News / International
Libya’s National Oil Corporation Discovers New Oil Field
Libya's National Oil Corporation (NOC) has announced that the Arabian Gulf Oil Company (AGOCO), wholly owned by the NOC, has drilled the D1-NC8 new field wildcat well to a total depth of 7,020 feet. OPEC Draws Fine Line Between Oil Balance, Chaos
Members of the Organization of Petroleum Exporting Countries will hold their first meeting of the year next week and, following steep declines in oil prices and ahead of European Union sanctions on Iran, they should have plenty to talk about. CGGVeritas Announces R&D Collaboration with Saudi Aramco
CGGVeritas announced that it has signed a Memorandum of Understanding (MOU) with Saudi Aramco for collaborative research and development of geophysical acquisition, processing, analysis and interpretation technologies. Algeria to launch first offshore blocks
Algeria intends to launch a licensing round including offshore blocks for the first time within the next two years, according to Minister of Energy and Mining of Algeria, Youcef Yousfi. Tullow hits oil off West Africa
Tullow Oil has struck a sizeable column of "good quality light oil" at a deep-water exploration well off West Africa. Premier Oil Announces North Sea Discovery
Premier is pleased to announce that the Carnaby exploration well 28/09-5A (Premier equity 50 per cent) has reached a total depth of 4,695 feet and encountered oil. BP Lifts Force Majeure on Libyan Exploration
BP has lifted Force Majeure in respect of its Libyan Exploration and Production Sharing Agreement (EPSA) with the National Oil Corporation (NOC) effective 15th May 2012. Seadrill Gets $1.2B, Five-Year Contract for West Polaris
Offshore deepwater drilling specialist Seadrill announced that it is advanced discussions regarding a new five-year contract for the drillship West Polaris (UDW drillship). The potential revenue for this new contract is approximately $1.16 billion. 
