Mozambique's state oil and gas company, Companhia Moçambicana de Hidrocarbonetos SA (CMH) posted a profit of US$37.8 million in 2013, a year-on-year increase of 29%, according to the company鈥檚 report and accounts for last year. According to a CMH report cited by the Mozambican press鈥
A new research study from Flow Research, Volume X: The World Market for Flowmeters, 5th Edition finds that the worldwide new-technology flowmeter market totaled US$4 billion in 2013 and is projected to grow substantially to exceed $5.7 billion by 2018鈥
Rosneft and PetroVietnam announced they will set up a joint venture to develop two oil field blocks in the Pechora Sea in Russia鈥檚 Arctic, Reuters reported on 5 September 2014. According to the report, Rosneft will hold 66.67% interest in the JV鈥
Rosneft began production from the northern tip of the Chayvo field, located off northern Sakhalin Island. Rosneft President Igor Sechin said that Chayvo will produce about 1.5 million tons of oil annually, with the northern tip of the鈥
Alexey Miller, chairman of the Gazprom Management Committee and Nguyen Xuan Son, chairman of the PetroVietnam National Oil and Gas Group Board of Director met at Gazprom headquarters 3 September to address the joint development of hydrocarbon resources in Vietnam and Russia鈥
Tullow Oil announced that its subsidiary Tullow Exploration & Production has agreed to sell its operated and non-operated L12/L15 block interests and non-operated Q4 and Q5 block interests to AU Energy, a subsidiary of Mercuria Energy Group鈥
Noble Energy has entered into a non-binding letter of intent (LOI) to supply Jordan鈥檚 National Electric Power Co. Ltd. (NEPCO) gas from the Leviathan field, located off Israel, the company announced on 3 September 2014. In the US$15 billion deal鈥
Inpex Corp. reached an agreement to transfer a 25% participating interest in the deepwater Block S offshore East Malaysia to Australia-based Santos. Block S is located in the Sabah basin and covers 574sq km with a water depth ranging from 200m to 1500m鈥
Honeywell Process Solutions announced the release of Digital Suites for oil and gas, an innovative set of software and comprehensive services that can help oil and gas producers boost production performance by 3 to 5% while improving operational safety鈥
Natural methane leakage from the seafloor is far more widespread on the US Atlantic margin than previously thought, according to a study by researchers from Mississippi State University, the US Geological Survey, and other institutions. Methane鈥
Australia's Sunbird Energy has the final scoping report under review for development of the Ibhubesi gas project off South Africa's Atlantic coast. South Africa granted final approvals in June for Sunbird Energy's acquisition of Block 2A from Denver-based Forest Oil Corp鈥
BG Group says the results of a second drill-stem test (DST) on the Mzia discovery in Block 1, offshore southern Tanzania, has provided further support for a hub development to supply an onshore LNG project. The DST in a side-track on the Mzia-3 appraisal well鈥
Shell made a gas discovery at the deepwater Majoram-1 well 180km off the Malaysia coast. The Marjoram-1 well is located in Block SK318, in 800m of water. Shell says the addition of new natural gas resources this year ensures the company is able to continue to provide cost-effective鈥
With demand for hydrocarbons increasing and costs rising, the exploration and production industry is also facing numerous technical challenges including the development of high-pressure 鈥 high-temperature (HPHT) reserves. HP / extreme-HP typically refers to borehole pressures between 10鈥
Three Japanese exploration companies, led by project operator Idemitsu Kosan Co., announced the discovery of natural gas and condensate at the fourth well in Blocks 05-1b and 05-1c offshore southern Vietnam. The discovery was in the Dai Nga structure in Blocks 05-1b and 05-1c鈥
