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SLB OneSubsea and Subsea7 Partner with PETRONAS Suriname to Advance Subsea Oil and Gas Development

SLB OneSubsea and Subsea7 Partner with PETRONAS Suriname to Advance Subsea Oil and Gas Development

SLB OneSubsea and Subsea7 have entered into a strategic collaboration agreement with PETRONAS Suriname E&P B.V. to accelerate the development of subsea oil and gas resources in Suriname's frontier basin. This partnership aims to leverage innovative and cost-effective subsea solutions to unlock resources in the region. The agreement establishes a framework for long-term collaboration, enabling early involvement in project development to enhance efficiency and project economics. The partnership will focus on providing full engineering, procurement, construction, installation, and commissioning solutions for multiple discoveries in Suriname.
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SLB OneSubsea and Subsea7 Partner with PETRONAS for Suriname Offshore Development

SLB OneSubsea and Subsea7 Partner with PETRONAS for Suriname Offshore Development

SLB OneSubsea and Subsea7 have entered into a strategic collaboration with PETRONAS Suriname to advance offshore subsea projects in Suriname's deepwater basin. This agreement, part of the Subsea Integration Alliance, aims to streamline project execution by integrating engineering, procurement, construction, installation, and commissioning services. The collaboration seeks to leverage the combined expertise of the partners to reduce project risks and enhance delivery efficiency. Suriname is emerging as a significant region for exploration and development in South America, with the potential for substantial production growth driven by recent discoveries.
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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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Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting has secured a $63.5 million subsea order for a new offshore development in Guyana, reinforcing investment in FPSO-based projects in the region. The order includes the supply of titanium stress joints (TSJs), essential components for subsea riser systems used in floating production, storage, and offloading (FPSO) vessels. Hunting's Subsea Spring business unit will execute the work, with delivery scheduled through May 2028. Revenue recognition is expected to begin in the second half of 2026. This order builds on an additional $4.4 million in related contracts awarded to Hunting's Stafford and Flexible Engineered Solutions units since late 2025, with potential for further scope as the development progresses.
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Arcius Energy Commits $500 Million to Develop Harmattan Gas Field in Egypt

Arcius Energy Commits $500 Million to Develop Harmattan Gas Field in Egypt

Arcius Energy has made a final investment decision (FID) to develop the Harmattan gas field located in Egypt's El Burg offshore concession. The company plans to invest up to $500 million in this project, which marks one of its first major initiatives in Egypt following the acquisition of the concession earlier this year. The development aims to boost the supply of natural gas to the domestic market. The project will be executed in collaboration with the Egyptian Natural Gas Holding Company (EGAS) and local partners, with engineering, procurement, construction, and installation work awarded to ENPPI. Petroleum Marine Services and Petrojet will serve as subcontractors. Arcius operates the El Burg Offshore concession with a 100% interest, which includes the Harmattan field.
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Ecopetrol Strike Risk Diminishes Following CEO's Departure

Ecopetrol Strike Risk Diminishes Following CEO's Departure

The risk of a strike at Ecopetrol, Colombia's largest oil company, has decreased after the removal of CEO Ricardo Roa. The decision came after the company's board meetings and amid investigations into Roa's alleged misconduct, including influence peddling and campaign finance violations. The oil workers' union, USO, which represents about 5,000 workers, had threatened a strike unless Roa was removed. With Roa's departure, the union has backed off from its strike plans, allowing Ecopetrol to focus on its operations and strategic goals.
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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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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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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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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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Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project
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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