Drilling & production

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.

Global oil supplies rose 250 000 bpd in April from the preceding month to 96.2 million bpd, according to IEA data.

Most of this growth will come from countries that are not in the Organization for Economic Cooperation and Development (OECD).

Additive designed to enhance the removal of H2S, mercaptan and other impurities from hydrocarbon streams.

The acquisition is due to be completed by 2Q16.

The Annual General Meeting of Shareholders of Lundin Petroleum AB was held on Thursday 12 May 2016 in Stockholm.

The exchange has posted an 11% increase in trading volumes till date in 2016.

As of April 2016, over 50 000 cylinder drain oils samples have been analysed via Shell’s Rapid Lubricants Analysis (RLA) service.

BP confirmed production ramp up from the Nidoco North 1X exploration well and the Nidoco North West 4 development well in the Nooros field.

Following the successful results of the MD 250 well in Trinidad, the company has decided to drill a follow up development well from the same drilling pad.

Five new Business Partner agreements have been organized with Uni-One in Taiwan, ISL in China, Oceanpixel in the Philippines, PT Indonesia in Indonesia and DKHG in Vietnam.

Statoil annual general meeting approves dividend of US$0.2201 per share for 1Q2015 and two yr scrip programme.