Weatherford International launched its Petroleum Consulting business unit which will offer clients integrated formation evaluation and well engineering support and consultancy.

PH Petro has completed the single-well test project for Omans Daleel Petroleum Company and has delivered an impressive 134 per cent incremental oil gain.

Iraq has approved the sale by Statoil of its minority stake in Iraq West Qurna phase-2 oil field to Russias 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.