Drilling & production

The Economist Intelligence Unit has announced that it maintains its forecast that Brent will average US$40/bbl in 2016.

The Norwegian Petroleum Directorate has granted a drilling permit for well 30/4-3 S in production licence 040/043.

Ikon Science and Fugro have combined forces to tackle wellsite related geohazards and bring a new solution to market.

The global IT spending market in the oil and gas industry is expected to grow at a CAGR of around 1% during the period 2016 - 2020, according to Technavio.

Global energy-related carbon dioxide emissions are projected to increase by one third between 2012 and 2040, according to the EIA.

The alliance has been created specifically to address the increasingly complex needs of the Oil and Gas Industry in the KSA, Kuwait and Qatar region.

Latest figures show that production was slightly affected during April due to maintenance work on the Saiwan East.

The contract will see the company support a project for the offshore relocation and expansion of the Kipevu Oil Terminal.

Trelleborg has signed a 6 yr framework agreement with Statoil for the supply of Elastopipe.

Petrobras has reported that its Board of Directors have approved the sale of its entire 67.19% stake in Petrobras Argentina (PESA).

The company has now completed the second static profile referred to in its March 2016 announcement.

Statoil has announced it has entered a binding letter agreement into two exploration licenses in the Thrace region in the European north-western part of Turkey.

The AAL-4X appraisal well is targeting the G Sand reservoir which is estimated to contain 289 million bbls.

BP's acquisition of interests from JX Nippon increases BP's interest in the development to 32% .

Deep Down, Inc has reported financial results for the quarter ended March 31, 2016.