Offshore project commitments are expected to not only recover going forward, but their number is also set to reach a new record in the five-year period towards 2025, cumulatively almost 600 projects, a Rystad Energy report shows. Deepwater commitments will enjoy the largest growth as their cost has now become much more competitive against greenfield […]

Equinor has announced that the partners in the Åsgard licence have decided to invest just under NOK 1.4 billion to further develop the field and implement the Åsgard B low-pressure project. “We’re pleased that the Åsgard owners have given their go-ahead for the low-pressure project. The project will increase production from the current Smørbukk wells […]

Qatar Petroleum has awarded a major engineering, procurement, and construction (EPC) contract to Samsung C&T Corporation for the expansion of the LNG storage and loading facilities located within the Ras Laffan Industrial City as part of the North Field East (NFE) project. The Minister of State for Energy Affairs and President and CEO of Qatar […]

Baker Hughes   and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s wholly owned subsidiary, MHWirth AS (MHWirth). The Company will deliver global full-service offshore drilling equipment offering that will provide customers with a broad portfolio of products and services. The […]

Masirah Oil has announced the spudding of Zakhera 1 well on 21 February 2021, which is being drilled by the Shelf Drilling Tenacious jack-up rig that has been moved from the Yumna Field, following the completion of the two new additional production wells, Yumna 2 and Yumna 3. The Zakhera prospect is located about 12 […]

Ocean Infinity and MMT have announced an acquisition that brings together MMT’s deep expertise and established track record as a distinguished marine survey and data analytics provider and Ocean Infinity’s best-in-class robotic technology and operational expertise. The combined force will maximise the potential of Ocean Infinity’s fleet of Autonomous Underwater Vehicles (AUVs), and the soon […]

NEO Energy and HitecVision have announced the signing of a transaction that puts NEO Energy among the top five oil and gas companies in the UK. NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil. Following completion, NEO’s expected proforma 2021 production […]

Exxon Mobil Corporation said today that Michael Angelakis and Jeffrey Ubben have joined its board of directors.  Angelakis is chairman and CEO of Atairos, an independent strategic investment company focused on supporting growth-oriented businesses across a range of industries. Prior to founding Atairos, he served as Comcast Corporation’s vice chairman and chief financial officer. In […]

The exploration well Thameen-1 on Block 49 onshore the Sultanate of Oman has drilled to its final total depth and wireline logging operations have been completed. The well has encountered hydrocarbon shows in the primary target, the Hasirah Sandstone. The next step in evaluating the well is to commence a well testing programme in an […]

Autodesk has signed a definitive agreement to acquire Portland, Oregon-based Innovyze, a global leader in water infrastructure software, for USD 1 billion net of cash subject to working capital and tax closing adjustments. The acquisition positions Autodesk as a technology leader in end-to-end water infrastructure solutions from design to operations, accelerates Autodesk’s digital twin strategy, […]