Exploration

Petronas has awarded a Production Sharing Contract (PSC) to PTTEP HK Offshore Limited, KUFPEC Malaysia Limited (KUFPEC), and Petronas Carigali Sdn Bhd for the exploration Block SK410B.

CEO comments: “With the gradual recovery of the oil price from its lows in early Q1, we are starting to see early signs of a stabilissing market and improving sentiment.”

The numbers of women in STEM careers are significantly lower across the globe, and expanding the talent pool is critical to the energy sector.

Wärtsilä has announced that it has entered into a cooperation agreement with US based Greensmith Energy.

Devon Energy Corp. has brought online another successful spacing pilot and an oil well in the over-pressured oil window of the STACK play.

The 3D seismic programme will comprise two sub-areas proximate to the Wassana oilfield.

Pakistan Petroleum Ltd has announced a gas discovery at its exploration well Hadi X-1A located in District Sanghar, Sindh.

Strainstall, part of James Fisher and Sons plc, has received a major contract with the Japanese Penta Ocean-Toa joint venture.

The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA has been approved.

The NPD has carried out four successful ROV (dives and has acquired depth data (bathymetry) near the Vøring Spur in the western Norwegian Sea.

Fugro has been awarded a geotechnical site investigation contract by ONGC India for the KG-DWN-98/2 project on the East Coast of India.

According to Douglas-Westwood’s World Land Drilling Rig Market Forecast, a recovery in commodity prices and an increase in drilling activity will prompt market growth in 2017.

AFGlobal Corp. has agreed to acquire Managed Pressure Operations (MPO), a subsidiary of MHWirth.

Michael Höllermann and Johan P. Cnossen are to join the management board of the Industrial Solutions business area effective 1 August 2016.

According to API, proposals to ban geological or geophysical activities could cripple offshore oil and gas exploration.