Exploration Site News

Azerbaijan’s state energy company, SOCAR, said on Sunday its offshore gas platforms in the Caspian Sea were safe after media reports of a large fire in the area.Videos and photos published online showed smoke rising above the sea off the coast. Russia’s RIA news agency cited SOCAR as saying that an eruption of mud was the most likely reason for that, although it did not explain how it could cause a fire.“No incidents have happened at the offshore fields and industrial structures controlled by SOCAR…

The state-run China Daily says that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is "illegal and is an "unwise move" that may "sabotage" positive momentum in ties. "India's intention to once again explore for oil in the disputed waters of the South China Sea is an unwise move, as it will further complicate the maritime disputes and do a disservice to maintaining the positive momentum that has been achieved in China-India ties," the China Daily said in an editorial. Titled 'India should rethink its oil exploration plans', the editorial said according to reports India's Oil and Natural Gas Corporation plans to restart exploration activities in the waters off Vietnam's coastline which are "also claimed by China".

China National Offshore Oil Corp (CNOOC) has signed an LNG delivery agreement with Shell, Total and French energy company Suez. The company has signed the LNG spot delivery master agreement with the three companies. The agreement will lead these companies into China's LNG spot market, and make a reasonable profit for them. Santos Ltd said it has signed a production sharing contract with the Vietnam Oil and Gas Corp (Petrovietnam) for an exploration site in the Song Hong basin, offshore Vietnam. Santos, Australia's second largest oil and gas company, will conduct the exploration and hold a 55 pct interest while Singapore Petroleum Co Ltd will hold the remaining 45 pct share.