Iraq has approved the sale by Statoil of its minority stake in Iraq West Qurna phase-2 oil field to Russia's Lukoil, according to press reports.

Digitalcore and Numerical Rocks, announced at Geo 2012 that they have signed an agreement to merge and form a new company that will see them combine forces to offer their joint services worldwide.

Repsol has announced a sharp fall in Q4 2011 profits as the Spanish oil company was hit by the suspension of oil production in Libya for large parts of 2011.

Emerson Process Management has opened the largest support facility in Basra, Iraq which will help support its customer base in the country with a team of Iraqi technical field service engineers.

Siemens Energy has appointed a new CEO of the Oil & Gas Division at the beginning of February the company announced.