India is seeking over $30 billion in compensation from Reliance Industries and BP in an arbitration case for gas it says the companies failed to produce from offshore fields, according to three people with knowledge of the matter.A tribunal has been hearing the dispute in India since 2016 over gas produced from two deepwater fields, D1 and D3, in the D6 block of the Krishna Godavari basin, seven individuals with knowledge of the proceedings said…
Italy's Saipem has been awarded a new offshore contract worth approximately $425 million by Turkish Petroleum OTC for additional work on the third phase of the Sakarya gas field development in the Turkish sector of the Black Sea.The contract includes engineering…
Akrake Petroleum, Rex International's indirect subsidiary, has encountered technical difficulties during its drilling operations at Sèmè field off Benin, pushing back the production start beyond 2025.Akrake Petroleum, owned by Rex's Lime Petroleum…
Partners in the Aphrodite natural gas reservoir offshore Cyprus have approved the start of front-end engineering and design (FEED) work for the field's production systems and export infrastructure.The decision, taken on December 22, 2025, clears the way for FEED spending of about $105…
Italian engineering group Saipem has secured an offshore engineering, procurement, construction and installation contract in Qatar with a total value of about $4 billion, of which its share amounts to approximately $3.1 billion.The contract…
ConocoPhillips Skandinavia, and its partners Vår Energi, Orlen Upstream Norway, and Petoro, have made a final investment decision (FID) for the joint redevelopment of an oil and gas project in the Greater Ekofisk Area, offshore Norway.The FID is for the Previously Produced Fields (PPF) Project…
Britain’s Serica Energy has agreed to acquire a portfolio of Southern North Sea gas assets from Spirit Energy and affiliates for $74 million, expanding its U.K. upstream footprint and lifting reserves and production.The deal, signed through…
Equinor, Vår Energi and Petoro will invest around $395 million (NOK 4 billion) in the first discovery tied back to the Johan Castberg field in the Barents Sea.The decision comes eight months after Johan Castberg came on stream. Recoverable oil…
TechnipFMC has been awarded a significant contract by Ithaca Energy to deliver flexible risers, flowlines and associated subsea hardware for the Captain field development in the UK North Sea, the company said on Monday.The contract, classified…
Jasmine Energy has raised $25 million in senior secured bonds to support a new drilling campaign at the Yumna field in Block 50 offshore Oman, parent company Rex International Holding informed.The three-year bonds are expected to settle on December 12…
Norwegian technology company Vissim has secured a contract with a Qatar-based oil and gas operator to deliver a vessel collision avoidance system at an undisclosed oil field offshore Qatar.As part of a three-year agreement, Vissim will provide…
The Australian unit of U.S. oil giant Chevron said on Friday that the partners of the Gorgon Joint Venture have approved the A$3 billion ($1.98 billion) Gorgon Stage 3 development off Western Australia's northwest coast.The development will…
Equinor has started production from the Verdande subsea field in the Norwegian Sea, a development that is expected to keep the Norne floating production, storage and offloading (FPSO) producing beyond 2030.The field, which holds an estimated 36 million barrels of oil…
TotalEnergies has completed the divestment of its non-operated interest in the Bonga deepwater field offshore Nigeria, selling its share to Shell Nigeria Exploration and Production Company (SNEPCo) and Eni.SNEPCo, a subsidiary of Shell, completed…
The UK North Sea Transition Authority (NSTA) has approved a three-year extension to the second term of License P2244, which contains the Pilot oil field, pushing the expiry date to December 2028.Orcadian Energy holds an 18.75% carried interest in the license…
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