Drilling & production

Rockdale Resources Corp. has reported the signing of a Share Exchange Agreement with Askarii Resources, LLC, a Houston based Service Company.

The DURA-BASE DEFENDER system reduces the need for liners.

Philippe Baptiste has been appointed Senior Vice President, Scientific Development at Total, effective 1 February 2016.

Texas Alliance has responded to President Obama's proposed US$10 per bbl tax on the sale of crude oil.

Rosneft and Statoil have announced the commencement of testing of two production wells of highly viscous oil of the PK1 layer of the North-Komsomolskoye field.

The new oilfield services company, Ardyne, has been launched with £50 million backing from Lime Rock Partners and has made its first acquisition.

The Laggan and Tormore gas and condensate fields, located in the West of Shetland are expected to produce 90 000 boe/d.

SOCO has reported that the Baobab Marine-1 commitment well commenced drilling on 5 February 2016 in the Mer Profonde Sud Block, located in the Lower Congo Basin, offshore the Republic of Congo.

Sound Energy has stated that it has signed a binding agreement with OGIF whereby OGIF has granted Sound Energy an option to acquire a 55% interest in the Meridja permit, onshore Morocco.

Taq Taq field partners have now received payment from the Kurdistan regional Government for oil exports.

A critical turning point – when a produced barrel no longer finds spare capacity within existing onshore storage – is approaching.

Current market trends suggest that widespread filling of offshore storage is likely before significant erosion of supply takes place, according to Douglas-Westwood.

The data shows that rig counts are since 2015.

The awards seek to celebrate the achievements of companies and individuals in the £9 billion subsea industry across the country.

Almost 7000 visits were made to Europe’s largest subsea event, despite the industry facing its toughest year ever.