Exploration

Despite a tax increases and a murky economic outlook, a report by Wood Mackenzie reveals that capital investment in the UK oil industry hit a record breaking £7.5 billion last year.

FMC Technologies has signed an agreement with Anadarko Petroleum Corporation to continue providing subsea systems support.

US Treasury Secretary Timothy Geithner has met leaders in Beijing to discuss the possibility of Chinese support for sanctions on Iranian oil.

Statoil ASA together with its partners Eni Norge AS and Petoro AS have made a substantial oil discovery in the Havis prospect in the same licence as Skrugard (PL532) in the Barents Sea.

Total has signed two exploration licenses with the Mauritanian government that gives it, as operator, a 90% interest in Block C 9 in ultra deep offshore and Block Ta 29 onshore in the Taoudeni basin.

Petrofac and Schlumberger announced today that their Integrated Energy Services (IES) and Schlumberger Production Management (SPM) divisions respectively have signed a Co-operation Agreement under which these divisions will establish a working relationship.

The American Petroleum Institute is urging energy discussions in the US election campaigns.

Total has acquired a 25% share in Chesapeake’s and EnerVest’s liquids-rich area of the Utica shale play located across 10 counties on the eastern side of the state of Ohio, USA.

Leading well intervention and integrity specialist, Interwell has recorded significant growth since opening its UK facility in February 2011.

Average oil production in Brazil grew 3% in November compared to October, reaching 2,060,695 barrels of oil per day (bpd).

78% of Nevada voters are in favour of more oil and natural gas development in the US.

Expro has signed a frame agreement with Total E&P UK Ltd for the further advancement of its AX-S™ subsea well intervention technology.

The first CBM exploration core well in the Kutai West Coalbed Methane Production Sharing Contract (Kutai West CBM PSC) was spud on 12 December 2011. The well is the first step in delineating the CBM resource and commercial potential of the Kutai West CBM PSC. A neighbouring CBM PSC is already in commercial production.

Kosmos Energy announced today that it has executed two Production Sharing Contracts with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname, for Blocks 42 and 45 offshore Suriname.

According to company sources, TNK-BP will invest up to US$ 10 billion in Arctic oilfield development and construction of a pipeline to link the fields with an export pipeline.