TotalEnergies, TPAO Sign Exploration MoU for Black Sea Opportunities in Türkiye
TotalEnergies and Turkey’s state oil company TPAO have signed a memorandum of understanding to jointly evaluate oil and gas prospects in the Black Sea and other offshore areas. The MoU sets up a technical collaboration framework, allowing both firms to combine subsurface expertise and assess prospective acreage. Recent gas discoveries have turned the Turkish Black Sea into a priority basin, and the partnership aims to accelerate resource appraisal. The agreement also leaves room for joint exploration outside Turkish waters.
ABL, PMS Partner on Rig Moving Services for Egypt Offshore Operations
ABL and Petroleum Marine Services (PMS) have signed a memorandum of understanding to deliver offshore rig‑moving and marine‑assurance services for Egypt’s offshore drilling sector. The agreement lets ABL provide technical support on a call‑off basis, covering rig inspections, dynamic positioning...
U.S. Loans 8.5 MMbbl From SPR in Second Release Amid Iran War
The U.S. Department of Energy has loaned 8.48 million barrels of crude from the Strategic Petroleum Reserve to Gunvor USA, Phillips 66, Trafigura Trading and Macquarie Commodities Trading, marking the second emergency release aimed at cushioning oil markets amid the Iran conflict....
TotalEnergies Targets Production Growth with Major Africa Projects, LNG Restart
TotalEnergies is positioning Africa as the engine of its production growth, with half of its operated output and the largest share of exploration spend coming from the continent. The company will spend $500 million in 2025 to drill additional wells in...
Baker Hughes Teams with DTEK to Expand Ukraine Gas Production Capacity
Baker Hughes and DTEK Oil&Gas have signed an MOU to boost Ukraine's natural‑gas production, leveraging Baker's advanced drilling technology and DTEK's local expertise. Ukraine holds about 1.1 trillion cubic meters of proven gas reserves, one of Europe’s largest untapped basins. The...
Saudi Oil Output, Exports Hit After Attacks on Energy Infrastructure
Saudi Arabia reported that recent attacks on key energy infrastructure knocked out more than 600,000 barrels per day of oil production and slashed East‑West pipeline flows by roughly 700,000 barrels per day. The offshore Manifa field and onshore Khurais complex...
Ovintiv Completes $3-Billion Anadarko Asset Sale, Advances Debt Reduction
Ovintiv has completed the sale of its Anadarko Basin assets in Oklahoma for $3 billion, generating roughly $2.85 billion in net proceeds. The company will use the cash primarily to reduce debt and to redeem $700 million of 5.650% senior notes due 2028...
Egypt Agrees to Buy Full Output From Cyprus’ Aphrodite Gas Field
Egyptian Natural Gas Holding Co. signed a preliminary agreement to purchase the entire output of Cyprus' Aphrodite offshore gas field once it begins production around 2031. The deal includes a framework to build an offshore transmission system operated by a...
MaverickX Expands PetroX Production with New Eagle Ford Facility in Texas
MaverickX has launched a new 10,000‑sq‑ft production facility in Pleasanton, Texas, to manufacture its PetroX chemical solutions for oil‑field applications. The plant, operating near the Eagle Ford shale, can produce about 14 million liters per year, shortening delivery times and lowering...
ONE-Dyas Boosts North Sea Gas Output to 1 Bcm/Year with Second N05-A Well
ONE‑Dyas has brought a second well online at its N05‑A platform in the North Sea, raising total output to roughly 1 billion cubic metres (Bcm) per year. The development moves the field toward its 2 Bcm/year name‑plate capacity, with peak production expected...
SLB OneSubsea, Subsea7 Sign Development Agreement with PETRONAS Suriname
SLB OneSubsea and Subsea7 have entered a strategic collaboration with PETRONAS Suriname to develop offshore subsea projects in the country’s emerging deep‑water basin. The Subsea Integration Alliance creates a long‑term framework for early engagement across the project lifecycle, covering engineering,...
Nigeria Touts $18 Billion Upstream Investment, Output Gains Ahead of Paris Forum
Nigeria announced $18.2 billion in approved upstream projects for 2025, covering 28 field developments and targeting roughly 1.4 billion barrels of reserves. Crude output has risen to 1.6‑1.7 million barrels per day, boosted by heightened drilling and a 200,000 bpd contribution from indigenous operators...
