Topic
oil and gas
Commodities TGS Secures 100-Day Ocean Bottom Node Seismic Contract for AMME Region
Oslo-listed seismic specialist TGS has won a new 100-day ocean bottom node (OBN) contract from an undisclosed client in the Africa, Mediterranean, and Middle East (AMME) region. The project, mobilizing in Q4 2026, extends into 2027 and highlights TGS's integrated business model. Separately, TGS announced multi-client reprocessing work in Norway, Canada, and a new 2D-cubed project in Ghana.
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.
Commodities TGS Expands Global Seismic Footprint with Three New Projects in Norway, Canada, and Ghana
TGS has initiated three new seismic projects: the Atlantic Margin South Reprocessing in Norway, Orphan 3D PSDM phase 2 in Canada, and a 2D-cubed project in Ghana's Keta Basin. The projects employ advanced imaging technologies and are supported by industry funding. Deliveries are scheduled from Q3 2026 through Q1 2027.
Commodities Eni Awards Saipem $260m Contract for Santorini Drillship in Ivory Coast Campaign
Eni's subsidiary Eni Côte d'Ivoire Limited has awarded Saipem a $260m contract to deploy the Santorini drillship offshore Ivory Coast for a long-term development drilling campaign starting early 2027. The campaign is linked to the Baleine Phase 3 project, which will increase oil production to 150,000 bpd and gas to 200 mmcfd.
Commodities Chevron Pulls Personnel from Gulf Assets Ahead of Tropical Storm Bertha
Chevron has shut in production at its Petronius facility and evacuated personnel from Tubular Bells and Blind Faith platforms in the U.S. Gulf of Mexico as tropical storm Bertha approaches. The National Hurricane Centre issued a tropical storm watch for parts of Florida and Louisiana. Earth Science Associates estimates up to 2 million barrels of oil production could be affected, sharply higher than the 10,000 barrels impacted by tropical storm Arthur last month.
Business Vår Energi Acquires BlueNord in $1.33 Billion Deal to Become Europe's Largest Independent Oil and Gas Producer
Norwegian oil and gas company Vår Energi has agreed to acquire BlueNord in a transaction valued at approximately $1.33 billion, combining assets on the Norwegian and Danish Continental Shelves. The merged entity will become Europe's largest independent oil and gas producer, with long-term production of around 450,000 barrels of oil equivalent per day, low operating costs, and access to two new European gas delivery points.
Commodities Aker BP Extends Odfjell Drilling's Deepsea Nordkapp Rig Charter Through 2028
Oslo-listed Odfjell Drilling received signed confirmation from Aker BP to extend the firm contract period for the 2019-built Deepsea Nordkapp semisubmersible rig by one year, extending its backlog to end-2028. The operating rate for the extension will be set by end-2026 using two independent rig brokers, reflecting market rates. Aker BP retains further options beyond 2028.
Commodities Tetragon Energy Awards Seismic Reprocessing Contract to DUG Technology for Philippines Permits
Perth-based Tetragon Energy has awarded a $1.45m seismic reprocessing contract to DUG Technology for its Philippines permits SC-80 and SC-81. The work will reprocess old 3D and 2D data to improve prospectivity and support farm-in talks. Managing Director Conrad Todd said the results will underpin discussions with potential partners.
Commodities Unity Expands into Asia with Rigless Intervention Contract in Malaysia
Aberdeen-based well-integrity specialist Unity has entered the Asia-Pacific market with a three-well rigless intervention contract in Malaysia, partnering with Reservoir Link for an international offshore operator. The deal deploys Unity's surface intervention system (SIS), which eliminates the need for support vessels and is suited to ageing assets. This marks a strategic step in Unity's regional expansion.
Commodities TotalEnergies Awards Halliburton Integrated Drilling Contract for GranMorgu Offshore Suriname
Houston-based Halliburton has secured integrated well construction contracts from TotalEnergies for the GranMorgu deepwater project in Block 58, offshore Suriname. The agreement includes drilling and completion services, with Halliburton deploying digital and automated execution to improve performance and reduce costs. First oil is expected in 2028, with production capacity of up to 220,000 barrels per day.
