Reliance Industries Limited (RIL) and its partners BP and NIKO today announced a significant gas and condensate discovery in the KG D6 block off the eastern coast of India. The KGD6-MJ1 well was drilled in a water depth of 1,024 metres – and to a total depth of 4,509 metres – to explore the prospectivity [...]

Malaysia’s UMW Oil & Gas has reported a drop in revenue and profit for the first quarter 2013. The company’s revenue of RM178.7 million was RM97.3 million or 35.3% lower than RM276.0 million recorded in the previous corresponding quarter. The profit declined by RM19.6 million or 45.5% from RM43.1 million to RM23.5 million. The lower revenue [...]

Press Release – Sevan Marine ASA has entered into an agreement to sell the semi-completed Sevan hulls number 4 and 5  on an “as-is, where-is” basis to Logitel Offshore. The total purchase price for the Hulls is USD 41 million, to be rendered as a seller’s credit. Sevan will grant an additional loan of USD [...]

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