Topic
contracts
Logistics Solstad Offshore Wins $62m Petrobras CSV Contract Offshore Brazil
Solstad Offshore has won a two-year, $62m contract from Petrobras for the construction support vessel Normand Valiant, starting in Q4 2026. The vessel will provide accommodation services on the Brazilian continental shelf. The Normand Valiant is owned by Solstad Maritime and chartered to Solstad Offshore under a bareboat arrangement.
Commodities ExxonMobil awards $1.1bn in Mozambique LNG project deals ahead of FID
ExxonMobil has awarded approximately $1.1bn in pre-investment contracts for the Rovuma LNG Phase 1 development in Mozambique, covering subsea production systems, valves, and line pipe. The awards, reported by Splash247, enable suppliers to begin fabrication ahead of a final investment decision and support the 18.6 mtonnes-per-year onshore LNG facility.
Commodities Transocean adds $292m to backlog with Gulf of Mexico and Africa rig deals
Offshore drilling contractor Transocean has secured two contract extensions and one new contract for three rigs, adding approximately $292m in incremental backlog. The deals include a $530,000/day extension for Deepwater Conqueror in the US Gulf of Mexico and a $361,000/day extension for Deepwater Skyros with Murphy in Ivory Coast. Total backlog is approximately $6.7bn, excluding the pending $1bn Equinor package.
Commodities Valaris Lands New Contracts as Backlog Reaches $4.6bn
Offshore driller Valaris boosted its contract backlog to $4.6bn after securing a batch of new deals and extensions, according to Splash247. The new contracts and extensions add around $160m to the backlog, including a 1,080-day plug and abandonment contract for the Valaris 248 jackup and a postponed Occidental drillship contract in the Gulf of Mexico.
Logistics Vantris Energy boosts orderbook with $202.78m offshore contract haul
Vantris Energy, formerly Sapura Energy, has secured contracts worth about RM830m ($202.78m) for offshore transportation and installation works and tender-assisted drilling rig services, according to Splash247. The awards include a work order from Petronas Carigali and a new drilling contract from Vestigo Petroleum, lifting the company's orderbook to more than RM6bn ($1.47bn).
Commodities Técnicas Reunidas wins $5.75bn EPC contract haul from ADNOC for Upper Zakum
Técnicas Reunidas has secured two contracts worth more than €5bn ($5.75bn) from ADNOC for the Upper Zakum megaproject, marking its largest-ever award as sole contractor. The EPCI packages will support expansion of the world's second-largest offshore oil field to 1.5m barrels per day.
Logistics Norwegian offshore vessel owner DOF wins AHTS contracts and Petrobras PLSV extensions
Norwegian offshore vessel owner DOF has won two new AHTS vessel contracts and two long-term Petrobras extensions in Brazil, according to Splash247 Maritime. The AHTS contracts, each worth $15m-$25m, start in Q4 2027, while PLSVs Skandi Buzios and Skandi Recife are extended through January 2028.
Commodities Saipem secures €800m in Ivory Coast offshore and Italy biorefinery contracts from Eni
Italian energy services contractor Saipem has been awarded two new contracts valued at approximately €800m ($913m): one for Eni's Baleine Phase 3 project offshore Ivory Coast and another for a deoxygenation unit at Enilive's biorefinery in Venice, Italy. These awards follow a $260m offshore drilling contract for Saipem's Santorini drillship, also from Eni Côte d'Ivoire.
Logistics New IATA Airway Bill Rules Shift Liability Risk to Freight Forwarders
Effective July 1, IATA's revised direct airway bill framework shifts liability for misdeclared goods, concealed dangerous goods, and unsafe packaging from shippers to freight forwarders. Logistics providers and trade associations warn of increased risk exposure, citing a rushed process and inconsistent airline-specific regimes.
Commodities Equinor Awards $600M in Subsea Contracts to Accelerate Norwegian Continental Shelf Development
Norwegian energy giant Equinor has awarded contracts worth around $612 million for four subsea projects as part of the first of several planned development waves. The projects—Brime, Omega Sør, Tyrihans Nord, and TWIN—will contribute between 130 and 220 million barrels of oil equivalent to future production. Key contractors include TechnipFMC, OneSubsea, Ocean Installer, Tenaris, and NOV. Equinor aims to halve costs and execution time through standardisation.
Commodities Dolphin Drilling Secures Contract Extension for Blackford Dolphin Semisub in India
Dolphin Drilling has secured an extension for its 1974-built semisubmersible rig Blackford Dolphin under contract with Oil India Limited. The extension runs until at least August 28, 2026, to complete drilling, testing, and abandonment work east of India, under existing terms. The initial $154 million contract was awarded in March 2024 but delayed due to a prior arrest order.
Commodities Saipem and TechnipFMC Secure Over $1bn in Contracts for Angola's Greater PAJ Offshore Oil Project
Saipem and TechnipFMC have been awarded contracts worth over $1bn for the Greater PAJ project offshore Angola, operated by Azule Energy (Eni/BP JV). Saipem's $1bn contract covers subsea pipeline installation, while TechnipFMC's deal valued at $75-250mn involves flexible flowlines. First oil is expected in the first half of 2029, adding 95,000 bpd of production capacity.
Commodities Transocean Secures $185M in New Contracts for Norway and Australia Semisubmersibles
Transocean has secured contract awards for two harsh-environment semisubmersibles, adding approximately $185m in firm backlog. The Transocean Norge will drill five wells for Harbour Energy in Norway, while the Transocean Equinox will work for Santos in Australia, with dayrates ranging from $456,000 to $540,000.
Gaming-Resistant Insurance Contracts for Autonomous AI Agents: Strategy-Proof Toll Mechanism Design
A new paper presents a gaming-resistant insurance contract framework for autonomous AI agents, defining a five-attack space and proving incentive compatibility through common-control aggregation, interface-compliance escalation fees, and a model-identity menu with penalty schedule.
Business House Passes Faster Labor Contracts Act, Compressing Union Negotiation Timeline
The U.S. House passed the Faster Labor Contracts Act (H.R. 5408) on June 9, 2026, by a vote of 230-193, imposing a compressed federal timeline for first contract negotiations between employers and newly certified unions. The bill, sponsored by Representative Donald Norcross, now moves to the Senate where it faces a 60-vote threshold. The legislation could significantly affect union organizing and first-contract dynamics in sectors like trucking.
Supply Chain Long Beach Port Awards $54M in Small Business Contracts, Exceeding Goals
The Port of Long Beach awarded $54.4 million in services and materials contracts to small businesses in the 2025 fiscal year, achieving a 44.6% utilization rate — well above its 27% goal. The port's Small Business Enterprise Program, one of the most ambitious among California ports, is designed to prepare local firms for the port's plan to double cargo handling capacity to 20 million containers annually by 2050.
Technology Google director quits over Pentagon AI contracts, cites lost moral compass
René Mayrhofer, a Google director for Android platform security, resigned over the company's decision to allow the Pentagon to use its AI models for any lawful purpose. In an internal letter titled 'Google Management Has Lost Its Moral Compass,' he cited abandonment of carbon-neutral goals and deals with the 'US Ministry of War.' The resignation follows employee protests and Google's removal of its AI weapons ban.
Manufacturing BHEL wins Rs 2,000 crore order from Nigerian firm
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Business SBM Offshore Secures Petrobras FPSO Contracts in Brazil
SBM Offshore has secured contracts from Petrobras for two FPSO projects in Brazil's Sergipe-Alagoas basin. These contracts are expected to enhance Brazil's domestic gas supply and minimize offshore flaring.