Reassess Supply, Safety and Hull Availability After Regional Moves

Ras Laffan petrochemicals project in Qatar (aerial view); Source: CPChem An operational incident took place during the start-up of operations at the QatarEnergy LNG-operated Ras Laffan Industrial City, which resulted in an explosion and fire at the Barzan local gas supply facility in the evening hours of Sunday, June 21, 2026. In response to the incident, emergency response teams were deployed immediately to contain the fire, which was brought under control

In response to the incident, emergency response teams were deployed immediately to contain the fire, which was brought under control

While elaborating that QatarEnergy’s LNG facilities, Ras Laffan Port, other logistics operations, and its export capabilities remain unaffected in the aftermath of this explosion and fire, the firm highlights that a full investigation has begun to determine the cause of the incident

Home Fossil Energy Saipem exits Saudi Arabian shallow-water drilling playground with sale of jack-up rig fleet to ADES June 24, 2026, by Italy’s engineering, drilling, and construction services giant Saipem is divesting its shareholding in Saudi Arabian Saipem (SAS) to close its shallow water drilling chapter in Saudi Arabia, as it continues its shift to deepwater plays. This move enables ADES Holding Company, part of Saudi Arabia-headquartered ADES Group, to bring the Italian giant’s affected jack-up rigs into

Dr. Mohamed Farouk, CEO of ADES Holding, commented: “The addition of five, high-specification premium jack-ups, with an average fleet age of 10

View post tag: ADES View post tag: market consolidation View post tag: offshore drilling View post tag: rig market consolidation View post tag: Saipem View post tag: Saudi Arabia

FSO naming ceremony; Source: Yinson Production Yinson Production celebrated the naming of the FSO PTSC Lac Da Vang (FSO PTSC LDV) on June 23, marking what is seen as a significant milestone ahead of the vessel’s deployment to the Lac Da Vang project offshore Vietnam. The unit is contracted to Murphy Cuu Long Bac Oil, a wholly owned subsidiary of Murphy Oil Corporation, to provide storage and offloading services for the Lac Da Vang field in Block 15-1/05, following a deal for a firm period of ten years with an

Designed as a newbuild double-hull vessel with a storage capacity of approximately 500,000 barrels, the FSO PTSC LDV incorporates advanced dual-fuel systems to support operational efficiency while contributing to lower emissions

The unit is contracted to Murphy Cuu Long Bac Oil, a wholly owned subsidiary of Murphy Oil Corporation, to provide storage and offloading services for the Lac Da Vang field in Block 15-1/05, following a deal for a firm period of ten years with an option to extend for up to an additional five years

Based on the strong performance of the first well and the subsurface data gathered during drilling of the second well, the third well has been confirmed, with drilling already ongoing

Jadestone booked Velesto’s NAGA 8 rig to support infill drilling activities at the East Belumut Phase 9 project for a period of four months, starting in March

Mitch Little, Chief Executive Officer of Jadestone, commented: “Our established operating capabilities in Malaysia, combined with our refreshed focus on operational excellence, have been further validated by the outcome of the EBA-18ST3 well. “The result is an excellent start to this year’s drilling campaign and will significantly increase our Malaysia production in the near-term against the backdrop of strengthened Brent oil prices, with our most recent Malaysia oil sales attracting a US$14/bbl premium to Brent