Equinor has secured a permit from the Norwegian Offshore Directorate (NOD) to drill a wildcat well in the Barents Sea.The permit is for wellbore 7220/5-EC-2 H in production license 532.The license is operated by Equinor with 46.3%, with partners Vår Energi holding 30% and Petoro the remaining 23…
Top oilfield services companies SLB and Baker Hughes said on Friday they expect higher spending on oil exploration and production, as tighter global supplies driven by the Middle East conflict highlight the need for investment, particularly in North America…
Portugal's Galp Energia reported a 41% jump in first-quarter adjusted core profit on Monday, beating expectations on higher oil output in Brazil and stronger crude prices.The energy firm reported adjusted earnings before interest, taxes, depreciation…
The changing shape of the oil and gas landscape presents both an opportunity and a challenge for well decommissioning. Well decommissioning, particularly the safe execution of plug and abandonment (P&A) operations, represents a significant opportunity…
Continued idling of assets should the conflict persist would see wider MODU market tightening as drillers and NOCs manage capacity.The impact of the war in the Middle East on the offshore energy sector has so far received less attention than…
Helix Energy Solutions and Hornbeck Offshore Services have agreed to combine in an all-stock transaction to create an integrated offshore services company.Under the agreement, Hornbeck shareholders will own about 55% of the combined company…
Ecopetrol has signed a share purchase agreement to acquire about 26% of Brava Energia and plans to launch a tender offer to gain majority control of the company.The agreement covers the purchase of 120,813,490 common shares from a group of selling shareholders…
Sierra Leone has signed an agreement with Shell that allows the oil major to conduct advanced geological and geophysical surveys across multiple offshore blocks, the country's petroleum directorate said on Wednesday.The reconnaissance permit agreement covers an area of approximately 20…
Workers at Inpex’s Ichthys liquefied natural gas facility in Australia have voted in favour of strike action over pay and conditions, union group the Offshore Alliance said on Friday, in a decision that could exacerbate already tight energy supplies globally…
Brazil's government on Thursday unveiled a bill to be sent to Congress under which additional revenue from higher oil prices, driven by the U.S.-Israel conflict with Iran, would offset cuts to federal taxes on fuels.Planning Minister Bruno Moretti said the proposal aims for full fiscal neutrality…
Oilfield services provider Baker Hughes beat Wall Street estimates for first-quarter profit, as strong demand in its industrial and energy technology unit offset drilling weakness caused by disruptions in the Middle East.A surge in electricity demand from data centers…
Well-Safe Solutions has secured a multi-year contract with Apache North Sea to decommission platform and subsea wells in the Forties Field.Work is set to begin in 2026, with Well-Safe leading project management, engineering and offshore delivery of the decommissioning program…
With one year since the last AHTS report, we have now started to see the effects of a tightening supply-demand balance as earlier predicted, which has translated into a significant uptick in the North Sea spot market especially.The total global AHTS fleet totals just south of 1…
Over the last few years, the energy trilemma has pivoted away from energy transition to energy security and affordability. As a result, offshore oil & gas exploration and production activity, including deepwater activity, has been relatively healthy…
Deepwater production continues to remain a core part of the long-term energy supply mix. While production from conventional onshore and shallow-water assets is expected to remain broadly flat under our base case, Welligence estimates that global…