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…
Dragon Oil, Carlyle Group, Energean and Artemis Energy are among the groups expected to bid this week for assets in BP's West Nile Delta natural gas development off Egypt, three sources familiar with the sale process said.British oil major BP…
TGS has been hired for an ocean-bottom node (OBN) seismic survey in the Africa, Mediterranean and Middle East (AMME) region, with offshore operations scheduled to begin in the fourth quarter.The company said a deepwater acquisition crew is due to mobilize in the fourth quarter…
Seatrium has received Approval in Principle (AiP) from Bureau Veritas Marine & Offshore for its 30 MW Floating Data Centre (FDC) concept, marking a milestone in the development of offshore digital infrastructure designed to support growing demand for artificial intelligence and cloud computing…
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…
Demand for high-capability offshore support vessels for floating offshore wind is expected to strengthen in the late 2020s, with availability constraints emerging in some segments as early as 2029, according to a new report from ABS.Produced by ABS in collaboration with Intelatus Global Partners…
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…
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…
Egypt's parliament approved four oil and gas exploration and development agreements on Wednesday, including a North Sinai project involving Franco-British independent producer Perenco.Egypt is looking to bolster domestic energy production that…
PALFINGER has secured a contract from Smulders to supply 64 davit cranes for the East Anglia TWO offshore wind farm in the UK, extending its presence in one of Europe's largest offshore wind markets.The order covers one PF 160-5m davit crane for each of the project's 64 wind turbines…
Saipem has secured an offshore drilling contract worth approximately $260 million from Eni for a long-term development drilling campaign offshore Côte d'Ivoire.The contract will see the Santorini drillship deployed on the campaign from early 2027 under a firm drilling program…
Equinor on Wednesday reported a sharp rise in second-quarter profits, as expected, lifted by a surge in oil and gas prices as the war in the Middle East disrupted global energy supplies.The Norwegian group's adjusted earnings before tax for the April to June period rose to $11…
Jadestone Energy has brought the second well in its 2026 Malaysia infill drilling campaign onstream at 2,800 barrels of oil per day (bpd), extending the program that has increased production from the East Belumut field by more than 150%, or about 6…
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