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Lukoil has begun wildcat drilling at an exploration well at the Shirotno-Rakushechnaya prospect structure, located north of the V.I. Grayfer field in the Caspian Sea.

The calls for change and transition in the industry are ubiquitous and emanating from within and outside of the industry.

Egypt has completed 12 petroleum agreements worth at least $1 billion in addition to a $19-million signature bonus for drilling 21 wells, said Tarek E-Molla, Egypt’s Minister of Petroleum and Mineral Resources.

Petrobras started production of oil and natural gas from the shared deposit of Atapu, through platform P-70, in the eastern portion of the Santos Basin pre-salt, near the Búzios field offshore Brazil.

CNOOC Ltd., a branch of the China National Offshore Oil Corp., said in late June it had made a discovery at Huizhou 26-6 in the eastern South China Sea.

Aker BP, Equinor, and LOTOS Exploration and Production Norge AS have reached agreement on commercial terms to jointly develop the Krafla and Fulla region and the north of Alvheim area

Italy’s Edison has cut $284 million from the sale of its E&P business to Energean after excluding Algerian and Norwegian assets from the deal.

Shell and Chevron lead the pack in a slew of Q2 losses with $18.1 billion and $8.3 billion, respectively. ExxonMobil, ConocoPhillips, Royal Dutch Shell, Petrobras, and Repsol also posted losses. The tally of these global majors’ losses in a single quarter tops $30 billion.

Providing a kick start for nascent companies developing clean energy technologies, Halliburton launched its innovation lab, Halliburton Labs. Its first participant is a nanomaterials company developing fireproofing and insulation technology.

For the seventh straight year, the regulatory body has found offshore operations continue to improve based on an efficiency model developed in partnership with the SPE.