Finder Energy has agreed to acquire the Petrojarl I floating production, storage and offloading (FPSO) vessel from Amplus Energy for $15 million in cash and shares, in a move the company said will accelerate development of its Kuda Tasi and Jahal (KTJ) oil fields project, off Timor-Leste.The purchase price includes $6 million in cash and, subject to shareholder approval, the issue of about 37.2 million shares valued at $9 million…
Italy's Saipem has been awarded a new offshore contract worth approximately $425 million by Turkish Petroleum OTC for additional work on the third phase of the Sakarya gas field development in the Turkish sector of the Black Sea.The contract includes engineering…
Russian President Vladimir Putin has extended by one year the deadline for the sale of U.S. oil major ExxonMobil's stake in the Sakhalin-1 oil and gas project until January 1, 2027, according to a decree published on Wednesday.The extension…
Italian engineering group Saipem has secured an offshore engineering, procurement, construction and installation contract in Qatar with a total value of about $4 billion, of which its share amounts to approximately $3.1 billion.The contract…
North Sea-focussed oil producer EnQuest said on Wednesday it expects to meet or exceed the upper end of its 2025 output forecast of 40,000–45,000 barrels of oil equivalent per day (boepd) as it steps up expansion in Southeast Asia.The company…
India's Oil and Natural Gas Corp (ONGC) will pay into Russia's Sakhalin-1 oil and gas field abandonment fund in roubles, using Indian companies' frozen dividends to retain its 20% stake in the project, three sources familiar with the matter said…
Moscow and Beijing have been discussing ways to expand Russian oil exports to China, Russian Deputy Prime Minister Alexander Novak said on Tuesday.China and India have become the main buyers of Russian oil since the start of Russia's military campaign in Ukraine in February 2022…
Russia’s Lukoil has accepted an offer from commodity trader Gunvor Group to buy Lukoil International, the wholly owned unit that holds the oil producer’s overseas assets, following the sanctions and restrictive measures introduced primarily by the United States…
Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital revenue, but it will mostly just push more Russian oil into an increasingly large shadow market.The U.S. president said on…
ABL has been appointed through United India Insurance (UIIC) to oversee India’s Oil and Natural Gas Corporation (ONGC) rig moves between September 2025 and May 2026.Under the contract, ABL will act as marine warranty surveyor for an anticipated 25 ONGC rig moves…
Eni is aiming to get its gas joint venture with Malaysia's Petronas up and running some time next year, Guido Brusco, the Italian oil major's global natural resources chief operating officer, said on Monday.Both firms announced earlier this…
Dutch-based SBM Offshore has cut the first steel for Chalchi floating storage and offloading (FSO) at COSCO Shipyard in China, marking the start of construction of the unit bound for deployment at Trion deepwater oil field, offshore Mexico.The FSO’s name…
Russia is expected to start natural gas production at the new Sakhalin-3 project in the Pacific Ocean in 2028 to supply gas to China and for domestic needs, Russian news agencies said on Thursday, citing the local governor.The governor, Valery Limarenko…
Seatrium has received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its proprietary FLEXHull 1500K-M floating production storage and offloading (FPSO) design.The AiP underscores Seatrium’s ability to deliver advanced solutions for deepwater oil and gas production…
Malaysian independent oil and gas exploration firm Hibiscus Petroleum has spudded a new well at the Teal West field in the North Sea, off the coast of the United Kingdom.The drilling operations is being done with Shelf Drilling’s Shelf Drilling Fortress jack-up rig…
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