Petroliam Nasional Bhd has expanded its footprint offshore Suriname to eight exploration blocks with the signing of two new production sharing contracts (PSCs).
The NOIA ESG Excellence Award highlights companies that demonstrate outstanding performance in environmental stewardship, social responsibility, and governance. Baker Hughes was honored for its data-driven approach to reducing emissions, expanding remote operations, and integrating sustainability across its global offshore operations.
Vår Energi ASA reported strong third-quarter 2025 results, highlighted by accelerated project delivery and rising production from key developments on the Norwegian Continental Shelf. The company said seven of nine new growth projects scheduled for 2025 start-up are already on stream, positioning Vår Energi ahead of schedule in its transformation plan.
“The initial exploration well recorded the highest production rate from a vertical well in the Minagish formation in Kuwait’s history,” KOC said in a statement on Monday. The company has made similar announcements for oil and gas offshore discoveries since last year.
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.
The drilling campaign will target five wells at depths between 300 and 1,500 metres and is scheduled to begin in 2026. Any resulting production will be routed to BP’s existing infrastructure in the West Nile Delta.
Expro has set a world record by deploying the heaviest casing string to date, using its Blackhawk® Gen III Wireless Top Drive Cement Head with SKYHOOK® technology. The record was achieved on a significant project in the Gulf of America/Gulf of Mexico for a super major.
Portugal’s Galp Energia has begun receiving offers for its massive Mopane oil discovery off Namibia’s coast, signaling that one of Africa’s most promising new hydrocarbon frontiers could be edging closer to commercial production. The company told investors earlier this month it’s in advanced talks with potential buyers and expects to announce a sale later this year. Galp controls an 80% stake in Mopane and, according to Bloomberg, is preparing for a development that could involve two floating production storage and offloading (FPSO) units, each pumping around 120,000 barrels a day.
In Block 32, TotalEnergies, with a 30 percent operating ownership, said 2024 it would continue drilling development wells through the third quarter of 2025 including three infill wells of Kari Phase 1. It said it was assessing potential additional developments in discoveries in the central and northern areas of the block. Block 32 is already in production through FPSOs Kaombo Norte and Kaombo Sul.
Earlier this year, the Trinidad and Tobago government announced plans to tender 26 offshore blocks along its eastern and northern coast. The deadline for submissions was July 2, and the winning bids will be announced in three months. The blocks subject to that tender, however, do not include the seven blocks that Exxon is in talks about, Reuters noted in its report.