Malaysia’s oil and gas services firm Velesto has secured a five-year drilling contract from Petronas for its NAGA 2 jack-up rig.Under the contract, NAGA 2 will undertake drilling activities beginning in February 2026 for a firm period of five years.The award is expected to contribute positively to the group’s rig utilization and earnings visibility from 2026 through 2030.NAGA 2 is an independent-leg cantilever jack-up drilling rig with a drilling depth capability of 30…
European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U…
Africa-focused Panoro Energy will take part in Equatorial Guinea's oil and gas auction in April as it hunts for new assets after increasing its stake in the country's offshore Block G, its executive chairman said on Friday.Panoro this week acquired an additional 40…
Venezuela's oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro, four sources with knowledge of the move told Reuters on Thursday.The suspension has had no impact on the country's oil and gas output so far…
Industrial services provider Bilfinger has secured two maintenance contracts in the United Kingdom, covering offshore operations at Ithaca Energy’s Cygnus gas field and onshore services at the St Fergus SAGE Terminal operated by Wood.The first…
Italian energy group Eni beat forecasts on Thursday with a 35% year-on-year jump in fourth-quarter adjusted earnings, driven by a strong performance in its exploration and production division and improved refining results.Adjusted net profit came in at 1…
Intermoor, Acteon’s Moorings and Anchors business been awarded a new contract by Petrobras for the provision of stack-up mooring system services in Brazil.This work will support light-workover interventions and abandonment operations on installed…
Oslo-listed oil and gas company Panoro Energy has agreed to acquire an additional 40.375% non-operated interest in Block G offshore Equatorial Guinea from Kosmos Energy for an initial cash consideration of $180 million, and additional contingent payments of up to $39…
Saipem has released its preliminary results for the fourth quarter and financial year 2025, confirming, for the fourth consecutive year, the trajectory of growth and improvement in profitability together with a further acceleration in cash generation…
National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over a $7 billion stake sale in its crude oil pipelines, three sources familiar with the matter said, following similar…
Indonesia's upstream oil and gas regulator SKK Migas expects Italy's Eni to reach its final investment decision next month for the development of the Geng North and Gendalo-Gendang gas projects, its head Djoko Siswanto told reporters.He said…
Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine group said the savings…
All-Cash Deal, Expanding Brazil FootprintTidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash transaction valued at approximately $500 million…
Tullow Oil has signed a sale and purchase agreement to acquire the floating production, storage and offloading vessel (FPSO) Prof. John Evans Atta Mills for $205 million, as Ghana ratified extensions to key petroleum agreements covering the Jubilee and TEN fields…
Geoinform, a subsidiary of MOL Group and a service provider in Hungary’s hydrocarbon and geothermal sectors, has signed a strategic cooperation agreement with Baker Hughes aimed at introducing advanced oil and gas technologies and boosting operational efficiency…
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