PDO production levels soared in 2011
PDOs 2011 production reached the second highest level in its history with production levels hitting 1,206,000 barrels oil equivalent per day (boe/d).
E&P
Eni’s production in Libya recovers
Italys Eni reported its 2011 net profit rose 9.1 per cent to US$9 billion thanks to higher oil prices and faster recovery of its Libyan output.
Total looking to accelerate production
Total posted a 7 per cent increase in profit on higher crude prices and announced that its net income for 2011 was US$15.9 billion, a 17 per cent increase over 2010.
Kuwait Energy makes another discovery in Egypt
Kuwait Energy has made an oil well discovery in the Western Desert in Egypt. Iran starts production on shared oilfields
Iran started preliminary production in the Yadavaran oilfield in the southwest that is shared with Iraq, with the opening of a first well.
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