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Halliburton, PETRONAS, Valaris Collaborate on Suriname Offshore Development

Halliburton, PETRONAS, Valaris Collaborate on Suriname Offshore Development

Halliburton, PETRONAS, Valaris Collaborate on Suriname Offshore Development
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Oil India Increases Crude Production in Rajasthan Amid Global Tensions

Oil India Increases Crude Production in Rajasthan Amid Global Tensions

Oil India Ltd has significantly increased its crude oil production from the Thar desert in Rajasthan, achieving a record output of 1,202 barrels per day from the Jodhpur sandstone formation. This marks a 70% increase from the previous year's production of 705 barrels per day. The company attributes this success to the deployment of advanced recovery techniques, including Cyclic Steam Stimulation (CSS), which is a thermal enhanced oil recovery method used for extracting high-viscosity crude. The Baghewala oil field, located in the Bikaner-Nagaur sub-basin, is one of the few onshore heavy oil fields in India. Oil India has completed CSS operations in 19 wells, a 72% increase from the previous year, and drilled 13 new wells. The crude oil produced is transported to ONGC facilities in Gujarat and then sent via pipeline to the Koyali refinery operated by Indian Oil Corporation Ltd.
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Masirah Oil to Launch Three-Well Drilling Program at Oman's Yumna Field

Masirah Oil to Launch Three-Well Drilling Program at Oman's Yumna Field

Masirah Oil to Launch Three-Well Drilling Program at Oman's Yumna Field
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Lion Energy Contracts Rig for Bula Karang-1 Well in Indonesia, Aiming to Tap Oil Resources

Lion Energy Contracts Rig for Bula Karang-1 Well in Indonesia, Aiming to Tap Oil Resources

Lion Energy Contracts Rig for Bula Karang-1 Well in Indonesia, Aiming to Tap Oil Resources
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Valaris Secures $447 Million Petrobras Extension for Brazil Deepwater Drillship, Ensuring Long-Term Demand

Valaris Secures $447 Million Petrobras Extension for Brazil Deepwater Drillship, Ensuring Long-Term Demand

Valaris Secures $447 Million Petrobras Extension for Brazil Deepwater Drillship, Ensuring Long-Term Demand
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Lion Energy Advances Oil Exploration with Rig Contract in Indonesia

Lion Energy Advances Oil Exploration with Rig Contract in Indonesia

Lion Energy has secured a contract with Silver City Drilling for the SCD-20 rig to drill the Bula Karang-1 exploration well in Indonesia's East Seram production sharing contract. This marks a significant step in the company's exploration activities in the region. The well is expected to spud in mid-2026 and aims to target oil resources in the East Seram block. Designed as a deviated well, Bula Karang-1 will test offshore structures from an onshore location, which is intended to reduce development costs while accessing potential reservoirs. The prospect is estimated to contain approximately 12 million barrels of oil, with drilling anticipated to provide further insights into the block's resource potential.
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Lion Energy Advances Oil Exploration with New Rig in Indonesia

Lion Energy Advances Oil Exploration with New Rig in Indonesia

Lion Energy Advances Oil Exploration with New Rig in Indonesia
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Valaris Secures $447 Million Petrobras Extension for Brazil Deepwater Drillship

Valaris Secures $447 Million Petrobras Extension for Brazil Deepwater Drillship

Valaris Secures $447 Million Petrobras Extension for Brazil Deepwater Drillship
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Russia's Yamal LNG Faces Logistical Challenges in Shift to Asian Markets Amid Middle East Conflict

Russia's Yamal LNG Faces Logistical Challenges in Shift to Asian Markets Amid Middle East Conflict

Russia's Yamal LNG project is encountering significant logistical challenges as it attempts to redirect its liquefied natural gas exports from Europe to Asia. This shift comes in response to the European Union's decision to ban Russian LNG imports starting in January 2027. Currently, the majority of Yamal LNG shipments are destined for European ports, with France and Belgium being the primary recipients. However, the ongoing conflict in the Middle East has complicated this dynamic, as Europe remains the largest customer for Yamal LNG. In February, all Yamal LNG exports were directed to Europe, with no shipments to Asia, highlighting the logistical hurdles Russia faces in pivoting to Asian markets. The Center for High North Logistics in Norway has identified that the existing Russian LNG fleet, which includes various classes of ice-capable vessels, will struggle to maintain current export volumes if shipments are redirected to Asia due to longer distances and limited navigation options during winter months.
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Novatek Launches Vessel Construction Company to Tackle Global Tanker Shortage

Novatek Launches Vessel Construction Company to Tackle Global Tanker Shortage

Novatek, Russia's leading liquefied natural gas (LNG) producer, has established a new company, Severny Inzhiniring, to build its own vessels and floating facilities. This move comes in response to a global shortage of gas tankers, exacerbated by Western sanctions imposed in 2022. These sanctions have limited Russia's access to ice-class tankers necessary for transporting LNG cargos. The new company, led by Ilya Lushchikov, aims to ensure the continued operation of Novatek's LNG projects, particularly the Arctic LNG 2 plant, which requires specialized Arc7 ice-class tankers. Currently, only one such tanker has been delivered by Zvezda, Russia's advanced shipbuilder, with plans to construct 15 more.
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Weatherford International to Relocate Legal Domicile to Texas for Structural Streamlining

Weatherford International to Relocate Legal Domicile to Texas for Structural Streamlining

Weatherford International to Relocate Legal Domicile to Texas for Structural Streamlining
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Latin America's Offshore Drilling Gains Momentum Amid Middle East Instability

Latin America's Offshore Drilling Gains Momentum Amid Middle East Instability

Latin America's offshore drilling industry is gaining traction as geopolitical risks in the Middle East prompt a shift in focus. Constellation Oil Services Holding SA, a major supplier of deep-water drilling rigs, has extended contracts with Brazil's Petrobras and is optimistic about exploration prospects in regions like the Equatorial Margin and Pelotas Basin. The CEO of Constellation, Rodrigo Ribeiro, highlights Brazil as a leading market for offshore drilling due to its stable geopolitical environment and high-quality reserves. The company, which recently listed shares in Oslo, plans to distribute $25 million in dividends, reflecting confidence in the region's potential.