Mubadala has entered the unconventional gas and LNG market through Kimmedige. (Image source: Adobe Stock)

Mubadala Energy, the Abu Dhabi-headquartered international energy company, has signed an agreement with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.1% interest in Kimmeridge’s SoTex HoldCo LLC, marking its entry into the US market

SoTex holds two portfolio companies: Kimmeridge Texas Gas, which operates an upstream unconventional gas business in the Eagle Ford in South Texas; and Commonwealth LNG, which owns the 9.3 million metric tons per year (MTPA) pre-FID LNG liquefaction and export facility in Louisiana.

Through SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water and meet rising demand for responsibly-produced LNG across global markets.

Dr Bakheet Al Katheeri, chairman of the Mubadala Energy Board and chief executive officer, UAE Investments Platform, Mubadala Investment Company, commented, “Through this partnership and our entry into the U.S., we are to further build on our leading role in building energy champions that deepen our position in the global economy. We are delighted that Mubadala Energy has finalised this equity investment with Kimmeridge to enable the development of key gas projects in the U.S. Gulf Coast. As the company’s first major investment in the U.S., this transaction positions Mubadala Energy for accelerated growth across the gas value chain in one of the world’s most important and attractive energy hubs.”

The investment supports the company’s ambitious growth plans to invest across the gas value chain in key energy hubs around the world and represents a major addition to its existing global gas portfolio. Moreover, with the company’s goal of  supporting major gas projects in the transition to a lower carbon energy future, this investment is in line with the UAE’s 2050 net zero ambition.

Mansoor Mohamed Al Hamed, managing director and CEO, Mubadala Energy, said, “As our first major investment in the U.S. this transaction offers a significant platform for future growth in one of the world’s most important energy hubs. The investment also highlights our strong position to accelerate our expansion across the gas value chain and build on our strategic international portfolio. We’re excited about the long-term opportunities this partnership offers, in line with our strategy to play a proactive role in the energy transition and grow our global gas portfolio.”

With U.S. LNG supply expected to grow to approximately 33% of the global market by 2050, this investment is a strategic play in one of the world’s most important gas hubs. In addition, world class infrastructure and a highly liquid M&A market ensure attractive long-term prospects in the region, supported by energy demand trends in areas such as AI data centre development.

The collaboration aims to accelerate digital transformation in the drilling industry. (Image source: Adobe Stock)

Nabors Drilling Technologies and Corva AI are expanding their strategic alliance into the RigCLOUD high-performance edge computing platform, to accelerate digital transformation in the drilling industry

“RigCLOUD Powered by Corva” is a fully integrated drilling intelligence solution that will combine Nabors’ edge and cloud computing platform with Corva’s industry-leading AI-driven analytics. Leveraging Corva’s Platform-as-a-Service and drilling solutions, Nabors aims to extend its operational reach across diverse data residency jurisdictions and accelerate entry into new markets by strengthening services for E&P customers and third-party drilling contractors.

RigCLOUD Powered by Corva will enhance real-time data processing, predictive insights, and performance optimisation, giving operators and contractors the ability to improve decision-making and maximise efficiency. It will enable:
• Seamless edge-to-cloud integration: Deliver a consistent, integrated experience across both remote and rigsite user environments through real-time rig data processing and cloud computing
• Drilling intelligence at the rigsite: Provide actionable insights to drilling crews directly on the rigsite through Corva applications, when bandwidth permits
• Flexible and scalable solutions for customers: Empower customers to use RigCLOUD and Corva independently or together, with the option to integrate the SmartROS rig operating system for additional automation solutions
• Joint application development: Allow Nabors and Corva to jointly create transformative AI and ML technologies for the drilling industry
• Market penetration – Cultivate new entry points with E&P customers and third-party drilling contractors.

“The expansion of our existing strategic alliance, integrating the RigCLOUD ecosystem with Corva, marks a significant next step in our digital strategy,” said Subodh Saxena, senior vice president of Canrig and Nabors Drilling Solutions.

