ABL Secures Work at South Korean Offshore Wind Farm
ABL Group has been selected as the marine warranty surveyor for South Korea's 390 MW Shinan Ui offshore wind project. The role covers technical document review, vessel‑suitability surveys, and on‑site supervision of marine operations for 26 turbines on bottom‑fixed foundations. The project is led by a consortium that includes Hanwha Ocean, SK Eternix, KOMIPO, Future Energy Fund and Hyundai Engineering & Construction. ABL brings experience from more than 330 offshore wind projects worldwide, including over 8 GW of potential capacity in South Korea.
Toyo, OneSubsea Form Subsea CCS Partnership
Toyo Engineering Corporation and OneSubsea have signed a memorandum of understanding to explore joint subsea carbon capture and storage (CCS) projects, initially targeting Japan and Southeast Asia. The partnership pairs Toyo’s expertise in on‑shore CCS project development with OneSubsea’s subsea...
Japan to Launch $10B Fund to Help Asia Secure Oil
Japan announced a $10 billion financial framework, administered by state‑backed lenders JBIC and NEXI, to help Asian nations secure oil amid heightened Middle East tensions. The fund is equivalent to roughly 1.2 billion barrels, or about one year of crude imports for...
Eni Ships Venezuelan Crude to Europe After Two-Year Gap
Italian energy giant Eni loaded a 1‑million‑barrel cargo of heavy Venezuelan crude bound for Spain, the first European shipment in almost two years. The cargo left the Jose terminal aboard the Marshall Islands‑flagged tanker Front Cruiser after U.S. licenses cleared...
ExxonMobil, Energean, Helleniq Energy to Sign Contract for Exploratory Drilling Offshore Greece
ExxonMobil, Energean and Helleniq Energy will sign a contract with Stena Drilling to begin exploratory drilling in Greece's Block 2 offshore in the Ionian Sea. The operation, slated for February 2027, will employ a deep‑water vessel capable of drilling to 35,000 feet. This...
Petrobras Makes FID for Brazil’s Deepwater Scheme, Picks SBM Offshore for FPSOs
Petrobras has issued a final investment decision for the SEAP I deepwater project in Brazil’s Sergipe‑Alagoas Basin, joining the previously sanctioned SEAP II module. The combined development will cost over $12 billion (about $11.4 billion) and aim to produce more than 1 billion barrels of oil...
IEA Cuts Oil Demand, Supply Outlook Amid Iran War
The International Energy Agency (IEA) sharply revised its outlook, now expecting global oil demand to fall by 80,000 barrels per day in 2026, down from a previously projected 640,000‑bpd increase. It also cut the 2026 supply forecast by 1.5 million bpd, reversing...
Philippines Seeks US Extension to Buy Russian Oil
The Philippines has asked the United States to extend a waiver that lets Manila purchase Russian oil, a permission that lapsed on April 11. Energy Secretary Sharon Garín said the government remains optimistic about the extension while also scouting alternative supplies...
BP Signs Deal for Three Offshore Exploration Blocks in Namibia
BP has agreed to acquire a 60% interest in three offshore exploration blocks—PEL97, PEL99 and PEL100—in Namibia’s Walvis Basin from Eco Atlantic Oil & Gas, making BP the operator while Eco Atlantic and state‑owned NAMCOR retain stakes. The transaction awaits...
Hormuz Crisis Signals New Era of Risk for Gulf Energy
The six‑week Iran‑Israel‑U.S. war culminated in Iran’s unprecedented closure of the Strait of Hormuz, halting roughly one‑fifth of the world’s oil supply. The shutdown and missile strikes knocked out about 11 million barrels per day of regional production, including Saudi Arabia’s...
Turkey Launches Deep Sea Drilling Mission in Somalia
Turkey’s deep‑sea drilling vessel Cagri Bey arrived off Mogadishu to launch the country’s first overseas deep‑sea oil exploration. The planned well will reach 7,500 metres, placing it among the world’s deepest offshore drills. Energy Minister Alparslan Bayraktar hailed the project...
OMV Nominates BP Executive Emma Delaney as Next CEO
Austrian integrated oil and gas group OMV has nominated BP executive Emma Delaney as its next Chief Executive Officer, with the Supervisory Board slated to confirm the appointment. Delaney, who currently serves as Executive Vice President at BP, will assume...
