2025 was a year of recalibration, continuing the softness experienced since the fourth quarter of 2024. Rather than a slowdown, this period can be better described as a collective deep breath as the industry prepares for the next upcycle in the Asian Pacific region…
Unlike larger jackup regions where scale provides greater flexibility, relatively minor changes in supply can have an outsized impact. The availability, reactivation, or retirement of a single rig can materially shift utilisation levels, dayrate negotiations…
Semco Maritime and Zamakona Yards have formed a strategic alliance to establish Las Palmas Shipyard, a new hub for rig upgrades, vessel maintenance and offshore modification projects in the Canary Islands.The partnership combines Semco Maritime’s…
Offshore drilling contractor Borr Drilling has placed three jack-up rigs on standby in the Arabian Gulf following recent hostilities in the region arising from the U.S.-Israel and Iran war.The company has four jack-up rigs deployed in the area…
VAALCO Energy has completed drilling the ET-14P exploration well at the Etame field offshore Gabon as part of its Phase Three drilling program and plans to sidetrack the well to drill a development target.The ET-14P well encountered 10 meters…
Valeura Energy has completed an infill drilling campaign at the Manora field in the Gulf of Thailand, bringing three new wells online and increasing oil production from the asset.The campaign was carried out from the Manora A platform on Block G1/48…
Oil major Shell inked several oil agreements with the Venezuelan government on Thursday that span offshore natural gas and onshore oil and gas opportunities, the company said in a statement.It also signed several technical and commercial agreements with Venezuelan engineering company VEPICA…
Saipem has launched a state-of-the-art Drilling Training Centre featuring a full-scale simulator designed to deliver immersive, hands-on training for drilling personnel operating in complex offshore environments. Accredited by the International Well Control Forum…
Carbon storage in the UK has taken another step forward after the NSTA granted consent to drill a carbon storage appraisal well which could become a build-out of the Endurance project off the coast of Teesside.It is another important step forward…
Viridien has kicked off the Charrua 3D multi-client seismic survey offshore Uruguay, marking a new phase of exploration activity in the country’s offshore basins.Data acquisition will be carried out by the vessel BGP Prospector, with the company…
Akrake Petroleum Benin, an indirect subsidiary of Rex International Holding via Lime Petroleum, has completed the hook-up of the mobile offshore production unit (MOPU) and floating storage and offloading (FSO) vessel at the Sèmè Field in Block 1 offshore Benin…
SFL Corporation has signed a drilling contract in Canada with an unnamed multinational oil and gas company for the harsh environment semi-submersible rig Hercules, which is managed by Odfjell Drilling.The estimated contract value is approximately $170 million for the minimum term of 400 days…
Seadrill Limited, an offshore drilling contractor, Kongsberg Maritime AS, a global technology leader, and Hanwha Drilling, a provider of offshore drilling services, announced a strategic alliance to develop the next generation of remote Dynamic Positioning (DP) technology in offshore drilling…
Brazilian independent oil and gas firm PRIO has secured the operating license from the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) for the Wahoo pre-salt field in Campos Basin, offshore Brazil.With the issuance of the operating license…
Equinor has completed its investigation into a well control incident on Odfjell Drilling's Deepsea Bollsta drilling rig in September 2025, classifying it in the company’s highest category of severity.The incident occurred during plugging operations…