WorldOil China's CNPC buys stake in $22-billion Abu Dhabi oil venture China National Petroleum Corp. bought a stake in Abu Dhabi’s largest oil concession as the Middle Eastern emirate with 6% of global crude reserves looks increasingly to Asia, its biggest market, for investment to raise output capacity. Halliburton's GRIP delivers rapid response to offshore source-control incidents The Global Rapid Intervention Package (GRIP) not only includes the compact and air-mobile designed Rapid Cap plus the air-mobile ‘Top Hat’, but also the necessary manifolds, a variety of debris removal and cutting tools, and wellhead dispersant connectors. Oil Search weighs plans for further LNG expansion via possible Exxon, Total deal On the jungle-covered hills of southern Papua New Guinea, 62-year-old geologist Peter Botten is seeking to engineer a $5-billion deal that would cement the country’s emerging status as one of the world’s most lucrative gas exporters. IPAA releases statement regarding Pruitt's confirmation as EPA administrator The Independent Petroleum Association of America (IPAA) congratulated Oklahoma Attorney General Scott Pruitt on his confirmation as administrator of the Environmental Protection Agency (EPA). Biggest U.S. drilling surge since 2012 has producers cashing in U.S. drillers pushed ahead on the biggest surge in oil drilling since 2012 as companies take advantage of oil prices that have held steady above $50 for almost three months. Model advances analysis of offshore BOP closure during extreme conditions A new modelling approach developed and validated by the Southwest Research Institute (SwRI) presents a major step forward in understanding how offshore blowout preventers (BOPs) are likely to function if employed during a blowout. ELA Containers develops new offshore container type ELA Container Offshore GmbH announced the development of a new offshore container type: a 10 m x 3 m wide, high-cube accommodation container with interior hallway and two cabins Kraken FPSO hooked up, on track for delivery of first oil EnQuest has announced that the Kraken Floating Production Storage and Offloading (FPSO) vessel arrived at the field on Monday, Feb. 13. Ithaca Energy reports production start-up at Stella field, North Sea Ithaca Energy Inc. has announced the successful start-up of production from the Stella field, in the Central Graben area of the Central North Sea. Saipem awarded onshore drilling contracts worth $240 million Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million. SOCO reports approval of Te Giac Trang field development plan in Vietnam SOCO, an international oil and gas EandP company, announces that the Hoang Long Joint Operating Company has received from the Government of the Socialist Republic of Vietnam the formal approval of the updated Full Field Development Plan (FFDP) for the Te Giac Trang (TGT) field, offshore southern Vietnam.