The Covid-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low, according to Rystad Energy.
Mubadala Petroleum has signed a concession agreement for the Shell-operated Block 4 located in the Red Sea offshore Egypt.
The UK offers operators best profit conditions to develop big offshore fields and Kuwait and Canada follow, according to Rystad Energy.
Offshore drilling contractor Shelf Drilling has received early contract terminations from ADNOC Drilling for two jack-up rigs.
A former executive at Petrofac has pleaded guilty to bribery offences related to contract awards to Petrofac in UAE worth about $3.3 billion.
Lamprell has decided to reorganise into three new business units, Renewables, Digital, and Oil & Gas as part of its efforts to focus on energy transition.
New research has shown that aggregate fossil fuel demand would peak in 2027 with oil peaking in 2029 and gas in 2037, partially due to the impacts of COVID-19.
Energean has taken a Final Investment Decision on the Karish North gas development, offshore Israel, 21-months after the announcement of the discovery.
According to a worldwide survey, almost one-third of workers in the oil and gas industry faced pay cuts in 2020 due to the coronavirus crisis and drop in fuel demand and prices.
Rystad Energy has conducted a comprehensive company-level analysis of the world’s upstream industry, identifying the top carbon-intensity performers.
SHUAA Capital, an asset management and investment banking platform, has completed a debt buyout of Stanford Marine Group’s $308 million facility.
Westwood has reported that 72 high-impact wells were drilled in 2020, which is below 2019 level when 99 wells were drilled. In 2021, Westwood’s projections indicate that activity could at least reach 2020 levels with the potential to reach up to 100 wells.
ADES International is searching for a new Chief Financial Officer (CFO) following the resignation of Khaled Hassan, the group’s current CFO.
Gulf Marine Services (GMS) has secured a long-term contract for the GMS Evolution following a trial of the vessel’s Cantilever Workover System.
