W&T Offshore, Inc. has announced the signing of a Memorandum of Understanding (MOU) with Korea National Oil Corporation (KNOC) to jointly consider and pursue various opportunities in upstream oil and gas as well as other potential joint venture opportunities along the energy value chain in North America. This non-binding MOU allows both parties to collectively […]

Seadrill Limited has been awarded three contracts by a leading operator for the West Ariel, West Cressida, and West Leda for work in the Middle East. The firm-term of each contract is three years with expected commencement between Q1 2023 and Q2 2023. Total contract value for the three contracts is approximately $404m (inclusive of mobilization […]

Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies. Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its […]

Eni’s Board of Directors, chaired by Lucia Calvosa,  has approved the unaudited consolidated results for the first quarter of 2022. Highlights Group’s results of operations in Q1 ‘22 In Q1 ’22, the Group reported an adjusted EBIT of €5.19 billion, up by 300% from Q1 ’21. This performance was driven by the robust results of […]

Exxon Mobil Corporation today announced estimated first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. First-quarter results included an unfavorable identified item of $3.4 billion associated with our planned exit from Russia Sakhalin-1, or $0.79 per share assuming dilution. First-quarter capital and exploration expenditures were $4.9 billion.  The Earned $5.5 billion in […]

ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.  The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022. The Barreleye-1 well encountered approximately […]

Valeura Energy Inc. said that it has entered into a Sale and Purchase Agreement with KrisEnergy to acquire all of the shares of KrisEnergy International (Thailand) Holdings Ltd.  SPA, which holds an interest in two operated licences offshore Thailand for total initial cash consideration of US$3.1 million, plus certain contingent payments of up to a […]

The North Sea Transition Authority (NSTA) has fined Shell UK Limited £50,000 and served it with a Sanction Notice for breaching five field production consents. Effective management of production consents is an indicator of good stewardship of fields, and is an important component of a stable, well-regulated industry which has the trust and confidence of […]

Maritime Developments (Ltd) has designed a bespoke solution for the transpooling and storage of Magma’s unique Thermoplastic Composite Pipe (TCP) – the m-pipe. The solution consisted of a custom-designed pallet to maintain m-pipe’s MBR (maximum bend radius), with a height to suit a 2x product packing arrangement. The pallet height and outer flange diameter had […]

Vintage Energy, 50% interest holder and Operator of ATP 2021 (other interest holders: Metgasco Ltd, 25%; and Bridgeport (Cooper Basin) Pty Ltd, 25%,) has announced that the Gas Sales Agreement (GSA) between the ATP 2021 Joint Venture parties and AGL Wholesale Gas Limited (AGL) is now unconditional following execution of a Vali Field Gas Processing […]