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Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for December 2009 was 1,024, down 1 from the 1,025 counted in November 2009, and down 54 from the 1,078 counted in December 2008. The international offshore rig count for December 2009 was 281, down 3 from the 284 counted in November 2009 and down 10 from the 291 counted in December 2008.

The US rig count f Read More »
Iraq has approved all pending deals with foreign energy firms over oil fields auctioned last year, paving the way for more than 100 billion dollars in investment, the oil ministry said on Wednesday.

The nine contracts, which will be officially signed soon, will dramatically ramp up Iraq's oil output in the coming seven years and could make it one of the world's biggest crude producers, provi Read More »
The Russian-British company TNK-BP is going to increase its oil production in the framework of the Uvat project in 2010 by 37%, compared to 2008, up to 4 mln tons, the press service of the company quoted the words of Andrei Rublev, General Director of TNK-Uvat. Mr. Rublev said that commercial development of two new fields of the Uvat group – the Urnenskoe and Ust-Tegusskoe fields was started in e Read More »
Petrofac, the international oil & gas facilities service provider, has been engaged by Turkmengas, the state-owned national gas company of Turkmenistan, to provide services in relation to the development of the South Yoloten gas field (the “Project”), situated approximately 400 km south east of the capital Ashgabat.

The first phase of the contract, which was signed with Petrofac International Read More »
An official ceremony took place on August 21 to mark the beginning of commercial production of crude oil at the Vankor field in Krasnoyarsk Territory. Field development is being carried out by the largest Russian oil company, Rosneft. Commercial production at the major new field began at a signal from the Russian Prime Minister, Vladimir Putin.

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BP and SOCAR (the State Oil Company of the Republic of Azerbaijan) announced today they have signed a memorandum of understanding (MOU) to jointly explore and develop the Shafag and Asiman structures in the Azerbaijan sector of the Caspian Sea.
As part of the government's plan to ensure that all of Azerbaijan's offshore waters are fully exploited this MOU gives BP the exclusive right to negot Read More »
BP and China National Petroleum Corp. have won a contract for the development of Iraq's Rumaila oil field, the first of eight giant Iraqi oil and gas development projects for which Iraq began receiving bids Tuesday, Iraqi officials said.

Selected foreign companies including international oil majors and Japanese companies are making bids.

Iraq is offering contracts to foreign companies fo Read More »
BG Group alliance with EXCO Resources, Inc. to develop US shale gas

BG Group today announced an alliance with EXCO Resources, Inc. (NYSE:XCO), a US oil and natural gas exploration and production company.
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