Exploration & Production

Iraq boosts oil exports

Iraq_exportsIraq's oil exports rose by 10,000 bpd in December 2011 to 2.145mn bpd, up from 2.135mn bpd in November, according to new data from the State Oil Marketing Organization (SOMO).

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Saudi Aramco to boost oil drilling rig count to 130

Aramco_rig_countSaudi Aramco intends to increase the number of drilling rigs it operates to 130 by Q2 of 2012, according to industry sources.

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Honghua wins US$300mn drilling rig contract from NDC

Honghua_NDCHonghua Group was awarded a contract worth more than US$300mn by National Drilling Company (NDC) to provide drilling rigs suitable for working on islands.

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Tatneft to develop Iran's oilfield in a US$700mn deal

Tatneft_IranNational Iranian Oil Company (NIOC) and Russia's Tatneft agreed a deal worth around US$700mn to develop the Zagheh heavy crude oilfield based in southwest Iran.

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OPEC decides on new crude production level of 30mn bpd

OPEC_crudeOPEC ministers agreed to a new crude production ceiling of 30mn bpd that covers all 12 members, including Libya and Iraq.

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