Italian energy services firm Saipem has secured a contract from GOE Petrol Sanayi for commissioning services on the Osman Gazi floating production unit (FPU), destined for the Sakarya gas field development in the Turkish Black Sea.The contract is expected to run for approximately eight months and follows an Operation Readiness & Assurance support services contract awarded to Saipem in April 2026.The latest award expands Saipem's involvement in the Sakarya development…
Eastern Mediterranean-focused gas producer Energean posted a 45% jump in first-half profit on Wednesday, helped by a lower tax charge in Italy, and said production had recovered strongly following the restart of operations in Israel.The company…
BP has completed a planned maintenance program on the Central Azeri platform in Azerbaijan's Azeri-Chirag-Deepwater Gunashli (ACG) field ahead of schedule.The turnaround began on August 19 and was originally scheduled to last 11 days. BP said…
India's top explorer, Oil and Natural Gas Corp (ONGC), hopes to soon sign agreements with Venezuela to operate two oil blocks under the South American nation's new petroleum law, its finance chief said on Wednesday.State-run ONGC, through its overseas investment arm ONGC Videsh…
Italian oil and gas contractor Saipem on Monday revised down its expectations for 2026 core earnings to take into account extra costs linked to the Middle East crisis.The de-consolidation of its shallow-water drilling business, which Saipem recently sold…
Serica Energy has agreed to acquire Pharos Energy in a cash deal valuing the London-listed oil and gas producer at approximately $194.5 million (£145.7 million), prompting Pharos to withdraw its recommendation for a rival takeover offer from Ratio Petroleum…
James Fisher and Sons and Aquaterra Energy have formed a strategic global partnership to provide integrated offshore decommissioning services, combining front-end engineering, well access, subsea operations and offshore execution under a single delivery model…
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…
Sunda Energy has started evaluating options for the planned Chuditch-2 appraisal well offshore Timor-Leste following discussions with regulators and its joint venture partner, while separately advancing its acquisition of a New Zealand production business…
SBM Offshore has signed a contract with Shanghai Waigaoqiao Shipbuilding (SWS) and China Shipbuilding Trading (CSTC) for the construction of its seventh generic Fast4Ward Multi-Purpose Floater (MPF7) hull.The MPF7 will use SBM Offshore's proprietary…
Italian energy services company Saipem has signed a binding agreement to sell its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company for $285 million, as it seeks to focus on deepwater and harsh-environment offshore drilling…
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…
EnQuest has agreed to acquire interests in four offshore production sharing contracts (PSCs) in Malaysia for up to $833 million, a deal that would significantly increase the independent energy company's production, reserves and cash flow.The…
SBM Offshore has entered into a shareholders' agreement with long-standing business partner NYK to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the Chalchi floating storage and offloading (FSO) unit…
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