Industry News

Europa Oil & Gas signed a binding farm-out agreement covering the EG-08 production sharing contract offshore Equatorial Guinea, securing a partner ahead of planned exploration drilling.Under the agreement, Europa will farm out a 40% working interest in the EG-08 block to APCL. The transaction is structured to support the drilling of the Barracuda exploration well, […]

Saipem agreed to extend the amended bareboat charter for the seventh-generation drillship Deep Value Driller through 31 July 2026, maintaining the vessel’s availability for deepwater well programs. The extension covers a firm period of 31 days with options to prolong charter further into 2027.In addition to the charter extension, the parties agreed to prolong the

Baker Hughes contracted with Kuwait Oil Company (KOC) to provide advanced artificial lift systems and associated services to enhance production in Kuwait’s oil and gas fields.Under the multi-year agreement, Baker Hughes will supply its portfolio of electrical submersible pumps (ESPs) as well as installation, surveillance and maintenance services. ESP performance will be further optimized through

Helix Energy secured a multi-year contract with a major operator for riserless plug and abandonment (P&A) operations on up to 34 subsea wells in the UK North Sea. The awarded scope of work is scheduled to start in 2026 and includes the flushing and disconnection of pipelines and well P&A.Helix expects to use Helix-owned assets

INEOS Energy and Shell made a new oil discovery in the Norphlet formation in the US Gulf of Mexico. Shell is the operator of the well with a 79% working interest, while INEOS Energy holds the remaining 21% interest.The discovery was made at the Nashville exploration well, drilled more than five miles beneath the seabed

Odfjell Drilling signed a contract with Equinor for use of the semisubmersible Deepsea Aberdeen to drill an unspecified scope in an interim period on the Norwegian Continental Shelf, before moving to the Fram Sør project offshore Norway.The work will begin in Q4 2026 in direct continuation of Deepsea Aberdeen’s current contract with Equinor and is

Shell Offshore took a final investment decision (FID) on a waterflood project at its Kaikias field in the US Gulf of Mexico. Water will be injected to displace additional oil in the reservoir formation which supplies production to Shell’s Ursa platform in the Mars Corridor.In August 2014, the Kaikias field was discovered at a depth

BW Energy converted a short-term lease for the Super Gorilla class jack-up rig BW MAROMBA B into a long-term project lease agreement with Minsheng. The agreement covers the rig purchase and all work required to prepare the unit as a combined drilling and production wellhead platform for the Maromba field. The lease will take effect

Dana Gas made a new gas discovery after drilling the North El-Basant 1 exploratory well onshore in Egypt’s Nile Delta. Early results from the well indicate 15–25 billion cu ft of recoverable gas, and production is expected to exceed 8 million cu ft per day once the well is connected to Egypt’s national network.The discovery

Eni announced a gas discovery in the Konta-1 exploration well, drilled in the Muara Bakau PSC in the Kutei Basin, about 50 km off the coast of East Kalimantan in Indonesia. Estimates indicate 600 billion cu ft of gas initially in place (GIIP) with a potential upside beyond 1 trillion cu ft.Konta-1 was drilled to

Block Energy received a non-binding farm-in offer from a major energy company that would carry a full appraisal program across the Patardzueli–Samgori area of Project III in Georgia. The proposal follows extended technical work between the companies and outlines a multi-well sequence of re-tests, sidetracks and reservoir data acquisition.The appraisal scope includes three historical well

Equinor made two new discoveries of gas and condensate in the Sleipner area of the North Sea. The wells were drilled by the Deepsea Atlantic rig, which will move to the next exploration well in the area. License holders are Equinor (60%) and Aker BP (40%).The two wells, Lofn and Langemann in production license 1140,