Oil dipped on signs that war-driven market tightness may still persist even as some supply disruptions in the Middle East ease. Global benchmark Brent fell 1% to settle under $105 a barrel, while West Texas Intermediate dipped 0.5% to settle near $102. Saudi Arabia is seeking to return about half the capacity of its key […]
DNO ASA has revised its proposed acquisition of Capricorn Energy plc to an all-cash offer, replacing the structure of the transaction originally announced Sept. 1. Under the revised terms, Capricorn shareholders will be entitled to receive the full acquisition value in cash from DNO Bidco AS, the companies said Sept. 17. DNO, DNO Bidco and […]
California Resources Corp. (CRC) has agreed to sell its Uinta basin assets to an undisclosed buyer for approximately $90 million in cash, further concentrating the company’s upstream portfolio in California. The assets were acquired through CRC’s merger with Berry Corp. and are considered non-core to the company’s operations. The transaction has an effective date of […]
Strikes on Qatar’s North Field and Iran’s South Pars have disrupted operations across the world’s largest gas resource, with about 4.5 Bcfd of Qatari gas-processing capacity affected and repairs potentially taking up to a year, according to Wood Mackenzie. North Field and South Pars form a single supergiant gas structure spanning roughly 9,000 sq km […]
Zupt is mobilizing its 3D Recon V2 subsea imaging system for an inspection campaign in the U.S. Gulf, where the technology will generate high-resolution 3D models to support subsea asset integrity assessments. The deployment follows completion of system integration testing. Ahead of offshore operations, Zupt completed trajectory evaluations, data volume and operational time estimates, and […]
CoreMarine has completed the acquisition of Brazilian offshore services company BravOcean, expanding its subsea construction and project delivery capabilities in Brazil’s deepwater market. BravOcean provides subsea installation support, project management services and specialist personnel for complex deepwater subsea, umbilicals, risers and flowlines (SURF) projects in Brazil. CoreMarine said the acquisition will combine BravOcean’s local presence […]
Denholm Pipetech has expanded its Norwegian operations with a new facility and more than NOK 6 million in equipment and upgrades aimed at supporting oil and gas activity across the Norwegian Continental Shelf (NCS) and North Sea. The flow remediation specialist has moved into a 950-sq-m facility in Sandnes featuring six offices, workshop facilities and […]
Petrobras has signed production-sharing contracts (PSCs) for eight offshore exploration blocks in Côte d’Ivoire, establishing a significant operated position along the African Atlantic margin. The agreements cover blocks CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Petrobras, through wholly owned subsidiary Petrobras Netherlands B.V. (PNBV), will operate the blocks with a 90% interest, while […]
Continental Resources has signed a memorandum of understanding (MOU) with Venezuela’s state-owned PDVSA to operate and develop the Ayacucho 2 block in the Orinoco Oil Belt, marking the U.S. independent’s entry into Venezuela. The 126,000-acre block in Anzoátegui state is estimated by Continental to contain approximately 30 billion barrels of oil resource in place. Continental […]
Petrobras has awarded Strohm B.V. and its Brazilian subsidiary a contract to supply thermoplastic composite pipe (TCP) for water injection and gas lift applications in Brazil’s deepwater post-salt province. The TCP will be deployed in water depths of up to 1,500 meters. The contract also covers qualification testing, project engineering, field services and support […]