Oil & Gas Journal - February 21, 2011


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Register Now SPE DIGITAL ENERGY CONFERENCE EXHIBITION AND 2011                19 –21 A PR I L 2 011 TH E WOO D L A N D S , TE X A S , U S A www.spe.org/events/dec                                            With the support of the SPE Gulf Coast Section Society of Petroleum Engineers International Petroleum News and Technology 5 NEWSLETTER 30 STATISTICS | www.ogj.com Feb. 21, 2011 12 LETTERS / CALENDAR 14 JOURNALLY SPEAKING 16 EDITORIAL 33 MARKETPLACE 34 EDITOR’S PERSPECTIVE / MARKET JOURNAL | Volume 109.8 28 EQUIPMENT 28 ADVERTISERS’ INDEX GENERAL INTEREST 18 Obama keeps pledge to end oil tax incentives in 2012 budget request Nick Snow The White House followed through on US President Barack Obama’s promise to eliminate oil and gas incentives and preferences with a fiscal 2012 federal budget request that would increase direct taxes on the industry by an estimate $3.472 billion next year and $43.612 billion over 10 years. 20 Discussion of draft GHG bill turns into CAA debate 24 WATCHING THE WORLD Shell’s scenarios to 2050 24 Chinese hackers accused of cyber attacks on IOCs Eric Watkins 25 Study evaluates deepwater Gulf of Mexico overpressure 26 CNRL targets oil sands upgrader restart 27 Intertanko: Shipping routes ‘under threat’ from piracy Eric Watkins Nick Snow Democrats and Republicans quickly established their differing views as a US House subcommittee debated legislation designed to draft legislation to halt the US Environmental Protection Agency’s efforts to limit greenhouse gas emissions under the Clean Air Act. 27 Al-Shahristani: Baghdad wants changes in oil deals Eric Watkins 21 WATCHING GOVERNMENT GHG uncertainties 22 Baker Institute: Drilling in Gulf of Mexico evolves after Macondo blowout, oil spill Paula Dittrick 23 Industry reports many safety changes in GOM deepwater drilling practices Paula Dittrick 23 IEA warns of rising oil burden Sakhalin-1 drills 7.67-mile extended-reach well Exxon Neftegas, operator of the Sakhalin-1 project, drilled the world’s longest extended-reach well at Odoptu field, off Far East Russia, ExxonMobil said. Photo from ExxonMobil. we are the people of Baker Hughes. and we’re known collaborators. George Vassilellis, Lead Reservoir Engineer The best ideas never happen in a vacuum. They’re the result of As part of our new Reservoir Development listening, understanding, and getting to the heart of your challenge. Services group, George works with From reservoir planning through every phase of recovery and customers like you in evaluating their processing, we’ve found that working with the people we’re working unconventional hydrocarbon assets to help for is essential to crafting a fit-for-purpose solution and delivering them improve efficiency and increase flawless performance. Because when we’re all on the same team, recovery. Learn about his model for shale we’re pretty hard to beat. resources at www.bakerhughes.com/george www.bakerhughes.com © 2011 Baker Hughes Incorporated. All Rights Reserved. 31651 ADVERTISING SALES Houston U.S. Sales Manager, Marlene Breedlove; Tel: (713) 9636293, E-mail: [email protected] Regional