The combined entity will be owned by Repsol E&P Group (45%) and NEO UK (55%) and is positioned to become one of the largest producers in the UK Continental Shelf with output of approximately 130,000 boepd in 2025, according to the companies’ projections.
Consolidating operatorship of the Bass Strait assets into Woodside’s operated portfolio strengthens Woodside’s footprint in Australia and reflects Woodside’s long history of operating excellence.
Petrobras posted a 5% rise in oil and gas production in Q2 2025 compared to Q1, a performance the company attributes to the ramp-up of several FPSOs.
Ecuador’s oil production has plunged to multi-year lows after heavy rains and erosion caused the shutdown of the two largest crude pipelines, potentially costing the country as much as $300 million in lost revenue.
Brazil’s crude oil exports to the U.S. are facing an uncertain future as Washington prepares to impose sweeping 50% tariffs on Brazilian imports starting August 1—up from the current 10%. While it remains unclear whether crude oil will be included in the list, analysts and industry groups are already warning of major disruptions.
Tullow Oil plc (Tullow) is pleased to announce that it has successfully completed the sale of its assets in Gabon to the Gabon Oil Company (GOC) following satisfaction of all conditions precedent under the Sale and Purchase Agreement (SPA), with the full proceeds now received by Tullow.
Yinson Production, via its joint venture PTSC South East Asia (PTSC SEA), has secured a lease and operate contract for a new floating storage and offloading (FSO) unit for Vietnam’s offshore Block B gas development.
Japan’s MODEC has delivered a structure that will form part of a floating production storage and offloading (FPSO) unit to be deployed to a project offshore Guyana operated by ExxonMobil, a U.S.-headquartered oil and gas giant.
Africa is on the brink of a significant investment surge in its oil and gas sectors, with a series of licensing rounds slated for the 2024/2025 period. According to the African Energy Chamber’s State of African Energy 2025 Outlook Report, these initiatives aim to unlock untapped energy potential and stimulate long-term economic growth.
Namibia is aiming to raise local content and carried participation in the oil and gas sector from 10 percent to 15 percent by 2030, as the country prepares to leverage its petroleum discoveries for national development. In the next five years, the government of Namibia plans to increase carried participation from 10% to 15%.