Offshore Oil & Gas
Deepwater exploration, offshore platforms, and subsea production.
Latest Offshore Stories
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.
Shell secures exploration license for 19 blocks offshore Sierra Leone
Shell has obtained a reconnaissance license to conduct geological and geophysical studies across 19 offshore blocks in Sierra Leone. This exploration deal enables the company to assess potential oil and gas resources in the region.
BP and ADNOC approve Harmattan gas project offshore Egypt
BP and ADNOC's joint venture, Arcius Energy Egypt Ltd, has approved a $500 million investment for the Harmattan gas project offshore Egypt. The project aims to increase natural gas production to meet domestic market needs and is expected to start production in 2028. It involves drilling up to three wells and installing a fixed offshore platform connected to onshore processing facilities.
US redirects $885 million from offshore wind to oil and gas investments
Two offshore wind developers have agreed to cancel their projects and redirect $885 million towards investments in U.S. fossil fuels. This decision follows negotiations with former President Trump, marking a significant shift in funding from renewable energy to traditional energy sources.
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.
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.
ONGC cancels and relaunches offshore rig tender
ONGC, which accounts for nearly 75% of India's crude oil output, cancels a significant offshore rig tender but quickly relaunches it. The company is investing heavily in exploration and development to sustain and increase production levels.
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.
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.
Engie negotiates with Trump administration to relinquish offshore wind leases
Engie is in discussions with the Trump administration regarding the surrender of its U.S. offshore wind leases. The negotiations are part of a broader review of offshore wind projects under the administration's energy policies.
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.
Chevron enters Malta's offshore upstream sector
Chevron has obtained an exploration study license for four areas off the southern coast of Malta. This marks the company's entry into the offshore upstream sector of Malta.
Ventura secures contract extensions for two offshore rigs with Petrobras
Ventura Offshore secured contract extensions with Petrobras for two rigs in Brazil. The SSV Victoria received a 1,455-day extension starting January 2027 for operations in the Búzios field, while the Atlantic Zonda received a 365-day extension through at least Q2 2029.
War risk insurance costs surge for Middle East offshore projects
War risk insurance costs are increasing due to disruptions in the Strait of Hormuz, affecting procurement and logistics for offshore projects in the Middle East. This situation is causing significant challenges for several ongoing and planned projects in the region.
Petronas advances carbon capture project offshore Malaysia
Petronas is enhancing its carbon capture and storage efforts with the Kasawari project offshore Malaysia. McDermott has been contracted to transport and install key structures for this initiative.
Pipeline work begins on Romania's largest Black Sea offshore gas project
Pipeline construction has commenced for Romania's largest offshore gas project in the Black Sea. This project aims to enhance the country's gas production capacity and reduce reliance on imports.
Engie discusses refund for US offshore wind projects with Trump administration
France's Engie is in discussions with the Trump administration regarding potential refunds for its offshore wind projects in the U.S. This engagement highlights the company's efforts to navigate regulatory and financial challenges in the renewable energy sector.
Vietnam pipeline system construction underway for offshore gas transport
A major infrastructure project is being developed in Vietnam to transport offshore gas to an onshore gas-to-electricity complex. This project aims to enhance energy supply and support electricity generation in the region.
1947 Oil & Gas acquires Renaissance Offshore in U.S. Gulf
1947 Oil & Gas Plc, co-founded by Tim Duncan, acquires Renaissance Offshore, gaining an initial output of about 3,000 boed in the U.S. Gulf. The acquisition aims to increase production to over 4,000 boed next year, reflecting ongoing interest in Gulf assets. The company focuses on leveraging established infrastructure for efficient scaling in offshore production.
Saudi Aramco to award offshore expansion deals
Saudi Aramco is set to award contracts for offshore expansion projects as part of its long-term agreement framework with international contractors. These projects will focus on brownfield developments and capacity maintenance.
Offshore FAQ
What is Offshore Oil & Gas?
- Deepwater exploration, offshore platforms, and subsea production.
How does Energy Marketplace cover Offshore?
- We aggregate and analyze news from dozens of industry sources covering Offshore Oil & Gas. Our AI clusters related stories together so you can see the full picture of each development.
How often is Offshore coverage updated?
- Our Offshore coverage updates continuously throughout the trading day. Breaking news typically appears within minutes of publication.