Global and Regional Markets Archives - Drilling Contractor https://drillingcontractor.org/departments/mkt Get the latest oil drilling news with DrillingContractor.org Mon, 04 May 2026 14:35:37 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 202015461 Indian consortium makes gas and oil discovery in Libya’s Ghadames Basin https://drillingcontractor.org/indian-consortium-makes-gas-and-oil-discovery-in-libyas-ghadames-basin-78131 https://drillingcontractor.org/indian-consortium-makes-gas-and-oil-discovery-in-libyas-ghadames-basin-78131#respond Mon, 04 May 2026 14:35:37 +0000 https://drillingcontractor.org/?p=78131 Oil India Limited (OIL) and Indian Oil Corporation (IOCL), as part of an Indian consortium with a combined 25% participating interest, made a gas and oil discovery in onshore exploration Block Area 95/96 in the Ghadames Basin, south-western Libya. The block, covering approximately 6,630 sq km, is operated by SIPEX and carries a commitment of …

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]]> https://drillingcontractor.org/indian-consortium-makes-gas-and-oil-discovery-in-libyas-ghadames-basin-78131/feed 0 78131 Eni takes FID on deepwater gas projects offshore Indonesia https://drillingcontractor.org/eni-takes-fid-on-deepwater-gas-projects-offshore-indonesia-78117 https://drillingcontractor.org/eni-takes-fid-on-deepwater-gas-projects-offshore-indonesia-78117#respond Fri, 01 May 2026 15:05:05 +0000 https://drillingcontractor.org/?p=78117 Eni took final investment decisions for two deepwater gas projects in the Kutei Basin offshore East Kalimantan, Indonesia, sanctioning both the Gendalo and Gandang gas project and the Geng North and Gehem fields for development. The Gendalo and Gandang project, located in water depths of 1,000 to 1,800 m, calls for the drilling of seven …

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]]> https://drillingcontractor.org/eni-takes-fid-on-deepwater-gas-projects-offshore-indonesia-78117/feed 0 78117 TPAO’s Çağrı Bey arrives offshore Somalia for Curad-1 well https://drillingcontractor.org/tpaos-cagri-bey-arrives-offshore-somalia-for-curad-1-well-78112 https://drillingcontractor.org/tpaos-cagri-bey-arrives-offshore-somalia-for-curad-1-well-78112#respond Thu, 30 Apr 2026 14:19:10 +0000 https://drillingcontractor.org/?p=78112 Turkish Petroleum’s Çağrı Bey ultra-deepwater drillship arrived in Somalia to conduct the country’s first offshore drilling operation and TPAO’s first deep-sea drilling campaign outside Turkish waters. The drillship will proceed to the Curad-1 well, located approximately 370 km offshore Mogadishu. The well, whose name means “firstborn” in Somali, targets a water depth of approximately 3,500 …

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]]> https://drillingcontractor.org/tpaos-cagri-bey-arrives-offshore-somalia-for-curad-1-well-78112/feed 0 78112 UAE announces withdrawal from OPEC https://drillingcontractor.org/uae-announces-withdrawal-from-opec-78097 https://drillingcontractor.org/uae-announces-withdrawal-from-opec-78097#respond Wed, 29 Apr 2026 15:23:09 +0000 https://drillingcontractor.org/?p=78097 The United Arab Emirates (UAE) announced that it will withdraw from OPEC and the broader OPEC+ alliance effective 1 May, stripping the cartel of its third-largest producer. In a statement, the country’s Ministry of Energy and Infrastructure said that the decision to leave the cartel “followed a comprehensive review of the UAE’s production policy and …

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]]> https://drillingcontractor.org/uae-announces-withdrawal-from-opec-78097/feed 0 78097 Petro Victory Energy reports stacked gas pay at São João well in Brazil https://drillingcontractor.org/petro-victory-energy-reports-stacked-gas-pay-at-sao-joao-well-in-brazil-78094 https://drillingcontractor.org/petro-victory-energy-reports-stacked-gas-pay-at-sao-joao-well-in-brazil-78094#respond Wed, 29 Apr 2026 14:59:58 +0000 https://drillingcontractor.org/?p=78094 Petro Victory Energy drilled the SJ-12 well in the São João field in the Barreirinhas Basin, Brazil, encountering 72 net meters of gas pay across five zones. The 7-SJ-12DA-MA well reached a total depth of 3,180 m, intersecting the Barro Duro–Tutoia and Bom Gosto–Arpoador formations. Petrophysical interpretation identified five net pay zones in the Bom …

