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Commodities Eni Awards Saipem $260m Contract for Santorini Drillship in Ivory Coast Campaign
Eni's subsidiary Eni Côte d'Ivoire Limited has awarded Saipem a $260m contract to deploy the Santorini drillship offshore Ivory Coast for a long-term development drilling campaign starting early 2027. The campaign is linked to the Baleine Phase 3 project, which will increase oil production to 150,000 bpd and gas to 200 mmcfd.
Commodities Vår Energi Takes FID on Gjøa Subsea Projects, Strengthens North Sea Hub
Vår Energi has announced a final investment decision on the Gjøa Subsea Projects in the North Sea, comprising the Ofelia, Gjøa Nord, and Cerisa discoveries. The project, with 76 million boe of proved plus probable reserves and a breakeven below $35 per barrel, is expected to start production in phases from 2027. This supports Vår Energi's long-term target of over 400,000 boe per day.
Commodities Vår Energi Approves Seven-Well North Sea Development with 2027 Start-Up
Norwegian oil and gas company Vår Energi has taken a final investment decision on the Balder Next New Wells project in the North Sea. The seven-well development tied back to the Jotun FPSO will develop 86 million barrels of oil equivalent (boe) gross in proved plus probable reserves, with first oil expected in the fourth quarter of 2027. The project has a breakeven of around $30 per boe and an internal rate of return exceeding 35%.
Commodities Conrad Secures Jackup Rig for Indonesian Gas Field Development
Conrad Asia Energy has secured a jackup drilling rig from Pertamina Drilling for the Mako Gas Field in Indonesia. This move marks a significant step in the development of the Duyung PSC, with drilling expected to commence in 2027.