Medical and Hospital News  
OIL AND GAS
China wades into oil basins off the West African coast
by Daniel J. Graeber
Washington (AFP) March 31, 2017


Prospects for expanding the footprint in emerging oil basins off the Senegalese and Gambian coasts has increased through a Chinese partnership, FAR Ltd. said.

FAR Ltd., an Australian company with a heavy focus on oil basins off the coast of Africa, said it entered into a partnership with the British subsidiary of China National Offshore Oil Corp. that defines areas of mutual interest off the coast of Gambia and Senegal.

The deal gives both companies the ability to partner up on evaluating, bidding, negotiating and managing any joint ventures or buy-in opportunities for oil and gas in the broader Mauritania-Senegal-Guinea-Bissau deepwater basin.

FAR Managing Director Cath Norman said in a statement that her company has the chance to dramatically expand its footprint in the region by teaming up with the Chinese partner.

"The complementary skills of both organizations strengthen our collective ability to build acreage positions offshore Senegal and Gambia," she said.

The announcement from FAR follows its agreement this week to buy additional acreage off the coast of Gambia from ERIN Energy Corp., which has headquarters in Houston. Two Gambian blocks combine for an estimated 1 billion barrels of unrisked oil and are in close proximity to FAR's SNE oil field offshore Senegal, which was considered the largest oil find ever made when announced in 2014.

The entire Mauritania-Senegal-Guinea-Bissau has listed eight oil discoveries so far.

In stating its broader plans for 2017, the Chinese company said it was targeting a net production in the range of 450 million to 460 million barrels of oil equivalent for the year, with as much as 165 million barrels of that coming from projects outside of China.

OIL AND GAS
PetroChina profit plunges 78% to record low
Shanghai (AFP) March 30, 2017
State-owned Chinese energy giant PetroChina on Thursday announced it slumped to a record-low profit for 2016 as global oil price weakness slashed earnings by 78 percent. Net profit fell to 7.86 billion yuan ($1.1 billion), the Beijing-based company said in a statement to the Hong Kong stock exchange, where it lists shares. Bloomberg News reported that the profit figure was a record-low f ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Rising flood insurance costs growing will New York City

Bangladesh to join India's South Asia Satellite initiative

Extreme space weather: Protecting our critical infrastructure

SES is enabling disaster response and connecting affected communities

OIL AND GAS
Satnavs 'switch off' parts of the brain

Technology can reduce GPS outages from Northern Lights, researchers say

DevOps process reduces GPS OCX development time for Raytheon

Police in China's restive Xinjiang to track cars by GPS

OIL AND GAS
Scientists predict children's reading abilities using DNA variants

Bigger brains help primates cope with conflict

Human skull evolved along with two-legged walking, study confirms

Nose form was shaped by climate

OIL AND GAS
Hope for elephants as ivory prices fall: conservationists

Indonesian man found dead inside giant python

Study details risks faced by locally abundant but isolated endangered species

What triggers salmon migrations?

OIL AND GAS
Scientists image one of the largest viruses on the planet

Transgenic plants against malaria

Thousands of monkeys are dying from yellow fever in Brazil

UN body urges China to act as bird flu deaths spike

OIL AND GAS
Australia-based professor blocked from leaving China

China's favourite Lam wins Hong Kong leadership, vows to heal rifts

Beijing favourite Lam wins Hong Kong leadership

Hong Kong targets activists day after vote

OIL AND GAS
Philippines seeks US, China help to combat sea pirates

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.