Pride International, Inc. has announced that its deepwater semisubmersible rig, the Pride South Pacific,  has been awarded a two-well, estimated 90-day contract by an international oil and gas exploration and production company for drilling operations offshore Angola.The contract is expected to commence during early July 2009, following the completion of an existing contract commitment offshore Angola and mobilization to the new location...more...

Canoel International Energy Ltd. has entered into a farmout and participation agreement for the acquisition from Cygam Energy Inc., an arm's length party to the Corporation, of oil and gas interests in certain properties in the Bazma, Sud Tozeur and Jorf areas of Tunisia. Canoel is a capital pool company and intends for the Acquisition to constitute the Qualifying Transaction of the Corporation, as such term is defined in the policies of the TSX Venture Exchange. The Acquisition is Arm's Length and is not subject to shareholder approval. Upon completion of the Qualifying Transaction, Canoel will be an oil and gas company focussed on international oil and gas exploration opportunities...more...

OMV has signed agreements with Libya's National Oil Corporation (NOC) for blocks NC115 and NC186 in the Murzuq basin, onshore Libya, some 700 km south of Tripoli. Partners in NC115 are Repsol (40%) and Total (30%). In Block NC186 Repsol holds 32%, OMV and Total 24% each and StatoilHydro 20%.

The original EPSA contracts signed in 1994 and 1997 have been converted to the EPSA IV contractual frame-work, which is now a standard in Libya, reflecting the changes in the oil industry environment. As part of the review process the agreements have been extended for block NC115 by 15 years from 2017 and for NC186 by 10 years from 2023 until 2032, effective from January 2008. The international consortia will receive a primary split of 13% of gross field production in NC115 and 12% in NC186, both on an after tax basis. Furthermore an extensive exploration campaign has been agreed in NC115 and in NC186...more...

Africa Oil Corp. announced that seismic recording in the Dharoor Valley of Puntland, Somalia commenced on July 9, 2008. The Company plans to acquire approximately 2,600 kilometers of 2D vibroseis data on the Dharoor Block before drilling 2 wells in each of its two Puntland concessions. In the Nogal Basin, Africa Oil has acquired all of the more than 4,000 kilometers of good quality 2D data which was recorded in the late 1980s. The Company holds an 80% interest in the Nogal and Dharoor blocks. The concessions encompass two highly prospective hydrocarbon basins and cover an area of 81,000 square kilometers or more than 20 million acres...more...

Chief Executive Officer of Eni, Paolo Scaroni said today that his company will restore the lost crude production from Bayelsa state in Nigeria within days. Eni's pipeline was damaged by two explosions last week.

The pipeline was damaged in two points on July 16, Scaroni said speaking at a conference in Rome...more...