• American International Petroleum Corp., New York, has plans to sell a working interest in its License 1551 in Kazakhstan to Itera International Energy LLC, Amsterdam. License 1551, the Shagyryl-Shomyshty Field, where AIPC owns a 100% interest, has technically proved reserves of 604 billion cu. ft. of gas and 963 billion cu. ft. of proved and probable gas reserves. • Texaco, White Plains, N.Y., and Tyumen Oil Co., Moscow, have agreed for Texaco to provide commodity risk management advice and related support to Tyumen, among the first Russian oil companies to systematically manage commodity risk. • Chevron has signed an agreement with the Republic of Kazakhstan to purchase an additional 5% stake in the Tengiz joint venture in western Kazakhstan. The acquisition will increase Chevron's share of Tengizchevroil, which operates Tengiz Field, from 45% to 50%. Tengiz Field production is about 215,000 bbl. per day. Stakeholders in Tengizchevroil are Chevron 50%, Kazakhoil, 20%, Exxon Mobil, 25%, and LukArco, 5%. • Indo Pacific Oil and Gas Inc., a subsidiary of Fortune Oil & Gas Inc., Vancouver, is acquiring GFB Resources Ltd. from Carmanah Resources Ltd., Calgary. GFB Resources owns 100% of the Bawean production-sharing contract in the Java Sea approximately 430 miles east of Jakarta, Indonesia. Prior to shut-in in March 1999, the Camar Field was producing approximately 2,500 bbl. of oil per day. • Talisman Energy Ltd., a subsidiary of Talisman Energy Inc., Calgary, is acquiring from Texaco 100% interest in the Tartan Field and related Highlander and Petronella subsea satellite fields as well as interests in adjacent exploration acreage for an undisclosed consideration. The blocks are between the Piper and Claymore fields where Talisman recently acquired major interests. Production from the three-field complex is expected to reach 11,000 bbl. per day by midyear. Proved reserves are estimated at 24 million bbl. with field abandonment expected in 2008. Talisman assumed operatorship on May 1.
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