Lock Down Mobilisation Risk From SURF Market Consolidation

Home Fossil Energy Serica Energy wins race for Pharos Energy with €170 million takeover agreement July 27, 2026, by UK-based upstream oil & gas player Serica Energy has agreed to acquire compatriot Pharos Energy for £145

At the same time, the Board of Pharos is delighted to be recommending this offer from Serica, which delivers shareholders a material premium in cash to the Ratio Offer

” In addition to Pharos’ established in-country organizations and host-government relationships in Vietnam and Egypt, the combined group would bring together Serica’s proven subsurface capability and Pharos’ mature producing assets. The combined group would also acquire approximately $45 million of cash held by Pharos as of June 30, and would benefit from a robust balance sheet, with material liquidity, with the capacity to optimize the delivery of infill opportunities in Vietnam and Egypt, while continuing to

Home Fossil Energy Australia’s ‘largest untapped’ conventional gas resource gets significant project status July 27, 2026, by The Western Australian Government has granted State Significant Project status to a Woodside Energy-operated offshore development project, described as Australia’s largest untapped conventional gas resource. Browse to North-West Shelf project development concept; Source: Woodside With a forecast production capacity of 11

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According to Woodside Energy, State Significant Project status represents the highest level of prioritization available under the Western Australian Government’s Lead Agency Framework, which is designed to guide proponents through the approvals process. It will support coordinated engagement as the project progresses towards key approvals and development milestones

Home Subsea Eni strengthens team for Côte d’Ivoire project with Saipem now on board July 27, 2026, by Italy’s energy giant Eni has continued its contract awards spree for the third phase of its oil & gas development project off the coast of Côte d’Ivoire, with Saipem having been selected for the delivery of rigid pipelines and associated subsea structures

The two new contracts have a total value of approximately €800 million

Saipem has also been awarded a contract by Eni for the engineering, procurement and construction (EPC) of a new deoxygenation unit at Enilive’s biorefinery in Venice, Italy

Home Fossil Energy Saipem-Subsea7 merger under the microscope as EU flags competition concerns July 24, 2026, by A proposed merger between Italy’s engineering, drilling, and construction services giant Saipem and the Luxembourg-domiciled Subsea7 is facing deeper scrutiny in the European Union (EU) over offshore market concentration due to subsea umbilicals, risers, and flowlines (SURF) and carbon capture and storage (CCS) market dominance, potentially threatening to undermine competition, raise costs, and curtai

These findings underline that Saipem and Subsea7 are two of the three leading suppliers in the world, and the merged entity would have high market and capacity shares in these markets

Illustration; Source: Saipem The European Commission has opened an in-depth investigation under the EU Merger Regulation to assess the proposed merger between Saipem and Subsea7, which aims to give birth to Saipem7 as a combined company, over concerns that the proposed concentration may significantly impact effective competition in some offshore engineering and construction service markets