Latest News
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02 Feb 26
Norway: Equinor awards Worley Rosenberg framework agreement for offshore assets in Norway
Worley Rosenberg has been selected by Equinor for a parallel framework agreement for Maintenance and Minor Projects on selected facilities on the Norwegian Continental Shelf. The framework is expected to support activities for selected installations including the Sleipner and Johan Sverdrup facilities following contract signing. The framework agreement is scheduled to commence on 1 May 2026. -
02 Feb 26
UK: Offshore Energies UK welcomes British Geological Survey report on North Sea carbon storage
A new British Geological Survey (BGS) report suggests that sandstone beneath the central North Sea could provide one of the UK’s largest carbon storage resources, supporting the country’s carbon capture and storage (CCS) plans. CCS captures CO2 from large industrial sources, such as steelworks and power stations, and injects it into rock formations over 800 m deep. -
02 Feb 26
US: BOEM publishes Final Notice of Sale for Cook Inlet Lease Sale
hTe Bureau of Ocean Energy Management has announced the Final Notice of Sale for the Cook Inlet Outer Continental Shelf Oil and Gas Lease Sale 1. Officially authorized under the 'One Big Beautiful Bill Act' and commonly known as BBC1, this marks the first of six lease sales in Alaska’s Cook Inlet required by the legislation. -
02 Feb 26
US federal court grants preliminary injunction allowing Sunrise Wind construction to resume
The U.S. District Court for the District of Columbia has granted the preliminary injunction sought by Sunrise Wind regarding the 22 December 2025 suspension order issued by the Department of the Interior’s Bureau of Ocean Energy Management (‘BOEM’). The court’s action will allow the Sunrise Wind Project to restart impacted activities immediately. -
02 Feb 26
US: Devon Energy and Coterra Energy to combine, creating a premier shale operator
Devon Energy and Coterra Energy have announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin. -
02 Feb 26
Equatorial Guinea, Chevron sign Aseng Agreement, strengthening GEPetrol participation
The Ministry of Hydrocarbons and Mining Development of the Republic of Equatorial Guinea, in partnership with energy major Chevron, has officially signed the Heads of Agreement (HoA) for the financing of GEPetrol’s participation in the Aseng Gas Project in Block I. -
02 Feb 26
Tunisia: Voltalia wins a new solar project in Tunisia
Voltalia, an international player in renewable energies, has secured a 132-megawatt solar project in the Gabès region in south-east Tunisia -
02 Feb 26
Argentina: Equinor captures value through sale of Argentina onshore assets
Equinor has signed an agreement with Vista Energy to divest its full onshore position in Argentina’s Vaca Muerta basin. The transaction includes Equinor’s 30% non-operated interest in the Bandurria Sur asset and its 50% non-operated interest in the Bajo del Toro asset. Equinor’s Argentinian offshore acreage is not affected by the transaction. The total consideration is valued at around USD 1.1 billion. -
02 Feb 26
Italy: Zenith Energy acquires solar energy project in Piedmont
Zenith Energy, the listed international energy production and development company, has announced the acquisition of an agrivoltaic project at development stage located in the Piedmont region of Italy, through its wholly-owned Italian subsidiary, responsible for managing its solar energy portfolio, WESOLAR. -
02 Feb 26
Qatar: McDermott secures landmark definition engineering contract for Qatar's first major offshore decommissioning project
McDermott has been awarded a decommissioning definition engineering contract by QatarEnergy for the State of Qatar's inaugural offshore decommissioning initiative. Under the contract scope, McDermott will develop a comprehensive technical and commercial framework and conduct detailed techno-economic studies to ensure the safe and systematic retirement and removal of 27 aging offshore platforms. -
02 Feb 26
Libya: TGS signs Letter of Intent with subsidiary of Libya National Oil Corporation
TGS, a global provider of energy data and intelligence, has today announced the signing of a Letter of Intent (LOI) with North Africa Geophysical Company, (NAGECO),a subsidiary of the Libya National Oil Corporation (NOC), marking an important step toward expanding multi-client data activities in Libya. -
02 Feb 26
Indonesia: Empyrean Energy announces Duyung PSC update
Empyrean Energy has signed a binding term sheet for a settlement agreement with Conrad Asia Energy, the operator of the Duyung PSC and Mako Gas Field in Indonesia, which has successfully and amicably resolved the outstanding cash call dispute between Empyrean, Conrad and Conrad's subsidiary, West Natuna Exploration Limited ('WNEL'). -
02 Feb 26
China: Octopus Energy announces major China joint venture with PCG Power during Prime Minister’s visit
Octopus Energy Group, the UK’s largest energy supplier, has announced a new joint venture with China’s PCG Power to trade renewable energy across the world’s largest clean energy market. The deal, announced during the Prime Minister’s official visit to China, marks Octopus’ entry into the world’s largest renewable energy market and a major step in exporting British energy tech overseas. -
02 Feb 26
Energy Holdings: SeaBird Exploration signs contract extension for Eagle Explorer
SED Energy Holdings has announced that its wholly owned subsidiary, SeaBird Exploration, has signed a three-month contract extension for OBN source work for the Eagle Explorer in the Western Hemisphere. -
02 Feb 26
Norway: Aker BP starts oil production from the Solveig Phase 2 development in the North Sea
Aker BP has started oil production from the Solveig Phase 2 development in the North Sea. The project has been delivered on schedule and within budget, adding approximately 39 million barrels of oil equivalent in recoverable resources to the Solveig field. -
02 Feb 26
Africa will continue to drive global drilling activity in 2026 - Rystad Energy
The upstream sector is set to carry strong momentum into 2026, with high-impact wildcat drilling activity expected to remain elevated following a solid 2025. Last year, the success rate for high-impact wildcat wells rose to 38% from 23% in 2024, while total discovered volumes increased by 53% year on year to around 2.3 billion barrels of oil equivalent (boe), according to Rystad Energy’s research and analysis.
