News

May 2025 – Energy & Engineering Brief，Indian Oil Corporation Ltd (IOCL), India's leading state-owned energy enterprise, has unveiled an ambitious roadmap to achieve $1 trillion in revenue by 2047. This strategic vision encompasses a significant expansion of its traditional oil and gas operations and a bold diversification into emerging sectors such as data centers, nuclear power, battery manufacturing, and critical mineral mining.

May 2025 – Energy & Engineering Brief，Indonesia has inaugurated two major offshore oil and gas projects in the South Natuna Sea, marking a significant step toward achieving national energy self-sufficiency. President Prabowo Subianto emphasized the importance of these developments in reducing reliance on energy imports and enhancing domestic production capabilities.

May 2025 – Energy & Engineering Brief.Ontario Power Generation (OPG) has received final approval to construct North America's first commercial grid-scale Small Modular Reactor (SMR) at the Darlington New Nuclear Project site. The project will utilize the BWRX-300 reactor design from GE Hitachi Nuclear Energy and is scheduled to commence operations by 2030 .

May 2025 – Energy & Engineering Brief.Canadian-based upstream operator Valeura Energy Inc. has confirmed its Final Investment Decision (FID) for the redevelopment of the Wassana oilfield, a key asset in the G10/48 concession area of the Gulf of Thailand. The project marks a strategic return to production, leveraging a new Floating Storage and Offloading unit (FSO) and a five-well drilling campaign expected to begin soon.

Akrake Petroleum Benin SA, a wholly owned subsidiary of Lime Petroleum Holding AS and indirectly owned by Singapore-based Rex International Holding, has signed contracts to redevelop the Sèmè oilfield offshore Benin. The agreements encompass the provision of a Mobile Offshore Production Unit (MOPU), converted from a mid-sized drilling rig, and an Aframax tanker to serve as a Floating Storage and Offloading (FSO) unit.

Technip Energies, in partnership with Consolidated Contractors Company (CCC), has been awarded a significant Engineering, Procurement, and Construction (EPC) contract by QatarEnergy for the North Field South (NFS) project. This project represents a pivotal phase in Qatar's ambitious plan to expand its liquefied natural gas (LNG) production capacity.

In May, 2025, BW Energy has announced its final investment decision (FID) to develop the Maromba oil field, located about 100 kilometers off the coast of Brazil in the Campos Basin. This move marks a significant step in the company’s offshore expansion strategy in South America.

April 21, 2025 — ExxonMobil Guyana Limited has awarded MODEC a contract to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project, located offshore Guyana. The contract, issued as a Limited Notice to Proceed (LNTP), initiates early-phase work on the FPSO, including front-end engineering and design (FEED). Pending regulatory and government approvals, the project will advance to the engineering, procurement, construction, and installation (EPCI) phase.

April 21, 2025 — Abu Dhabi National Oil Company (ADNOC) Gas is making significant progress on the expansion of its gas processing infrastructure in the United Arab Emirates, focusing on the enhancement of the Habshan gas facilities. This initiative aims to increase gas processing capacity to meet the rising domestic and international demand for natural gas.

April 21, 2025 – Global consulting and engineering firm Wood has secured two framework agreements valued at a combined $11 million from TotalEnergies EP Ratawi Hub to provide critical engineering and procurement services for the redevelopment of the Ratawi oil field in southern Iraq. The contracts span a three-year term and are part of the Associated Gas Upstream Project (AGUP), a key element of Iraq’s Gas Growth Integrated Project (GGIP).

Viva Energy is advancing its $350 million Ultra-Low Sulfur Gasoline (ULSG) project at the Geelong Refinery in Victoria, Australia, aiming to commence production by late 2025. This initiative is set to reduce the sulfur content in gasoline to 10 parts per million (ppm), aligning with new national fuel standards effective December 2025. The project includes the construction of a new sulfur removal unit and supplementary equipment, with significant components already delivered and installed. The upgrade is expected to enhance fuel quality, reduce vehicle emissions, and support the introduction of advanced engine technologies in Australia.​

April 2025 – BW Energy has approved the Final Investment Decision (FID) for its Golfinho Boost project, a strategic initiative aimed at enhancing oil recovery from the Golfinho field, located offshore Brazil in the Espírito Santo Basin. The project is designed to increase production by approximately 3,000 barrels of oil per day by 2027 and unlock an additional 12 million barrels of recoverable reserves. The total investment is expected to reach $107 million.

The Middle East holds a pivotal position in the global oil and gas industry.

Iraq and BP have reached a significant agreement to develop multiple oil fields in Kirkuk province, aiming to boost production capacity and modernize the region’s energy infrastructure.

Eni and Petronas have signed a memorandum of understanding to establish a joint venture overseeing selected upstream assets in Indonesia and Malaysia.

BP has announced a strategic pivot, increasing its investment in oil and gas operations to approximately $10 billion annually, while reducing its commitment to renewable energy projects.

Vermilion Energy Inc. has finalized its acquisition of Westbrick Energy Ltd. for a total consideration of $746 million USD ($1.075 billion CAD).

ADNOC Gas, a key subsidiary of Abu Dhabi National Oil Company (ADNOC), has announced a significant $2.1 billion contract aimed at enhancing its natural gas infrastructure.

Hindustan Petroleum Corporation Limited (HPCL), a leading Indian oil and gas company, has unveiled plans to invest ₹1.3 lakh crore in expanding its refining capacity and strengthening its presence in the renewable energy sector.

Shell, a leading global energy company, forecasts that global demand for liquefied natural gas (LNG) will surge by 60% by 2040, with Asia playing a dominant role in this expansion. As economies transition toward cleaner energy sources, LNG is expected to play a crucial part in meeting the growing demand for reliable and lower-carbon energy solutions.