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 will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders the remaining 47% on a fully diluted basis…
Malaysia’s Petronas has strengthened upstream collaboration in Sabah through a new oil and gas production sharing contract (PSC) award and an equity transfer agreement involving state-linked partners.Petronas Carigali, a wholly owned subsidiary of Petronas…
Vietnam's authorities selected a newly created subsidiary of real estate conglomerate Vingroup to develop the first phase of one of the country's largest wind power projects, excluding Morgan Stanley-backed German renewable firm PNE which said the decision came as a surprise…
Offshore accommodation rig provider Floatel International has signed a contract with Brava Energia for its Floatel Victory unit, which will be deployed offshore Brazil.Floatel Victory will provide Maintenance and Safety Unit (MSU) services for Brava Energia…
Vard, the Norwegian subsidiary of the Fincantieri Group, has delivered the second Commissioning Service Operation Vessel (CSOV) to Windward Offshore, named Windward Paris.The naming ceremony was held at the delivery yard, Vard Brattvaag in Norway on January 28…
China-based offshore wind foundations manufacturer Dajin Heavy Industry and Spanish industrial group Zima Equity Investments have signed a memorandum of understanding (MoU) to jointly develop an offshore wind foundations manufacturing facility at the Port of Gijon in Asturias…
Tanzania expects to sign before June a deal for its stalled project to construct a $42 billion liquefied natural gas (LNG) plant, a senior government minister said on Monday, with production set to start in eight years' time.Equinor and Shell are joint operators of the mega gas project…
A joint venture between Nigeria’s state oil company Nigerian National Petroleum Company (NNPC) and Chevron Nigeria Limited (CNL) has confirmed hydrocarbons across multiple reservoir zones following the drilling of the Awodi-07 appraisal and…
BP's head of Trinidad and Tobago said on Monday the oil and gas major is still interested in cross-border opportunities with Venezuela, despite the government in Caracas suspending all bilateral energy agreements with its neighbor last year…
Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico for more than $5 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter.The asset manager has…
Subsea services provider OMS Group has signed contracts with Ulstein for the design and construction of two cable laying vessels (CLVs).The vessels will be designed by Ulstein Design & Solutions and constructed at Ulstein Verft, with delivery planned for 2028…
Abu Dhabi state oil firm ADNOC is weighing entering Venezuela's energy industry and could seek a partnership with another international producer to participate in the nation's gas projects, Bloomberg News reported on Thursday, citing people familiar with the matter…
Chevron and its partners in the Leviathan natural gas reservoir have reached a Final Investment Decision (FID) to expand the production capacity of the strategic Leviathan production platform located offshore Israel.The Leviathan expansion project…
ModuSpec, MR Group’s rig and well control equipment solutions business, has received Technology Qualification from classification society DNV for its blowout preventer (BOP) real-time monitoring capabilities, clearing the way for wider deployment…
Saudi Aramco and Commonwealth LNG have signed a long-term contract for the U.S. LNG developer to supply the world's largest oil exporter with 1 million metric tonnes per annum (mtpa), three people familiar with the deal tell Reuters.The deal…
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