ADES Expects Up to 44% Earnings Rise Despite Regional Tensions Impacting Rigs
Saudi Arabia‑based ADES International Holding projects core earnings to rise between 33% and 44% in 2026, targeting EBITDA of $1.2 billion to $1.29 billion despite several Gulf offshore rigs being temporarily idle due to regional tensions. The company operates 123 rigs in 20 countries, leveraging geographic diversification and a broader earnings base to offset short‑term disruptions. Growth is underpinned by the recent acquisition of Shelf Drilling, expected synergies, and a favorable tendering environment with strong day‑rate dynamics. Production‑model activities and brownfield optimisation further support the outlook.
Borr Drilling Acquires Five Jack‑Ups
Borr Drilling announced definitive agreements to purchase five premium jack‑up rigs in Mexico for $287 million. The acquisition will be executed through BC Ventures Limited, a 50/50 joint venture with its long‑term Mexican partner, and will include two Friede & Goldman JU‑2000E and...
IKM Gruppen Acquires Hendrik Veder Group
Norway’s IKM Gruppen announced the acquisition of Rotterdam‑based Hendrik Veder Group, creating the new entity IKM Hendrik Veder. The deal adds a 225‑year‑old rope and wire specialist with 79 employees to IKM’s 4,000‑strong, 15‑country operation. The combined company will broaden...
Energean, ExxonMobil, Helleniq Energy Explore Block Offshore Greece
Energean, ExxonMobil and Helleniq Energy have notified Greece’s hydrocarbons agency that they will move to the second phase of exploration in Block 2 of the Ionian Sea, marking the first offshore test drilling in the country in four decades. The joint...
Exxon Consortium for Guyana Floating Production Continues As Planned
Exxon Mobil’s Guyana consortium is close to completing the Errea Wittu FPSO, a floating production, storage and offloading vessel that will add up to 250,000 barrels per day from the Uaru field. The new unit follows the Yellowtail project, which now...
Saipem FlatFish Underwater Drone Completes Petrobas Test Campaign
Saipem’s FlatFish underwater drone has successfully completed Functional Acceptance Tests for Petrobras, confirming its autonomous inspection capabilities. The tests, conducted in Saipem’s Trieste facility, demonstrated pipeline, structural, cathodic protection, and wall‑thickness assessments without human control. Petrobras has now approved the...
Indonesia Awards Nine Oil, Gas Blocks
Indonesia’s Energy Ministry announced the award of nine oil and gas blocks, committing roughly $85 million in investment. The blocks, located in West Papua, Aceh, East Java and South Sulawesi, include the Bintuni and Drawa fields with combined gas resources exceeding...
Offshore Vietnam: Energy Imports Rise as Domestic Production Falls
Vietnam’s government forecast shows domestic crude production falling to 5.8‑8.0 million metric tons annually between 2026 and 2030, down from an eight‑year average of 8.6 Mt. Imports already rose 5.3% last year to 14.2 Mt, with roughly 80% sourced from Kuwait, now constrained...
Equinor Makes New Oil Discovery at Johan Castberg
Equinor announced a new oil discovery in the Polynya Tubåen prospect, estimating 14‑24 million barrels of recoverable oil equivalents. The find will be tied into the Johan Castberg field, which already holds 500‑700 million barrels and aims to add another 200‑500 million barrels. Production at...
SLB OneSubsea Awarded Integrated EPC Contract by CNOOC
SLB OneSubsea secured a multi‑well integrated EPC contract from China National Offshore Oil Corporation for the deep‑water Kaiping 18‑1 field, covering 20 wells. The agreement includes delivery of standardized subsea production hardware—dual electric submersible pumps, gas‑lift and gas‑injection horizontal trees, manifolds,...
Liz Westcott Appointed Woodside CEO
Liz Westcott has been appointed Chief Executive Officer and Managing Director of Woodside Energy, succeeding Meg O’Neill who left in December 2025. Westcott, who has acted as CEO since the departure, joined Woodside in June 2023 as Executive Vice President...
BOEM Issues Notice of Intent for Offshore Well Stimulation Work
The Bureau of Ocean Energy Management (BOEM) issued a Notice of Intent to prepare an Environmental Impact Statement for a proposed update to the Santa Clara Unit Development and Production Plan, which would allow hydraulic fracturing on 16 existing wells...
