WorldOil VAALCO Energy strikes out offshore Angola VAALCO Energy’s post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola, was drilled to a total vertical depth of approximately 1,829 m, the company confirmed Monday. The objective reservoir, the Mucanzo sand formation in the Pinda Group section, was found to be water-bearing and the well is in the process of being plugged and abandoned. Rosneft focuses on Russian gas as Latin American prospects appear limited, GlobalData says Despite the recent Memorandum of Understanding between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating LNG projects in Russia, according to GlobalData. BNSF slows oil trains up to 30% to boost safety after accidents BNSF Railway Co. is cutting the speed of oil-carrying trains in some urban areas to as slow as 35 miles per hour, a 30% reduction, to improve safety following crude-by-rail accidents this month. Eni signs PSC for the exploration of two blocks offshore Myanmar Eni, following its participation in the competitive International Bid Round launched by the Republic of the Union of Myanmar, has signed two Production Sharing Contracts (PSC) for offshore blocks MD-02 and MD-04. Maersk Oil starts production from new platform in Danish North Sea Maersk Oil has started production from the new unmanned platform Tyra Southeast-B, the company reported Tuesday. Wood Group wins major Total contract Wood Group has been awarded a five-year, multi-million dollar contract by Total, which includes the option for two, one-year extensions. McDermott wins subsea contract for Chevron's Jack and St. Malo expansion McDermott International has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron U.S.A. Inc. to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. BP cancels one rig contract, extends another, Seadrill Partners says Seadrill Partners has received a notice of termination from BP Exploration and Production for the contract for the West Sirius, which will be effective after the semisubmersible completes its current well and demobilizes, which Seadrill Partners estimates to be by early May 2015. EIG invests $1 billion in Breitburn for strategic acquisitions Breitburn Energy Partners and EIG Global Energy Partners have announced definitive agreements, whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior secured notes. The funds will be used for future growth and strategic acquisitions. Iran’s riches coveted by oil majors after decades of conflict LONDON (Bloomberg) -- Outside the boardroom of BP Plc’s headquarters on London’s swanky St. James’s Square, a display case houses the geological data from Masjid-i-Solaiman, Iran’s first oil well. Exxon Mobil starts production at Hadrian South in Gulf of Mexico IRVING, Texas --Exxon Mobil has begun production at Hadrian South in the deepwater Gulf of Mexico. Gross production, from two wells, is expected to reach approximately 300 MMcfgd and 3,000 bopd.