Conrad Asia Energy and its subsidiary West Natuna Exploration have signed a binding term sheet with Empyrean Energy to settle historical cash call arrears related to the Duyung Production Sharing Contract in Indonesian waters.The agreement outlines a series of transactions that will see Empyrean’s 8.5% participating interest in the Duyung PSC transferred to West Natuna Exploration, followed by the incorporation of a Singapore-based special purpose vehicle in which Empyrean will hold an 8…
Dominion Energy said on Friday the total project costs for the Coastal Virginia Offshore Wind have increased to roughly $11.5 billion from $11.2 billion.The changes in estimated costs reflect the impact of temporary suspension of work issued by the U…
Subsea7 has secured a sizeable contract by Shell for the Kaikias Waterflood project, a deepwater development in the Mars-Ursa Basin, off the Louisiana coast in the United States.The scope of work includes the transportation and installation of a subsea umbilical…
French Finance Minister Roland Lescure called a draft law proposing to allow offshore oil and gas exploration in its overseas territories 'anachronistic' during a debate in the country's Senate on Thursday.In a world first, France banned new oil and gas exploration and production licenses in 2017…
Lukoil had agreed to sell most of its foreign assets, estimated to be worth around $22 billion, to U.S. private equity firm Carlyle Group pending approval from the U.S. government, Russia's No. 2 oil producer said on Thursday.Under U.S. sanctions because of Russia's actions in Ukraine…
Gulf Marine Services (GMS), a provider of jack-up support vessels to the offshore energy industry, has received a variation order from a major national oil company in the Middle East extending an existing contract for two of its jack-up support vessels…
Shell and BP are seeking U.S. Office of Foreign Assets Control licenses to extract natural gas from fields in Trinidad and Tobago and Venezuela, the Caribbean country's energy minister Roodal Moonilal said on Wednesday.Shell is seeking a license to develop the Loran-Manatee discovery…
A federal judge on Tuesday allowed Vineyard Wind to resume work on its Massachusetts offshore wind project, which President Donald Trump's administration halted along with four other projects last month.The ruling by U.S. District Judge Brian…
U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, four sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to…
The Australian Government is progressing the state of Victoria’s offshore wind industry with Minister for Energy and Resources Lily D’Ambrosio announcing the Request for Tender (RFP) for Victoria’s first offshore wind industry auction which…
European countries have agreed to jointly develop a vast offshore wind network, marking a pivotal step in the region's push to both trim its dependence on U.S. natural gas imports and tackle rising renewable energy costs.At the North Sea Summit on Monday…
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…
Beacon Offshore Energy has started oil and gas production from its Zephyrus field in the U.S. Gulf of America, with output from the initial well beginning in late December 2025.The Miocene-aged development is located in Mississippi Canyon Block 759…
Offshore drilling contractor Noble Corporation has secured new contract awards for nine rigs totaling about $1.3 billion in backlog, including a three-year deal that marks its entry into Norway’s harsh-environment floater market.The largest…
Libya signed a 25-year oil development agreement on Saturday with France's TotalEnergies and U.S.-based ConocoPhillips, involving more than $20 billion in foreign-financed investment, Prime Minister Abdulhamid al-Dbeibah said.Signed through Waha Oil Company…
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