Month: August 2026

The NSTA and 17 North Sea operators have launched a joint effort to tackle a 500-well abandonment backlog, with greater use of vessels for subsea wellhead removals potentially cutting costs by 30%.

Metatek will conduct a 40,000-km² airborne geophysical survey across the Philippines’ Agusan-Davao Basin and Davao Gulf, the first stage of a broader exploration program ultimately covering roughly 120,000 km².

Diversified Energy has confirmed early-stage talks over a potential acquisition of Birch Resources, as the U.S. producer continues an acquisition strategy that has delivered 35 deals valued at more than $7 billion since 2017.

Shell has lost its bid to renew an offshore exploration right along South Africa’s Wild Coast after the country’s Constitutional Court ruled against the oil major in a five-year legal dispute.

Chevron has named upstream finance executive Uriel “Ose” Oseguera as its next treasurer, succeeding Navin Mahajan, who will retire after nearly 30 years with the company.

Indonesia Energy’s K-29 well has drilled past 2,500 ft and is approaching its targeted reservoir interval at the Kruh Block in Sumatra, with the company preparing to move next to the WK-5 well.

Petro-Victory Energy increased oil production 128% to 583 bpd during its first year at Capixaba Energia in Brazil while cutting production costs 37% and identifying new reservoir opportunities.

bp has awarded Emerson a multi-million-dollar automation contract for the $2.9 billion Shah Deniz Compression project offshore Azerbaijan, designed to unlock additional gas and condensate from the Caspian Sea field.

ABL and Baltic Maritime Broker have partnered to provide vessel assurance and marine risk services for offshore projects across the Baltic Sea, combining local brokerage expertise with ABL’s marine capabilities.

Saudi Arabia told OPEC it increased crude production by more than 1 MMbpd in July to 8.2 MMbpd, although output remains below pre-conflict levels as key Middle East export routes face continued disruption.