Tampnet Connectivity for First CO₂ Injection Platform Offshore Netherlands
European CCS milestone: Tampnet secured a contract with Porthos CO₂ Transport to provide communications for the first offshore CO₂ injection platform on the Dutch Continental Shelf. The project will equip the converted P18‑A platform with a redundant 25 Mbit/s fiber link,...
Seadrill Awarded Contract Extension in Angola
Seadrill’s 50:50 joint venture with a Sonangol affiliate, Sonadrill Holding, has secured a contract extension for the ultra‑deepwater drillship Sonangol Quenguela in Angola. The extension exercises a seven‑well priced option, adding roughly 480 days of operation and stretching the rig’s...
Additional LNG Exports From Plaquemines LNG Approved
U.S. Energy Secretary Chris Wright approved a 13% increase in exports at Venture Global’s Plaquemines LNG terminal, adding up to 0.45 billion cubic feet per day (Bcf/d) for non‑FTA destinations. The move raises Plaquemines' authorized export capacity to 3.85 Bcf/d, combining both...
EU Doesn’t See Risks to Oil and Gas Supply Yet
EU energy coordinators met on March 12 and concluded there are no immediate oil or gas supply risks despite ongoing Middle East disruptions. Oil inventories remain high and gas storage levels are stable across the bloc. Regulators consider the current framework...
Offshore Service Vessels: A Measured Market Recovery
The offshore support vessel (OSV) market is entering a modest recovery, with supply growth staying limited and the order book representing only about 3% of the global fleet. While oil prices have slipped to $60‑$65 per barrel, new‑build activity remains...
Louis Dreyfus Company Appoints Landerretche CFO
Louis Dreyfus Company (LDC) appointed Sébastien Landerretche as its Group Chief Financial Officer, effective March 18, 2026, with the role based in Switzerland. Landerretche, who joined LDC in 2004, has led global ocean freight research, oilseeds, and served as Global Head...
Shell Sees Encouraging Signs at Sirius-1X Exploration Well Offshore Egypt
Shell reported encouraging initial indications from its Sirius‑1X exploratory well offshore Egypt, which reached its target depth of 2,115 metres. The well, part of a four‑well Mediterranean campaign, leverages data from the earlier Mina West 2 drill to reduce additional exploration risk....
Bernhard Schulte Offshore Takes Delivery of New CSOV
Bernhard Schulte Offshore (BSO) has taken delivery of the Windea Carnot, the third Ulstein‑built commissioning service operation vessel (CSOV) added to its fleet since mid‑2023, bringing its total specialized vessels to six. The CSOV incorporates Ulstein’s Twin X‑Stern design, hybrid battery...
OneSubsea Bags Third PTTEP Subsea Systems Contract in One Year
OneSubsea, the SLB‑Aker Solutions‑Subsea 7 joint venture, won an EPC contract from PTTEP for subsea production systems at the Kikeh 3B Phase 2 deep‑water project offshore Malaysia. The award includes three subsea trees, a manifold, a distribution unit and integrated control systems, with...
Petrobras’ P-78 FPSO Achieves Gas Injection Milestone in Búzios Field
Petrobras’ P‑78 FPSO recorded its first gas injection on March 2, 2026, just 61 days after achieving first oil on December 31, 2025. The milestone moves the vessel toward full operational readiness and expands output at the deep‑water Búzios field in Brazil’s Santos Basin. Seatrium...
TotalEnergies, Repsol and Shell Bring Lapa South-West Online Off Brazil
TotalEnergies, together with Repsol and Shell, has placed the Lapa South‑West development into production in Brazil’s Santos Basin. The three‑well subsea tie‑back to the existing Lapa FPSO adds roughly 25,000 barrels of oil per day, lifting total field output to...
Spain Eyes First Offshore Wind Tender This Year
Spain's energy minister Sara Aagesen announced that the country will launch its first offshore wind tender this year, targeting 3 GW of new capacity. The tender follows a similar commitment made last year, signaling Spain's accelerated push into offshore renewables. If...
Viridien Starts Seismic Reprocessing Initiative for India’s Offshore Basins
Viridien has launched a regional multi‑client seismic reprocessing initiative targeting India’s offshore basins, beginning with a Phase 1 reimaging of roughly 9,000 sq km of 3D data in the Mahanadi Basin. The project will deliver fast‑track results by June 2026 and complete datasets by...
