Exploration

All the licences are located in the southern Barents Sea with three of the licences being operated by Lundin Norway.

According to APPEA, there is an urgent need to address the decline in Queensland exploration experienced over recent years.

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.

CGG has been registered by Mexico’s National Hydrocarbons Commission as an independent third party qualified to audit and certify Mexico’s reserves.

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.