Tuesday, 3 November 2026

Aker BP has awarded Subsea7 a contract worth up to USD 300 million for the Lyra field development in the northern North Sea, according to World Oil. The field, formerly known as Kjøttkake, is a fast-track project targeting first oil in 2028, only three years after discovery.

The contract covers engineering, procurement, construction and installation of gas lift and production pipelines and associated subsea infrastructure. Offshore installation using vessels from Subsea7's fleet is scheduled across 2026, 2027 and 2028.

TotalEnergies signed agreements with Petronas Carigali Sdn Bhd, PTTEP, and KUFPEC to acquire a 30% operated interest in the Lang Lebah and B14 gas fields offshore Sarawak, Malaysia, according to Oil & Gas Journal.

The transactions are subject to regulatory approvals. Once completed, the ownership structure would give TotalEnergies a 30% operated stake, with PTTEP holding 25%, KUFPEC 25%, and Petronas Carigali 20%, Oil & Gas Journal reported.

An integrated development plan is expected to unlock more than 6.5 tcf of gas resources and supply the existing Malaysia LNG liquefaction plant at a production plateau of around 10 billion cubic meters per year, TotalEnergies said, according to Oil & Gas Journal.

Samsung C&T acquired a majority stake in Powertech, an Australian electrical engineering, procurement, and construction contractor, in a deal valued at approximately AUD 100 million (USD 70 million), according to ESS News.

Powertech's management will retain a minority stake in the company.

The firm employs 300 engineers and technicians and operates across Western Australia, Queensland, the Northern Territory, and Singapore, ESS News reported.