Hess Joins Exxon, Equinor in Exit from Suriname’s Offshore Block 59
Hess relinquished the block to state-owned Staatsolie, following the withdrawal and transfer of participation stakes by partners Exxon Mobil and Equinor in 2024 to Hess.
Exxon Mobil Finds Natural Gas Reservoir Offshore Cyprus, Government Says
A consortium led by Exxon Mobil has found a reservoir of natural gas at a prospect off the island's coast, a Cypriot government spokesperson said on July 7.
Ithaca Boosts North Sea Stake with $136MM Japex Deal
U.K.-based E&P Ithaca Energy closed an acquisition of North Sea interests from Japan Petroleum Exploration Co. (Japex).
Exxon Returns Some Stabroek Acreage to Guyana, Government Says
An Exxon Mobil-led oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government.
Knot Offshore Announces Tanker Dropdown, Leaseback Agreements
Knot Offshore Partners purchased shuttle tanker Daqing Knutsen from its subsidiary for $95 million, less $70.5 million of outstanding debt and $300,000 of capitalized fees.
E&P Highlights: June 30, 2025
Here’s a roundup of the latest E&P headlines, including an oil discovery by Equinor and an oil and gas lease sale in the Gulf of America.
TotalEnergies to Acquire 25% Interest in Block Offshore Suriname
TotalEnergies has agreed to acquire a 25% interest in Block 53 offshore Suriname, located next to its GranMorgu project currently in development.
Equinor, Partners to Invest $2.1B to Develop North Sea Field
The Fram Sør subsea development includes the Echino South and the Blasto discoveries along with two smaller discoveries in the North Sea, Equinor says.
BOEM to Offer 15,000 Blocks in Gulf Oil and Gas Lease Sale
BOEM is proposing a royalty rate of 16 ⅔ percent for both shallow and deepwater leases—the lowest rate for deepwater since 2007, the agency said.
Hunting Acquires Offshore Services Group FES for $68MM
U.K. engineering group Hunting closed an acquisition of FES, a provider of offshore energy services and supplies.