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]]> https://drillingcontractor.org/petro-victory-energy-reports-stacked-gas-pay-at-sao-joao-well-in-brazil-78094/feed 0 78094 South America offshore market builds momentum with frontier exploration, steady progress https://drillingcontractor.org/south-america-offshore-market-builds-momentum-with-frontier-exploration-steady-progress-77948 https://drillingcontractor.org/south-america-offshore-market-builds-momentum-with-frontier-exploration-steady-progress-77948#respond Wed, 22 Apr 2026 18:28:53 +0000 https://drillingcontractor.org/?p=77948 By Stephen Whitfield, Senior Editor Over the past few years, the offshore oil and gas landscape in South America has undergone a noticeable shift. Traditional fields and proved reserves in areas like the Brazilian pre-salt have matured, while newer plays like Guyana have become consistent producers. Beyond that, new frontiers like the Equatorial Margin in …

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]]> https://drillingcontractor.org/south-america-offshore-market-builds-momentum-with-frontier-exploration-steady-progress-77948/feed 0 77948 Focus on local capacity building can help ensure ‘the Namibian people win’ amid E&P boom https://drillingcontractor.org/focus-on-local-capacity-building-can-help-ensure-the-namibian-people-win-amid-ep-boom-77963 https://drillingcontractor.org/focus-on-local-capacity-building-can-help-ensure-the-namibian-people-win-amid-ep-boom-77963#respond Wed, 22 Apr 2026 18:28:53 +0000 https://drillingcontractor.org/?p=77963 By Jessica Whiteside, Contributor This could be a momentous year for Namibia’s emerging offshore oil and gas industry. TotalEnergies is expected to take a final investment decision on its Venus project in the Orange Basin, and Shell is resuming exploratory drilling in Petroleum Exploration License 39 after writing down $400 million on earlier discoveries last …

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]]> https://drillingcontractor.org/focus-on-local-capacity-building-can-help-ensure-the-namibian-people-win-amid-ep-boom-77963/feed 0 77963 Market volatility ratcheted up to new heights amid geopolitical conflicts https://drillingcontractor.org/market-volatility-ratcheted-up-to-new-heights-amid-geopolitical-conflicts-77912 https://drillingcontractor.org/market-volatility-ratcheted-up-to-new-heights-amid-geopolitical-conflicts-77912#respond Wed, 22 Apr 2026 18:28:52 +0000 https://drillingcontractor.org/?p=77912 By Linda Hsieh, Editor & Publisher The geopolitical situation in the Middle East is evolving at a very rapid pace, so whatever short-term specifics we publish in a bi-monthly magazine like this one are likely going to be outdated by the time it gets out to our readers. However, it’s become clear that, no matter …

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]]> https://drillingcontractor.org/market-volatility-ratcheted-up-to-new-heights-amid-geopolitical-conflicts-77912/feed 0 77912 UK offshore industry calls for policy changes that face market realities https://drillingcontractor.org/uk-offshore-industry-calls-for-policy-changes-that-face-market-realities-78028 https://drillingcontractor.org/uk-offshore-industry-calls-for-policy-changes-that-face-market-realities-78028#respond Wed, 22 Apr 2026 18:28:52 +0000 https://drillingcontractor.org/?p=78028 By Stephen Whitfield, Senior Editor Heading deeper into the latter half of the 2020s, the offshore oil and gas industry in the UK is at an inflection point. The country will continue to need significant volumes of oil and gas for decades. According to Offshore Energy UK’s (OEUK) Business Outlook Report 2026, oil and gas …

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]]> https://drillingcontractor.org/uk-offshore-industry-calls-for-policy-changes-that-face-market-realities-78028/feed 0 78028 Seadrill pushes forward with AI-enabled lifecycle management of critical drilling equipment https://drillingcontractor.org/seadrill-pushes-forward-with-ai-enabled-lifecycle-management-of-critical-drilling-equipment-77911 https://drillingcontractor.org/seadrill-pushes-forward-with-ai-enabled-lifecycle-management-of-critical-drilling-equipment-77911#respond Wed, 22 Apr 2026 18:28:51 +0000 https://drillingcontractor.org/?p=77911 By John Dady, Seadrill Artificial intelligence (AI) is reshaping the energy sector, driving a new era of operational excellence, efficiency and safety. Historically, drilling equipment maintenance has relied on calendar-based schedules and periodic inspections, with limited ability to detect nuanced degradation patterns or anticipate failures before they occur. As digital transformation accelerates, the convergence of …

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