Oil and gas industry news

Zephyr Energy starts drilling the State 16-2 well in Utah's Paradox Basin—find out what makes this project a potential game-changer.

The Norwegian government has approved the Northern Lights CCS project, a CO2 transport and storage project being taken up by Equinor and its partners on the Norwegian Continental Shelf (NCS). The Northern Lights CO2 transport and storage project also secured funding commitment from the Norwegian government. Northern Lights will enable the transport of CO2 from […]

Equinor has started production from the NOK 19 billion ($2.17 billion) Snorre Expansion Project in the Norwegian North Sea, ahead of schedule. Originally, the increased oil recovery project at the Snorre field was to come on stream in the first quarter of next year. Commenting on the commissioning of the Snorre Expansion Project, Geir Tungesvik […]

Aker Solutions has won a subsea contract worth around NOK 1 billion ($113.4 million) from Equinor for a subsea production system to be installed at the Kristin Sør project in the North Sea. The contract comes with options for some additional work, said Aker Solutions. According to the Norwegian engineering company, the plan is to […]

McDermott International has won a contract from BHP Petróleo Operaciones de México to carry out the preliminary front-end engineering design (pre-FEED) extension phase for a floating production unit (FPU) to be installed at the Trion oil field in the Mexican Gulf of Mexico. The Trion field FPU will be installed in a water depth of […]

Equinor has completed its $550 million acquisition of a 49% stake in KrasGeoNaC (KGN) from Rosneft in a move that boosts its onshore presence in Russia. KrasGeoNaC holds a dozen conventional onshore exploration and production licenses located across Eastern Siberia. As part of the deal, Equinor said that it has redirected its remaining offshore exploration […]

Norwegian shipping company Havila Shipping has won three-year contracts worth around NOK 800 million ($90.7 million) for the use of two of its supply vessels by Equinor on the Norwegian continental shelf (NCS). The supply vessels involved in the deal are Havila Charisma and Havila Foresight. The contracts come with four one-year options, said Equinor. […]

Canadian oil and gas companies Whitecap Resources and TORC Oil & Gas have inked an all-stock merger deal worth nearly CAD 900 million ($703.4 million) to create a light oil weighted producer in Western Canada, valued at $3.12 billion. As part of the deal, Whitecap Resources will assume TORC Oil & Gas’ net debt of […]

ONGC Videsh (OVL) has pulled off another commercial oil discovery in Colombia, this time through the drilling of the Indico-2 well in the onshore block CPO-5 in Llanos Basin. The overseas arm of Indian state-owned Oil and Natural Gas Corporation (ONGC), ONGC Videsh is the operator of the CPO-5 block with a stake of 70%. […]