Drilling & production

A planning application has been submitted to conduct further significant appraisal testing and drilling at the Horse Hill-1 (HH-1) oil discovery.

Douglas Westwood has reported that Brazil’s Congress has approved legislation that will remove state-controlled Petrobras’ obligation as sole operator on the country’s pre-salt developments.

The company believes that, the restructuring will provide the Group with a stable and sustainable capital structure, reduced cash debt service obligations and greater liquidity.

Company aims to expand beyond upstream oil and gas market.

The new plant will support Tenaris’s long-term agreement with Karachaganak Petroleum Operating (KPO), plus key operator Tengizchevroil (TCO).

Kuwait Energy holds a 60% revenue interest and is the operator of the Block 9 concession.

Mermaid has announced that AOD has secured a short-term contract extension to 31 December 2016 for this jack-up rig AOD III.

Deal provides technical expertise on pressure system, structures and subsea equipment.

Oil market highlights taken from OPEC's monthly market report for October

Natural gas fastest growing fossil fuel globally, with 50% increase in consumption by 2040: World Energy Outlook.

The number of oil wells drilled and completed in 3Q16 has remained unchanged from the previous quarter.

DNO ASA, the Norwegian oil and gas operator has reported the completion of three new production wells at the flagship Tawke field in the Kurdistan region of Iraq as part of a stepped up drilling programme kicked off in July 2016.

New programme offers hands-on experience with pressurised Christmas trees.

The transaction has been found to be fair and reasonable.

In addition to the merger, renowned Norwegian industrial investment company Holta Invest AS has announced that it will become a significant shareholder in Optime Subsea Services.