“By combining RigCLOUD rig instrumentation and drilling automation apps with Corva’s industry-leading AI analytics, we are defining the future of drilling intelligence,” said Ryan Dawson, Founder and CEO at Corva. “We’ve reached a new milestone with Nabors, unifying edge and cloud solutions into a single platform that streamlines workflows and enhances operations across any rig fleet. Together, we’re setting new standards for drilling efficiency.”

Wood will deliver complex front-end projects for PDO. (Image source: Adobe Stock)

Consulting and engineering specialist, Wood, has secured a three-year contract to provide specialist technical support to oil producer, Petroleum Development Oman (PDO)

Under the contract, 65 of Wood’s engineering and project management specialists will form part of PDO’s front-end engineering design (FEED) office, delivering complex front-end energy transition and carbon capture projects for PDO.

The cohort will predominantly consist of Omani nationals, reinforcing Wood’s commitment to local talent development. The team will be complemented by Wood’s extensive network of global experts in delivering feasibility studies, pre-FEED and FEED solutions for all stages of the oil production value chain.

Gerry Traynor, President of Eastern Hemisphere Projects at Wood said, “Our new contract with Petroleum Development Oman underscores our commitment to providing quality, assured delivery for our clients on their critical project investments.

“Our decades of regional experience, combined with our growing portfolio, creates exciting opportunities for our people to deliver exceptional engineering and project management for energy companies like PDO that are committed to delivering a secure energy future.”

This reimbursable contract win adds to the sustained growth for Wood in the Middle East, with the company recently celebrating US$920mn worth of contract awards in the region in 2024.

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The use of LNG as a maritime fuel is growing. (Image source: Adobe Stock)

LNG remains the dominant alternative marine fuel readily available to the shipping industry, according to Lloyd’s Register’s (LR) latest Fuel for Thought report

The report highlights LNG’s growing adoption and its cost-effectiveness under tightening emissions regulations, and the growth in orders for LNG-capable vessels, with an expanding global fleet and rapidly growing bunkering infrastructure. Currently, 14% of all vessels on order will have LNG dual-fuel engines installed.

The report forecasts that LNG will remain the most cost-effective fuel choice for foreseeable transition pathways up to 2049. LR’s modelling suggests that LNG-fuelled vessels could generate substantial compliance savings compared to ships running on very low sulphur fuel oil (VLSFO), with additional benefits from regulatory mechanisms such as pooling.

However, the report cautions that LNG’s long-term sustainability depends on tackling methane slip — unburned methane emissions that reduce its overall GHG advantage— and that its ability to meet stricter targets in the 2040s will depend on advances in cleaner LNG production, particularly through biomethane and synthetic e-LNG, as well as the development of onboard carbon capture technologies.

Panos Mitrou, LR’s global gas segment director, said, “As regulations emerge that place a real financial impact on greenhouse gas emissions, ship operators are realising that LNG is one of few low-carbon fuels to be available immediately, widely, with established safety protocols and at relatively predictable cost.

“There are several opportunities to improve the long-term sustainability of LNG. These are already being addressed, and the measures that are being worked on – from cleaner production and supply processes to bio-LNG and OCCS, through the uptake of onboard methane abatement technologies, as well as regulatory acceptance of these improvements – are likely to increase uptake of LNG even further.”

The report also highlights specific examples of innovation, such as the use of high-manganese steel for LNG tanks, which has significantly reduced costs while maintaining cryogenic handling properties. This technology has been successfully implemented in vessels like the Advantage Tankers LLC’s VLCCs, demonstrating the increasing uptake of LNG across diverse vessel segments.

Nick Potter, president & CEO of AET, said, “LNG is a key component of AET’s Decarbonisation Strategy, providing immediate emissions reductions while we also invest in net-zero carbon solutions. Through our tiered decarbonisation strategy, we are integrating energy efficiency technologies, innovative propulsion systems, and future fuel capabilities, including ammonia, to help meet our 2030 GHG emissions intensity target.

“While LNG is a viable option today, its long-term role will depend on developments in bio-LNG, synthetic LNG, and the commercial and regulatory landscape for fuels such as methanol, ammonia, and hydrogen. We see LNG as part of a multi-fuel future, complementing alternative energy sources as we move towards our 2050 net-zero goal as part of the MISC Group.”