Shell Targets 2027 Gas Start-Up at Loran-Manatee Field
Shell announced that it will start natural gas production from the offshore Loran‑Manatee field in 2027, a joint development straddling Venezuela and Trinidad and Tobago. The company has boosted the pipeline capacity to transport the gas to Trinidad to 1 billion...
ConocoPhillips Assessing Oil Opportunities in Venezuela
ConocoPhillips is sending a small evaluation team to Venezuela this week to assess oil and gas prospects. The U.S. producer, which left the country in 2007 after nationalization, is still owed roughly $12 billion plus interest from arbitration awards. The move...
Middle East Producers Gear Up for Hormuz Export Restart
Middle East oil producers are urging Asian refiners to submit loading programmes for April and May as they prepare for a possible reopening of the Strait of Hormuz following a U.S.-Iran cease‑fire. Saudi Aramco has asked customers to nominate cargoes...
Van Oord Completes Low-Noise Monopile Installation
Van Oord successfully installed three monopile foundations at the Hollandse Kust West offshore wind farm using GBM Works' VibroJet® jetting solution together with CAPE Holland's vibro‑lifting tool. The low‑noise method, deployed from Van Oord's new installation vessel Boreas, fluidises dense...
Orsted: Middle East Energy Crunch Rejuvenates Europe Offshore Wind Push
Ørsted CEO Rasmus Errboe told Reuters that the Middle East war is accelerating Europe’s drive for energy independence, reviving offshore wind development. Soaring oil and gas prices from the U.S.–Israeli conflict and the Strait of Hormuz blockage have heightened demand...
Shell Balances Gas Weakness with Oil Trading Gains
Shell reported weaker first‑quarter gas output and a $10‑15 billion hit to working‑capital, but said stronger oil trading would partially offset the short‑term liquidity strain. Brent crude surged to near $120 a barrel after the U.S.–Israeli strikes on Iran and the...
SCA Secures First 50Hertz Contract for Cable Carousel Systems
Subsea Cable Assets (SCA) won its first framework contract with German transmission operator 50Hertz to supply four cable carousel systems for power‑grid projects. The deal covers engineering, manufacturing, delivery, installation and commissioning, targeting both offshore and onshore high‑voltage infrastructure in...
Perenco Expands Southern North Sea Portfolio
Perenco has completed the acquisition of the Saturn Banks assets in the U.K. Southern North Sea after securing regulatory approval. The deal, struck with CalEnergy Resources, brings CalEnergy North Sea Ltd and CalEnergy Infrastructure Ltd under Perenco’s ownership, renamed Perenco...
Technip Energies Continues EPC Work on Commonwealth LNG Ahead of FID
Technip Energies has secured a substantial EPC authorization to continue work on the Commonwealth LNG project in Cameron Parish, Louisiana, as the development moves toward a final investment decision. The award, valued between $578 million and $1.15 billion, covers key engineering, procurement...
China Connects Its 'Deepest' Offshore Wind Farm to Grid
China Huaneng Group has brought its 504 MW Shandong Peninsula North offshore wind farm online, marking the country’s deepest commercial offshore wind connection at 52‑56 m water depth. The farm consists of 42 turbines, each 12 MW, and is expected to generate roughly...
France Leads 15-Country Effort to Reopen Strait of Hormuz
France is heading a coalition of about fifteen countries to restart commercial traffic through the Strait of Hormuz after a U.S.-Iran cease‑fire was announced. The strait moves roughly one‑fifth of global oil, about five million barrels daily, making its reopening...
Dolphin Drilling Nears Deal for North Sea Harsh-Environment Rig
Dolphin Drilling, the Oslo‑listed offshore contractor, signed a letter of intent to extend the contract for its Paul B. Loyd Jr. semi‑submersible rig through August 2030, potentially adding up to five more years of work. The rig, a 600‑metre water‑depth, harsh‑environment platform,...
CPC Oil Exports via Black Sea Stable After Attack Reports
Kazakhstan’s deputy energy minister confirmed that oil shipments through the Caspian Pipeline Consortium (CPC) remain stable despite Russian claims of a Ukrainian attack on loading facilities in Novorossiysk. The CPC terminal, which moves about 80% of Kazakhstan’s crude, saw export...
