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TEHRAN, May 02 (Shana) — The National Iranian Drilling Company (NIDC) drilled, or repaired 11 offshore wells in the Persian Gulf during the course of the previous Iranian calendar year (ended March 20), an official NIDC official said. Siamak Afshari, director of NIDC’s offshore drilling operations, said the wells required 6,240 meters of drilling of which 2,512 meters of development ...

PARIS — Total has started up production from the Badamyar project, located offshore 220 km south of Yangon in the Republic of the Union of Myanmar. The project will enable an extension of the Yadana gas field’s 8 billion cu m per year production plateau beyond 2020. “Completed on schedule and with costs 20% below budget, this second start-up by ...

HOUSTON — Linn Energy, Inc. announced today that it has signed a definitive agreement to sell its interest in properties located in western Wyoming to Jonah Energy LLC for a contract price of $581.5 million, subject to closing adjustments. Proceeds from the sale are expected to be used to reduce outstanding borrowings under the company’s revolving credit facility and term ...

HOUSTON — BP’s proprietary digital rocks technology program is getting a key upgrade from a new multi-year commercial agreement with Exa Corporation, which will enhance BP’s ability to predict the flow of oil and water in digital images of reservoir rock. This new capability, known as multiphase flow simulation technology, will help engineering teams to make more informed decisions on ...

HOUSTON — BP announced a major breakthrough in seismic imaging that has identified more than 200 MMbbl of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico. As a result of this early success, BP now is deploying this technique to fields elsewhere in the Gulf of Mexico as well as in Azerbaijan, Angola, and Trinidad and ...

HOUSTON — Schlumberger announced today that Petroleos Mexicanos (Pemex) has signed an agreement to license data from the WesternGeco Campeche wide-azimuth (WAZ) multiclient seismic survey in the Salina del Istmo province of the southern Gulf of Mexico. The agreement also includes collaboration with WesternGeco in the seismic processing phase of the project as well as for future technology collaborations. This ...

HOUSTON — Halliburton, Trendsetter Engineering and C-Innovations today announced the companies have formed a strategic alliance to provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore wellintervention packages. The alliance leverages the companies’ strengths to create subsea solutions for hydraulic interventions. The combined packages will improve operator efficiency while addressing in-field production and subsea challenges. “By working together, ...

LONDON (Bloomberg) — The boss of Saudi Arabia’s state oil company defended petroleum as the mainstay of the global economy, countering theories that demand will peak within years with his own forecast that consumption will keep growing for decades. “The global economy is forecast to double in size by 2050,” so overall demand for energy will be higher, Saudi Arabian ...

TEHRAN, Apr. 29 (Shana) — Hungary’s state-owned oil and gas group MOL has indicated preparedness to join oil projects in Iran by the adopting enhanced oil recovery (EOR) and improved oil recovery (IOR) techniques, a senior Iranian oil official said. Following a meeting with MOL deputy chief executive officer, Berislav Gaso, in his Tehran office on Wednesday, Deputy Petroleum Minister ...

MOSCOW — The first-ever, multi-hole “fishbone” well involving multiple horizontal branches has been drilled and commissioned at the Prirazlomnaya offshore rig — the only project on the Russian Arctic shelf at which commercial oil production is currently ongoing. The trajectory chosen for the wells allows significantly greater coverage of oil-bearing sections of the strata. The new well represents the fourth ...