Offshore Oil & Gas
Deepwater exploration, offshore platforms, and subsea production.
Latest Offshore Stories
Chevron signs exploration deal offshore Greece
Chevron signs its second exploration deal offshore Greece since the current government took office in 2019. This agreement marks a continued interest in expanding exploration activities in the region.
SLB awarded offshore drilling contracts for Tangkulo development in Indonesia
SLB has been awarded multiple offshore drilling services contracts by Mubadala Energy for the Tangkulo natural gas deepwater development in Indonesia. The project aims to deliver first gas by the end of 2028 and includes a comprehensive scope of drilling and well services. This development is significant for Indonesia's long-term energy security.
Eni nears final investment decision for Indonesia's offshore gas projects
Eni is expected to reach its final investment decision next month for the Geng North and Gendalo-Gendang gas projects in Indonesia, with an estimated investment of $15 billion. The projects will be managed by a joint venture formed with Petronas. Production for the Geng North project is anticipated to start in late 2027.
Petronas partners with OQEP for offshore exploration in Oman
Petronas is partnering with OQEP for frontier exploration offshore Oman. This collaboration targets a large asset with significant potential.
BOEM announces Lease Sale Big Beautiful Gulf 2 for offshore energy development
The Bureau of Ocean Energy Management announced the Final Notice of Sale for Lease Sale Big Beautiful Gulf 2, offering approximately 15,066 unleased blocks covering about 80.4 million acres in the Gulf of America. The lease sale is scheduled for March 11, 2026, and aims to support offshore oil and gas development as part of the One Big Beautiful Bill Act. The Gulf of America is estimated to contain 29.59 billion barrels of undiscovered oil and 54.84 trillion cubic feet of natural gas.
Turan Drilling and Engineering secures $1 billion offshore contract in Caspian Sea
Turan Drilling and Engineering Company, a joint venture with Helmerich & Payne, has secured a five-year offshore operations and maintenance contract from bp in the Caspian Sea, effective March 2026. The contract could exceed $1 billion if all extension options are exercised. TURAN will provide services for eight offshore platforms, enhancing operational collaboration with bp.
Velesto secures $16.5 million drilling contract with Jadestone offshore Malaysia
Velesto has secured a $16.5 million drilling contract from Jadestone Energy for operations at the East Belumut field offshore Malaysia. The contract involves the NAGA 8 jack-up rig and is set to commence in March 2026, lasting four months. Jadestone's infill program has previously increased field output and reserves significantly.
Equinor extends West Saturn drillship contract offshore Brazil
Equinor exercised a 1-year option for the West Saturn drillship, adding $114 million to Seadrill's backlog and extending the contract through October 2027.
BW Offshore reports Q4 and full year 2025 financial results
BW Offshore reported Q4 2025 EBITDA of USD 47.8 million and full year EBITDA of USD 240.1 million. The company declared a quarterly cash dividend of USD 0.18 per share, totaling USD 67.0 million for 2025. BW Opal is progressing towards full production capacity by Q2 2026, with a transition to a volume-based rate expected in mid-March 2026.
Perenco installs $200 million platform offshore Congo-Brazzaville
Perenco has installed the Kombi 2 facility offshore Congo-Brazzaville, with an investment of $200 million. This facility is designed to revitalize oil and gas production from legacy assets in the region.
EnQuest secures four-year extension for offshore block in Vietnam
EnQuest has secured a four-year extension for its offshore block in Vietnam. This extension will allow the operator to advance discovered resources into reserves.
Murphy Oil increases capex and explores offshore Morocco
Murphy Oil Corp. plans to increase capital spending by up to $140 million this year, focusing on the Gulf of Mexico and new offshore opportunities in Morocco. The company expects total capex to rise to $1.2-1.3 billion in 2026, with significant investments in onshore assets and exploration projects. Production is forecasted to range between 167,000-175,000 boe/d for the year.
Saipem wins $500 million deal for Safaniyah offshore oilfield
Saipem has secured a $500 million contract to install a trunkline at Saudi Arabia's Safaniyah offshore oilfield. This project is part of the ongoing development of one of the world's largest oilfields.
Shell Offshore awards subsea intervention contract in Gulf of Mexico
Shell Offshore has awarded a $25-50 million contract to DOF's North American team for managing project execution, engineering, and vessel services. The contract will focus on delivering chemical fluids into subsea wells in the Gulf of Mexico, starting mid-2026.
OceanStar Elite wins EPCIC contract for Sepat redevelopment offshore Malaysia
OceanStar Elite has been awarded the Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) contract for the Sepat redevelopment project offshore Malaysia by Petronas. This contract involves the construction of a floating production storage and offloading (FPSO) unit.
Aquaterra Energy secures multi-well intervention contract offshore Spain
Aquaterra Energy has secured a multi-year, seven figure contract to deliver a subsea well access solution for intervention and abandonment activities across 11 wells offshore Spain. The project will utilize a semi-submersible vessel and include a 7-3/8 in. ID, 5000 psi rated intervention riser system. This contract highlights the growing demand for efficient plugging and abandonment operations in aging offshore fields.
Aikido launches floating offshore datacenter technology for AI compute
Aikido Technologies introduces AO60DC, a floating offshore wind platform designed to host AI-grade compute alongside wind generation and battery storage. The platform can support 10–12MW of compute with a 15–18MW wind turbine, targeting gigawatt-scale AI infrastructure. A proof-of-concept unit is under development in Norway, with the first commercial project planned for the UK by 2028.
TGS awarded 4D streamer acquisition contract offshore Norway
TGS has been awarded a 4D streamer acquisition contract in the North Sea, offshore Norway, scheduled to run for approximately 65 days starting in Q2 2026. The contract involves the use of a Ramform vessel and aims to optimize oil and gas production for a repeat customer. TGS emphasizes its capabilities in conducting monitoring surveys in the area using its proprietary GeoStreamer technology.
UK North Sea gas production estimates revised upward by Offshore Energies UK
Offshore Energies UK reports gas production estimates that are double those of the North Sea Transition Authority. This discrepancy highlights differing assessments of the North Sea's gas production potential.
SLB signs offshore drilling contracts for Tangkulo gas project in Indonesia
SLB has signed multiple offshore drilling service contracts with Mubadala Energy for the Tangkulo gas deepwater development project in Indonesia. The contracts aim for first gas production by the end of 2028 and include integrated drilling and well services covering the entire well lifecycle. This project is significant for Indonesia's long-term energy security.
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