The economic risks of the world’s heavy dependence on oil and gas have been laid bare twice in four years - first with Russia’s invasion of Ukraine and now with the U.S.-Israeli war on Iran - undermining U.S. President Donald Trump’s flagship push to double down on fossil fuels…
Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company…
Offshore seismic services firm Shearwater Geoservices has secured a 3D seismic acquisition contract by Eni, covering the PSC TL SO 22-23 area in the Timor Sea.The project comprises approximately 1,500 square kilometers and is scheduled to commence late in the first quarter of 2026…
Australian Prime Minister Anthony Albanese and his East Timor counterpart, Xanana Gusmao, on Wednesday said the Greater Sunrise gas project should be developed 'as soon as possible', with Australia pledging a third of its state revenue to its small neighbor…
Offshore drilling contractor Seadrill has secured multiple contract awards for its West Capella, West Elara and West Carina drilling rigs across Malaysia, Norway and Brazil.In Malaysia, the ultra-deepwater drillship West Capella secured a well-based contract with an undisclosed operator…
Malaysia’s MISC Berhad has secured its first floating production unit (FPU) project in Brunei after receiving a letter of award from PETRONAS Carigali Brunei (PCBL) for the lease, operation and maintenance of the facility for a natural gas development project…
MODEC has outlined plans merge its wholly owned subsidiaries MODEC America and SOFEC from the start of 2026, bringing SOFEC fully into the group as a new Mooring Solutions Business Unit.SOFEC, known for its permanent mooring systems and fluid transfer technologies…
Eneos Holdings, Japan's top oil refiner which has been expanding into renewable energy, on Wednesday warned of the surging cost of developing its offshore wind project, with its CEO saying returns were difficult to achieve.Eneos unit, Japan Renewable Energy…
Singapore-based marine logistics firm Marco Polo has hired Norwegian ship designer Salt Ship Design to design the CSOV Plus, the next-generation commissioning service operation vessel (CSOV) for oil and gas and offshore wind sectors.The contract…
China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has started production from the Wenchang 16-2 oil field development project in the northern part of South China Sea.The project is located in the western Pearl River Mouth Basin…
Offshore drilling contractor Shelf Drilling has secured short-term contract for the Shelf Drilling Enterprise and a contract extension for the Trident 16 jack-up drilling rigs.The Shelf Drilling Enterprise has been hired for one firm well operation in Vietnam…
Norway-based Axess Group has secured contracts with Seatrium to deliver Brazilian Regulatory Compliance (BRC) services for six floating production, storage and offloading (FPSO) units set for deployment off Brazil.Axess Group has been tasked to deliver BRC services for P-78…
Yinson Production, via its joint venture PTSC South East Asia (PTSC SEA), has secured a lease and operate contract for a new floating storage and offloading (FSO) unit for Vietnam’s offshore Block B gas development.The contract was awarded by Phu Quoc Petroleum Operating Company (PQPOC)…
Austrian oil and gas firm OMV has signed an agreement with Lukoil Gulf Upstream, a subsidiary of Russia’s Lukoil, to divest its stake in a sour gas development offshore the United Arab Emirates (UAE).OMV has agreed the sale of 5% stake in the…
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