Equinor revealed that production has begun at the Askeladd Vest subsea field in the Barents Sea, marking a boost to long-term gas supplies for Norway’s Melkøya liquefied natural gas (LNG) plant. The development, which came on stream on September 19, includes two wells installed in a new subsea template and tied back to the Askeladd field that started producing in 2022.
SLB, a major technology company, has signed a definitive agreement which is the final, legally binding contract between parties in for acquisition or major transaction, to take over RESMAN Energy Technology. RESMAN is a specialist in wireless reservoir surveillance solutions and it is known for its advanced chemical tracer systems, which allow energy operators to track the movement of water, gas, oil, and CO₂ in reservoirs with exceptional accuracy.
Global natural gas demand rose to 4,122 billion cubic meters (Bcm) in 2024, marking a 1.9% year-on-year increase, driven mainly by strong consumption in Asia and North America. This growth was fueled primarily by the power generation sector, with extreme summer heatwaves boosting gas-fired electricity needs, according to the International Gas Union’s (IGU) Global Gas Report 2025.
Saudi Aramco, a leading global energy and chemicals company, has finalized a $3 billion international Sukuk offering split into two tranches. Priced on September 10, 2025, the securities are now listed on the London Stock Exchange.
Eni and its Offshore Cape Three Points (OCTP) project partners, Vitol and the Ghana National Petroleum Corporation (GNPC), have signed a Memorandum of Intent with the Government of Ghana, to boost oil and gas production while advancing new sustainability initiatives. The deal outlines a plan to explore a holistic investment strategy that will help advance Ghana’s goals of ensuring reliable, affordable, and environmentally responsible energy.
During the 2025 Gastech Exhibition and Conference, Baker Hughes inked an agreement with Iraq’s Halfaya Gas Company (HGC) to expand cooperation on a flare gas recovery project at the Bin Umar gas processing facility in southeastern Iraq. The initiative aims to cut upstream flaring substantially and convert waste gas into useful products, said the company in a statement.
The global average decline rate of oil and gas fields' production has accelerated sharply, driven by increased dependence on shale and deepwater resources, according to a report released by the International Energy Agency (IEA). This decline has forced companies to put in far greater effort to sustain current production levels.
Subsea7, a global offshore service provider to oil and gas companies,a global offshore service provider to energy companies has been awarded a major contract from Saudi Aramco under a long-term agreement (LTA) to develop offshore facilities in Saudi Arabia (KSA). The contract value is estimated to be between $750 million and $1.25 billion.
In Baghdad, senior Iraqi government officials met with Patrick Pouyanné, Chairman and CEO of TotalEnergies, to celebrate the launch of the construction of the Common Seawater Supply Project (CSSP) and Phase 2 of the Artawi Oil Field Redevelopment project . Both are part of the final component of Iraq's Gas Growth Integrated Project (GGIP), a multi-phase initiative that aims to enhance the country's energy infrastructure.
Energean, an international hydrocarbon exploration and production company, estimated the overall potential gas reserves in its Egyptian platforms at an additional 3 trillion cubic feet (tcf) , Mathios Rigas, the company’s CEO told Reuters.
The company fully owns Abu Qir, North East Almreya, and North Idku concessions, with minority stakes in East Bir El Nems and North East Hap’y concessions. Energean also reported a revenue decline in H1 2025 compared to the same period last year.
