New Contracts, Divestiture Plans, Conclusion of Sales Agreement, Investment Decisions, and Gas Discovery - Research Report on ExxonMobil, Petrobras, BP, Total, and Statoil
NEW YORK, October 2, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Analysts Corner announced new research reports highlighting Exxon Mobil Corporation (NYSE: XOM), Petróleo Brasileiro S.A. (NYSE: PBR), BP plc (NYSE: BP), Total SA (NYSE: TOT), and Statoil ASA (NYSE: STO). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Exxon Mobil Corporation Research Report
On September 27, 2013, Exxon Mobil Corporation (ExxonMobil) and Rosneft announced the selection of CB&I UK and Foster Wheeler Energy as contractors for initial phase front end engineering and design (FEED) for a proposed Russian Far East liquefied natural gas project. According to ExxonMobil, the companies plan to finalize the project design, including front-end engineering and design documentation for the LNG plant, associated facilities and gas pipeline, as well as engineering studies and environmental impact assessment, by the end of 2014. ExxonMobil reported that CB&I UK and Foster Wheeler Energy will be awarded separate contracts for the initial phase front end engineering and design, and following of the submission of their respective concepts and design, the partners will evaluate the contractors based on their work product prior to awarding a contract for the second phase of FEED. The Full Research Report on Exxon Mobil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/36c4_XOM]
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Petróleo Brasileiro S.A. Research Report
On September 13, 2013, Petróleo Brasileiro S.A. (Petrobras) announced that its Board of Directors has approved the sale of 100% of shares issued by its subsidiary, Petrobras Colombia Limited (PEC) to Perenco for $380 million. Petrobras reported that the PEC's transactional assets include interests in 11 onshore exploration and production blocks with net average production of 6,530 boed (barrels of oil equivalent per day), in addition to the Colombia and Alto Magdalena oil pipelines, with a carry capacity of 14,950 bpd (barrels per day) and 9,180 bpd, respectively. The Company stated that this divestiture is a part of Petrobras' Divestment Program (Prodesin), which was outlined in the 2013-2017 Business and Management Plan. The Full Research Report on Petróleo Brasileiro S.A. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/7f5a_PBR]
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BP plc Research Report
On September 19, 2013, the Shah Deniz Consortium (SDC), a co-venture between BP plc (BP) and a few others, announced that it has concluded its 25-year sales agreements for a little over 10 billion cubic metres a year (BCMA) of gas to be produced from the Shah Deniz field in Azerbaijan as a result of the development of Stage 2 of the Shah Deniz project. According to the Consortium, nine companies will purchase this gas in Italy, Greece, and Bulgaria. SDC reported that the Shah Deniz Stage 2 project is set to bring gas directly from Azerbaijan to Europe for the first time, by opening up the Southern Gas Corridor. Gordon Birrell, Regional President for BP in Azerbaijan, Georgia, and Turkey, and President of the Operator of the Shah Deniz PSA, stated, "The deep cooperation that has led to the signing of these gas sales agreements sets the foundation for many years of partnership. The strong demand for Shah Deniz gas gives us confidence in the long-term development of Azerbaijan's gas resources. Today's signings represent another important milestone bringing us closer to a final investment decision on the Shah Deniz 2 project." BP holds a 25.5% interest in the consortium, and is the operator of the Shah Deniz project. The Full Research Report on BP plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/f948_BP]
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Total SA Research Report
On September 25, 2013, Total SA (Total) announced the final investment decision for a first development phase of the Incahuasi gas and condensate field in Bolivia, following the successful drilling results of the ICS-2 exploration well. Total reported that its developmental operations will involve 3 wells (one on the Aquio block and two on the Ipati block), a gas treatment plant with a capacity of 6.5 Mm3/d and associated export pipelines. Total expects production of first gas from the field in 2016, of which a large portion will be exported. Ladislas Paszkiewicz, Total E&P Senior Vice President for the Americas said, "The very positive results of the last well drilled on the Incahuasi field enabled us to launch a first development phase to help meet growing gas demand in the region." The Full Research Report on Total SA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/5801_TOT]
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Statoil ASA Research Report
On September 23, 2013, Statoil ASA (Statoil) announced that along with its partners, Eni Norge AS and Petoro AS, it has made a gas discovery in the Iskrystall prospect in PL608 in the Barents Sea. According to the Company, Well 7219/8-2 has proved an approximately 200 meter gas column, and estimates the volumes in Iskrystall to be approximately between 6 and 25 million barrels of oil equivalents. Gro G. Haatvedt, Statoil's Senior Vice President Exploration Norway, said, "Our main goal was to find oil in Iskrystall, but unfortunately it did not materialize. We still believe we can prove more oil resources in the Johan Castberg area and will continue our exploration effort with two more wells in the Skavl and Kramsnø prospects." The Full Research Report on Statoil ASA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/d198_STO]
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