The European Investment Bank (EIB) has allocated $1.84 billion to finance the construction of the Bay of Biscay electricity interconnection between Spain and France.The EIB financing for the Bay of Biscay project takes the form of loans to Spanish…
Iraq has signed a deal to establish a subsea oil pipeline for exports via its southern ports, the country's oil ministry said on Sunday.The project is in cooperation with Italian offshore contractor Micoperi and Turkey's Esta for a pipeline with capacity of 2…
BP Trinidad and Tobago has taken the final investment decision (FID) for the Ginger gas development offshore Trinidad and Tobago, while marking the exploration success at its Frangipani well.Taking FID on Ginger and discovering gas at Frangipani…
BP has completed drilling operations at the El Fayoum-5 gas discovery well in the North Alexandria Offshore Concession, marking the final well in its four-slot drilling campaign in the West Nile Delta.Drilled using the Valaris DS-12 drillship…
BP has started production from the second development phase of the Raven field offshore Egypt, the global oil company said on Sunday.BP said in a statement that the new wells are set to produce approximately 220 billion cubic feet of gas and 7 million barrels of condensate…
Offshore services firm Subsea7 has secured a ‘sizeable’ contract by Turkish Petroleum Offshore Technology Center (TP-OTC) to provide inspection, repair and maintenance (IRM) services for the Sakarya gas field development in the Black Sea.The…
BP and XRG, ADNOC’s international energy investment company, have established new regional gas platform, Arcius Energy, to initially focus on development of gas assets in Egypt.Announced in February 2024, Arcius Energy is 51% owned by BP and 49% by XRG…
QatarEnergy has entered into an agreement with Chevron to acquire a 23% working interest in the concession agreement for the North El-Dabaa (H4) Block, in the Mediterranean Sea, offshore Egypt.According to the agreement, QatarEnergy will acquire a 23% interest…
Certification body DNV has launched the second phase of its floating substation joint industry project (JIP), which aims to establish standards for offshore substations in the growing floating wind sector.The new phase will play a key role in refining guidelines and closing technology gaps…
TGS has entered the software solutions market with Imaging AnyWare – a proprietary TGS enterprise processing system designed to enhance subsurface imaging and integration projects.Imaging AnyWare is used globally across various geological basins…
Oil giant Saudi Aramco on Tuesday reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins.Aramco posted second-quarter net income of 109.01 billion riyals ($29.03 billion) in the three months to June 30…
Egypt's Ministry of Petroleum and Mineral Resources signed two agreements with international companies on Sunday to invest $340 million to boost oil and gas production in the Mediterranean and Gulf of Suez.After discussions between Egypt's Petroleum…
Subsea Integration Alliance, a global alliance between Subsea7 and SLB’s OneSubsea, has secured a ‘sizeable’ contract from BP for the engineering, procurement, construction and installation (EPCI) of subsea pipelines and production systems at Murlach development in the North Sea…
Energy and marine consultancy ABL has secured a contract by INELFE (INterconexión ELéctrica Francia-España) to provide marine warranty survey (MWS) services to oversee the offshore transportation and installation (T&I) of the Biscay interconnector between France and Spain…
