The contract's approval has triggered the commencement of the FEED activities, paving the way for the Whiptail development project.

The Svalin field, situated in the central part of the North Sea about six kilometers southwest of the Grane field in a water depth of 120 meters, has been in production since 2014.

The IPO was priced at the upper end of the range at 140 baisas per share, selling approximately 2.1 billion shares, representing a 49 percent stake in the company.

This decision follows the Ministry of Energy's directive to suspend production at the Tamar Production Platform and an escalating security situation in southern Israel.

Aramco has signed a memorandum of understanding with Nanshan Group, Shandong Energy Group, and Shandong Yulong to facilitate discussions for the potential acquisition.

The well was tested, revealing a four-way structural trap in the outboard Wilcox trend located in Keathley Canyon Block 964. It encountered approximately 250 feet (75 meters) of net oil pay in the primary Wilcox target.

Originally scheduled to resume production in early September, the FPSO is now expected to come back online in November 2023.

The incident that raised concerns about regional energy security and prompted an increase in gas prices occurred on the Balticconnector pipeline connecting Estonia and Finland. Finnish authorities determined that the damage was the result of "outside activity," and an investigation is underway.

Norwegian company Havkraft has entered into a partnership with Equinor to conduct a feasibility study aimed at harnessing wave energy as a sustainable power source for mobile offshore drilling units

The sale, valued at $1.28 billion, was previously declined by the regulator last year, but there's now renewed hope that it can proceed, a move considered vital for attracting much-needed investment into Nigeria's oil and gas sector.