA-Bancomer for $51 million.
Onexa is a joint-venture partner with AT&T Corp. (T) in telephone company Alestra. Onexa holds 51% of Alestra and AT&T owns 49%. BBVA-Bancomer is the Mexican unit of Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBV).
Alfa said that increasing its stake in Onexa to 100% will give the company more flexibility in taking strategic decisions with its telecommunications investment.
Alestra, with annual sales of $400
Vinci sells stake in Mexico's SETA airport operator for nearly 38 mln usd
Vinci said it has sold its holding in Mexican airport operator SETA to Mexico's ICA for just under 38 mln usd, completing the French company's withdrawal from the country's airport sector.
SETA operated 13 airports in North and central Mexico, including Monterrey airport.
In April 2004, Vinci sold the indirect holding it had in the airports of southern Mexico for around 30 mln usd.
Soure: forbes.com
N.Hydro drops oilfield in Gulf of Mexico-report
Norwegian energy and metals group Norsk Hydro (NHY.OL: Quote, Profile, Research) has dropped plans to develop the Telemark deep water oilfield in the Gulf of Mexico because of high costs, Oslo-based oil and gas weekly Upstream said on Friday.
Hydro officials were not immediately available for comment.
Upstream said that Hydro's board voted this week not to pursue the development of Telemark because of costs of building a tension-leg platform to recover what the company viewed as marginal reserves.
It said that oil reserve estimates for the field had varied from 40-70 million barrels but Hydro was
Isla Aguada
Eleven kilometres beyond Carmen is the Rancho EIFfriix, with an interesting iguana (lagarto) hatchery. Highway 180 runs northeast along the Isla del Carmen and crosses the bridge to Isia Aguada (C Hotel Tarpon Tropical. D Motel La Cabana and Trailer Park at former boat landing just after the toll bridge. Full hook-up, hot showers, laundry facilities, quiet, US$12 for vehicle and two people), actually a narrow peninsula with more deserted shell-littered beaches on the Gulf shore. The road then undulates its way northeast through tiny fishing villages towards Campeche; there are many offshore oil rigs to be seen. At
