Month: October 2026

Borr Drilling will divest its 51% stake in Mexican joint venture Perfomex while retaining ownership of three jackup rigs operating under Pemex contracts through 2028 and 2030.

Thailand has approved Valeura Energy’s farm-in for a 40% interest in two PTTEP blocks in the Gulf of Thailand, advancing plans for further offshore exploration and development.

Halliburton has won a multi-year contract from Eni to provide integrated drilling, well construction and completions services for the Cronos ultra-deepwater gas development offshore Cyprus.

TotalEnergies and Mistral are investing more than $115 million to develop advanced AI models aimed at improving oil and gas exploration, reservoir analysis and field development decisions.

Fulkrum has won an inspection services contract covering Vår Energi’s NCS project portfolio, with work already underway on three subsea developments in the Gjøa area.

Saipem has won a $350 million contract from Azule Energy to install 62 km of subsea infrastructure tied to the Agogo FPSO in water depths reaching 1,750 meters offshore Angola.

PETRONAS will supply Greece’s METLEN with six LNG cargoes annually under a five-year agreement beginning in 2027, expanding the Malaysian company’s LNG presence in Europe and the Mediterranean.

Wood has won a five-year, $200 million contract from ExxonMobil PNG covering construction services across the PNG LNG project’s gas processing, pipeline, well pad and LNG infrastructure.

Venezuelan energy officials are heading to the G20 energy summit in Houston as the U.S. seeks additional oil investment and deals aimed at expanding the country’s crude production.

Brent crude posted its biggest weekly gain since July despite a 2.8% Friday decline, as Saudi Arabia’s East-West pipeline shutdown and escalating Middle East hostilities heightened oil supply risks.