Navitas Petroleum has signed a non-binding agreement to farm into an offshore exploration license in the North Falklands Basin adjacent to its recently sanctioned Sea Lion oil development, as the operator advances plans to expand its footprint in the region…
OceanMight, a subsidiary of KKB Engineering, has secured a contract from Petronas for construction services at greenfield development project offshore Malaysia.The letter of award signed by the companies is for the provision of minor engineering…
Oil major Chevron Corp, global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter.The competition reflects a desire by…
Vantris Energy Berhad said it has been awarded offshore transportation and installation work orders in Malaysia by Petronas Carigali under existing long-term contracts.The awards were secured by Sapura Offshore, an indirect wholly owned subsidiary of Vantris Energy…
U.S subsea equipment and services provider for oil and gas sector KOIL Energy has secured a manufacturing contract with an international offshore installation company.The scope of work includes engineering, procurement, and fabrication of major…
State-owned Petrovietnam Gas has awarded its first-ever term supply tender seeking liquefied natural gas (LNG) to energy major Shell, which will deliver the super-chilled fuel to Vietnam from 2027 to 2031.The five-year supply deal will see Shell deliver about 400…
Shell has agreed to buy stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola from Chevron, the European energy major said on Tuesday.European oil majors have said they will spend billions in Angola, Sub-Saharan Africa's second-largest crude oil producer after Nigeria…
French offshore marine services company Bourbon has completed a financial and capital restructuring, with Davidson Kempner Capital Management LP and Fortress Investment Group becoming its majority shareholders.The restructuring marks the start…
Chevron has delivered first oil from its South N’dola platform offshore Angola, marking a major project milestone just over two years after construction began.Located in Block 0, which accounts for around 12% of Angola’s daily energy output…
While challenges linger from the 2025 offshore rig market, there are signs it will look brighter from late 2026 onwards.Main Events of 2025One of the biggest talking points of 2024 and 2025 was Saudi Aramco’s suspension of 36 jackups from April 2024…
Throughout 2025 we have seen the subsea vessel market transitioning from a period of record highs towards a more cautious, but still fundamentally strong, outlook. While short-term activity and rates have softened in the latter part of the year…
Nigerian President Bola Tinubu has approved the cancellation of $1.42 billion and 5.57 trillion naira ($3.85 billion) in debts owed by state oil firm NNPC Ltd to the government, the presidency said on Monday.The decision is part of Tinubu's…
