Upstream news
National University of Singapore’s Energy Studies Institute and FutureScaleX release new policy brief on US climate policy reversal and Asia’s growing CCS opportunity
The brief provides new analysis of stalled US project pipelines, modelling on the economic impact of new import tariffs, and a growing innovation gap that now favours East Asia.
Zefiro announces first-ever methane monitoring contract as part of the EPA's Methane Emissions Reduction Program (MERP)
This program is federally funded under the Inflation Reduction Act (IRA) which specifically provides US$850 million in grants to reduce, monitor, measure, and quantify methane emissions from the oil and gas sector.
Baker Hughes to acquire Chart Industries
Baker Hughes and Chart Industries have announced that they have entered into a definitive agreement under which Baker Hughes will acquire all outstanding shares of Chart’s common stock for US$210 per share in cash, equivalent to a total enterprise value of US$13.6 billion.
CSA announces major oil and gas contracts in Suriname
CSA will mobilise vessels of opportunity to perform field operations in a range of water depths up to 3000 m and manage multiple Environmental and Social Impact Assessment (ESIA) programs offshore Suriname.
Saipem and Subsea7 announce signing of merger agreement
Saipem and Subsea7 have announced that they have entered into a binding merger agreement, on terms and conditions in line with what previously communicated at the time of the signing of the Memorandum of Understanding on 23 February 2025. The merger of Saipem and Subsea7 will create a global leader in energy services.
Pantheon Resources spuds Dubhe-1 well in Alaska
Pantheon Resources has announced it has spudded the Dubhe-1 appraisal well at the company’s Ahpun oil field on the North Slope of Alaska.
SLB awarded carbon storage contract for Northern Endurance Partnership project in UK
SLB secures comprehensive carbon storage solutions contract for pioneering CCS infrastructure.
Chevron completes acquisition of Hess
Chevron Corporation has announced that it has completed its acquisition of Hess Corporation following the satisfaction of all necessary closing conditions, including a favourable arbitration outcome regarding Hess’ offshore Guyana asset.
Central European Petroleum makes major Wolin East oil discovery offshore Poland
Estimated oil and gas resources in Wolin East constitute the largest conventional hydrocarbon field yet discovered in Poland, and one of the largest conventional oil discoveries in Europe in the past decade.
Hunting announces US$31 million subsea order for the Black Sea
The award follows Hunting’s maiden contract for the phase two development received in 2024, which is currently under production and will be completed by 2026. Together, the two awards represent c. US$51.6 million of revenue for the Group.