Exploration

Petrobras has reported that its Board of Directors have approved the sale of its entire 67.19% stake in Petrobras Argentina (PESA).

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.

KrisEnergy Ltd has announced that Mr Michael Chia Hock Chye has joined its Board of Directors as a Non-Executive Director, effective 13 May 2016.

Cunningham Energy LLC has executed a working agreement with a new international affiliated entity, Cunningham Energy S.A.

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

The centre will focus on multi-line 2D seismic projects as part of its Geoscience Services offering.

This second unit will be also chartered by DONG Energy for a period of 5 yrs firm.

EQT Corp. announced that its subsidiary EQT Production Co. has signed a definitive agreement to acquire 62 500 net acres.

The Energy Institute (EI) has released a new publication, A guide to energy management, as part of its Energy Essentials collection.

Kosmos Energy has announced that its Teranga-1 exploration well offshore Senegal has made a significant gas discovery.

Wood Group has secured two new, 3 yr contracts, together valued at over US$140 million.

The company has shut down its RMWB operations in a controlled manner and worked with government to enhance fire protection measures in the region.

According to the report, global exploration drilling is expected to be down 73% on 2014 with oil discoveries at decade low.

These projects combined are a substantial brownfield award for McDermott and have a total scope, which includes the EPCI for jackets and topsides, subsea pipelines and subsea cables.

Panoro Energy ASA has announced that the first oil production from the Aje field, offshore Lagos, commenced on 3 May 2016.