Industry

Irans oil and gas reserves have risen by half a billion barrels and five trillion cubic feet respectively with the discovery of new onshore oil and gas fields in the south and west of the country, an Iranian daily quoted a senior oil official as saying.

Nine of the worlds leading oil and gas companies – BG Group, BP, Chevron, ConocoPhillips, ExxonMobil, Petrobras, Shell, Statoil and Total – announced the launch of the Subsea Well Response Project (SWRP), an initiative designed to enhance the industrys capability to respond to subsea well control incidents.

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