Expand Energy ‘Not Waiting Around’ for New CEO as Search for Leader Continues
Expand Energy’s interim chief Michael Wichterich said the company will not pause its growth plan while it searches for a permanent CEO. The board expects to appoint a new leader within six to nine months, preferably an energy‑sector veteran. Meanwhile, Expand secured a foundational offtake contract with Delfin LNG, giving it access to a floating liquefied natural gas facility on the Gulf Coast. The deal also includes managing gas supply for the floating units, positioning the firm for premium markets in Europe and Asia.
Royal Navy Chief Says Russia Remains ‘Gravest’ Threat to UK Subsea Security
Russia is deemed the gravest threat to the United Kingdom’s subsea security, according to First Sea Lord General Sir Gwyn Jenkins. Over the past two years, Russian naval activity in UK waters has risen by nearly a third, prompting the...
Murphy Dominates Cameroon Licensing Round
Murphy Oil emerged as the clear winner of Cameroon’s latest licensing round, securing four offshore blocks—Etinde Exploration, Tilapia, Elombo and Ntem—covering roughly 10,600 km² in the Douala‑Kribi‑Campo basin. The U.S. independent’s win expands its African footprint beyond Ivory Coast and Morocco,...
Bolivia’s State Player Gets New Head After CEO Resigns Less than a Month in the Job
Bolivia’s state‑owned oil company YPFB has appointed Sebastian Daroca Oller as its new chief executive after the previous CEO, Claudia Cronenbold, resigned less than a month into her tenure. The rapid leadership change comes amid widespread fuel shortages, long pump...
SLB Profits Drop as Middle East War Marks ‘Challenging Start of the Year’
SLB reported a 6% decline in first‑quarter profit, posting $752 million, or $0.50 per share, as the Middle East conflict disrupted its well‑construction and reservoir‑performance businesses. Net revenue rose modestly to $8.72 billion, driven by a 26% jump in North America sales...
EU Widens Sanctions on Russian Energy Sector
The European Union announced a new sanctions package targeting Russia's oil and gas sector, adding regional producers Bashneft, Slavneft and Nizhnevolzhskneft, 12 major refineries, and several Gazprom subsidiaries to its blacklist. The measures also extend to maritime assets, sanctioning 46...
Vietnam Offshore Gas EPCIC Awarded to Domestic Player
Vietnam’s state‑owned contractor PetroVietnam Technical Services Corp Mechanical & Construction (PTSC M&C) secured the EPCIC contract for the Su Tu Trang Phase 2B offshore gas project in Block 15‑1. The award marks the second phase of development for the Su Tu Trang field, which aims to boost Vietnam’s...
Drillship Arrives in Namibia for Potential Two-Well Campaign
Saipem's 12,000‑ton drillship arrived in Walvis Bay, Namibia, marking the company's latest deployment in Africa's emerging offshore sector. The vessel is slated to support Rhino Resources' planned two‑well exploration campaign targeting the country's offshore basins. The arrival underscores growing interest...
Equinor and Vaar Team up for 'New Concept' Exploration Well
Equinor and Vaar Energi announced plans to drill the Lakris prospect, a large‑scale exploration well in the Norwegian Sea, slated for the third quarter of 2026. The well has been labeled a “new concept” or high‑impact project, reflecting its potential...
Key Contracts Awarded for Indonesia Offshore Gas Project
Conrad Asia Energy has awarded the core contracts for phase one of its Mako offshore gas development off Indonesia, a project valued at US$320 million. The contracts cover drilling, subsea infrastructure and processing facilities, positioning the field for a production start‑up...
Fresh Delays at Qatar Expansion Megaproject Amid Iran War Uncertainty
QatarEnergy’s Maydan Mahzam offshore expansion, a multibillion‑dollar LNG project, is experiencing fresh delays as its bid process stalls. The uncertainty stems from heightened tensions in the Strait of Hormuz and the broader Iran‑Israel conflict, which have disrupted shipping routes and...
Myanmar Signs Deal with Chinese Operator to Increase Oil Production
Myanmar’s government has signed a cooperation agreement with a Chinese oil operator to boost output at the on‑shore Htaukshapin‑Kanni field. The partnership will focus on enhanced petroleum recovery techniques to extract additional barrels from the mature reservoir. While the exact...
War Risk Insurance Costs Surge for Middle East Offshore Projects
Rising war‑risk insurance premiums for vessels navigating the Strait of Hormuz are inflating costs on critical offshore oil and gas projects across the Middle East. The surge follows recent attacks that have heightened geopolitical tension and disrupted logistics. Contractors now...
Saipem Gets to SURF with ExxonMobil's Latest Guyana Project
Saipem secured a contract to perform subsea engineering for ExxonMobil's proposed Longtail development offshore Guyana. The deal gives the Italian contractor the green light to execute SURF (Subsea Umbilical Risers and Flowlines) work, marking its first such engagement in the...
Saipem Sees Earnings Growth as Strait of Hormuz Closure Clouds Future
Saipem reported first‑quarter revenue of €3.53 billion ($4.15 billion) and flat profit, while adjusted EBITDA jumped 23% to €434 million ($511 million), matching analyst forecasts. The Italian contractor secured €1.7 billion ($2.0 billion) in new contracts and cut capital spending by 58% to €44 million ($52 million). It...