News / International
StatoilHydro has made two new discoveries on the Norwegian continental shelf (NCS)
The presence of a considerable oil column has been confirmed under the Dagny structure in the North Sea. Gas has been proven in the deep-water Snefrid South prospect near the Luva discovery in the Norwegian Sea. Dana Petroleum Enters Drilling Rig Contract for Work Onshore Morocco
A drilling rig contract for the drilling of an exploration well on the Bouanane license onshore Morocco has been entered into by the Operator, Dana Petroleum plc, on behalf of the partner group including Tethys Oil and Eastern Petroleum. OPEC Weekly Prices dive below USD $110
The weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) dropped to USD $109.73 per barrel last week, the Vienna-based cartel said. OPEC trims demand outlook
Opec cut its forecast for global oil demand growth in 2008 for a fifth month and said production is more than adequate, signalling a more comfortable supply and demand balance. Iraq Resumes Oil Exploration After 20-Year Break
Iraq said it was resuming exploration of its immense oil reserves after a break of nearly 20 years because of crippling UN sanctions. StatoilHydro announces new discovery in Algeria
StatoilHydro has, together with its partner Sonatrach, made a fifth discovery in the Hassi Mouina licence in the Sahara desert in Algeria. The existence of gas was confirmed in exploration well TNKW-1 in the southern part of the licence. Iran will face “further measures” says US
Iran faces "further measures" such as sanctions if it does not respond positively to an offer by major powers to suspend its nuclear programme for incentives, the US State Department said. Geotrace grabs significant 3D seismic project offshore Libya
Geotrace will be providing one of the world’s largest onboard seismic data processing projects to BP Exploration Libya Ltd as part of a seismic acquisition contract awarded to Wavefield Inseis by BP Exploration Libya Limited. Geotrace, through its long term agreement with Wavefield Inseis, will outfit the Geowave Endeavour with a large computer center for onboard processing. This will allow the seismic data to be managed quickly and cost effectively. 
