
Shell sells its stake in Cyprus gas project
British Shell is selling its stake in the Cypriot Aphrodite gas project to Hungary's MOL Group for up to $720 million. The deal is expected to be finalized in early 2027, pending all necessary approvals.
AILINCOM 
British Shell is selling its stake in the Cypriot Aphrodite gas project to Hungary's MOL Group for up to $720 million. The deal is expected to be finalized in early 2027, pending all necessary approvals.

BP has agreed to sell a 15% stake in its subsidiary that manages oil and gas fields in the Kirkuk region to the Turkish state company Turkish Petroleum. This deal expands BP and TPAO’s cooperation in Iraq and strengthens their strategic partnership.

The Searah joint venture has begun construction of the topsides for the FPSO Bahtera Haluan Lestari, a key component of Indonesia’s large-scale Kutei North Hub gas project. The $11.8 billion project aims to advance the country’s energy sector, create new jobs, and introduce innovative technologies. It also has the potential to position Searah as one of the leading players in Southeast Asia’s oil and gas industry.

Russian engineers have developed a laboratory system that simulates real conditions in oil reservoirs and helps select the most effective materials to enhance hydraulic fracturing efficiency. The new installation has already proven its value at challenging oil fields and is planned for use at other sites as well.

Equinor and its partners have discovered a new oil field near Johan Castberg in the Barents Sea, with reserves estimated at up to 10.5 million barrels. They are considering connecting it to the existing infrastructure.

Equinor has signed a contract for the design of the Atlantis gas condensate field and has launched the new Eirin gas field, further strengthening the development of the Norwegian continental shelf.