BW Energy Extends Dussafu License Off Gabon to 2053
BW Energy secured a 25‑year extension of its Dussafu Marin offshore production license in Gabon, pushing the expiry from 2028 to 2053. The deal, reached with Gabon's Ministry of Oil and Gas, gives the company long‑term certainty for investment and...
Valaris Nets $447M Brazil Drillship Extension, Inks Suriname Collaboration Deal
Valaris secured a 1,064‑day extension for its DS‑4 drillship with Petrobras, adding roughly $447 million to its backlog and guaranteeing work through 2030. The extension also includes a day‑rate adjustment that trims about $21 million of backlog between now and November 2027. In...
OceanAlpha Shares USV Offerings at Oi26
OceanAlpha introduced its V180 unmanned surface vessel (USV) at the Oi26 conference, highlighting its capability for deep‑water offshore inspection, maintenance, and repair. The company also unveiled the Fire Conqueror USV, engineered to combat maritime fire emergencies. Both platforms emphasize modular...
OMV Petrom’s Black Sea Well Fails to Find Significant Gas Volumes
OMV Petrom and its partners completed drilling the Krum‑1 exploration well in the Han Asparuh Block offshore Bulgaria, reaching roughly 3,500 metres without encountering significant gas volumes. The well follows the Vinekh well as the second deep‑water test in the Black Sea basin....
Borr Drilling Secures New Drilling Rig Contracts Across Four Regions
Borr Drilling announced new contract commitments and extensions for four of its premium jack‑up rigs spanning West Africa, the Americas, Europe and Southeast Asia. The Prospector 5 rig secured a binding 320‑day, up‑to‑220‑day extension contract with BW Energy in Gabon. The...
BP, ADNOC JV Takes FID on Harmattan Gas Project Off Egypt
Arcius Energy, the BP‑ADNOC joint venture, announced a final investment decision to develop the Harmattan gas field in Egypt’s El Burg Offshore concession. The project carries an estimated $500 million investment and aims to lift domestic natural‑gas output. Execution contracts have been...
Oil Hikes 7% After Trump Says US-Israel Will Keep Striking Iran
Oil prices surged nearly 7% on Thursday after President Donald Trump warned that the United States and Israel would continue striking Iran, reigniting concerns over supply disruptions. Brent crude rose to $108.81 a barrel and U.S. WTI to $107.18, marking...
EnQuest Enters Malaysia with Cendramas Production Sharing Deal
EnQuest plc has signed a production sharing contract for the Cendramas block offshore Malaysia, securing a 25% participating interest through its subsidiary EnQuest Petroleum Production Malaysia. The block will be operated by Medco Asia Pacific, which holds a 50% stake,...
Energean Warns Prolonged Conflict May Delay $1B Gas Project
Energean is spending roughly $10 million each month to keep its Israeli offshore assets on standby as the Israel‑Iran conflict drags on, and its $1 billion Katlan gas development could be postponed if hostilities extend beyond May. CEO Mathios Rigas emphasized that...
Sarens Helps Atlantic Canada Bulk Terminal Undergo Adaptation as Hub for Offshore Wind
Sarens partnered with the Atlantic Canada Bulk Terminal (ACBT) in Sydney, Nova Scotia, to convert the steel‑focused port into a dedicated offshore‑wind hub. The engineering team performed a ground stability study and deployed a high‑capacity crawler crane with a Superlift...
Prysmian Shares North American Leadership Transitions
Prysmian announced a reshuffle of its North American leadership to strengthen its market foothold. The firm reported record 2025 revenue of $23.08 billion, with North America contributing $9 billion in profit—about 40% of total sales. Recent acquisitions of Encore Wire and Channell...
Petrobras Taps Fugro for Brazil’s First Licensed Offshore Wind Survey
Petrobras has hired Dutch geotechnical firm Fugro to conduct the first licensed offshore wind geotechnical survey in Brazil, supporting its 18 MW Rio de Janeiro Offshore Wind Pilot Project. The survey will involve soil sampling, in‑situ testing and laboratory analysis at...
