Exploration - 18 May 2016

WFS Technologies, Focus Subsea and Aquip Systems are to demonstrate the Seatooth wirelessly enabled products at iTech’s test tank facilities.

The Ministry of Petroleum and Energy has awarded five licences to Statoil in the 23rd licensing round, four as operator and one as partner.

Petronas has recorded a group pre-tax profit of RM6.8 billion for 1Q16, 60% lower than the RM17.0 billion posted in 1Q15.

The Norwegian Petroleum Directorate has granted Tullow Oil Norge AS a drilling permit for wellbore 16/5-6.

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

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