offshore – Oil & Gas 360

Noble secures $1.3 billion in new rig contracts, enters Norway floater market

January 27, 2026

(World Oil) – Noble Corporation has announced new contract awards totaling approximately $1.3 billion, adding backlog across nine rigs and marking the company’s entry into the Norwegian harsh-environment floater market. The awards reflect continued multi-year demand for deepwater and offshore drilling and are expected to materially improve fleet utilization over the coming years. Noble said the new contracts increase the percentage

Saipem awards EnerMech subsea contract for Guyana’s Whiptail project

January 13, 2026

(World Oil) – EnerMech has been awarded a subsea pre-commissioning services contract by Saipem for the Whiptail development offshore Guyana, expanding its footprint in one of the world’s most active deepwater provinces. The Whiptail project is located about 200 miles offshore Guyana in the Stabroek Block, which is operated by ExxonMobil Guyana. The contract marks EnerMech’s first involvement on the Whiptail field and its

Equinor awards over $9 billion in long-term contracts to Norwegian suppliers

January 8, 2026

(World Oil) – Equinor has awarded a series of long-term framework agreements to seven supplier companies, committing roughly NOK 100 billion ($9+ billion) to maintenance, modifications and large project work across its offshore installations and onshore plants in Norway. The twelve new framework agreements, which begin in the first half of 2026, have a five-year duration with extension options of three

Saipem wins $600 million offshore EPC contracts with Aramco in Saudi Arabia

December 31, 2025

(World Oil)– Saipem has won two offshore Contract Release Purchase Orders (CRPO) in Saudi Arabia, reinforcing its position as a leading EPC contractor in the Kingdom. The contracts are worth approximately $600 million, and expand Saipem’s long-standing partnership with Aramco. The first work package (CRPO 162), spanning 32 months, covers engineering, procurement, construction and installation of roughly 34 km of pipeline—ranging from

CB&I acquires Petrofac Asset Solutions to expand O&M services

December 29, 2025

(World Oil)– CB&I has signed a sale agreement to acquire Petrofac’s Asset Solutions business, a major provider of operations, maintenance and decommissioning services for offshore and onshore energy assets. The deal will add a reimbursable contracting model to CB&I’s primarily lump-sum EPC portfolio, broadening revenue streams and providing steadier cash flow. The transaction will also expand CB&I’s presence in international

US pauses leases for five offshore wind projects over radar concerns

December 22, 2025

(Investing)– The Trump administration on Monday said it suspended leases for five large-scale offshore wind projects that are being built off the U.S. East Coast over concerns they would interfere with military radar systems. The suspension marks the latest blow for offshore wind projects that have faced repeated disruptions under U.S. President Donald Trump, who has said he finds them

Shell, INEOS make new oil discovery in Norphlet play in U.S. Gulf

December 22, 2025

(World Oil)– Shell and INEOS Energy have made their first oil discovery in the Gulf of America after confirming hydrocarbons at the Nashville exploration well, a deepwater Norphlet find operated by Shell. The Nashville well, drilled in the Norphlet formation, was drilled more than five miles beneath the seabed and encountered high-quality oil in what the companies described as one of the

Harbour Energy makes gas discovery in Norway’s North Sea

December 19, 2025

(Oil Price)– Harbour Energy has made a gas and condensate discovery in the Norwegian section of the North Sea, which could be tied back to existing infrastructure, the Norwegian Offshore Directorate said on Friday. Harbour Energy, as operator of the license, and its partners have proven gas condensate in the ‘Camilla Nord’ prospect, the regulator said, adding that preliminary estimates indicate

MOL Group to operate new onshore exploration block under SOCAR agreement in Azerbaijan

December 18, 2025

(World Oil)– MOL Group and SOCAR have signed a comprehensive onshore exploration, development and production sharing agreement covering the Shamakhi-Gobustan region of Azerbaijan, strengthening their long-standing upstream partnership in the Caspian region. Under the agreement, MOL Group will serve as operator with a 65% working interest, while SOCAR will hold the remaining 35%. The fully termed deal follows a preliminary alignment reached by

Seadrill wins new offshore drilling contracts in the U.S. Gulf and Angola

December 16, 2025

(World Oil)– Seadrill has announced a series of new contract awards in the U.S. Gulf of America/Mexico and offshore Angola, strengthening its backlog into 2026 and early 2027. In the U.S. Gulf, Seadrill’s West Neptune drillship was awarded a four-month contract by LLOG Exploration. The program is scheduled to begin immediately following the rig’s current campaign and is expected to

TotalEnergies divests 10% stake in Malaysia’s SK408 gas block to PTTEP

December 16, 2025

(World Oil)– TotalEnergies has completed the sale of an indirect 9.998% interest in Malaysia’s SK408 offshore gas block to PTTEP, strengthening the companies’ long-standing partnership while allowing TotalEnergies to optimize its upstream portfolio in the country. Following the transaction, TotalEnergies retains a 30.002% working interest in SK408 and remains operator of the block, which is considered a key contributor to Malaysia’s domestic

US holds first Gulf of Mexico oil and gas auction since 2023

December 10, 2025

(Investing) – The Trump administration will hold the government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023 on Wednesday, a key test of industry appetite for offshore acreage at a time when the United States is seeking to unleash more domestic fossil fuel production. The auction is the first of 30 mandated by

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