Decom Engineering Secures U.S. Patent for Subsea Cutting Technology
Decom Engineering has been granted a U.S. patent covering its proprietary Chopsaw subsea cutting system, which features a linear‑drive cutting head, modular drive configuration, and adaptable clamping. The patented design promises higher precision, safer operation, and faster on‑site maintenance for...
Ecopetrol Strike Risk Eases After CEO Exit, Union Backs Off
Colombia’s state‑controlled oil giant Ecopetrol saw its strike risk evaporate after the board placed CEO Ricardo Roa on a leave of absence until June 28, installing COO Juan Carlos Hurtado as interim chief. The Unión Sindical Obrera, representing roughly 5,000 workers,...
ABL Completes Multi-Phase Transport of Northern Endeavour FPSO to Recycling Yard
Australian marine services firm ABL has completed the final stage of transporting the Northern Endeavour FPSO from Australia to a recycling facility in Frederikshavn, Denmark. The multi‑phase operation included riser and mooring disconnection, a wet tow to Singapore, dry‑dock modifications,...
Eni Makes 2 Tcf Gas Discovery Offshore Egypt with Fast-Track Development Potential
Eni announced a 2 trillion‑cubic‑foot (Tcf) gas and condensate discovery at the Denise W‑1 well in Egypt’s Temsah concession, located about 70 km offshore in 95 m of water. The find sits less than 10 km from existing processing and export infrastructure, enabling a fast‑track...
Kharg Island Targeted in U.S. Strikes as Hormuz Tensions Lift Oil Prices
The United States launched precision strikes on military installations at Iran's Kharg Island, deliberately sparing the island's oil export terminals. The attacks, part of a broader campaign to pressure Tehran, coincided with President Trump's warning of a larger operation if...
Weatherford to Shift Domicile to Texas in Move to Streamline Structure
Weatherford International has filed a proposal to relocate its legal domicile from Ireland to Texas, aiming to simplify its corporate structure and boost financial flexibility. The redomestication, slated for completion in Q3 2026 pending shareholder and regulatory approval, aligns the company’s...
Continental Resources to Boost U.S. Oil Output as Crude Tops $100
Continental Resources announced it will raise its 2026 capital budget to boost oil production as crude prices break $100 a barrel amid the Iran‑Israel conflict. The Oklahoma‑based producer, which delivered 475,000 barrels of oil equivalent per day in Q4 2025,...
Ted Cruz Honored by TIPRO for Backing U.S. Oil and Gas Policy
U.S. Senator Ted Cruz was presented with TIPRO’s 2026 Hats Off Award at the Texas Independent Producers and Royalty Owners Association’s annual convention in Houston. The honor recognizes his legislative push to expand LNG exports, reduce regulatory burdens, and champion domestic...
Latin America Offshore Drilling Gains Appeal as Iran War Reshapes Markets
Constellation Oil Services Holding SA, a major deep‑water rig supplier to Petrobras, has extended three offshore drilling contracts and is eyeing Brazil’s Equatorial Margin and Pelotas Basin. CEO Rodrigo Ribeiro called Brazil the world’s best offshore drilling market, citing high‑quality...
Subsea7 Wins Equatorial Guinea Tieback Contract for Chevron Gas Project
Subsea7 secured a substantial subsea installation contract for Chevron’s Aseng Gas Monetization Project offshore Equatorial Guinea. The award covers roughly 19 km of rigid production flowline and 20 km of umbilicals, to be installed in about 800 m water depth, linking the Aseng...
Offshore, Onshore Panels Bring Encouraging Views to Energy Workforce Attendees
At the Energy Workforce & Technology Council’s Tucson meeting, offshore and onshore panels highlighted a renewed surge in deep‑water projects and the growing role of AI, automation, and performance‑based contracts in boosting efficiency. Offshore executives cited West Africa, Brazil, Guyana,...
Liberty Energy Raises $525 Million in Convertible Notes to Boost Financial Flexibility
Liberty Energy Inc. raised $525 million through a private 0.00% convertible senior note offering due 2032, marking its second financing round this year after a $770 million issuance earlier in 2026. The notes were sold to qualified institutional buyers under Rule 144A and...
Halliburton Acquires Norway’s Sekal to Expand Automated Drilling Capabilities
Halliburton announced the acquisition of Norway‑based drilling‑automation specialist Sekal AS from Sumitomo Corporation. The deal merges Halliburton’s LOGIX automation suite with Sekal’s DrillTronics platform, creating a unified digital well‑construction solution. Sekal’s technology, already deployed in more than 1,300 wells, will be...
