Month: October 2026

Sir Ian Wood, the visionary entrepreneur who built Wood Group into a global engineering leader and helped shape the North Sea oil and gas industry, has died at the age of 84, leaving a legacy that continues to influence offshore energy and UK regulation.

Expro has completed its acquisition of Enhanced Drilling, adding managed pressure drilling (MPD) and riserless mud recovery (RMR) technologies to expand its offshore well construction capabilities and strengthen support for complex drilling projects worldwide.

Kuwait Oil Company has secured a landmark $16 billion infrastructure partnership that will generate nearly $8 billion to help fund upstream growth, supporting the country’s strategy to expand crude oil production capacity to 4 MMbpd by 2035.

Vitol has agreed to sell its U.S. upstream company, VTX Energy Partners, LLC, to Houston-based Verde Operating Company, LLC, for an undisclosed amount, the companies announced.

Kazakhstan is considering pursuing the international partners in the Kashagan oil field directly to collect a disputed $5 billion environmental fine tied to sulfur storage, as the operator continues to challenge the penalty through international arbitration.

SLB reported stronger second-quarter revenue as international offshore growth offset continued Middle East disruptions, with deepwater activity, production systems and digital technologies driving momentum heading into 2027.

Petrobras’ P-52 offshore production platform remains offline following a gas leak discovered last year, with the company still evaluating restart options for the Roncador field asset in Brazil’s Campos basin after safety concerns identified degraded gas-lift risers.

Horizon Petroleum has begun operations to re-enter, stimulate and production test the Lachowice-7 gas well in southern Poland, advancing development of the Lachowice gas accumulation, which contains 34 Bcf of 2P reserves and significant contingent resources.

Evolution Well Services has secured a two-year contract extension to continue providing electric hydraulic fracturing services to an independent U.S. shale operator, reinforcing demand for electric-powered completion technologies and long-term development partnerships.

Matador Resources will acquire Paloma Permian for $1.28 billion, adding more than 16,000 net acres in the Delaware basin, while reporting strong initial results from its first Woodford exploration well in southeast New Mexico.