Halliburton, one of the world’s leading providers of energy products and services, has been awarded multiple contracts by Petrobras to provide vessel stimulation, intelligent completions, and safety valves for deepwater fields in Brazil, according to a company announcement. The awards were secured following a competitive bidding process.
Dana Gas, the Middle East’s leading natural gas company, and Crescent Petroleum, the region’s oldest private upstream oil and gas firm, announced the official launch of the commercial gas sales from the KM250 gas expansion project at the Khor Mor facility in the Kurdistan Region of Iraq (KRI). The KM250 project, delivered eight months ahead of the revised schedule, adds 250 million standard cubic feet per day (mmscf/d) of processing capacity, a 50% increase, raising total output at Khor Mor to 750 mmscf/d. This significant milestone will enhance Iraq’s energy security by supplying clean-burning natural gas to meet its rapidly growing electricity demand.
bp, the giant integrated energy company, expects its results for the third quarter (Q3) of 2025 to show higher oil and gas production, compared to Q2. The company also expects its gas and low carbon revenues to be lower by $0.1 billion compared to Q2 due to the drop in natural gas prices in the non-Henry Hub marker, which is the global natural gas price benchmark outside the U.S. Henry Hub.
In the oil production and operations segment, earnings are expected to remain largely unchanged from the previous quarter, factoring in the effects of pricing delays on bp’s output in the Gulf of Mexico and the UAE, bp said.
Kuwait Oil Company (KOC), a subsidiary of the state-owned Kuwait Petroleum Corporation, announced a new natural gas discovery at the offshore Al-Jazah field. The discovery set a historical national production record for a vertical well, exceeding 29 million cubic feet per day (mmcf/d) of gas.
SONATRACH, the Algerian national oil company (NOC), and the Saudi Midad Energy North Africa signed a $5.4 billion hydrocarbon-sharing contract for the exploration and development of the Illizi South area in Algeria.
The agreement, signed on October 13, strengthens Algerian-Saudi energy cooperation and is fully funded by Midad Energy. The company has dedicated $288 million specifically for initial exploration activities. The contractual area is located about 100 kilometers south of In Amenas.
Chevron, one of the world's largest integrated energy companies, along with the Greek partner Helleniq Energy are about to conclude a deal for offshore hydrocarbon exploration before the end of the year, Reuters reported citing the Greece’s Energy Minister, Theodore Papastavrou.
The Iraqi Ministry of Oil announced the increase of daily oil production at the Nasiriyah oil field to 80,000 barrels, after putting nine wells online, according to Iraq News Agency.
Production at the field remains stable across two active sites, B and E, with a total of 36 wells now in operation.
In parallel, the Minister of Oil Hayan Abdul Ghani disclosed that the associated gas investment rate surged to 74%, up from 53%, announcing the commencement of the Basra NGL 1 and NGL 2 projects, each with a planned processing capacity of 400 million cubic feet per day (mmcf/d).
During the Investor Majlis, ADNOC Distribution said that it aims to increase the size of its service station network to 1,150 by 2028, which is 15% more than the previous guidance of 1,000. This target reflects stronger performance across the company’s core business.
ExxonMobil, a major energy company, is exploring the possibility of returning to operations in Iraq after nearly two years away by signing preliminary agreements to begin work on the Majnoon oil field in southern Iraq. The oil field, located about 60 kilometers north of Basra, is recognized as one of the world's most resource-rich fields, containing an estimated 38 billion barrels of oil.
Peru's Energy and Mines Minister, Jorge Luis Montero, anticipates signing a memorandum of understanding (MoU) with Saudi Arabia in November to collaborate on lithium and other critical mineral projects. The minister plans to travel to Saudi Arabia next month alongside Peru's foreign minister to finalize broader economic agreements with Gulf nations as part of the country's major energy sector overhaul.
