Tunis. ADX reported at 0600 hrs Tunisian local time on August 26, semisub Atwood Southern Cross was drilling ahead at a measured depth of 2,511m. Since the last operations report earlier this week, the Abiod Formation limestones which are the primary target for the Lambouka well have been encountered. The Abiod intersection was associated with some losses of circulation fluids, an increase in background gas shows and an anomalously high resistivity on the Measurement While Drilling (MWD) electric logs.

London. BP PLC has delayed the launch of its deepwater exploration for oil off Libya for an unspecified period of time in an effort to ensure that its plans are in order.

Houston. Israel's government has approved Noble Energy's development of the Tamar gas discovery in the deepwater sector of the Levantine basin in the Mediterranean Sea. Until recently, Noble and its partners planned to develop the field using an option (Tamar North) that would flow gas to a new onshore receiving terminal in northern Israel. However, the selection and approval process for the site of the terminal has been delayed.

Argel, Algeria. Algeria, the second largest country in Africa, has invited Indian companies to participate in a $10-billion project to build an ambitious trans-Saharan gas pipeline originating from Nigeria via neigbouring Niger.