ARA Conference - Global Energy Dialogue 14 - 2010 Asia Petroleum and Gas Marine Congress

| National oil company Petrobras today announced a 25 billion Brazilian real ($13.3 billion) funding agreement with the Brazilian Development Bank (BNDES) for its business plan through 2013. | A new Douglas-Westwood report commissioned by INTSOK reveals that overall expenditure levels of 19 target countries and 26 key onshore and offshore market sectors is expected to total $2 trillion over the 2009-2013 period. | The third appraisal well on the Liwan 3-1 field in block 29/26 in the South China Sea has tested natural gas at an equipment-restricted rate of 52 MMcf/d, according to Husky Energy. | Premier Oil plans to plug and abandon the Frida Marine-1 exploratory well in its Congo Marine IX permit. The well reached its target depth of 3,250 m (10,663 ft) without encountering hydrocarbons. | The partners in the phased South Akcakoca development in the Turkish Black Sea will drill the nearby West Ayazli prospect next month, using the jackup Saturn. According to Stratic Energy, the well - targeting a Cretaceous interval – is expected to encounter gas in the Kusuri formation. | Husky has completed maintenance work on the FPSO SeaRose. Operations on the White Rose field satellite development are proceeding on schedule, the company says. | StatoilHydro has awarded Sevan Marine a contract to study the potential application of a floating platform for an undisclosed field development. The study will be performed during the last half of the year and focus on demonstrating the feasibility of the Sevan cylindrical FPSO bridge-linked to a wellhead platform. | Aker Exploration and Det norske oljeselskap have agreed to merge, creating a new force in E&P in the Norwegian sector. Their combined interests in terms of licenses and operatorships will far outstrip those of other independent competitors on the Norwegian shelf, the two parties claim.