The independent oil supplier, with a workforce of 155 employees, has joined forces with global energy leader Shell to distribute Shell’s GTL Fuel to agricultural enterprises.

This groundbreaking collaboration seeks to replace the conventional utilization of high-cost subsea umbilical cables, potentially revolutionizing small North Sea tiebacks and offering a cost-effective means of extending the lifespan of the UK's aging production hubs in the North Sea.

This achievement comes only shortly after the Norwegian Petroleum Directorate (NPD) granted consent to the licensees of the Statfjord Øst field for the utilization of new facilities associated with a gas lift project.

This accord aims to avert potential industrial action. However, Chevron remains embroiled in a labor standoff as it lacks a comparable agreement.

Amidst recurring promises from governments to curtail fossil fuel subsidies, a recent report reveals that these subsidies surged to an all-time high of $1.3 trillion last year.

The drilling activities are scheduled to be conducted using one of the semi-submersible rigs managed by Odfjell Drilling.

This decision comes as a setback to international major companies, including Eni SpA, Shell Plc, Exxon Mobil Corp., and TotalEnergies SE.

The company announced this decision as part of its half-year results release.

One of its seismic acquisition vessels has been awarded a new exploration acquisition contract offshore Africa with an undisclosed firm. At the same time, the commencement of operations for another vessel in Brazil has experienced a delay.

The project is operated by TotalEnergies EP Angola, a subsidiary of the French energy giant TotalEnergies.