Drilling & production - 24 April 2012

Production at Nexen’s Buzzard field is to remain halted until at least Wednesday as an investigation continues at the North Sea platform.

Sources have revealed that Iran has had to deploy more than half of its tanker fleet to store surplus oil supplies offshore.

Various reports have revealed that a well based in the Russian Arctic suffered a major leak for 37 hours before being plugged.

Shell has announced that it has agreed to buy Cove Energy for US$ 1.8 billion in order to access a portion of Eastern Africa’s vast gas reserves. Despite the bid, hopes of a bidding war remain.