Offshore Oil & Gas
Deepwater exploration, offshore platforms, and subsea production.
Latest Offshore Stories
QatarEnergy partners with TotalEnergies and ConocoPhillips for offshore exploration in Syria
QatarEnergy has signed a memorandum of understanding with TotalEnergies, ConocoPhillips, and the Syrian Petroleum Company for offshore oil and gas exploration in Block 3, Syria. The agreement includes a technical review of the block's potential and sets the stage for further discussions. Block 3 is located in the Levantine Basin with water depths between 100 and 1,700 meters.
bp signs offshore gas exploration deal with Venezuela
bp Plc and Venezuela have agreed on a memorandum of understanding to explore for offshore natural gas. The deal aims to establish potential areas for cooperation in gas exploration as Venezuela seeks to revive its energy sector. This agreement follows an energy conference in Caracas that attracted international companies and investors.
Seven states sue over cancellation of offshore wind lease by TotalEnergies
Seven U.S. states, led by New York, have filed a lawsuit against the federal government and TotalEnergies for canceling an offshore wind lease. The cancellation, which involved a $795 million reimbursement and a pledge for fossil fuel investments, is claimed to undermine clean energy development. The project was expected to supply power to 1.3 million homes in New York and New Jersey.
BP set to take over offshore natural gas project in Azerbaijan
BP is preparing to take over an offshore natural gas project in Azerbaijan, according to sources. This move indicates BP's continued investment in natural gas resources in the region.
TotalEnergies signs offshore exploration deal in Egypt
TotalEnergies has signed a provisional agreement with the Egyptian Natural Gas Holding Co. to explore offshore areas in northwestern Egypt. This deal marks a significant step in expanding exploration activities in the region.
Velesto secures jackup drilling contract with Hibiscus offshore Malaysia
Velesto has secured its first asset-light jackup drilling contract with Hibiscus for an offshore campaign in Malaysia. The contract includes drilling services for eight plug and abandonment wells and one exploration well, with operations set to begin in May 2026. If exercised, the contract could extend to seven additional optional wells.
BW Offshore signs FEED agreement for Bay du Nord FPSO with Equinor
BW Offshore has signed a Front-End Engineering and Design (FEED) agreement with Equinor for the Bay du Nord development offshore Newfoundland and Labrador. This agreement marks the next phase of the project, aiming for a final investment decision in 2027. The FEED phase will run through the end of 2026, focusing on maturing the FPSO design and project execution plan.
ONGC partners with BP to enhance offshore oil and gas extraction
ONGC has formed a strategic alliance with BP to improve oil and gas extraction from its aging offshore fields in western India. This partnership aims to revitalize production levels, leveraging successful outcomes from their previous collaboration at Mumbai High.
Weatherford awarded contracts for offshore drilling and intervention in Brazil
Weatherford International has secured two contracts with Constellation Oil Services for offshore operations in Brazil, focusing on well intervention and drilling activities. The first contract enhances services on the Gold Star semisubmersible, while the second supports a drilling campaign in the Búzios Field. Both contracts reinforce Weatherford's presence in Brazil's deepwater market and are set to run through 2028 and 2030, respectively.
TotalEnergies applies for authorization of $5.2 billion offshore wind project in Normandy
TotalEnergies has applied for authorization for a 1.5-GW offshore wind project off Normandy, costing approximately $5.2 billion. The project, which will generate around 6 TWh per year, aims to supply green electricity to over one million homes. Construction is expected to employ up to 2,500 people over three years.
Chevron files request to acquire offshore Greek block
Chevron has submitted a request to acquire an offshore oil and gas exploration block in Greece, according to the energy ministry. This move indicates Chevron's interest in expanding its operations in the Eastern Mediterranean region.
Thailand cancels offshore energy exploration pact with Cambodia
Thailand has unilaterally terminated a 25-year agreement with Cambodia for joint offshore energy exploration in the Gulf of Thailand. The decision follows a history of political instability and border conflicts between the two nations. Cambodia's Foreign Minister expressed regret and emphasized the need for peaceful resolution under international law.
Bangladesh launches offshore oil and gas tender for foreign investment
Bangladesh seeks foreign investment for offshore oil and gas exploration to boost domestic gas supply and reduce LNG imports. The initiative targets 26 offshore blocks in the Bay of Bengal with new production sharing contracts offering more favorable terms to international companies.
Iran resumes gas production at three South Pars offshore platforms
Iran has restored gas production at three offshore platforms in the South Pars gas field after a temporary halt due to Israeli attacks disrupting onshore processing facilities. The platforms were not damaged and are now routing production to other processing plants while repairs are ongoing at affected facilities.
EnerMech secures subsea contract for Trion project offshore Mexico
EnerMech has been awarded a subsea contract for the Trion project located offshore Mexico. This contract involves pre-commissioning work for an ultra-deepwater project.
Petrobras finalizes deal with SBM Offshore for two FPSOs in Sergipe
Petrobras is finalizing a contract with SBM Offshore for two floating production vessels, P-81 and P-87, for its Sergipe deepwater project. The deal is expected to be signed soon, according to Petrobras' CEO Magda Chambriard.
Subsea7 awarded EPCI contract by ExxonMobil offshore Angola
Subsea 7 has been awarded a substantial engineering, procurement, construction, and installation contract by ExxonMobil for the Redevelopment 2.0 Likembe Project in Block 15, offshore Angola. The contract is valued between $150 million and $300 million and will involve project management from Subsea7's offices in multiple locations, with execution support from SLB OneSubsea in Norway. This project aims to enhance local capabilities in Angola while reinforcing the partnership between Subsea Integration Alliance and ExxonMobil.
Contractor awarded deal for Qatar's Bul Hanine offshore oilfield project
A contractor has secured a significant deal for the Bul Hanine project, which is essential for enhancing production at Qatar's largest offshore oilfield. This project is part of Qatar's broader strategy to maintain and expand its oil production capabilities.
ABS partners with HD Hyundai Heavy Industries for offshore resilience
ABS and HD Hyundai Heavy Industries have signed a memorandum of understanding to enhance operational resilience in the offshore sector. This collaboration aims to improve the efficiency and safety of offshore operations.
BW Offshore reports Q1 2026 results with EBITDA of USD 47.9 million
BW Offshore reported Q1 2026 EBITDA of USD 47.9 million and operating cash flow of USD 43.3 million. The company restarted production at BW Opal and signed a Front-End Engineering and Design agreement with Equinor for the Bay du Nord FPSO. Full-year EBITDA guidance was revised to USD 310-340 million due to reduced commercial uptime on BW Opal.
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