Thursday, 5 November 2026

Brazil's antitrust agency CADE approved the merger of Saipem and Subsea7, Saipem said, according to Offshore Engineer OEDigital. The two oilfield services companies committed to divest the Seven Borealis, a pipelay and heavy-lift vessel, to address competition concerns raised by Brazil during its review.

The deal still faces scrutiny from other antitrust authorities, including the European Commission, according to Offshore Engineer OEDigital.

Shell plc agreed to sell its 16.67% interest in the North West Shelf project in Western Australia to subsidiaries of XRG P.J.S.C., according to Offshore Magazine.

The base consideration is USD 1.45 billion, with an additional milestone-linked contingent payment on top, Offshore Magazine reported. Under the transaction terms, the XRG subsidiaries will assume decommissioning obligations tied to the asset.

The deal is expected to close in 2027, subject to regulatory approvals.

Kosmos Energy Ltd. reduced net debt by more than USD 500 million during the first nine months of 2026, according to Business News Today, driven by higher production, lower operating costs, and sustained free cash flow generation.

The company reported approximately USD 90 million in third-quarter free cash flow. That result extended its streak to three consecutive quarters of positive free cash flow.