Bidding for Four Natgas E&P Licenses Attracts 13

Thirteen companies have paid US$350,000 each for data on four offshore natural gas E&P license areas in Venezuela, state oil firm PDVSA said in a statement.

The data includes information on the chemical composition of the soil, as well as seismic, geodesic and geological data.

The process is part of a bidding process that the energy and oil ministry (MEP) launched August 8 for the four areas, in which PDVSA will hold a stake. The MEP invited 34 companies to participate.

The 13 firms that bought bidding rules are the following: Anglo-Dutch Shell (NYSE: RDS-B); Brazil's federal energy company Petrobras (NYSE: PBR); Japan's Teikoku and Mitsubishi; France's Total (NYSE: TOT); US major Chevron (NYSE: CVX); Russia's Lukoil; Anglo-French independent Hocol; Italy's ENI (NYSE: E); India's ONGC; Spain's Repsol RPF (NYSE: REP); Norway's Statoil; and Vinccler, the Venezuelan unit of Canada's PetroFalcon (TSX: PFC).

Of the four areas, the three near La Blanquilla island have the most seismic data available: 19,287km of 2D seismic and 1,800 sq km of 3D data. Punta Pescador has 2,251km of 2D and 620 sq km of 3D data. Eleven exploratory wells have been drilled in the four areas.

La Blanquilla, close to Margarita island, includes block A, B and C, and Punta Pescador is on the Orinoco river delta. The four areas combined hold an estimated 8.5 trillion cubic feet (Tf3) of gas, according to the ministry. By comparison, Venezuela's proven gas reserves total 150Tf3.

Interested companies have until October 25 to present bids and winners will be announced October 28.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

Related Companies
 Company: Lukoilmore info


 - Lukoil Finds Oil at Iraq Well (Feb 22)
 - Lukoil: CEO, VP Sell $34 Million Worth Of Shares (Dec 30)
 - Sources: Russia's Lukoil Appoints New VP For Sales And Supplies (Dec 27)
 Company: Petrobrasmore info


 - Petrobras Board Extends CEO Parente's Term Until March 2019 (Mar 27)
 - Petrobras Raises Asset Sale Goal To $21B For 2017-2018 Period (Mar 22)
 - Petrobras Resorts To Top Court To Free Divestment Plan (Mar 17)
 Company: Statoilmore info


 - Statoil Exec: Effective Leaders Should Empower People and Machines (Mar 24)
 - Statoil Makes North Sea Oil, Gas Discovery (Mar 24)
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 Company: Total S.A.more info
 - Total Starts Up Moho Nord Deep Offshore Project (Mar 15)
 - Chevron Commences Oil, Gas Production from Angola Project (Mar 9)
 - Oil Majors Still Years From Repairing Balance Sheets After Price War (Mar 8)
 Company: Chevron Corporationmore info
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 - Oil Giants Upending Shale Turf Where Wildcat Drillers Once Ruled (Mar 21)
 Company: ONGCmore info


 - ONGC Said to See Spending Plans Curtailed by Potential Merger (Mar 2)
 - India's Top Oil Explorer To Invest $1.1B To Boost Output (Feb 23)
 - India Top Oil Explorer Takes Profit Hit From Royalty Payments (Feb 21)
 Company: PDVSAmore info


 - Venezuela PDVSA Says In Grace Period For 2035 Bond (Nov 22)
 - Venezuela's PDVSA Reaches $1.45B In Finance Deals With Oil Firms (Nov 4)
 - US Said to Be Closing In on PDVSA-Linked Seizures, Charges (Oct 25)
 Company: ENImore info


 - Nigerian Court Overturns Seizure Of Oilfield From Shell And Eni (Mar 17)
 - Zohr to Start Gas Production This Year (Mar 15)
 - ExxonMobil Agrees to Buy 25% Stake in Mozambique's Area 4 Block (Mar 9)
 Company: Teikoku Oilmore info
 - Petrobras: $535 Million In Ecuador Investments On Hold (Apr 8)
 - Teikoku Acquires 35% Stake in Block 31 Offshore Suriname (Aug 29)
 - Venezuela to Resume Offshore E&P Gas Licensing (Jan 25)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Project Manager, USA
Expertise: Project Management
Location: United States
 
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
 
Regional Project Controls Supervisor Job
Expertise: Project Controls|Project Management
Location: Amarillo, TX
 
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours