Industry News
Latest updates on Cyprus and Eastern Mediterranean oil & gas sector.
Shell hires Subsea7 for deepwater development offshore Louisiana
Subsea7 has been awarded a contract by Shell for a deepwater development located some […] The post Shell hires Subsea7 for deepwater development offshore Louisiana appeared first on Offshore Energy.
Brent Settles Above 70 as Iran Tensions Rise
Brent topped 70 and WTI climbed above 65 amid fears of supply disruption in the Strait of Hormuz.
VEN Leader Pressed From All Sides Over Oil Plans
Venezuela's interim leader is playing to three different audiences with her plans for Venezuela's oil sector.
USA Crude Oil Stocks Drop Week on Week
Crude oil stocks, not including the SPR, stood at 423.8 million barrels on January 23, according to the EIA's latest weekly petroleum status report.
Rystad Expects Lower Upstream M&A Activity in 2026
'Timing and execution will determine whether several mega deals will go through', Rystad Energy said.
OKEA Makes New Discovery in Brage
OKEA and its partners discovered more hydrocarbon deposits in the producing Brage field on Norway's side of the North Sea.
Kirkland & Ellis leads M&A legal advice in oil and gas for 2025
Kirkland & Ellis was the top legal adviser in the oil and gas sector mergers and acquisitions (M&A) in 2025, both in terms of deal value and volume, based on a league table from data analytics company GlobalData.
OKEA makes petroleum discovery in North Sea’s Barge field
OKEA and its partners have announced the petroleum discovery in the Norwegian North Sea’s “Knockando Fensfjord” prospect, identified through development well 31/4-A-15 D from the Brage installation.
Denmark, Germany Ink Agreement on Bornholm Energy Island
The governments of Germany and Denmark said they have paved a new regulatory ground with the signing of an agreement for a cross-border project that will connect several wind farms via a single hub on the Danish island of Bornholm in the Baltic Sea.
SLB wins two contracts from PDO for Oman’s Block-6
SLB has secured two contracts spanning five years from Petroleum Development Oman (PDO) to provide wellheads and artificial lift technologies for Block-6, the largest oil and gas concession in Oman.
GeoPark renews oil offtake deal with Vitol in Colombia
GeoPark has renewed the offtake and prepayment agreement with Vitol to supply all its crude oil production from Colombia’s Llanos basin.
Borr Drilling completes acquisition of five rigs from Noble for $260m
Borr Drilling has finalised the acquisition of five premium jack-up rigs from offshore drilling contractor Noble for a total of 60m.