Commodities Fugro Wins Survey Contract for UK's First Offshore CO2 Storage Project
Dutch surveyor Fugro has been awarded a contract by Saipem to deliver integrated marine survey and inspection services for the Northern Endurance Partnership (NEP), the UK's first CO2 transportation and storage infrastructure project. The project, a joint venture between BP, Equinor, and TotalEnergies, aims to decarbonise carbon-intensive industrial regions with up to 1bn tonnes of CO2 storage capacity beneath the North Sea.
Supply Chain Norway Offshore Labour Conflict Escalates: Lockout Threatens Oil and Gas Supply Chains
A growing strike by members of the Norwegian Union of Energy Workers (SAFE) on the Norwegian continental shelf is disrupting drilling and well operations, prompting offshore employers to prepare a large-scale lockout. The industrial action has already halted four IMR vessels, one well-intervention vessel, and two rigs, imposing high costs on suppliers and delaying oil and gas production. The dispute centres on a collective wage agreement, with SAFE calling it a 'dumping agreement' and Offshore Norge rejecting that label.
Commodities TotalEnergies Awards Decommissioning Contract to Ocean Installer for Three North Sea Fields
TotalEnergies has awarded a contract to Ocean Installer for decommissioning work on three North Sea fields: Byggve, Skirne, and Atla. The project involves recovery of around 1,000 tonnes of subsea structures and pipelines, with most equipment to be recycled. The offshore campaign is scheduled for 2027, and the contract is valued in the NOK 100m to NOK 500m range.
Commodities Aker Solutions Secures Five-Year Offshore Services Contract with Cenovus Energy in Canada
Norway’s Aker Solutions has signed a five-year agreement with Cenovus Energy for engineering and maintenance services on the White Rose field offshore Newfoundland. The contract covers support for the West White Rose platform and SeaRose FPSO, with work led from St. John's and involving approximately 120 employees.
Commodities Oceaneering Secures Six-Month Offshore Survey Contracts for Trinidad and Gulf of Mexico
Houston-based Oceaneering International has secured multi-discipline offshore survey contracts for its Ocean Intervention II vessel to support offshore development programs for an undisclosed operator. The work, spanning approximately six months, covers Trinidad (four months) and the US Gulf of Mexico (two months), including 2D/3D seismic, AUV surveys, seabed sampling, and pipeline inspections.
Business Eldorado Drilling Completes $257M Acquisition of Vantage Drilling
Eldorado Drilling has completed its $257m acquisition of Vantage Drilling, creating a combined fleet of five rigs. Vantage will become an indirect subsidiary and delist from the Oslo stock exchange. The deal is funded by $125m in equity from Eldorado's principal shareholder.
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 TechnipFMC awarded Eni contract for Baleine Phase 3 subsea work offshore Ivory Coast
TechnipFMC has been awarded a significant subsea contract by Eni for the Baleine Phase 3 development offshore Ivory Coast, the largest hydrocarbon discovery in the country. The deal, valued between $75 million and $250 million, covers flexible flowlines and risers for a new FPSO capable of processing 90,000 barrels of oil per day, adding to global crude supply.
Commodities Saipem Wins $2 Billion FPSO Contract for Eni's Kutei North Hub in Indonesia
Italian energy contractor Saipem, in a joint venture with PT Tripatra Engineers and Constructors, has been awarded a $2 billion contract for the engineering, procurement, construction and installation of an FPSO for Eni's Kutei North Hub Field Development Project in Indonesia. The contract was awarded by Eni North Ganal, a company controlled by the Eni-Petronas joint venture Searah. The project includes subsea development, a new FPSO, and a gas export pipeline to the Bontang LNG Plant.
Commodities Eni Extends Ventura Offshore Rig Contract in Indonesia, Adding $25.1 Million to Backlog
Italian energy giant Eni has exercised an option to extend the contract for Ventura Offshore's semisubmersible rig SSV Catarina in Indonesia. The extension adds approximately $25.1 million to the company's firm backlog and keeps the rig utilized into the fourth quarter of 2026.