EMGS Sells Core Geoservices Business in $2.5 Million Deal to Riggs Capital
Electromagnetic Geoservices (EMGS) has agreed to sell its core offshore geoservices business to private‑equity firm Riggs Capital for up to $2.5 million. The deal provides $1 million at closing and a $1.5 million earn‑out tied to future performance, while Riggs assumes selected liabilities....
BLM Lease Sales in Three States Generate $65 Million, Signal Stronger Onshore Drilling Outlook
The U.S. Bureau of Land Management’s latest lease sale across Colorado, Nevada and Utah generated $64.8 million from 136 parcels covering 131,121 acres. Utah accounted for the bulk of revenue, delivering $56.4 million from 57 parcels, while Colorado and Nevada contributed $8.1 million...
New Fortress Secures Long-Term Lease for Brazil FSRU LNG Terminal
New Fortress Energy has signed a long‑term lease and capacity agreement for its Terminal de Gás Sul (TGS) LNG import facility in Santa Catarina, Brazil, set to commence in August 2026. The deal is projected to generate roughly $50 million in annual...
ABL, Maridive Sign Marine Assurance Deal for Offshore Fleet Operations
ABL has signed a two‑year master services agreement with Maridive & Oil Services to provide marine assurance, risk support, and dynamic positioning (DP) services for its offshore fleet. The deal covers vessel inspections, audits, asset surveys, pre‑purchase assessments, DP assurance,...
Eco Atlantic Names Keith Hill Chairman as Board Reshuffle Takes Effect
Eco Atlantic Oil & Gas appointed Keith Hill as non‑executive chairman following its annual general meeting, succeeding Peter Nicol who stays on the board as a non‑executive director. The reshuffle aligns with the company’s push to expand offshore exploration across...
SLB, Azule Energy Expand Digital Platform to Optimize Angola Operations
SLB has signed a three‑year deal with Angola’s largest independent producer, Azule Energy, to broaden the deployment of its Delfi digital platform across the joint venture’s offshore assets. The expanded scope will integrate subsurface data with planning and execution workflows,...
Devon Energy’s Gaspar Sees Good Things Ahead, Stemming From His First Year and the Imminent Merger with Coterra Energy
Devon Energy CEO Clay Gaspar reflected on his first year, highlighting a three‑pillar strategy that sharpened culture, organic growth, and portfolio optimization. He explained that the recently announced merger with Coterra Energy is a strategic fit that delivers scale and operational...
Higher Oil Prices Could Revive U.S. Shale Drilling in 2026, Citi Says
Higher oil prices spurred by the Middle East conflict are prompting Citi to predict a resurgence in U.S. shale drilling later this year, with an expected output boost of more than 100,000 barrels per day by 2027. The bank’s forward‑curve...
IKM Testing Awarded Role on Northern Endurance CO₂ Transport and Storage Project
IKM Testing UK secured a pre‑commissioning contract for the Northern Endurance Partnership (NEP) carbon capture and storage project in eastern England. The work, overseen by main contractor Saipem, covers pipeline flooding, cleaning, gauging and hydro‑testing to ready the system for...
Chariot Funds Angola Offshore Acquisition, Secures Stake in Block 14 Production
Chariot, through its Etu Energias subsidiary, is acquiring a 20% working interest in Angola's Block 14 and a 10% interest in Block 14K, backed by $12 million of financing. The stakes give Chariot exposure to roughly 4,000 barrels per day of net production...
ReconAfrica Begins Production Testing at Kavango West Discovery in Namibia
ReconAfrica has begun production testing on its Kavango West 1X discovery well in Namibia after securing regulatory clearance. Updated petrophysical analysis now shows about 75 m of net hydrocarbon pay in the Huttenberg formation, expanding the total prospective interval to 345 m across...
Vantage Drilling Reports 2025 Profit as Offshore Activity Strengthens
Vantage Drilling International posted a 2025 net income of $40.3 million, a turnaround from a 2024 loss, driven by stronger offshore activity and an asset‑light, debt‑free model. The company secured a three‑year, approximately $261 million contract for the Platinum Explorer drillship, providing...
Serica Completes TotalEnergies Asset Deal, Establishes West of Shetland Gas Hub
Serica Energy has completed the acquisition of a 40% operated interest in TotalEnergies' Greater Laggan Area assets, adding roughly 5,000 barrels of oil equivalent per day (boed) to its portfolio. The deal gives Serica operatorship of the Shetland Gas Plant,...
