Exploration

This discovery marks the company’s 13th discovery in the country and the 9th discovery in the TAL block.

ITOCHU Corp. has announced the signing of a MoU with CITIC Resources Holdings Ltd, for collaboration in oil and gas exploration and production.

AccessESP has appointed Ed Sheridan as its Asia Pacific Region Manager.

Indian Oil Corp. Ltd, Oil India Ltd and Bharat PetroResources Ltd have signed the definitive agreement to acquire up to 23.9% shares from Rosneft.

Otto Energy has announced the successful farm out of a 25% participating interest in the upcoming Kito-1 Well in Kilosa-Kilombero Licence.

The processing of the logs while drilling and wire line logs at the first Tendrara well has now been completed.

The Makori-Deep-1 exploration well reached its target depth of 5067 m on April 17, 2016.

The agreement will see the companies collaborate to develop prospective resources in East and West Siberia.

“This is an impressive milestone in Indian Offshore operations,” commented Rodger Dickson, Group Marine Director, Aqualis Offshore.

Faroe Petroleum has reported an oil and gas discovery in the Faroe-operated Brasse exploration well in licence PL740 in the Norwegian North Sea.

The event will be held on 19-22 June at Calgary’s popular Stampede Park.

OPEC has published its monthly oil market report for June.

McKinsey Energy Insights' report states that 37% of deep water and 30% of shallow water green field projects will be delayed until 2025.

NYK has reached an agreement with Ezra Holdings Ltd and Chiyoda Corp. to acquire a 25% share of EMAS Chiyoda Subsea Ltd.

Ajith Muralidharan, Vaangden Pte Ltd, Singapore, discusses the opportunities present in the oil and gas buyers’ market.