1. Startup operations have begun at Gazprom’s Yuzhno-Russkoye oil and gas condensate field with 26 gas wells producing 529.73 MMcf/d. The field is located in the Krasnoselkupsky District of the Yamal-Nenets Autonomous Okrug. Proved reserves for the field are estimated at 28.4 Tcf of gas and 41.8 million bbl of oil.

2. Azerbaijan’s state-owned SOCAR and Timan Oil & Gas have completed preliminary negotiations for the provision of a jackup drilling rig and related services to proceed with exploration drilling on its Block No. 2, Izberbash license in the Caspian Sea offshore Russia.

3. Dragon Oil completed the Dzheitune (Lam) A/122 in the Caspian Sea offshore Turkmenistan. The well initially flowed 3,562 b/d of oil. Testing of the individual short and long strings showed production rates of 2,513 b/d on a 20/64-inch choke and 1,410 b/d on a 22/64-inch choke respectively.

4. India’s state-owned ONGC is inviting bids for the Mumbai High South field re-development project off the west coast of India. The company’s board of directors approved a US $1.4 billion budget for the project, which calls for the drilling of 86 infill wells, the deployment of five new wellhead platforms and six clamp-on structures, and a new process platform bridge to connect to the existing process complex ICP in Mumbai High South.

5. Another discovery was made in the western Xinjiang region by PetroChina. The Dabei-3 gas field contains an estimated 4.59 Tcf according to a company executive speaking to the China Daily. The current discovery could be the third largest gas field in Xinjiang, after the Kela-2 and Dina-2 fields. The company plans to invest US $27 million drilling appraisal wells to firm up its reserves. The company also completed a Jurassic discovery in the western portion of the Tuha basin. The company’s Quan 4 was drilled to a total depth of 616 ft (2,020 m) and tested flowing 1,370 b/d through an 8 mm choke.

6. Assets were acquired by Santos in Bangladesh from Cairn Energy plc. This included a 37.5% interest in the Sangu gas field and additional exploration acreage. Sangu field’s net average gas production was 34 MMcf/d to September 2007 with a net probable reserve of 34 Bcf. The acquisition also provides a 37.5% interest in the Magnama gas exploration well in offshore Block 16.

7. Sichuan field in southwest China will be sold by US operator ConocoPhillips, which holds a 100% stake in the Chuanzhong Block containing the Bajiaochang gas field. Output of the block averaged 10.3 MMcf/d in 2006.

8. SPC Cambodia Ltd., a wholly owned subsidiary of Singapore Petroleum Co., and its partners have acquired an additional 10% interest in Block B offshore Cambodia, which is located 155 miles (250 km) off the east coast of Cambodia to the east of the Thai-Cambodian Overlapping Claims Area in the Gulf of Thailand. Gas discoveries have been made in the Khmer basin just northwest of the block.