Seatrium expects more than S$50 million in annual cost savings after divesting non-core yards and marine assets, streamlining its offshore oil and gas portfolio by early 2026. SourceContinue Reading
ORLEN expands its Norwegian Continental Shelf footprint with new equity in Albuskjell and Vest Ekofisk, advancing the Ekofisk-area PPF project targeting first gas in 2028. SourceContinue Reading
Iraq approves agreement transferring West Qurna 2 field operations from Lukoil to Basra Oil Company, reshaping control of a 460,000-bpd upstream asset with 14 Bbbl in reserves. SourceContinue Reading
SOCAR and Gran Tierra Energy sign a production sharing agreement for exploration and development of a Guba-Caspian onshore block in Azerbaijan, with Gran Tierra as 65% operator. SourceContinue Reading
Pertamina and Halliburton sign an MOU to evaluate multi-stage hydraulic fracturing, acid stimulation and AI-driven drilling technologies aimed at revitalizing mature upstream fields in Indonesia. SourceContinue Reading
The African Energy Chamber will lead a delegation to Venezuela to explore upstream investment and strengthen oil and gas cooperation between African and Venezuelan energy stakeholders, as both regions seek to expand production and global partnerships. SourceContinue Reading
ConocoPhillips is evaluating a potential $2-billion sale of Permian basin assets in the Delaware basin as part of its broader portfolio streamlining and post-Marathon acquisition divestiture program, highlighting continued consolidation across the U.S. shale sector. SourceContinue Reading
U.S. House Republicans have launched an investigation into environmental groups over opposition to ConocoPhillips’ $9-billion Willow oil project in Alaska, a major North Slope development expected to produce about 600 million barrels of crude over its lifetime. SourceContinue Reading
Ecopetrol reported 1.94 Bboe in proved reserves at year-end 2025 and a 121% reserve replacement ratio, driven by enhanced recovery projects and improved field performance across key Colombian assets. The company’s average reserve life now stands at 7.8 years. SourceContinue Reading
Tullow Oil has signed a $205 million agreement to acquire the FPSO serving the TEN fields offshore Ghana, a move expected to reduce lease costs and improve long-term project economics on the Deepwater Tano block. SourceContinue Reading