Commodities Archer Wins Plug and Abandonment Work on Beryl and Forties Fields for Apache North Sea
Norwegian offshore service provider Archer has won a contract with Well-Safe Solutions for plug and abandonment (P&A) activities in the UK North Sea on the Beryl and Forties fields, operated by Apache North Sea. The decommissioning project covers seven platforms and more than 260 wells, with Archer providing drilling services, wireline, coiled tubing, and specialty P&A services.
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 Petrobras Awards Oceaneering Four-Year ROV Services Contract Offshore Brazil
Oceaneering International has secured a four-year contract from Petrobras to provide ROV services offshore Brazil. The contract, awarded to its Brazilian subsidiary, includes two work-class ROVs and tooling packages, with deployment from AKOFS Offshore's vessel Aker Wayfarer starting in 2027.
Commodities Equinor Acquires BP's Stake in $10bn Bay du Nord Project Offshore Canada
Norwegian energy major Equinor has reached an agreement with BP to acquire its interest in the Bay du Nord project offshore Canada, taking full ownership. The transaction reflects BP's portfolio simplification and gives Equinor flexibility to mature the project towards a final investment decision in early 2027. First oil is expected in 2031 from the Flemish Pass basin development, with an estimated investment of around CAD 14bn ($9.85bn).
Commodities Wison New Energies Signs EPCIC Contract for Ivory Coast FPSO with Eni and Altera
China's Wison New Energies has signed an EPCIC contract with Eni and Altera Infrastructure for the Baleine Phase 3 FPSO facility offshore Ivory Coast. The FPSO will process up to 90,000 barrels of oil per day and 160 million standard cubic feet of natural gas per day, with a design life of at least 20 years.
Logistics DOF Secures Two-Year Equinor Contract Extension for Skandi Vega Until Q3 2029
Norwegian offshore vessel owner DOF has secured a two-year contract extension from Equinor for the anchor handling tug supply vessel Skandi Vega. The extension, exercised through options, makes the contract firm until the third quarter of 2029. The vessel has been continuously serving Equinor since its construction in 2010.
Logistics Simon Møkster secures new PSV frame deal with Aker BP for four-year term
Norwegian shipowner Simon Møkster Shipping has signed a new four-year frame agreement with oil and gas player Aker BP for PSV services, with two additional two-year options. The deal includes provisions for improved vessel operations and emissions reduction. It follows a similar agreement between Aker BP and Eidesvik Offshore, extending a partnership first established in 2019.
Logistics DOF Secures One-Year MPSV Extension for Skandi Darwin in Australia Through Q3 2027
Norwegian offshore vessel owner DOF has secured a one-year extension for the multipurpose supply vessel Skandi Darwin in Australia. The extension will keep the vessel working for its current client until the third quarter of 2027. Financial terms and client name were not disclosed, but the vessel previously served Shell's Prelude FLNG facility.
Commodities Lightning Strike Sparks Fire at Offshore Platform off Sarawak, Malaysia
A lightning strike sparked a fire at the West Lutong offshore platform off Sarawak, Malaysia, on Sunday afternoon. Operator Vestigo Petroleum confirmed the fire was brought under control with no injuries or environmental threat. A shut-off valve was closed as a precaution. Investigations are ongoing.
Commodities Semco Maritime Wins Five-Year Offshore Services Contract with INEOS in Danish North Sea
Danish contractor Semco Maritime has been awarded a five-year framework contract by energy group INEOS for onshore and offshore services in the Danish North Sea. The agreement, running from June 2026 to May 2031 with two-year extension options, covers the supply of skilled workers and a range of technical services to support INEOS’s installations.
Commodities Vår Energi Takes FID on Gjøa Subsea Projects, Strengthens North Sea Hub
Vår Energi has announced a final investment decision on the Gjøa Subsea Projects in the North Sea, comprising the Ofelia, Gjøa Nord, and Cerisa discoveries. The project, with 76 million boe of proved plus probable reserves and a breakeven below $35 per barrel, is expected to start production in phases from 2027. This supports Vår Energi's long-term target of over 400,000 boe per day.
Logistics SeaBird Exploration Secures West Africa OBN Source Work for Fulmar Explorer in 2026
Marine seismic specialist SeaBird Exploration has secured a contract for ocean bottom node (OBN) source work in West Africa, deploying the survey vessel Fulmar Explorer. The three-month campaign is scheduled to begin after the vessel's five-year classing in August 2026.
