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.Serica said the acquisition would expand its operations into Vietnam and Egypt, increasing its pro forma 2P reserves by 13% to 156.8 million barrels of oil equivalent…
Baker Hughes said on Monday it expects annual global spending by oil and gas producers to decline modestly this year, with growth in Latin America, offshore Africa, and North America land offset by lower spending in Europe and the Middle East…
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…
Apollo Global Management will invest $1.5 billion in Singapore-based Keppel's new private fund that will hold six operational oil rigs, the two companies said on Monday.The deal will help Keppel monetise its non-core assets and unlock capital for re-investment…
The Western Australian government has granted State Significant Project status to the proposed Browse to North West Shelf Project, providing priority government support as the Woodside-led Browse Joint Venture advances the offshore gas development through approvals…
KOIL Energy has secured its first contract in Brazil for subsea umbilical maintenance services, marking the company's entry into the world's largest deepwater offshore market.The contract covers the re-termination and testing of subsea umbilical components…
U.S.-based oilfield services company Expro has completed its acquisition of Norwegian managed pressure drilling (MPD) specialist Enhanced Drilling for approximately $208 million (NOK 2 billion), expanding its portfolio with drilling technologies…
Worley has secured a contract by Petrogas E&P Netherlands to carry out the pre-front-end engineering design (pre-FEED) study for the Abeona carbon capture and storage (CCS) project in the Dutch North Sea.The Abeona project is intended to develop…
DOF Group has agreed to sell four platform supply vessels (PSVs), acquire two construction support vessels (CSVs) under construction and declare a constructive total loss on the anchor handling tug supply (AHTS) vessel Skandi Amazonas, as the company continues to optimize and modernize its fleet…
Asian and European buyers of liquefied natural gas (LNG) plan to ask for lower prices and additional supply guarantees from Qatar and the United Arab Emirates as the U.S.-Iran war raises insurance costs on those deliveries, buyers, traders and industry executives told Reuters…
Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil are exiting the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed, even as a Saudi vessel came under attack in the region.The ships' attempt…
TGS has launched three seismic data projects offshore Ghana, Norway and Canada, expanding its multi-client data portfolio as explorers seek to unlock frontier and underexplored offshore basins.The company signed an agreement with Ghana's Petroleum…
OMV Petrom and Romania's Romgaz have completed the installation of the offshore production platform for the Neptun Deep natural gas project in the Black Sea, marking a major milestone as the development remains on track to start production in 2027…
Ocean Winds, a 50/50 joint venture between EDP Renewables and Engie, has secured offshore consent from the Scottish government for its 2 GW Caledonia offshore wind farm, clearing the final major regulatory hurdle for the project.Located about 40 km offshore in the Moray Firth…
Japan's Inpex on Thursday launched construction of its long-delayed $21 billion Abadi LNG project in Indonesia's Masela gas block, in a ceremony that was livestreamed.Production from the plant is expected to start around 2030.Here are some details…
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