The company said it planned to cut annual costs by 100 million pounds with a reduction in overhead expenses, Reuters reported.

The transactions are subject to Oil and Gas Authority approval.

Shell said it will sell 206,000 acres of developed and undeveloped lands, amounting to production of about 24,850 barrels of oil equivalent per day, to Calgary-based Tourmaline.

DualEx also said that Jason Schoenfeld was appointed as vice president of engineering, effective Oct. 20. Schoenfeld is a professional engineer with 20 years’ experience in the western Canadian oil and gas industry.

Rustem Khamitov, president of Russia's internal Republic of Bashkortostan, said on Oct. 21 it was unlikely that Russian oil major Rosneft will offer to buy its 25% stake in Bashneft, Reuters reported.

State-controlled Eni, which owns 50% of Area 4, had previously said it was ready to sell up to 25% as part of a disposal program to help fund growth, Reuters reported.

Woodside, Australia's biggest independent oil and gas producer, has announced two deals over the past four months together worth up to $830 million.

Dril Quip, TIW Corp, land ho, ashore, $143 million, deal, acquisition, liner hanger system, oilfield service, Halliburton, Baker Hughes, Weatherford, J David Anderson, analyst, Barclays Capital, merger, offshore, DRQ, revenue, debt, president, CEO, Blake

The company picks up TIW Corp., founded during the First World War, for its first acquisition since it was formed in 1981.

Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales program, the oil and gas company's head of upstream Andy Brown said on Oct. 19.

In 2015, the fields had a cumulative daily production of about 1,000 barrels of oil equivalent per day, representing less than 1% of OMV Petrom's daily production, Reuters reported.

OPEC’s third largest oil producer hopes to revive its energy sector following the lifting of the sanctions in January after years of under investment and to achieve production levels last seen in 2012.

Oceaneering International said Oct. 17 it acquired the assets of Blue Ocean Technologies, which is a privately held provider of riserless light well intervention.