In a release sent to Rigzone by the SLB team recently, SLB announced that it has been awarded a major drilling contract by Australian independent Woodside Energy for its ultra-deepwater Trion development project offshore Mexico. SLB noted in the release that it will oversee the delivery of 18 ultra-deepwater wells using an integrated services approach and AI-enabled drilling capabilities to improve operational efficiency and well quality. It added that the full scope of the contract includes digital directional drilling services and hardware, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services. Services will begin in early 2026 and be managed through SLB’s Performance Live digital service delivery centers, according to the release, which highlighted that this deal “follows another major contract from Woodside for the Trion development to the SLB OneSubsea joint venture in 2023”. Woodside is developing the field in partnership with Pemex, SLB pointed out in the release, noting that first production is targeted in 2028. “With water depths of up to 2,500 meters, the Trion development presents challenging technical conditions for drilling and well construction,” Wallace Pescarini, president, Offshore Atlantic, SLB, said in the release. “SLB has extensive expertise in ultra-deepwater drilling projects globally and advanced technologies, including AI and digitally enabled hardware, to bring these wells online safely, efficiently, and reliably,” he added. “We will also leverage the strategic investments we’ve made in local talent and supply chains in Mexico, which will help support the on-time delivery of this project,” he continued. Rigzone asked SLB for the value of the drilling contract and if the contract will support any jobs or lead to additional jobs. In response, an SLB spokesperson told Rigzone the company will not disclose the contract value. The spokesperson added that they did not have any specifics

Up to the last days of the Russia-Ukraine natural gas transit deal, the European Union remained reliant on Russia for about a fifth of its gas imports, based on an official report. Russia accounted for 19 percent or 13.4 billion cubic meters (473.22 billion cubic feet) of EU gas imports in the fourth quarter (Q4), according to the European Commission’s quarterly gas market report. Russia’s share of gas imported into the 27-member bloc rose one percentage point from the prior three-month period and two percentage points against Q4 2023. In terms of volume, EU imports of Russian gas increased five percent quarter-on-quarter and 8 percent year-over-year. The EU imported 70 Bcm in the October-December 2024 quarter, up 9 percent quarter-on-quarter but down 6 percent year-on-year. Pipeline gas constituted 62 percent and liquefied natural gas (LNG) 38 percent. Russia was the EU’S second-biggest source of pipeline gas in Q4 2024 accounting for 19 percent, the same as North Africa. Norway remained the EU’s top pipeline gas supplier accounting for 50 percent. Azerbaijan contributed 7 percent. “In the fourth quarter of 2024, the two main remaining transit routes for Russian pipeline gas exports through Ukraine and Turkey transported 38 percent and 54 percent of the Russian gas volumes, respectively”, the report said. For LNG, Russia was also second at 19 percent. The United States stayed number 1 at 43 percent. Qatar came third at 13 percent. “On the importers side, the EU kept its number one position with 20 percent as the world’s largest LNG buyer, a position it acquired in 2022, when the EU replaced the bulk of its Russian pipeline imports with LNG”, the report said. The EU consumed 103 Bcm of gas in Q4 2024, up 8 percent year-on-year and 85 percent quarter-on-quarter, “reflecting the usual higher winter demand

Colombia’s state-owned Ecopetrol SA is considering buying Carlyle Group’s oil driller in the nation as it looks to boost reserves and output, its top executives said in an interview.  Carlyle Group is seeking to sell SierraCol Energy Ltd., Colombia’s biggest independent oil producer, for $1.5 billion, Reuters reported last month. The assets were purchased from Occidental Petroleum Corp. in 2020 for about $825 million.  “We were invited to the process and are currently analyzing the option,” Rafael Guzman, Ecopetrol’s vice president of hydrocarbons, said Tuesday in an interview in the company’s headquarters in Bogotá, speaking alongside Chief Executive Officer Ricardo Roa. “We have yet to decide if we present an offer,” Guzman added, declining to provide a potential amount.  Carlyle Group didn’t reply to a request for comment. SierraCol, which produces around 45,000 barrels of oil equivalent a day, declined to comment.  With Colombia’s reserves of oil and natural gas falling, and President Gustavo Petro refusing to grant new exploration licenses, Ecopetrol is focused on contracts signed before the environmentalist leader took power in 2022. In February, the driller announced it had taken full ownership of the CPO-09 block in the nation’s oil-rich eastern plains, which helped boost reserves. “As we find assets and room to increase exploration and reserves, we will do so gradually,” Roa said Tuesday. Ecopetrol estimates it will produce between 740,000 and 750,000 barrels of oil equivalent per day this year. Ecopetrol’s natural gas reserves fell to the equivalent of 6.7 years last year, down from 7.2 years in 2023. Meanwhile, its oil reserves rose to 7.8 years from 7.7 years in the same period. What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and

