North Sea oil and gas development company Orcadian Energy has agreed a farm-out deal with Carrick Resources.The deal, based on the fulfilment of certain work milestones, centres on a sub-area of Licence P2320 which contains the the Carra prospect…
Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin.Rapid recovery in demand after pandemic lockdowns and a surge…
Neptune Energy announced the safe and successful drilling of four development wells on the operated Fenja field in the Norwegian Sea, in preparation for production start-up. This marks an important milestone in the development of Fenja, which…
China's CNOOC Ltd has tapped commercial flows of oil and gas from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China, state media reported on Thursday.Exploration well Weiye-1…
Eni has announced a further 'significant' gas discovery, totaling an estimated 1-1.5 trillion cubic feet (Tcf) of gas in place, in its first exploration well drilled in offshore Block 2 Abu Dhabi, United Arab Emirates (UAE).This discovery was…
Norwegian oil company Equinor has awarded further work for Odfjell Drilling's Deepsea Stavanger semi-submersible drilling rig.The deal is awarded under the continued optionality mechanism provided for in the contract entered into by the two companies in May 2021…
Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1…
Offshore drilling firm Valaris said Tuesday that its Valaris MS-1 semi-submersible drilling rig had reached Santos' Barossa gas field offshore Australia.'On July 16, the VALARIS MS-1 completed the tow from Dampier to the Barossa Field offshore…
CGX, a Toronto-based oil and gas firm focused on the Guyana-Suriname Basin, has secured funding for its next offshore exploration well in Guyana's Corentyne block by agreeing to farm out a portion of its interest to its partner Frontera.As part of the agreement…
Mexican state oil company Pemex expects to post a rare annual profit this year, with two consecutive quarters already in the black and a boost to crude output from new fields, Chief Executive Octavio Romero told Reuters.If achieved, it will be Pemex's first annual profit in more than a decade…
Oil and gas company Wintershall Dea has found no hydrocarbons Brage South exploration well (31/4-A-13 C), offshore Norway, and will plug and abandon it. The news was shared by the Norwegian oil and gas company OKEA, which in May entered into…
UK-based offshore well plugging & abandonment company Well-Safe Solutions said Thursday it had secured a contract to plug and abandon (P&A) 14 wells on the UK continental shelf. The work is expected to secure 60 new offshore positions.The deal…
Offshore drilling contractor Borr Drilling has secured a binding Letter of Award for its jack-up drilling rig Mist.The deal is with the Abu Dhabi-based Mubadala Petroleum for drilling in Thailand. The contract length has an estimated duration of 210 days…
Africa-focused oil and gas company Chariot on Wednesday announced a 'material increase' in gas resource estimates for its assets offshore Morocco, as it works to reach a final investment decision for the Anchois gas field development.The company…
Schlumberger NV SLB.N on Friday raised its annual revenue forecast after beating analysts' second-quarter earnings expectations, buoyed by higher demand for its oilfield services and equipment.The company has benefited from a boost in activity driven by stronger oil and gas prices…
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