X1 Wind Gets DNV Certification for Floating Wind Platform Design
X1 Wind has secured a DNV Statement of Compliance for the basic design of its X100 floating offshore wind platform. The certification confirms the platform meets international standards for structural integrity, stability and hydrodynamic performance over a 25‑year service life....
Study Finds Seabirds Avoid Turbines at Aberdeen Offshore Wind Farm
A study at Vattenfall’s Aberdeen offshore wind farm, conducted with Spoor, monitored one turbine for 19 months using AI‑assisted video. The analysis captured 2,007 seabird flight paths and found no confirmed collisions, estimating fewer than one impact would have occurred....
Acteon’s 2H Acquires Upstream Engineering to Expand Offshore Capability
Acteon’s engineering consultancy 2H has purchased Houston‑based Upstream Engineering, a specialist in offshore engineering, procurement and construction. The deal doubles 2H’s fixed‑platform depth capability to 150 metres and broadens its portfolio from near‑shore terminals to complex offshore structures across the Americas....
Semco Maritime, Zamakona Form Las Palmas Shipyard Alliance
Semco Maritime and Zamakona Yards have launched the Las Palmas Shipyard in the Canary Islands, merging Semco’s engineering expertise with Zamakona’s extensive yard facilities. The new hub offers deep‑water quaysides, 650 metres of berth, heavy‑lift cranes and comprehensive services for rig upgrades,...
Borr Drilling Puts Three Jack-Up Rigs in Arabian Gulf on Standby
Borr Drilling has placed three of its jack‑up rigs on standby in the Arabian Gulf as hostilities flare between the U.S.–Israel coalition and Iran. The rigs operating in Qatar and the UAE were down‑manned, and the Arabia III unit was shut...
VAALCO Adjusts Gabon Drilling Plan After Exploration Well Result
VAALCO Energy finished drilling the ET‑14P exploration well at Gabon's Etame field, intersecting 10 meters of high‑quality Gamba sands but discovering a water‑bearing target zone. The lower section of the well will be plugged and abandoned, while the existing bore...
Valeura Lifts Output with Three Producing Wells at Thailand’s Manora Field
Valeura Energy completed an infill drilling campaign on Thailand’s Manora field, bringing three new wells online – two development wells and one appraisal well – on its 70% operated working interest. The added wells lifted average oil output from roughly...
MOL Enters European Offshore Wind CSOV Market
Mitsui O.S.K. Lines (MOL) has partnered with Cyprus‑based Schoeller Holdings to jointly own two commissioning service operation vessels (CSOVs), marking its first foray into the European offshore wind support market. The 96‑meter vessels, built at China’s CSSC Huangpu Wenchong shipyard,...
Fugro Nets Geotechnical Survey Contract for Ireland’s Oriel Wind Farm
Fugro has been awarded a geotechnical survey contract for the Oriel offshore wind farm off County Louth, Ireland. The survey will underpin foundation design for 25 turbines delivering 375 MW, positioning Oriel as one of Ireland’s first commercial‑scale offshore projects. Fugro’s...
Shell Inks Oil and Gas Exploration Deals with Venezuela
Shell has signed a series of oil and gas exploration agreements with the Venezuelan government, covering offshore natural gas and on‑shore projects, and partnered with local engineering firm VEPICA, KBR, and Baker Hughes. The deals clear the path for the...
BP Plans For August Maintenance at Central Azeri Platform
BP will conduct an 11‑day scheduled maintenance on the Central Azeri platform in August 2026, targeting only the gas infrastructure while oil output remains uninterrupted. The outage is notably shorter than the typical 19‑day window, thanks to the deployment of...
Next-Gen Rig Simulation: Inside Saipem’s New Drilling Training Centre
Saipem has inaugurated a cutting‑edge Drilling Training Centre equipped with a full‑scale simulator that mirrors offshore rigs. The simulator features a 24‑monitor, eight‑meter screen wall and cyber chairs that replicate real control systems, focusing on deep‑water geological conditions. Accredited by...
Viridien Launches Charrua 3D Seismic Survey Offshore Uruguay
Viridien has launched the Charrua 3D multi‑client seismic survey offshore Uruguay, deploying the BGP Prospector vessel. The project employs time‑lag full‑waveform inversion (TLFWI) to generate high‑resolution subsurface images. This effort expands Viridien’s data coverage across the southern Atlantic Margin, a region...
