India sets second small-field bid round

India’s Directorate General of Hydrocarbons has published documents for a second round of bidding for licenses containing discovered small fields (DSFs). It will launch DSF Bid Round II in June, offering 26 contract areas on which 60 small fields have been discovered.   Source: News


Rosneft advances development off Vietnam

Rosneft Vietnam BV is advancing development of natural gas and condensate reserves on Block 06.1 in the Nam Con Son basin offshore Vietnam. The Japan Drilling Co. Hakuryu-5 semisubmersible has spudded the LD-3P production well in 160 m of water in Lan Do (Red Orchid) field, which produces from two existing wells. Source: News


ADNOC, OCP consider fertilizer venture

Abu Dhabi National Oil Co. and OCP Group of Morocco have agreed to consider forming a global fertilizers joint venture exploiting ADNOC’s sulfur production and experience with ammonia and natural gas in combination with OCP’s large phosphate resources and fertilizer expertise. Source: News


MARKET WATCH: Oil prices climb awaiting US sanctions on Iran

Oil prices rose on the New York and London markets May 14, supported by signs that major oil producers remain committed to reducing world oil supply and awaiting clarification on how renewed US sanctions against Iran will affect world oil supply. Source: News