Friday, 6 November 2026

Fluor Corp. signed a memorandum of understanding with Inelectra, a Venezuelan engineering, procurement and construction management company, according to World Oil. The agreement targets current and future clients in Venezuela's energy, petrochemical and industrial sectors.

The partnership pairs Fluor's global engineering, procurement, construction and project management capabilities with Inelectra's nearly 60 years of local market experience, World Oil reported.

Aker Solutions has received a letter of award for detail design work on offshore installations, a contract the company classifies as "sizeable" with a value between NOK 0.5 billion and NOK 1.5 billion, according to World Oil.

The scope covers detail design for several offshore installations under PTSC M&C's scope, including three major topsides, four jackets, and brownfield tie-ins.

The letter of award remains subject to a final contract.

Matador is eyeing production growth of at least 5% next year, according to Oil & Gas Journal, with recently acquired assets in New Mexico driving the outlook.

Recent acquisitions helped the company's third-quarter production exceed expectations. Assets acquired from EnCap in New Mexico's Eddy and Lea counties are a key factor behind the production forecast.

Chairman and CEO Joe Foran and his team plan to drill up to 25 wells on those acquired properties by the end of next year, according to Oil & Gas Journal.