Transocean has secured approximately $185 million in new contract backlog after winning offshore drilling work for the Transocean Norge in Norway and the Transocean Equinox in Australia, extending utilization of its harsh-environment semisubmersible fleet. SourceContinue Reading
Iraq is preparing to increase crude exports from its southern ports as a U.S.-Iran agreement to reopen the Strait of Hormuz approaches, with state marketer SOMO coordinating tanker nominations and export logistics ahead of a gradual recovery in Gulf oil flows. SourceContinue Reading
MOL Group, Repsol and TPAO have signed a production sharing agreement for Libya’s offshore O7 block in the Mediterranean Sea, advancing plans for seismic acquisition and deepwater exploration drilling in the North African country. SourceContinue Reading
Chevron has acquired a 70% stake and operatorship in Greece’s offshore Block 10 concession, expanding its Eastern Mediterranean exploration portfolio and strengthening its partnership with HELLENiQ ENERGY. SourceContinue Reading
ADNOC has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity. SourceContinue Reading
Aker BP is expanding deployment of AI-powered computer vision technology across its offshore drilling fleet, using DrillDocs’ CleanSight system to improve drilling efficiency, identify wellbore instability and reduce nonproductive time. SourceContinue Reading
Brent crude fell below $80/bbl for the first time in more than three months as markets priced in increased oil supply following the U.S.-Iran agreement to reopen the Strait of Hormuz. Analysts lowered price forecasts as expectations grew for a recovery in Persian Gulf exports. SourceContinue Reading
Equinor has outlined plans to increase production to 2.3 MMboed by 2030, supported by higher investment in oil and gas projects, expanded activity on the Norwegian Continental Shelf and 30% growth in international production. SourceContinue Reading
International Petroleum Corp. has achieved first oil at its Blackrod Phase 1 thermal oil sands project in Alberta, with production beginning ahead of schedule and on budget. The project is expected to reach its 30,000-bopd plateau rate by late 2027. SourceContinue Reading
Kent has been awarded a construction management services contract by Cabinda Gulf Oil Company (CABGOC) in Angola, covering field execution support, construction supervision and project coordination across the operator’s offshore and onshore operations. SourceContinue Reading
