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Latest news about Oil and gas Industries-29.08.25
On August 27, 2025 The United Arab Emirates' largest oil producer, Abu Dhabi National Oil Co. (ADNOC), has signed a binding 15-year agreement to supply liquefied natural gas (LNG) to India's state-run Indian Oil Corp. The deal, which follows a preliminary pact from September, will see ADNOC provide 1 million metric tons per year (MMtpa), primarily from its new under-construction export terminal in Ruwais. This is in addition to a separate existing deal to supply 1.2 MMtpa from its Das Island operations. Combined, these agreements will make Indian Oil ADNOC's biggest LNG customer by 2029.
The Ruwais project, which is central to this deal, is expected to more than double ADNOC's LNG capacity to 15 MMtpa when it begins commercial operations in 2028. The company has already committed over 8 MMtpa of the project's 9.6 MMtpa capacity to international buyers through long-term contracts. For India, this supply supports its strategic goal to increase the share of natural gas in its energy mix. Furthermore, ADNOC Gas Plc is expected to acquire its parent company's 60% stake in the Ruwais project in the latter half of 2028.
Visit: https://worldoil.com/news/2025/8/27/adnoc-enters-15-year-lng-supply-deal-with-indianoil/
On August 27, 2025 Subsea7 secured a major contract from the Turkish Petroleum Offshore Technology Center (TP-OTC) for the third phase of the Sakarya gas field development in the Black Sea. The agreement covers the engineering, procurement, construction, and installation (EPCI) of subsea umbilicals, risers, and flowlines (SURF). Project management and engineering will be handled from the company's office in Istanbul, commencing immediately.
Company executives stated that this award strengthens Subsea7's relationship with TP-OTC and underscores its expertise in delivering complex offshore projects. It reinforces the company's commitment to supporting Türkiye’s strategic energy goals and its vision for energy independence, while also highlighting the dedication of the local team and a focus on safe, efficient operations.
Visit: https://worldoil.com/news/2025/8/27/subsea7-wins-major-contract-for-offshore-turkiye-gas-field-development/
On August 26, 2025, Zephyr Energy finalized a $7.3 million acquisition of producing oil and gas assets in the Rocky Mountains, effective June 1, 2025. The deal includes mature, cash-flowing wells as well as near-term development opportunities and additional acreage. The assets are projected to add approximately 388 barrels of oil equivalent per day (boed) to Zephyr's production.
Concurrently, the company divested a small package of the newly acquired wells for $1.5 million. The acquisition also provides 18 new investment opportunities for Zephyr's $100 million strategic partnership, Zephyr Hawk LLC. CEO Colin Harrington stated the deal enhances the company's geographical footprint in key regions like the Powder River and Williston Basins, adding high-margin production and proved reserves.
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