Gulf Oil and Gas accountACCOUNT

Groundstar Exploration Blocks Returned to Ministry

Source: www.gulfoilandgas.com 9/10/2009, Location: Middle East

Share |
Groundstar Resources Limited has received a request from the Ministry of Petroleum and Mineral Resources of the Syrian Arab Republic that Blocks XIV and XVI awarded to the Company on April 2008 be returned to the Ministry. Groundstar has agreed to the request. The two exploration blocks were selected by Groundstar from seven blocks offered in the Third Bid Round.

After the block awards, Groundstar collected and interpreted 4,600 kilometers of legacy 2D seismic data and related well information on and adjacent to the blocks. Several leads were identified on each block. These results were presented to a number of companies in order to secure a farm-in partner. Due to the large work program commitments required in a tight credit market and the underlying uncertainty in the global financial system, a farm-in partner could not be found.

All the exploration blocks awarded in the April 2008 Bid Round are expected to be re-tendered in the near future. Groundstar remains in good standing with the Ministry and will participate in upcoming bid rounds for exploration blocks and EOR projects.

Groundstar remains an active consortium member in the exploration, development and production of petroleum resources in the Qara Dagh Block in Federal Region of Kurdistan - Iraq, is participating in the drilling of a third well on its WEEM Block in Egypt, and has a carried interest for the drilling of the first two wells in the Takutu Basin of Guyana.

Oil & Gas Companies News in Syria >>

Saudi Arabia >>  8/15/2018 - Jacobs Engineering Group Inc. has received a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company (SATORP) for its sub...
Iraq >>  8/13/2018 - Petrofac has been awarded a contract worth around US$370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), lo...

United Arab Emirates >>  8/7/2018 - A group of Emirati employees, from the Abu Dhabi National Oil Company (ADNOC), has become the first group of trainees to start a two year professional...
Iraq >>  8/5/2018 - Baker Hughes, a GE company has been awarded a contract by the South Gas Company of Iraq (SGC) for fast-track solutions to help the recovery of flare g...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Syria Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in Syria >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.