An alternative nuclear energy?

Tunisia's US$28.7 billion economy is powered totally by fossil-based power plants that produce electricity equivalent to 8.5 metric tons of oil. To gain energy security and reduce carbon emission, in 2005 the Ministry of Energy signed an agreement with France's Areva, to construct a 600 MW nuclear reactor and it will cost US$I .14 billion.

Via [All Africa]

The alternative nuclear energy was already discussed in the eighties, when the government was looking to provide extra energy to create a canal between Chott Ejjrid and gulf of Gabes that didn't to anything under an outside pressure, the project was left but its ashes seems to be revived within the new wonders of the extra growing expensive energy costs.

Mediterranean Oil says Teborsouk 1 well, Tunisia close to drilling

LONDON (Thomson Financial) - Mediterranean Oil & Gas PLC said the Teborsouk 1 exploration well in Tunisia is now close to starting the most exciting drilling phase as it approaches the first target depth.

The company also said its Ombrina Mare 2 appraisal/development well in Italy will spud immediately while the Monte Grosso exploration well preparation continues to advance.

Via [Hemscott]

Africa - Crude output down by 100kbv in January

In nearby Tunisia, the report says steady increases in rigs should add another 18 wells to the region's total. Recent and very promising oil discoveries in Uganda, Madagascar, Ghana and elsewhere suggest that Africa is vastly under-explored, and may hold significant untapped reserves.

Via [Yarnis and Fibers Exchange]

This the recent discovery of the oil in country have been really a giant show, the business got pumped every a couple of months.

Candax Energy ties in oil well off Tunisia; production still on hold

ORONTO - Candax Energy Inc. (TSX:CAX) has tied in the platform at the EBB-4 oil and gas well off Tunisia to the export pipeline, but production will not begin until a three-well program is completed and a gas recycling system is installed.

Candax shares were down 17 per cent Tuesday after the news from the El Bribane project.

The company disclosed that "a considerable volume of water was lost into the EBB-4 well during the drilling of the horizontal section, which will need to be removed from the near-wellbore area by gas-lifting with the recompressed gas."

It said continuing unfavourable weather in January caused new delays, but installation of the EBB-5 platform is progressing, while drilling is underway at EBB-3, the final well in the program.

The full field development now is expected to be completed in March.

Candax also disclosed it has drawn a further US$29 million on its credit facility with Bank of Scotland, following a US$20-million drawdown in December.

Candax stock was down 13 cents at 62 cents Cdn Tuesday afternoon on the TSX, with a 52-week range between $1.00 and 39 cents.

Via [By THE CANADIAN PRESS]

10th Session of Mediterranean Conference and Exhibition for Oil

2008-02-27 The 10th Session of Mediterranean Conference and Exhibition for Oil and Gas kicked off on Tuesday morning at Dat Al Emad Complex in Tripoli.


The conference is organized by the International Organization for Energy in collaboration with the Oil National Corporation, Libyan Oil Institute, Engineering College at Al-Fateh University, Environment General Board and the UN Development Program in Great Jamahiriya.

The opening of the conference was attended by the Secretary General of the International Organization for Energy, the Secretary of Administrative Committee of the Oil National Corporation, the Secretary of the People's Committee of Al-Fateh University, the Secretary of the People's Committee of Engineering College, the representative of the Oil Producing Arab Countries and the representative of the Libyan Oil Institute.

More than 500 professors and researchers from Britain, U.S., Russia, Canada, Ukraine, Italy, Hungary, Kuwait, Algeria, Egypt, Nigeria, India, Tunisia, Iraq and Malta in addition to Great Jamahiriya will take part in the three-day conference.

Numerous scientific symposiums and seminars will held on the margins of the conference on the swinging oil prices and its repercussions on economies of producing and consuming countries, and focusing on natural gas as an alternative source of energy.

And the international exhibition for modern equipment and technology to extract and produce oil and gas was held on the margins of the conference with the participation of 18 companies specialized in the area of oil exploration, excavation, refining, treatment and marketing.

Via [Libyan Jamahiriya Broadcasting Corporation]

Vietnam Engages in Oil Venture

Hanoi, Feb 22 (Prensa Latina) Vietnam will explore for oil in state-run facilities in Tunisia along with the Russian company Vietsovpetro, which will invest $13 billion to set the joint venture in motion.

Petrovietnam is heading an offensive to increase its 2007 income of $12 billion to $15.6 billion and contribute over $6 billion to the national budget.

To meet its goal, the Quang Nai Province shipping company Dung Quat began to build a 105,000 ton supertanker, first and largest of three tankers for Petrovietnam.

This week the local Petroleum Technical Services Company installed a 1,400-ton oil platform in Malaysia after winning an international bid as part of a $100 million contract that includes design, production, purchase, experiments and launching.

Via [plenglish]

OMV Reports Record 2007 Results

OMV Aktiengesellschaft, Central Europe’s leading oil and gas group, generated the best results the Group ever had in its history in the year 2007. Group sales increased by 6% to EUR 20.04 bn, EBIT (earnings before interest and taxes) amounted to EUR 2.18 bn and increased by 6% compared to the same period 2006. The EBIT contribution of Petrom was EUR 581 mn. Net income after minorities increased by 14% to EUR 1.58 bn. Cash flow of operations rose by 2% to EUR 2.07 bn. The gearing ratio is 23.7%.

Via [Oilvoice]

Hello World

Nowadays, the new discoveries in Tunisia are more than digging a hole into the land to get flooding oil, it's an a parted and complex industry, I wish that I'm helping myself to get in by showing you how that watch works.