Logistics Modec to Supply Turret Mooring System for Mozambique’s Coral Norte FLNG Project
Modec has secured a contract to provide a SOFEC internal turret mooring system for the Coral Norte FLNG project offshore Mozambique. Developed by Eni and its partners, the project achieved FID in October 2025 and hull launch in January 2026, with first LNG expected in 2028. The system is critical for safe operations in the Rovuma Basin.
Trade Why ONGC Is Eyeing Two Oilfields in Venezuela; Seeks US Approval for PDVSA Acquisition
ONGC is in discussions with Venezuela's PDVSA to acquire stakes in two oilfields, subject to US sanctions approval. The Indian state-owned company seeks operational control to boost production and recover $500 million in dividends.
Commodities ADES Deepens Saudi Presence with $285M Acquisition of Saipem’s Drilling Subsidiary
ADES has agreed to acquire Saipem's Saudi Arabian subsidiary for $285 million, adding five premium jackup rigs. The deal strengthens ADES' position in Saudi Arabia and marks its entry into Mexico, increasing its fleet to 88 offshore units and adding approximately $1 billion to its backlog.
Commodities CIMC Raffles Signs Contract for Azule Energy's Greater PAJ FPSO Project Offshore Angola
Chinese yard CIMC Raffles has signed an EPCIC contract for the Azule Energy-led Greater PAJ FPSO project offshore Angola. The FPSO will have a production capacity of 95,000 barrels of oil per day and a gas export capacity of 70 million cubic feet per day, with first oil expected in H1 2029. Saipem and TechnipFMC have also been awarded contracts for transportation and flexible flowlines respectively.
Supply Chain Energy Transition Report Warns of Offshore Workforce Cliff Edge Threatening North Sea Skills
A new report from Robert Gordon University's Energy Transition Institute warns that the next five years will be decisive for the North East of Scotland's offshore workforce. The region could lose 18,000 jobs by 2035, threatening a permanent loss of skills built over decades of North Sea activity. The report calls for a coordinated approach combining private capital and public investment to manage the transition.
Logistics Seacor Marine’s Largest Shareholder Demands Fleet Sale Worth More Than $1 Billion
Seacor Marine’s biggest shareholder, Pointillist Family Office, has sent a letter to the board demanding a sale of the company or its fleet, valued at over $1 billion. The shareholder argues the current $181 million market capitalization severely undervalues the high-specification fleet, and recommends an outright corporate sale or structured asset monetization.
Commodities Adura Hires Shearwater for 4D Seismic Campaign at Mariner Field in UK North Sea
Norwegian seismic player Shearwater Geoservices has been awarded a 4D seismic acquisition project for the Mariner field in the UK North Sea by Adura, a joint venture between Shell and Equinor. The one-month survey starting July 2026 will use isometrix technology to support reservoir monitoring.
Commodities TGS and SLB Launch Pelotas Sul 3D Seismic Survey Offshore Southern Brazil
Oslo-listed seismic data specialist TGS, in a joint venture with SLB, has announced the Pelotas Sul Phase 1 multi-client 3D seismic survey in the Pelotas Basin offshore southern Brazil. The survey covers approximately 13,500 sq km, with the Ramform Tethys mobilised and data acquisition expected to be completed in early Q3 2026. The Pelotas Basin has seen growing interest due to geologic analogues and underexplored play concepts.
Commodities BP Taps DeepOcean for Foinaven Subsea Decommissioning Campaign
Norwegian ocean services player DeepOcean has secured a contract with BP for the decommissioning and recycling of subsea equipment at the Foinaven field. The scope includes removal of ten flexible process risers and three dynamic subsea umbilicals from the former FPSO location. The project will be managed from DeepOcean's Aberdeen base and builds on previous decommissioning work at Don and Miller fields.
Commodities Unnamed North Sea Operator Extends Odfjell Technology Drilling Services Contract to 2028
An unnamed North Sea operator has exercised a two-year option to extend its drilling services contract with Odfjell Technology. The firm period now runs to November 2028, with a further two-year option. Odfjell Technology has supported the asset since 2019, and the contract covers comprehensive drilling operations, maintenance, and repairs.
