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Exploration & Production

Petrofac wins US$329.7mn Iraqi oil field contract

Petrofac_Iraq Iraq and an international consortium led by Russia's Gazprom Neft have awarded Petrofac a US$329.7mn deal to develop the untapped Badra oil field, the government spokesman Ali Al Dabbagh, said.

PDO production levels soared in 2011

PDO_production PDO's production last year touched the second highest combined levels in its history with production levels hitting 1,206,000 barrels oil equivalent per day (boe/d).

Eni’s production in Libya recovers

Libya_oil Italy's Eni reported its 2011 net profit rose 9.1 per cent to US$9 billion thanks to higher oil prices and faster recovery of its Libyan output.

Total looking to accelerate production

Total_production Total posted a 7 per cent increase in profit on higher crude prices and announced that its net income for 2011 was US$15.9 billion, a 17 per cent increase over 2010.