INPEX Extends Pertamina LNG Pact, Signs Upstream MoU in Southeast Asia
INPEX Corporation has extended its strategic LNG collaboration with Indonesia’s PT Pertamina through its Masela subsidiary, keeping the Abadi LNG project on track in the Arafura Sea. Simultaneously, INPEX signed a new upstream memorandum of understanding with Pertamina Hulu Energi to...
Oil Sales From California’s Santa Ynez Pipeline Begin
Sable Offshore announced it has begun selling oil from its Santa Ynez Pipeline System to Chevron after resuming crude transport earlier this month. The pipeline, idle since a 2015 spill that devastated the Gaviota Coast, was reopened under a Trump‑administration...
TotalEnergies Completes UK Upstream Merger to Form NEO NEXT+
TotalEnergies has merged its U.K. upstream oil and gas assets with NEO NEXT, creating NEO NEXT+ and taking a 47.5% stake. The new entity becomes the largest independent producer on the U.K. Continental Shelf, targeting over 250,000 barrels of oil equivalent per...
Big Oil to Look Beyond Middle East as War Raises Risks
Escalating conflict between the U.S., Israel and Iran has damaged Gulf energy infrastructure and closed the Strait of Hormuz, costing the region roughly $1 billion daily in lost export revenue. The heightened geopolitical risk is forcing Western oil majors to reassess...
Seequent Assesses Offshore Data Today to Prepare for Tomorrow
Seequent is launching a unified platform that merges geophysical, geological, and geotechnical offshore data into a cloud‑native environment. The initiative addresses long‑standing data fragmentation that hampers accurate seafloor mapping and risk assessment. By standardizing metadata and applying automated quality checks,...
Slovakia Interested in Gas From Offshore Romanian Neptun Project
Slovakia announced its interest in importing gas from Romania’s Neptun Deep offshore project as its Russian gas deliveries are set to cease by 2027. Prime Minister Robert Fico said Slovakia would use existing infrastructure to purchase gas on a commercial...
PRIO Brings Second Wahoo Well Online Off Brazil
Brazilian independent producer PRIO has placed a second well at its offshore Wahoo field into production, delivering a stable output of 12,000 barrels of oil per day. The company plans to bring the third and fourth wells online and adjust...
Cleanova Boosts Seawater Injection Capacity on Gulf of Mexico Platform
Cleanova upgraded an existing seawater filtration system on a Gulf of Mexico oil platform, boosting injection capacity by nearly 50% without halting production. The company replaced original filter elements with its CleanMax high‑flow cartridges, improving flow rates and biofouling resistance....
Europa Oil & Gas Secures License Extension Off Ireland
Europa Oil & Gas received Irish government approval to extend its FEL 4/19 license until January 2028, providing additional time for technical studies and partner outreach. The license covers the Inishkea West gas prospect, estimated at roughly 1.5 trillion cubic feet of low‑risk gas....
Eni Exits Consortium for Oil and Gas Exploration Offshore Israel
Italian energy major Eni announced its withdrawal from a three‑partner consortium seeking offshore natural‑gas exploration licenses in Israel. The group, which also includes Dana Petroleum and Ratio Energies, had been awarded six prospective licenses in Cluster G during Israel’s fourth offshore...
Libya’s NOC and Chevron Agree Study Offshore Libya
Libya’s National Oil Corporation signed a memorandum of understanding with Chevron to conduct a technical study of offshore Block NC146, an unexplored area that recent geological data suggests is promising. The study will evaluate the block’s discovery potential, aiming to add...
Etu Energias to Acquire Azule Energy’s Stakes in Angola’s Offshore Blocks
Portuguese‑based Etu Energias has signed a sale‑and‑purchase agreement to acquire Azule Energy’s 20% stake in Block 14 and 10% stake in Block 14K, offshore Angola. The deal, valued at up to $310 million including $115 million in contingent payments, replaces a previously aborted consortium...
TotalEnergies to Uphold LNG Supply Contracts Amid Qatar Outages
TotalEnergies announced it will not invoke force majeure and will honor all LNG contracts despite Qatar’s forced shutdown after regional attacks. The French oil major sources about 5.2 million metric tons per annum from QatarEnergy and plans to redirect cargoes from...