Hercules Semi-Sub Rig Lines Up Canada Job Under $170M Deal
SFL Corporation has signed a roughly $170 million contract for its Hercules semi‑submersible rig with an unnamed multinational oil and gas company in Canada. The agreement covers a minimum 400‑day term starting in the first quarter of 2027, with the rig...
Multiple Offshore Campaigns on TGS Seismic Vessel’s Agenda
TGS has scheduled multiple acquisition campaigns for its Ramform Vanguard seismic vessel, beginning in mid‑March and extending into the third quarter. The program starts with an oil‑and‑gas site survey before moving to two offshore‑wind contracts, leveraging the vessel’s Ultra High...
Remazel Expands Offshore Services Footprint in Brazil with H Tech Acquisition
Remazel, a subsidiary of Italy's Fincantieri, completed the acquisition of Brazil’s H Tech Serviços e Manutenção Ltda, gaining full ownership of a firm that provides offshore inspection and maintenance with more than 50 specialized technicians. The deal is a cornerstone of Fincantieri’s international growth plan,...
Harbour Energy Lifts Production Forecast After US Gulf Deals
Harbour Energy lifted its 2026 production outlook to 475,000‑500,000 barrels of oil equivalent per day, driven by early output from the recently acquired LLOG assets in the Gulf of Mexico. The company’s pretax profit more than doubled to $2.8 billion in...
China’s Five-Year Plan Focuses on Oil Stability, Gas and Reserves Growth
China’s 2026‑2030 Five‑Year Plan caps oil output at 200 million metric tons (about 4 million barrels per day), a level already exceeded last year but below the 216 million‑ton record. The plan shifts focus from expanding production to maintaining output while expanding undisclosed...
Oil Companies Reject Trump Administration's Alaska Offshore Auction
The Trump administration auctioned more than 400,000 acres in Alaska's Cook Inlet, yet no oil or gas companies submitted bids. The sale was part of the One Big Beautiful Bill Act, which obliges six offshore auctions through 2032 to boost...
Kongsberg Maritime, Seadrill, Hanwha Drilling to Develop Remote Dynamic Positioning Technology
Kongsberg Maritime, Seadrill and Hanwha Drilling have formed a strategic alliance to create next‑generation remote Dynamic Positioning (DP) technology for offshore rigs. The partnership will blend Kongsberg’s automation and communications platforms with Seadrill’s and Hanwha’s operational expertise. It aims to...
CHC Helicopter Wins Equinor’s Crew Change Contract for Brazilian Field
CHC Helicopter’s Brazil unit has won Equinor’s crew‑change contract for the ultra‑deepwater Bacalhau field, commencing in February 2026. The agreement deploys an S‑92A helicopter from CHC’s Jacarepaguá base to transport personnel 185 km offshore. CHC highlights its local infrastructure, fleet upgrades,...
Arabian Drilling Reactivates Fleet as GCC Offshore Contract Starts
Arabian Drilling has reactivated two previously recalled rigs and launched its first international offshore contract within the GCC. The offshore fleet utilization now stands at 91% and total fleet utilization at 82%, with a third land rig entering service on...
BOEM Releases Offshore Alaska Seismic Survey Data
The Bureau of Ocean Energy Management (BOEM) has made five 3‑D seismic survey datasets from the Beaufort Sea publicly available through the National Archive of Marine Seismic Surveys. The releases—identified as B‑02‑99‑AK through B‑01‑95‑AK—cover 232 square miles across nine survey...
TGS Targets Eastern Niger Delta with New 3D Survey
TGS has launched the Nigeria Laide multi‑client 3D seismic survey covering about 11,700 sq km in the eastern Niger Delta. The project, executed with NUPRC and SeaSeis Geophysical, uses the GeoStreamer dual‑sensor system and advanced broadband acquisition. It delivers data suitable for...
Eni Can Take Venezuelan Oil to Settle Gas Debts, CEO Says
Eni’s chief executive Claudio Descalzi announced that, following a recent easing of U.S. sanctions, Venezuela can now settle its roughly $3 billion gas debt by delivering oil. The debt stems from gas supplied by the Perla offshore field, which Venezuela’s PDVSA...
