WorldOil Deep leach cutters give directional drillers the edge Directional drillers have a new edge for developing the deep, long bores associated with unconventional oil and gas wells. Atlas Copco Secoroc PDC bits feature deep leach cutters created with MegaDiamond’s proprietary, patented deep leaching technology. Canacol negotiates gas sales as it triples Colombia output Canacol Energy Ltd., a natural gas explorer in Colombia, is negotiating new supply deals as it steps up drilling and expects to more than triple gas production in the Andean country by year-end. Gazprom shifts goal for signing China gas contract Gazprom PJSC, the world’s biggest natural gas supplier, is shifting the goalpost for signing a firm contract with China to supply gas from Western Siberia under a deal that would make the Asian nation Russia’s biggest customer for the fuel. Russia’s NOVATEK sells 9.9% stake in Yamal LNG to Chinese investment fund OAO NOVATEK and China’s Silk Road Fund (SRF) have concluded a framework agreement on the acquisition by SRF—a $40-billion medium- to long-term investment fund—of a 9.9% equity stake in the Yamal LNG project. Iraqi oil output declining as of 2018 in Morgan Stanley’s view Iraq’s crude production will start to decline in 2018 because of a slowdown in investment due to lower oil prices and a costly war on Islamist militants, according to Morgan Stanley. Subsea specialist Tekmar defies downturn with continued growth Subsea cable protection specialist, Tekmar Energy, is bucking the market trend after experiencing steady growth in the oil and gas sector during what has been a challenging time for the industry. MEO Australia enters Cuba with Block 9 PSC MEO Australia has executed the Cuba Block 9 Production Sharing Contract (PSC) with the national oil company Cuba Petróleo Union (CUPET) in a ceremony in Havana, Cuba. Premier Oil comes up dry northeast of Valhall field Premier Oil Norge, operator of production license 539, is in the process of completing the drilling of wildcat well 3/7-10 S. INPEX revises development plan for Abadi LNG project offshore Indonesia INPEX Corp. has submitted a revised plan of development (POD) for Abadi gas field in the Masela Block, Arafura Sea, Indonesia, as a result of a greater volume of natural gas reserves being confirmed, among other factors. Otto Marine bags two charter contracts worth $25.2 million Otto Marine Ltd.'s subsidiary, Go Offshore Pty Ltd., has entered into two long-term charter contracts worth $25.2 million. Gas exports from Iran, Egypt seen threatening U.S. ambitions A potential boost in natural gas supply from Iran and Egypt may exacerbate a worldwide glut, reshape the global market and threaten U.S. export ambitions, according to Citigroup Inc.