Chinook Energy Inc. announced today that the Sud Remada TT4 exploration well has been cased and suspended awaiting completion in March 2011. Chinook's indirect wholly-owned subsidiary Storm Tunisia, is the operator of the TT4 development well and Remada permit with an 86% interest. The well was drilled to the Cambrian at a total depth of 1,745 metres with the primary target being the Ordovician Jeffara and Bir Ben Tartar reservoirs that were originally encountered and proven productive in the TT2 discovery well 5.4 kilometres to the northwest. An extensive logging and wireline testing program undertaken over the Ordovician section confirmed that two zones interpreted as hydrocarbon bearing in the discovery well extend over a significant portion of the 60+ square kilometre structure. Completion operations are expected to commence in early March and involve multiple fracture stimulations of the Bir Ben Tartar, Jeffara and Tannezuft formations in the TT4, TT3 and TT2 wells. Although commercial production in excess of 100,000 barrels to date has been recovered from the TT2 discovery well, the majority of the net pay and oil in place is in rock with permeabilities below 1 millidarcy and will require a fracture stimulation to produce oil at commercial rates. Chinook submitted the Plan of Development to the Tunisian authorities for Bir Tartar (TT) on January 20, 2011 and has been actively engaged with Entreprise Tunisienne D'Activités Pétrolières (ETAP) as it progresses towards the granting of a concession by the Direction Générale de l'Energie (DGE), potentially as early as Q2 2011. Subject to receipt of notice of concession approval, Chinook will make preliminary plans to drill the TT5 development well in Q2 2011 and tentatively five additional development wells prior to year end 2011.
The TT4 operations commenced on January 21, shortly after civil disobedience of increasing intensity led to the resignation of the President of Tunisia in favour of an interim government that intends to lead the country until elections can be held later this year. Chinook was able to complete all operations associated with the drilling and evaluation of the TT4 exploration well during this period and Chinook's production operations have not been interrupted. Chinook has contracts and logistical plans in place for the multi well completion operations that incorporate the realities of the current security situation. These plans will remain subject to change as the security situation dictates. The security situation has improved to near normal with an end to the overnight curfew, schools and businesses being open, and no travel restrictions, however, there are periodic localized demonstrations that may cause short term disruptions. Chinook's Tunis office and Remada field operations are fully staffed for normal business with a full complement of Canadian and Tunisian personnel. The interim government of Tunisia has stated its intent to honour all lawful contracts in place prior to the change in government and has been largely successful, with the support of the major labour groups, in having people return to work to help restart the economy.
Indonesia's PT Berlian Laju Tanker Tbk , whose subsidiaries include Southport, Conn., headquartered Chembulk Tankers, says it has secured commitments from six leading commercial banks to provide $685 million in a new landmark term facility.
The Iranian regime’s biggest crude oil tanker operator NITC said on Friday its ship insurers had declined to renew policy cover for the coming year due to the impact of tightening sanctions in the European Union, Reuters reported on Friday.
Saudi Aramco has signed two engineering and project management services contracts as part of its General Engineering Services Plus (GES+) initiative.
Chevron Corporation today announced that its acquisition of Atlas Energy has been completed following approval by Atlas stockholders.
A judge in Ecuador ordered Chevron to pay more than $18 billion in damages on Monday, following an 18-year-old lawsuit that alleged Texaco dumped chemical-laden wastewater in the Amazon River Basin from 1964 to 1992. (Chevron acquired Texaco in 2001.) The question now is whether the award is enforceable. 
More protests could cripple Argentinean grains ports in the coming months as annual salary talks are scheduled for March.
INSURERS in the City of London are finalising plans to set up a private fleet of armed patrol boats in the Gulf of Aden, in a new drive to stamp out Somali piracy.
Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.
On February 15, Dutch yard Barkmeijer held the keel laying ceremony for the first in a series of three pilot boats for Nederlands Loodswezen, for delivery in August 2012.
Drillsearch Energy Ltd is pleased to announce the sale of its three Gippsland Basin Permits being VIC/P63, VIC/P64 and T/46P held by it's wholly owned subsidiary Great Artesian Oil and Gas Pty Limited to Larus Energy Pty Limited (Larus).
Abu Dhabi Ship Building (ADSB), the UAE's naval and commercial vessels supplier, launched its second naval ship Baynunah at Idex yesterday, the second of a series of six naval ships, in the presence of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
As many as 200 oil-stained birds have been found after an Icelandic cargo ship ran aground last week and began leaking fuel inside Norway's only marine natural reserve, authorities said Sunday.
RALion was recently awarded a contract to design an 89 meter, ice-strengthened research vessel for the Australian government.
Japanese export ship orders more than tripled in January, compared with a year ago. In the 14th consecutive month of year-over-year gains, orders soared 218.5 percent to 1.5 million gross tons, according to figures released by the Japan Ship Exporters' Association.
The twin vessels Rem Hrist and Rem Mist have kept together ever since their keel laying at 1 September 2009. Today, they were named in a joint ceremony. 
The global oil and gas industry has been responsible for several disasters over the past decade, but few have heard of them. When Deepwater Horizon exploded in the Gulf of Mexico, safety in this business became a worldwide issue.
China Knowledge reported that China National Offshore Oil Corp or CNOOC which is the largest offshore oil producer in China and the parent company of CNOOC Ltd will invest CNY 350 billion in oil and gas exploration in China over the next five years.
Norwegian Minister of Trade and Industry Trond Giske opened Odfjell Drilling’s new office in Rio de Janeiro today. “We see Brazil as a particularly important market and wish to become a player in the Brazilian deepwater market in the years ahead,” says Odfjell CEO Simen Lieungh.
Colombo Dockyard Plc (CDPLC) has developed Greatship Rohini, a Remote Operating Vehicle (ROV) support vessel, for Greatship Global Offshore Services of Singapore to perform complicated undersea tasks in the oil and gas segment.
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