Exploration & Production

APEX signs exploration deal in Oman


The Omani Ministry of Oil and Gas signed a six year exploration and production (E&P) agreement with Canada-based Allied Petroleum Exploration Inc (APEX). The development of Block 36, in the Dhofar region, is worth US$18mn.

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Baker Hughes wins LUKOIL drilling contract in Iraq


LUKOIL has awarded Baker Hughes a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq.

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Afren acquires two Kurdistan oil fields in Iraq


Afren, a British oil company, announced that it is making a strategic entry into the Kurdistan region of Iraq with acquisitions in two oil fields in Kurdistan worth US$588mn.

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Total Q2 earnings hit by lower production in Libya


Total posted a fall in second quarter profits by six per cent to US$4 billion compared to the pervious year, as the company was hampered by lower overall output and weaker refining margins.

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Venezuela overtakes Saudi's crude oil reserves – OPEC


OPEC last week said Venezuela surpassed Saudi Arabia as the Group's largest holder of crude oil reserves in 2010.

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