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Latest news about Oil and gas Industries-28.02.25
On February 24, 2025 Saipem and Subsea7 signed a memorandum of understanding (MoU) for a potential mega-merger, with the combined entity to be renamed Saipem7. The merger, expected to close in the second half of 2026, is projected to deliver annual synergies of approximately €300 million by the third year and is valued at around $4.6 billion. The deal will combine the companies' complementary geographical footprints, capabilities, vessel fleets, and technologie... Read More
Latest news about Oil and gas Industry
On February 17, 2025 bp announced the start of production from the second phase of the Raven field, part of the West Nile Delta (WND) project offshore Egypt. This phase involves the subsea tieback of additional infill wells to existing onshore infrastructure, with bp holding an 82.75% stake as the operator and Harbour Energy owning the remaining 17.25%. The new wells are expected to produce approximately 220 billion cubic feet of gas and 7 million barrels of condens... Read More
Latest news about Oil and gas Industries
On February 11, 2025 Equatorial Guinea revitalized its upstream sector by planning a new licensing round in 2025 to boost exploration and production, ensuring long-term energy security and revenue generation amid declining output from mature fields. Under Minister Antonio Oburu Ondo’s leadership, the country aims to attract investment, new technologies, and opportunities for local and international players, building on the success of its 2019 round, which saw ... Read More
NOIA Applauds U.S. Secretary Burgum's Visionary Approach to Offshore Energy Development
On February 5, 2025, The National Ocean Industries Association expressed its strong support for the series of Secretarial Orders signed by Secretary Doug Burgum to unleash America's energy potential. NOIA President Erik Milito made the following statement: "NOIA strongly supports Secretary Doug Burgum’s decisive actions to strengthen American energy security, reinforce national security, and unleash the full potential of the U.S. offshore energy industry. The... Read More
Murphy Oil's Exploration Well Offshore Vietnam Unveils Promising Oil Discovery
On January 8, 2025, Murphy Oil announced that its subsidiary has drilled an oil discovery at the Hai Su Vang-1X exploration well in Block 15-2/17 in the Cuu Long Basin, located 40 miles offshore Vietnam. The well was drilled to total depth of 13,124 feet in 149 feet of water. Hai Su Vang-1X encountered approximately 370 feet of net oil pay from two reservoirs. Additional evaluation is ongoing and future appraisal drilling will be conducted. Hai Su Vang is one of m... Read More