bp and ConocoPhillips have agreed terms for ConocoPhillips to acquire a 42 per cent interest in BP Energy Company of Kirkuk Limited (BP ECKL), supporting the redevelopment of several large-scale oil fields in the Kirkuk area of northern Iraq.
bp has agreed to sell bp Ventures’ minority stakes in more than 10 energy technology companies to Verdane, subject to approvals. The deal supports portfolio simplification and disciplined capital allocation, with completion expected by the second quarter of 2027.
British oil and gas company bp has announced that it would reorganise its business into two operating segments - Upstream and Downstream - thus replacing its current three-segment structure, effective July 1. This comes as part of bp's efforts to simplify its structure, boost performance as well as shareholder returns.
Oil and Natural Gas Corporation (ONGC) and bp have signed a new Technical Services Contract for ONGC’s Western Offshore Basin, expanding their collaboration beyond Mumbai High to one of India’s most important hydrocarbon-producing regions.
Eni, through its joint venture Azule Energy, has taken the final investment decision (FID) on the Greater PAJ Project, a major offshore oil development in Angola’s Blocks 31 and 31/21, marking a key expansion in the country’s upstream sector.
SLB announced that its OneSubsea joint venture has been awarded a contract by bp to provide a subsea boosting system for the Thunder Horse project, a development in the deepwater portion of Gulf of America.
bp and partners signed three Indonesian Production Sharing Contracts, increasing bp’s block participation to 11. Two blocks near Tangguh LNG in Papua Barat offer exploration potential, while bp joined INPEX-operated Barong block in East Java.
bp confirmed its entry into a production sharing agreement (PSA) for six blocks in the North Ustyurt region of Uzbekistan. The agreement includes the Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq and Qulboy blocks.
Arcius Energy, backed by BP and Adnoc’s XRG, approved a $500 million final investment decision to develop Egypt’s Harmattan gas field in the El Burg offshore concession, aiming to boost natural gas production for domestic demand.
bp has agreed to acquire a 60 per cent interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas as part of bp’s strategy to grow its upstream portfolio.
