The contract is expected to begin in the second quarter of 2026 and run for about 350 days, with a total estimated value of $140 million, including a mobilization fee. The agreement also provides options for three additional wells.
Carnelian Energy Capital Management, L.P. has closed its Canada-focused Carnelian Acquisition and Development fund (CAD) at the hard cap of $600 million in limited partner commitments. The single-closing fund was oversubscribed, reflecting continued investor interest in upstream opportunities north of the border.
Murtaza Jariwala, CEO and managing director of Vanguard Engineering & Oilfield Services, talks to The Energy Year about the new opportunities that tariff changes have created for the company and local manufacturing in Oman. Vanguard is an Omani provider of engineering and oilfield services to the oil and gas, petrochemical and industrial sectors.
The shift concerns, first, the fact that alternative energy sources have added to rather than replaced oil and gas, and second, that “every major forecaster is revising scenarios, with oil and gas locked in for decades”, Nasser said, saying he hoped the outlook for long-term oil and gas investment had changed for the better.
Eni SpA said Thursday it had launched the authorization process for an Environmental Impact Assessment to build a biorefinery and a chemical recycling plant in Sicily, after receiving approval from Italy’s Environment and Energy Security Ministry.
Vucic had been seeking a three-year contract with Gazprom, following two meetings this year with Russian President Vladimir Putin. Speaking to the tabloid Informer, he suggested the delay was linked to US sanctions on oil refiner Naftna Industrija Srbije that came into full effect earlier this month after several temporary waivers expired.
Prospective gas resources in the unrisked best estimate scenario have risen 3.7 percent from 2.75 trillion cubic feet (Tcf) to 2.86 Tcf while unrisked best-estimate prospective oil resources have increased 81 percent from 43 million barrels to 78 million barrels, the Sydney-based company said in a stock filing.
Eni and state-owned Argentine energy company YPF have signed the Final Technical Project Description (FTPD) for the liquefaction segment of the integrated upstream-midstream Argentina LNG (ARGLNG) project, Eni announced on Friday.
Petro Rabigh’s overhaul aims to improve the plant’s operational reliability and includes asset upgrades to boost the output of higher-margin products. Aramco and Sumitomo will inject USD 1.4 billion through a Class B share issuance to reinforce Petro Rabigh’s balance sheet and help prepay outstanding debt.
The rise in crude imports was accompanied by an increase in refinery processing rates to 81.05%, which was the highest since the start of the year for state refiners. Independents, commonly called teapots by the media, also raised their utilization rate, to some 62%.