Interior’s Burgum Sees U.S. Energy Agenda Proceeding as Planned
U.S. Interior Secretary Doug Burgum reaffirmed President Trump’s energy dominance agenda at CERAWeek, emphasizing abundant, affordable power to support the economy and allies. He warned that Iran’s missile range far exceeds public estimates, heightening security risks. Burgum highlighted a $1.5 trillion...
ConocoPhillips CEO Warns Supply Losses, Infrastructure Gaps Will Drive Higher Oil Prices
ConocoPhillips Chairman and CEO Ryan Lance warned that the removal of 8‑10 million barrels per day of oil and roughly 20% of global LNG capacity is creating a tight market that will push oil prices higher. He said U.S. shale output...
Sierra Leone Promotes Offshore Licensing, Upstream Potential at Paris Energy Forum
Sierra Leone’s Petroleum Directorate announced its sixth offshore licensing round, targeting deep‑water blocks in a largely untapped frontier basin. Recent 3‑D seismic surveys suggest the offshore could hold tens of billions of barrels of recoverable oil and gas. At the...
Petrobras Awards Foresea Long-Term Drillship Contract for Mero Field Offshore Brazil
Foresea secured a long‑term contract with Petrobras to operate the ultra‑deepwater drillship ODN I on the Mero field offshore Brazil, adding roughly $465 million to its order backlog. The agreement covers a 1,443‑day drilling campaign slated to begin in early 2027, with...
Nigeria Fast-Tracks Permits to Revive Idle Oil Wells, Boost Production
Nigeria’s Upstream Petroleum Regulatory Commission has reduced idle‑well permit approvals from weeks to mere hours, aiming to boost output as crude prices hover around $100 a barrel. The fast‑track process has already cleared 500 permits in 2024, encouraging local firms...
Saudi Arabia Ramps Yanbu Exports Toward 5 MMbpd as Hormuz Disruption Forces Rerouting
Saudi Arabia is accelerating crude exports from its Yanbu Red Sea terminals, aiming for a 5 MMbpd target as the Strait of Hormuz remains effectively closed by Iran. The East‑West pipeline linking Abqaiq to Yanbu can handle 7 MMbpd, but 2 MMbpd are...
Oil Executives, Investors Meet in Venezuela as Sanctions Easing Revives Upstream Interest
Dozens of hedge‑fund and oil‑company executives gathered in Caracas this week, marking one of the largest investor delegations to Venezuela in years. The meetings, organized by U.S. consultant Signum Global Advisors, follow a U.S. policy shift that is easing sanctions...
EnerMech Wins Five-Year FPSO Services Contract for Kraken Field, UK North Sea
EnerMech has been awarded a five‑year contract to provide crane management, lifting, helideck and scaffolding services on the Armada Kraken FPSO operated by Bumi Armada in the UK North Sea. The Kraken vessel can produce up to 80,000 barrels of...
Expro to Deliver Geothermal Well Testing for Vulcan Energy’s Lionheart Project in Germany
Expro has secured a contract to provide geothermal well‑testing services for the first Schleidberg well of Vulcan Energy’s Lionheart project in Germany. The Lionheart initiative, classified under the EU’s Critical Raw Materials Act, aims to pair geothermal power generation with...
Strohm to Supply TCP Production Jumpers for Deepwater Malaysia Field Extension
Strohm has secured a contract to supply insulated thermoplastic composite pipe (TCP) production jumpers for a deep‑water field extension offshore Sabah, Malaysia. The order covers two 7‑inch carbon‑fiber‑reinforced PA12 jumpers destined for installation at roughly 1,350 m water depth, with delivery...
Oil States Announces CEO Transition, Hajdik to Succeed Taylor in May
Oil States International announced that President and CEO Cindy Taylor will retire on May 1, 2026 after more than 25 years at the helm, with CFO Lloyd Hajdik slated to succeed her. Taylor will stay on as a consultant through October 2026 to...
McDermott Vessels Earn ISO 50001 Certification for Offshore Energy Efficiency
McDermott has secured ISO 50001 energy‑management certification for three offshore vessels—DB32, DB50 and DLV2000—extending the standard previously applied to its fabrication yards. The 2025 certification required vessel‑specific baselines, real‑time fuel monitoring and a plan‑do‑check‑act framework verified by third‑party auditors. By embedding...