Tamboran Resources Corporation has signed a non-binding Letter of Intent (LOI) with an Arafura Rare Earths Limited company to advance discussions for potential gas supply from Beetaloo Basin assets to the latter’s Nolans Rare Earth project in the Northern Territory. Under the agreement, Arafura intends to support the development of Tamboran’s Beetaloo Basin acreage by purchasing 18-25 terajoules per day (TJd) (18-26 MMcfd) of gas for up to 10 years, Tamboran said in a media release.  Through its subsidiaries, Tamboran is the largest acreage holder and operator in the Beetaloo Subbasin, with approximately 1.9 million net prospective acres, according to Tamboran. Arafura’s Nolans Rare Earth project is located 404 miles (650 kilometers) south of Tamboran’s Beetaloo Basin acreage. Arafura’s proposed downstream rare earth processing facility is situated adjacent to the existing Amadeus Gas Pipeline (AGP), Tamboran said. Tamboran added that the two parties will work in good faith to negotiate a full-form term sheet and definitive form documentation. “Tamboran’s LOI with Arafura demonstrates our company’s ongoing commitment to support jobs and industry within the Northern Territory. Arafura’s operations require reliable and affordable gas volumes to operate their rare earths project, which is of national strategic importance”, Joel Riddle, Tamboran managing director and CEO, said. “The Nolans Rare Earth Project has received credit approved terms for more than $1 billion in debt finance from nine export credit agencies and commercial lenders and A$200 million ($125 million) investment commitment from Australia’s National Reconstruction Fund Corporation”, Riddle added. “Tamboran looks forward to building a long-term relationship with Arafura and supplying natural gas to a project of national significance”. To contact the author, email [email protected] WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate

RWE has signed a 10-year corporate power purchase agreement (CPPA) with five independent retail co-operatives to supply electricity from renewable energy sources to over 400 locations across the UK. The deal with Lincolnshire Co-op, Scotmid Co-op, East of England Co-op, Southern Co-op and Central Co-op will provide up to 53GWh of green electricity per year, starting from 1 April 2025. The power will come from the London Array offshore wind farm in the outer Thames Estuary and will offer savings to the five co-operatives throughout the lifetime of the CPPA. The offshore wind farm London Array is operated by RWE and owned by a consortium of four partners: RWE (30%), Caisse de dépôt et placement du Québec, Greencoat UK Wind, and Masdar Energy UK. It has 175 wind turbines and an installed capacity of 630MW. From the time of its fully commissioning in 2013 until September 2018, it was the largest offshore wind farm in the world. Ørsted was previously a stakeholder in the London Array project, but sold its last remaining 25% stake in 2023 to Greencoat in a deal worth £717m. When the wind farm entered into commercial operations in 2013, it was the largest such project in the world until it was overtaken in 2018 by the 659MW Walney Extension. Energy and sustainability advisor Inspired PLC negotiated the CPPA while Shoosmiths LLP led the legal negotiations. Notably, this deal was executed in just three months, less than half the usual timeframe, demonstrating the expertise and efficiency of the partnerships involved.

SSE expects its renewables output to have increased by around 17% year-on-year in 2024, the company said. In a market update ahead of the publication of its 12-months results to 31 March 2025 on 21 May 2025, SSE said that this increase is expected to amount to around 13TWh of renewables output. The increase reflects capacity additions and the effects of variable weather conditions, which continued in the final months of the year. The Perth-headquartered firm had previously cautioned that its full year performance remains subject to a number of factors, including the weather. SSE’s update also stated that the company remains on course to deliver investment of around £3 billion this financial year, reflecting the capital allocation underpinning SSE’s NZAP Plus investment programme. The investments are underpinned by a strong and stable balance sheet, SSE said, with adjusted net debt and hybrid capital expected to be around £10bn at 31 March 2025. The company said that its regulated networks businesses have continued to deliver strong operational performances, with operating profit expectations for the group’s other business units remaining unchanged. In addition, the company said that it expects its 2024/25 adjusted earnings per share to be in the range of 155-160 pence. SSE added that it is focused on delivery of NZAP Plus and reaffirms its target of 175-200 pence adjusted earnings per share for fiscal year 2026/27.