TotalEnergies is set to take full ownership of SapuraOMV Upstream by acquiring the remaining 50% in the Malaysian gas producer and operator through a $530.3m deal with Sapura Upstream Assets, a fully owned subsidiary of Sapura Energy. Earlier this year, TotalEnergies signed a deal with Austrian oil and gas firm OMV to acquire the latter’s 50% stake in SapuraOMV Upstream for $903m. Both the deals are contingent on preceding conditions such as regulatory approvals. The closing of the OMV deal is expected by the end of the first half of 2024 while the latest deal is likely to be finalised in the ..read more

Aker BP has started production from the Hanz oil and gas field located in licence 028 B in the Norwegian North Sea. The company and its partners Equinor and Sval Energy took a decision to move ahead with the project in December 2021 with an initial investment of NOK3.3bn ($300m). However, the total investments for the project are currently estimated to be around NOK5bn ($454m). Hanz has been developed through a tieback to the Ivar Aasen platform, situated nearly 15km further south, on the Utsira High. The Ivar Aasen field, which is operated by Aker BP, has been producing since late 2016. Aker ..read more

French oil and gas company TotalEnergies and Sultanate of Oman’s national oil company OQ have reached the Final Investment Decision (FID) for the Marsa LNG project. The FID reaffirms the long-term partnership between TotalEnergies and the Sultanate. It was announced when TotalEnergies chairman and CEO Patrick Pouyanné met Oman’s Sultan Haitham bin Tariq Al Said and Minister of Energy and Minerals Salim bin Nasser Al Aufi. TotalEnergies has signed an agreement with Oman LNG to offtake 0.8Mtpa of LNG for ten years from 2025, becoming one of the main offtakers of Oman LNG’s production. In additio ..read more

As the offshore wind farm industry continues to grow at an unprecedented rate, the need for cutting-edge machinery that can efficiently produce the essential components for these monumental structures has skyrocketed. From wind towers to offshore foundations, the manufacturing process of these vital components plays a vital role in ensuring the success and sustainability of offshore wind farms. In the realm of offshore wind farm component production, we embark on an exploration of cutting-edge technologies and processes that propel the sea’s renewable energy revolution. With the increasing glo ..read more

Petrofac has secured a technical services contract worth about $350m from Equatorial Guinea’s national oil company Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol) to facilitate the operation of the region’s Block B asset. According to the terms of the contract, Petrofac will deliver technical services across onshore support bases, a floating production storage and offloading (FPSO), and a platform on behalf of the operator GEPetrol. The Block B offshore development area, which is spread over 500,000 acres in the Gulf of Guinea, contains the Zafiro oil field. The Zafiro field has ..read more

bp is simplifying its organisational structure, supporting delivery of the priorities it set out in February 2024 to grow the value of bp. bp will continue to have three businesses – production & operations, gas & low carbon energy and customers & products – enabled by trading & shipping. The current regions, corporates & solutions organisation will be integrated into the businesses and functions, and bp will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. Together these changes will reduce d ..read more

Wood Australia, a subsidiary of UK-based Wood, has secured a contract for conducting a  Concept Study for the Greater Sunrise gas fields, located offshore Timor Leste. The study contract has been awarded by partners of Sunrise Joint Venture (SJV), after a global contract procurement process. SJV is owned by TIMOR GAP with a 56.56% interest, Woodside Energy with a 33.44% stake, which is also the operator, and Osaka Gas Australia with the remaining 10.00% interest. Wood will lead the study with a subcontracting team comprising specialist consulting partners. The study will consider the key ..read more

Sunoco LP (NYSE: SUN) (“SUN” or the “Partnership”) announced the completion of the acquisition of liquid fuels terminals from Zenith Energy and the divestiture of 204 convenience stores to 7-Eleven, Inc. (“7-Eleven”). Both transactions were completed at highly attractive multiples and are immediately accretive to unitholders on key metrics. Including the impact from the European terminal acquisition and West Texas divestiture, the Partnership continues to expect full year 2024 Adjusted EBITDA to be in a range of $975 million to $1 billion. European Terminals Acquisition On March 13, 2024 ..read more

Reference is made to the joint stock exchange announcement on 18 September 2023 by TGS ASA (“TGS” or the “Company,” OSE: TGS) and PGS ASA (“PGS,” OSE: PGS) regarding the combination of the two companies (the “Merger”) to establish the premier energy data company, as well as subsequent announcements on 25 October 2023 and 1 December 2023 regarding, respectively, the execution of the definitive merger agreement and approval by the extraordinary general meetings. As further announced in the update on 14 February 2024, the Merger has been subject to review by the competition authorities in the UK ..read more

Vår Energi has made an oil discovery following the drilling of the Ringhorne North exploration well (well 25/8-23 S) in the Balder area, situated in the Central North Sea off the coast of Norway. The discovery is in production license 956 (PL 956) in which Vår Energi is the operator with a 50% stake. Its recoverable resources are projected to be in the range of 2-3.7 million standard cubic metres of recoverable oil equivalent, which translates to 13-23 million barrels of oil. Vår Energi views the discovery as a promising commercial opportunity for integration into the adjacent infrastructure w ..read more