VAALCO Energy has secured government approval to advance exploration at its operated CI-705 block offshore Côte d'Ivoire, with plans to drill an exploration well by the end of 2028.The approval follows the completion of the block's First Exploration Phase, which included the evaluation and interpretation of existing seismic and well data.Under the Second Exploration Phase, the company is committed to carrying out further seismic reprocessing…
Energy technology company Baker Hughes has launched a global Mature Assets Solutions (MAS) hub network aimed at helping oil and gas operators increase production efficiency, improve recovery and extend the life of existing fields.The network…
Offshore drilling contractor Valaris has secured approximately $600 million in new contracts and extensions since its previous fleet status report in August 2026, increasing its total contracted backlog to around $4.8 billion.The latest awards cover drillships…
Offshore drilling contractor Seadrill has secured new drilling contracts and extensions covering four rigs offshore Indonesia, Malaysia, Angola and in the U.S. Gulf.In Indonesia, West Carina drillship has been awarded a contract with an undisclosed…
Murphy Oil Corporation has reported a successful appraisal well offshore Côte d'Ivoire and an oil discovery offshore Vietnam, alongside the start of production from two offshore developments in Vietnam and the Gulf of America.In Côte d'Ivoire…
Yinson Production has priced $1.458 billion of senior secured notes to refinance debt linked to its Agogo floating production, storage and offloading (FPSO) unit operating offshore Angola, in what the company said was the largest FPSO project bond to date…
Yinson Production has signed a contract amendment with Eni for a major gas capacity upgrade of the John Agyekum Kufuor floating production, storage and offloading (FPSO) unit offshore Ghana.Under the amendment, signed on October 2, Yinson will…
Azule Energy, jointly owned by Eni and BP, has started construction of the topside process modules for the Greater PAJ floating production, storage and offloading (FPSO) vessel, with the first steel cutting ceremony held at Haiyang CIMC Raffles' Haiyang yard in China…
Oil prices gained more than 3% on Wednesday after Iran and the U.S. military traded airstrikes and Washington reimposed crude sales sanctions on Tehran, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again…
Faced with declining production post-2030, across Sub-Saharan Africa (SSA), the Majors have started the process of reloading exploration hoppers. Targeting predominantly deep and ultra-deep waters, they have signed numerous agreements aimed…
Vulnerable countries that paid a high economic price during the Iran war are seeking to build domestic oil and gas storage buffers against future shocks, a drive that could bring roughly half a billion barrels of additional demand down the pike…
The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.The U.S. and Iran reached an agreement to end the three-month-old war…
TGS has secured a streamer acquisition contract in the Africa and Middle East region for a 3D seismic survey campaign.The energy data and intelligence company said a 3D Ramform vessel is scheduled to begin acquisition work in early September 2026…
Oil prices edged higher on Thursday, as investors monitored peace talks between the United States and Iran, while supply tightness and U.S. inventory drawdowns provided some support.Brent crude futures LCOc1 rose 40 cents, or 0.4%, to $105.42 a barrel by 0809 GMT…
Oil fell by nearly 2% on Tuesday after U.S. President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East.Trump posted on social media on Monday that he was holding off on a planned military attack on Iran scheduled for Tuesday…
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