Mexico’s initial production sharing contracts will contain extended exploration periods for 14 shallow-water projects, Reuters said. Companies can meet test well requirements, said the head of Mexico’s national hydrocarbons commission. 

Statoil’s Yeti well in the U.S. GoM’s Walker Ridge area delivered good drilling results, Bloomberg said. The company acquired 14 more leases adjacent to Yeti in the recent GoM sale. 

Power loss at an offshore facility last week forced production to shut down, Reuters said. The force majeure on exports of Saturno-grade crude oil is still in place.

Woodside now holds interests in six different permits covering a combined area of 46,000 sq km, and is now the largest acreage holder in the emerging Rakhine Basin.

Rutil, near the major Gullfaks oil and gas field, will be tied in. It is estimated to hold 11.1 Bcm of gas and 0.8 MMcm of condensate, Reuters said.

KrisEnergy Ltd. contracted Key Gibraltar for six months for its Thai drilling program, which includes the Rossukon-2 well and 15 development wells in the Wassana oil field.

Edvard Grieg will begin production offshore Norway in fourth-quarter 2015. Appraisal drilling will finish this summer, according to Lundin Petroleum's CEO, Reuters said.

The production of P-61 is transferred via flexible lines to FPSO P-63, which is capable of processing 140,000 bbl/d and 1 MMcm of gas, besides being able to inject 340,000 bbl of water, according to Petrobras.

The Point Thomson reservoir holds an estimated 8 Tcf of natural gas and condensate The gas represents 25% of the North Slope’s known gas resources.

In a series of letters sent to companies such as Shell, BP and Exxon Mobil since January, seen by Reuters, Iraq's oil ministry set out the need for change in response to “the rapid drastic decrease in crude oil prices.”

The company plans to produce in the area for six months to determine the field's long-term production capacity, and output will be limited to 15,000 bbl/d, Reuters said.

Norwegian energy firm Statoil has temporarily halted drilling on its Veslefrikk oil and gas field in the North Sea to interpret new seismic data, the company said March 12.

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