Drilling & production - 30 October 2012

BP has seen its shares rise by 3.5% and profits have soared as the company continues its extensive divestment programme.

Somaliland’s mining and energy minister has claimed that the internationally unrecognised state could see companies drilling for oil within its borders by 2014.

In the wake of three major helicopter companies halting flights amid safety concerns, oil companies operating in the North Sea are having to rely on ships to bring workers to and from offshore platforms.

Tanzania and the semi-autonomous island of Zanzibar have reached a deal on the future sharing of hydrocarbon reserves after arguments resulted in exploration projects being delayed.

Russian giant, Gazprom has pledged to invest US$ 38 billion in the development of the eastern Chayanda gasfield and a pipeline to Vladivostok.