Offshore drilling company Valaris has secured approximately $715 million in new contracts and extensions since its last fleet status report issued three months ago.Contract backlog of $715 million excludes lump sum payments such as mobilization fees and capital reimbursements…
BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail.The result will ease pressure…
BP has taken a final investment decision on the Kaskida project in the U.S. Gulf of Mexico, with the oil production expected to start in 2029.Kaskida will be BP’s sixth hub in the Gulf of Mexico, featuring a new floating production platform with the capacity to produce 80…
Oilfield services firm Baker Hughes beat analysts' estimates for second-quarter profit on Thursday, powered by higher demand for its drilling services and equipment in international markets.The results echo those from SLB and Halliburton, as…
The drilling operations on the Selene exploration well in the Southern North Sea have begun with Valaris 123 rig.Shell, as the operator of the license P2437, has informed the drilling of the well 48/8b-3 has started using Valari’s Valaris 123 drilling rig…
Saipem and Curtiss-Wright Corporation have reached a new milestone for the subsea applications industry, having completed the qualification process of an all-electric seabed barrier fluid-less pump.Developed based on proprietary solutions inherited from the nuclear sector…
Strohm has won a contract from TotalEnergies for the supply of thermoplastic composite pipeline (TCP) flowlines for an offshore field located in the Santos Basin, marking the largest commercial award for pipe supply in company’s 16-year history and a first project in the Brazilian pre-salt…
Brazilian oil and gas company Enauta has resumed production from the floating production, storage, and offloading (FPSO) vessel operating at Atlanta field, offshore Brazil.Atlanta Field’s production resumed on July 26, and the maintenance period…
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…
Technip Energies has met all its contractual obligations for the engineering, procurement and construction (EPC) work for the second phase of Umm Lulu project, being developed 40 km offshore Abu Dhabi in United Arab Emirates.Abu Dhabi Marine…
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…
TotalEnergies has decided to withdraw from two oil and gas blocks offshore South Africa, with its partner in one of the blocks QatarEnergy also announcing its exit from the development.Following the decision of the partner CNRI to withdraw its 20% stake from Block 11B/12B…
Esgian provides an update on new rig deals in its Week 30 Rig Analytics Market Roundup.Report SummaryContractsValaris has been awarded a multi-year contract with Equinor Energy do Brasil, a subsidiary of Equinor, for the 12,000-ft drillship Valaris DS-17…
Baker Hughes cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region.However, the company raised its full-year revenue and profit estimates…
Brazil's state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia's huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday.If accepted…