Ovintiv has entered into more than 60 transactions totaling approximately $460 million so far in 2026, adding about 41,000 net acres and 240 drilling locations across its Permian and Montney assets. The acquisitions are part of Ovintiv’s 2026 “ground game” program, which targets smaller transactions intended to expand and strengthen the company’s existing acreage positions. The 240 net locations include 190 base […]
Seatrium is preparing the P-80 and P-82 FPSOs to sail for Petrobras’ Búzios field offshore Brazil, where the two units will add a combined 450,000 bpd of oil production capacity. The FPSOs, which were christened Aug. 27 at Seatrium’s Tuas Boulevard Yard in Singapore, are expected to depart within weeks of each other for the Búzios field in the pre-salt Santos […]
TDI-Brooks has completed a geophysical and geotechnical survey for a marine cable route in Alaska’s Valdez Arm, deploying its Gravity CPT Stinger (gCPT) system on behalf of Woolpert. The project used the gCPT system to collect in-situ soil data along the proposed cable route. Designed for deployment in remote offshore environments, the system transports a piezocone penetrometer (PCPT) […]
As part of its broader plan for its Rovuma LNG project, ExxonMobil has earmarked USD 4 billion for local content, according to Álvaro Massingue, president of Mozambique’s Confederation of Economic Associations (CTA). This comes after ExxonMobil officially awarded USD 1.1 billion in contracts to a variety of firms for upstream equipment and early construction activities just last […]
Earlier this week, Chairman Masoud Suleiman of Libya’s National Oil Corporation (NOC) announced the signature of a production-sharing agreement with Chevron. The agreement formalises the results of Libya’s 2025 licensing round, its first oil and gas bid round since 2007. Shortly after an MoU was signed in January, Chevron was awarded onshore Contract Area 106 in Libya’s […]
Gas producer Energean (ENOG.L), opens new tab is in exclusive talks to buy some of BP’s (BP.L), opens new tab upstream oil and gas assets in Egypt, two people involved in the process told Reuters.The deal, which could raise about $1 billion for BP, includes its stakes in the producing offshore West Nile Delta assets, […]
Africa has emerged as the center of a global upstream acreage rush. That’s what Enverus Intelligence Research (EIR) said in a statement sent to Rigzone on Wednesday, which noted that the continent has captured nearly half of new upstream country entries globally “as operators broaden exploration portfolios”. EIR, which is a subsidiary of Enverus, highlighted […]
PETRONAS, the Employees Provident Fund (EPF) and the founding Lim family of Yinson Holdings Bhd (KL:YINSON) are in talks to take private the oil-and-gas firm, sources said. The three parties are forming a consortium to buy out Yinson that owns one of the world’s largest fleets of floating production storage offloading (FPSO) vessels, according to […]
Trump administration officials are working on a deal to secure long-term access to a portion of Venezuela’s crude reserves, sources with knowledge of the negotiations said on Thursday, a move that could ultimately lower the cost of oil imports. The agreement, which could be signed and made public soon, is expected to operate in a […]
Shell has received a number of bids for parts of its US chemicals business, including from ExxonMobil, LyondellBasell, private equity firm Apollo Global Management and the chemicals arm of Kuwait Petroleum Corporation, according to the Financial Times.