Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders the remaining 47% on a fully diluted basis…
Subsea7 has secured contract by Chevron for subsea installation in the Eastern Mediterranean.Subsea7’s scope includes the transport and installation of approximately 17 kilometers of subsea flowlines and umbilicals.Project management and engineering…
Malaysia’s Petronas has strengthened upstream collaboration in Sabah through a new oil and gas production sharing contract (PSC) award and an equity transfer agreement involving state-linked partners.Petronas Carigali, a wholly owned subsidiary of Petronas…
Offshore drilling contractor Vantage Drilling has secured a contract with Oil and Natural Gas Corporation (ONGC) for its ultra-deepwater drillship Platinum Explorer for operations off India.The binding Notification of Award (NoA) from ONGC comes…
Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say…
BP posted quarterly profit in line with analyst expectations on Tuesday and suspended its share buyback programme as it wrote down around $4 billion in its renewables and biogas businesses.BP, whose new CEO Meg O'Neill will start in April, said…
Oslo-listed Vaar Energi, majority-owned by Italy’s Eni, kept its quarterly dividend unchanged on Tuesday after lifting its output target and posting a higher-than-expected operating profit, even as weaker oil and gas prices weighed on earnings…
Abu Dhabi National Oil Company (ADNOC) and RWE Supply & Trading have agreed to explore potential liquefied natural gas (LNG) supplies of up to 1 million tonnes per annum to Germany and other European markets under a new strategic collaboration framework…
Eni has shipped the first liquefied natural gas (LNG) cargo from Phase 2 of the Congo LNG project, marking the start of LNG exports from the Nguya floating liquefied natural gas (FLNG) unit offshore Congo.With the start-up of Phase 2, the Congo…
Perenco has installed the Kombi-II mobile offshore production unit (MOPU) at its operated Kombi-Likalala-Libondo II (KLL II) field as part of the redevelopment of the mature Congolese offshore asset.The project, representing an investment of more than $200 million…
New Zealand has shortlisted contractors to build a liquefied natural gas (LNG) import facility to boost energy security, provide a reliable backup power source and support economic growth, Energy Minister Simon Watts said on Monday.The government…
EXMAR has been selected by Cedar LNG, the partnership between Haisla Nation and Pembina Pipeline Corporation, to provide marine operations and maintenance services for the floating liquefied natural gas (FLNG) unit as part of Cedar LNG project…
EnQuest has been grated a four-year extension to the Block 12W production sharing contract by PetroVietnam.The extension, granted on the contract’s existing terms, runs until July 2034 and allows EnQuest and its partners to continue development activities across Block 12W…
Government officials stated on Sunday that Namibia would not recognize the purchase of offshore stakes by TotalEnergies or Petrobras announced last week until the oil companies followed the proper approval route.A spokesperson for the Presidency…
Saipem’s first resident underwater drone Hydrone-R has completed an autonomous survey mission over the Arctic coral area of the Njord field offshore Norway, operating without cables or surface vessel support.Hydrone-R Underwater Intervention Drone carried out the mission independently…
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