(World Oil)– U.S. offshore oil and gas development took a major step forward this week as the Department of the Interior (DOI) unveiled a draft five-year federal leasing program that opens the door to the most expansive Outer Continental Shelf (OCS) acreage offered in more than a decade. The proposal, covering 2026–2031, includes up to 34 potential lease sales across
(World Oil)– Transocean has secured approximately $89 million in new firm backlog after operators in Brazil, Norway and Romania exercised contract options on three of its floating rigs, the company announced. In Brazil, Petrobras exercised a 90-day option on the Deepwater Mykonos, continuing the ultra-deepwater drillship directly into its next campaign. The extension is expected to contribute about $33 million to backlog.
(World Oil) – Namibia plans to consolidate control of its petroleum sector under the office of the presidency, as the southern African nation edges toward becoming an oil producer. The move is part of a proposed amendment to the Petroleum Act, Defense and Veterans Affairs Minister Frans Kapofi — who is also serving as Minister of Industries, Mines and Energy —
(Oil Price)– ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea. ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor will buy 60% in the Block 2 concession in the northwestern Ionian Sea, next to the Italian Exclusive Economic Zone (EEZ), Energean said on
(World Oil)– Aker Solutions has secured a five-year brownfield services contract extension from ExxonMobil Canada Properties, as operator of the Hebron platform offshore Newfoundland and Labrador. The agreement covers continued maintenance and modification (M&M) services and will be booked as an order intake in the fourth quarter of 2025 under the company’s Life Cycle segment. Hebron offshore platform The brownfield
(BOE Report)– Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its third-quarter 2025 financial and operating results. The company generated approximately $2.1 billion in cash from operating activities, $2.5 billion of adjusted funds flow and $1.3 billion of free funds flow. Operating results in the quarter included record Upstream production of 832,900 barrels of oil equivalent per day (BOE/d)1 and record
(World Oil)– Aker BP has reported strong operational and financial performance in its latest quarterly results, underscoring stable production, disciplined cost management, and a breakthrough exploration success on the Norwegian Continental Shelf (NCS). Production averaged 414,000 boed, maintaining high uptime and efficiency across the company’s offshore portfolio. Supported by minimal unplanned downtime and robust field performance, Aker BP has raised
(World Oil)– Equinor and its partners have achieved first oil from the Bacalhau field in Brazil’s Santos basin, marking a major milestone for one of the largest deepwater developments in the world. The project represents Equinor’s biggest international offshore investment, with recoverable reserves exceeding 1 billion barrels of oil equivalent (boe) and peak production capacity of 220,000 barrels per day
(World Oil)– Halliburton has been awarded multiple deepwater contracts by Petrobras to deliver vessel stimulation, intelligent completions, and safety valve systems across key offshore fields in Brazil, following a competitive tender process. Under the new agreements, Halliburton will deploy its SmartWell® intelligent completion technology in the Búzios field to enable real-time reservoir management and enhance production optimization. The company will
(World Oil)– Valeura Energy Inc. reported higher production and continued growth across its Thailand portfolio in the third quarter, driven by a ten-well drilling campaign at the Nong Yao field on block G11/48 in the Gulf of Thailand. The campaign lifted Valeura’s working interest oil production to 24,800 bpd by quarter-end, up from an average of 23,000 bpd in Q3,
(World Oil)– Eni SpA gave financial approval to build a $7.2 billion floating liquefied natural gas project in Mozambique that will double the nation’s production of the fuel, adding to global supply just as a wave of new production hits later this decade. The Coral Norte project off Mozambique’s northern coastline will be able to produce 3.6 million tons of
(World Oil)– EnerMech has won a significant contract to provide subsea pre-commissioning and specialist services for a major offshore gas development in Australia’s East Browse basin. The work will support the second phase of the project’s installation campaign, scheduled between October 2025 and April 2026. The contract scope includes riser and umbilical services such as flooding, top-up, and leak testing
