The Norwegian parliament on Tuesday ordered the Labour minority government to launch a new frontier areas oil and gas exploration licensing round, setting the stage for increased oil drilling.Norway became Europe's largest supplier of natural gas following Russia's invasion of Ukraine in 2022…
A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South American country, Alistair Routledge, said during a conference on Tuesday…
Offshore drilling contractor Valaris has secured a $135 million contract for its Valaris DS-15 drillship, which will be put to work offshore West Africa.The five-well contract with an undisclosed client is expected to start in the third quarter 2026…
ADNOC Drilling has been awarded a contract for three island rigs by ADNOC Offshore, valued approximately $806 million, to support expanding operations at the offshore Zakum development project.The three rigs are in addition to three ordered in July 2024…
BW Energy has made a final investment decision (FID) for the Maromba development offshore Brazil, which will feature an integrated drilling and wellhead platform (WHP) and a refurbished floating production, storage and offloading (FPSO) unit…
The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi…
Oilfield services firm Archer has signed a five-year contract with Repsol Resources UK for platform drilling services, facilities engineering, coil tubing, wireline services, and downhole well service technologies.The agreement also includes a two-year optional extension…
Micropiling technology specialist Subsea Micropiles has installed its micropile anchor solution for Orkney Harbour Authority (OHA) in Scotland, adapted to both floating and bottom-fixed offshore wind.Following a period of intensive development with over $13 million invested in R&D…
Offshore drilling company Valaris has secured over $1 billion of new contracts and extension for its drilling rigs since its previous fleet status report published mid-February 2025.Valaris’ contract backlog, excluding lump sum payments such as mobilization fees and capital reimbursements…
Egyptian Natural Gas Holding Company (EGAS) and ExxonMobil have signed a memorandum of understanding (MoU) to strengthen the collaboration for Mediterranean Sea oil and gas exploration.The MoU was signed to establish the necessary foundations for developing the agreements system if ExxonMobil Egypt…
Akrake Petroleum, Rex International's indirect subsidiary, has signed contracts for a Mobile Production Unit (MOPU) and an Aframax tanker to be used as a Floating Storage and Offloading (FSO) unit for its Seme field, off Benin.The MOPU will be converted from a medium-sized drilling rig…
The Norwegian Offshore Directorate has granted Aker BP a drilling permit for a wildcat well in the North Sea.The permit is for wellbore 25/1-14 in production license 873 B, which is operated by Aker BP, with a 47.7% working interest.Aside from Aker BP…
The U.S. Interior Department said on Thursday it has implemented new guidelines for allowable pressure differences in a certain type of oil drilling in part of the Gulf of Mexico, changes it expects can boost U.S. oil output.President Donald…
Chevron is considering drilling an exploration well in the Walvis Basin off the coast of Namibia in 2026 or 2027, the U.S. oil major said on Thursday.Chevron Namibia Exploration Limited said it is maturing its prospect portfolio offshore Namibia…
Rhino Resources, the operator of the petroleum exploration license (PEL85), and its partners have found oil in the Capricornus 1-X well in Orange Basin, offshore Namibia.The Capricornus 1-X well, spudded on February 17, using Noble Corporation’s Noble Venturer drillship…
