Greek player Energean Oil and Gas has announced the successful appraisal of the Karish North discovery located offshore Israel.
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According to Rystad’s evaluation of oil fields sanctioned since 2010, international E&P companies are struggling to make money from offshore investments made during the latest investment upturn.
Mermaid Maritime’s joint-venture company with an unnamed offshore services operator has secured a three-year contract extension with a national upstream oil and gas company in the Middle East.
Israel has granted offshore exploration blocks to two consortia of oil companies that placed their bids in the recent licensing round.
Valaris, formerly known as EnscoRowan, has been awarded new contracts and extensions with BP, Murphy Oil, Premier Oil, SapuraOMV, and Saudi Aramco.
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French oil company Total has exercised a one-year option on the existing contract for the Vantage Drilling-owned jack-up rig Emerald Driller in Qatar.
Gulf Marine Services has been awarded a 6.5-month contract, firm period plus options to extend, for a K-Class (Small) vessel.
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Dutch offshore rig designing company GustoMSC has signed a license agreement with Saudi company International Maritime Industries (IMI).
Russian oil and gas company Lukoil has entered into ADNOC’s Ghasha project for the extraction of hydrocarbons in the UAE.
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As investments in tight oil increased from 2016 to 2018 and offshore investments decreased, according to Norwegian energy intelligence group Rystad Energy.