Commodities Vår Energi Approves Seven-Well North Sea Development with 2027 Start-Up
Norwegian oil and gas company Vår Energi has taken a final investment decision on the Balder Next New Wells project in the North Sea. The seven-well development tied back to the Jotun FPSO will develop 86 million barrels of oil equivalent (boe) gross in proved plus probable reserves, with first oil expected in the fourth quarter of 2027. The project has a breakeven of around $30 per boe and an internal rate of return exceeding 35%.
Logistics Three60 Energy Secures Long-Term Project Support Contract with Vår Energi
Three60 Energy has been awarded a long-term project support agreement with Vår Energi. The initial term is four years with options to extend. The contract covers drilling, wells, and subsurface disciplines, contributing to safe and efficient operations.
Commodities PNGRB Urges Oil and Gas Companies to Enhance Compensation for Accident Victims
The Petroleum and Natural Gas Regulatory Board (PNGRB) has urged oil and gas companies in India to review and strengthen their compensation policies beyond statutory requirements to ensure adequate support for families of workers killed or permanently disabled in accidents. The regulator has been publicly disclosing policies to encourage better practices, and while some entities have improved, others have yet to adequately revise their frameworks.
Commodities ExxonMobil Proposes 35-Well Exploration Campaign Offshore Guyana in Stabroek Block
US supermajor ExxonMobil has proposed a new exploration and appraisal drilling campaign in the Stabroek block offshore Guyana, involving 35 wells across four prospect areas. The campaign is scheduled from 2028 to 2033, with a 28-day public consultation period opened by the Guyana Environmental Protection Agency. ExxonMobil currently produces 900,000 barrels per day in Guyana and plans to increase capacity to 1.7 million bpd by 2030.
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.
Commodities Petrobras Awards $88.75M Decommissioning Contract to OceanPact for Marlim Field
Brazilian offshore vessel owner OceanPact has secured a R$443.7m ($88.75m) contract from Petrobras to provide pull-out and collection services for flexible lines in the decommissioning of stationary production units at the Marlim field. The work will focus on the risers of the P-18 platform in the Campos Basin. This contract follows a previous decommissioning deal worth over R$1bn with Trident Energy, also in the Campos Basin.
Logistics GE Offshore Marine Services Secures Five-Year AHTS Charter with Trident Energy in Equatorial Guinea
UK oil and gas operator Trident Energy has awarded GE Offshore Marine Services a five-year charter for the anchor-handling tug and supply (AHTS) vessel Red Tiger to support operations offshore Bata, Equatorial Guinea. The 2008-built, 120-tonne diesel-electric vessel also features a newly installed 50-tonne crane and will support ROV operations with DeepOcean. The vessel has departed Vigo, Spain, and is scheduled to arrive in Bata on June 27.
Commodities SLB OneSubsea wins BP contract for Thunder Horse subsea boosting system in Gulf of Mexico
SLB OneSubsea, a joint venture of SLB, Aker Solutions, and Subsea7, has secured an engineering, procurement, and construction contract from BP for a subsea boosting system on the Thunder Horse project in the US Gulf of Mexico. The award follows recent boosting contracts for BP's Kaskida and Tiber developments, all using a standardized solution to improve efficiency and shorten delivery times. Thunder Horse is the world's largest moored semi-submersible production platform, capable of over 200,000 boe/d.
Commodities Shearwater Wins ExxonMobil Seismic Survey Work Offshore Guyana for Yellowtail Fi
Norwegian seismic company Shearwater Geoservices has been awarded a distributed acoustic sensing (DAS) seismic program by ExxonMobil in the Stabroek Block offshore Guyana. The two-month scope involves source-only acquisition for a baseline reservoir surveillance survey over the Yellowtail development area, using the SW Empress vessel in triple-source configuration. Yellowtail is ExxonMobil's fourth and largest deepwater project in the block, with a production capacity of 250,000 bpd and 2 million barrels storage.
Logistics SBM Offshore Sells Stake in Trion Field FSO to NYK
SBM Offshore has sold a 45% stake in the Trion field FSO to NYK, retaining a 55% majority. The FSO Chalchi, under construction, will operate under a 20-year lease with Woodside Energy.