Iran and Russia face significant challenges in their attempt to jointly develop offshore Iranian gas fields as Western sanctions against the two countries are likely to pose problems in sourcing tubing of sufficiently high grades, according to Rystad Energy’s research.

Equinor delivered adjusted earnings* of USD 17.6 billion and USD 5.00 billion after tax in the second quarter of 2022. Net operating income was USD 17.7 billion and the net income was reported at USD 6.76 billion.

A review of offshore oil and gas (O&G) engineering, procurement and construction (EPC) activities in the first half of 2022 has been a mixed bag, emboldened by Brent oil price averaging $70/bbl in 2021 and $107/bbl in 1H 2022, there were high expectations for an influx of offshore EPC awards.

America’s marine economy contributed about $361 billion of the nation’s gross domestic product in 2020. That is according to the most current results of the annual Marine Economy Satellite Account released on June 9, 2022, by two Department of Commerce agencies, NOAA and the Bureau of Economic Analysis (BEA).

Getech, a geoenergy and green hydrogen company, has signed a $1.1 million multi-year contract with a major international energy company for its ‘Globe’ platform and launched the next generation of this innovative tool that models the Earth’s evolution over the last 400 million years.

Fugro N.V announces it has successfully raised approximately EUR 116 million by issuing 10,319,036 new ordinary shares (the “New Shares”) at an offer price of EUR 11.25 per New Share (the “Offer Price”) through an accelerated bookbuilding (the “Offering”).

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO”) and TransGlobe Energy Corporation (TSX: TGL; NASDAQ: TGA; AIM: TGL) ("TransGlobe") (VAALCO and TransGlobe together, the “Combined Company”) announced today that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which VAALCO will acquire all of the outstanding common shares of TransGlobe in a stock-for-stock strategic business combination transaction valued at US$307 million (the “Transaction”).

Ocean services provider DeepOcean announces revenues of USD 499.4 million in 2021, an increase of 42 percent versus the prior year (2020: USD 352.5 million).

With over 600 million currently living without access to electricity in Africa, significant investments are needed across the entire energy value chain in order to make energy poverty history by 2030.

As the burgeoning Guyanese offshore oil and gas industry goes from strength to strength, powered by the Stabroek block, government revenue from domestic production is on track to break the $1 billion mark this year and accelerate to $7.5 billion annually in 2030, according to Rystad Energy research.

Motive Offshore Group(Motive), which specializes in engineering, inspection and rental equipment for the energy sector, has secured a significant multimillion pound investment from H2 Equity Partners (H2). The deal will support the international growth plans and ambitions of Motive, generating 75% of revenue from renewables by 2025. 

Despite the difficult circumstances, Jan De Nul Group still achieved an annual turnover of more than 1.7 billion euro.

SBM Offshore has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion.

French water treatment specialist BIO-UV Group has reported a 38% growth in BIO-SEA ballast water treatment system sales in the first half of the year, compared to the same period 2021.

VAALCO Energy Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell Indexes Annual Reconstitution, according to a preliminary list of additions posted by FTSE Russell on June 3, 2022.

Kent, a global leader in integrated energy services, has had a positive start to 2022 with some strategic project wins across the globe adding a total of over US$550 million to the company’s backlog. Some of the key project awards include: