Italys ENI is speeding up work in Iraqs Zubair oilfield despite ageing facilities there and plans to drill about 68 new oil wells through next year to increase production, Iraqi officials said.

Vallourec agreed a deal to acquire Saudi Seamless Pipes Factory Company Limited (Zamil Pipes), the first processing company of seamless OCTG(1) in Saudi Arabia.

Tyco International Ltd agreed to acquire a 75 per cent equity stake in privately-held KEF Holdings Ltd. for approximately US$300mn in cash.

RAK Petroleum Public Company Limited, announced net operating profits of US$5.1mn for the quarter ended 31 March 2011 on turnover of US$17.1mn.

Lamprell announced that it will acquire Maritime Industrial Services (MIS) for US$336.1mn.