Vard has started construction of the UPO Atlantic commissioning service operation vessel (CSOV) for U-Ming Purus Offshore (UPO), following a steel-cutting ceremony at its Vard Vung Tau shipyard in Vietnam.The ceremony, held on November 2, marked the first construction milestone for the vessel, designated NB 1004 and based on Vard's VARD 4 19 design.The UPO Atlantic is being developed to support offshore wind projects in Taiwan and across Asia…
Offshore drilling contractor Valaris has secured approximately $600 million in new contracts and extensions since its previous fleet status report in August 2026, increasing its total contracted backlog to around $4.8 billion.The latest awards cover drillships…
Ocean energy company Global OTEC has completed a year of continuous offshore testing of its floating Ocean Thermal Energy Conversion (OTEC) structural prototype off Gran Canaria, with the platform successfully withstanding 19 named storms during the trial…
Searah, the joint venture between Eni and Petronas, has started gas production from the Maha field offshore Indonesia, with output expected to ramp up to 230 million standard cubic feet per day (MMSCFD).Located in the West Ganal block in the Kutei Basin…
Portugal's government is assessing whether to increase its 8% stake in oil company Galp Energia after the collapse of merger talks with Spain's Moeve, the economy minister said on Sunday as it seeks to safeguard strategic assets including the country's only oil refinery…
Woodside Energy has agreed to sell its 33.44% participating interest in the Greater Sunrise gas project in the Timor Sea to Timor-Leste's national oil and gas company TIMOR GAP for up to $200 million, paving the way for the latter to consolidate ownership of the development…
Sunda Energy has secured a 12-month extension to the current phase of its Chuditch gas licence offshore Timor-Leste, following an earlier warning from the country's upstream regulator that the production sharing contract (PSC) could be terminated over unmet drilling obligations…
Finder Energy has signed a contract worth an estimated $42.3 million with Eneos Drilling for the Hakuryu-5 semi-submersible rig to drill three development wells at the Kuda Tasi and Jahal (KTJ) offshore oil project in Timor-Leste.The agreement covers the provision of the rig…
Offshore drilling contractor Transocean has secured contracts worth approximately $550 million for two ultra-deepwater drillships in the U.S. Gulf, covering a combined 15 wells and adding to the company's firm contract backlog.The contracts…
Eni has completed the Bouri Gas Utilization Project (GUP) offshore Libya, with start-up procedures underway for infrastructure designed to recover associated gas previously flared at the field and reduce CO2 emissions by approximately 1.5 million tonnes annually…
Equinor and its partners Petoro and TotalEnergies have made an oil and gas discovery near the Oseberg field in the Norwegian North Sea, with preliminary estimates indicating between 19 million and 50 million barrels of recoverable oil equivalent…
BP estimated on Tuesday its third-quarter refining margins tripled from last year as the Iran war boosts profits for oil majors, but also flagged $3 billion to $4.5 billion in impairments relating to its gas and low-carbon energy segment.This…
Energy data company TGS has signed a framework agreement with newly established Galdor Exploration to use artificial intelligence (AI) and integrated subsurface data to identify exploration opportunities on the Norwegian Continental Shelf and across the wider North Sea region…
Eni has signed two binding agreements to sell 10% interests in seven production sharing contracts (PSCs) in Indonesia to Pertamina and Medco, covering assets operated by its joint venture with Petronas.Under the first agreement, Eni will sell its 10% interests in the East Sepinggan…
Valaris has added about $220 million to its contract backlog through new offshore drilling contracts and extensions since its previous fleet update in August, including work in Suriname, Australia and the North Sea.The offshore driller secured…
