PETRONAS, through Malaysia Petroleum Management (MPM), signed a Small Field Asset (SFA) Production Sharing Contract (PSC) with Vestigo Petroleum Sdn Bhd (Vestigo) for a Discovered Resource Opportunity (DRO) cluster, which was marketed under the Malaysia Bid Round Plus (MBR+).

Vår Energi has extended the long-term agreement for delivery of up to a total of five billion cubic meters (bcm) natural gas to Eni over a 12-year period.

Baker Hughes, an energy technology company, announced it has entered into a new 10-year services frame agreement with Woodside Energy to support its LNG operations in Australia.

DOF has signed a Letter of Intent (LOI) for a 2-year firm and a 1-year optional contract from an undisclosed energy company. The contract is defined as “Very Large”, excluding optional periods and additional services.

The Indonesian branch of Malaysian national oil company Petronas has awarded energy and marine consultancy ABL a contract to provide rig inspection services to its assets operating offshore Indonesia.

SLB has announced a contract award from Equinor for the front-end engineering design (FEED) of a 12-well, all-electric Subsea Production Systems (SPS) project in the Fram Sør field, offshore Norway.

Mermaid Subsea Services (UK) Ltd has been awarded a multi-year Engineering, Preparation, Removal, and Disposal (EPRD) Well Head Severance (WHS) contract by Shell UK Ltd in the North Sea.

The latest DNV survey, “The paradox of petroleum - How the oil and gas sector is transforming through uncertainty”, gathered insights from nearly 450 senior oil and gas professionals to examine rapidly evolving trends and the near-term outlook for the sector. The survey highlights the sector’s confidence following the 2020 downturn.

MODEC, Inc. (MODEC) and Terra Drone Corporation (Terra Drone) have announced that they have entered into a joint research and development agreement to enhance inspection drones for Floating Production, Storage and Offloading system (FPSO). This agreement follows the Memorandum of Understanding signed by both companies on November 7, 2023.

Reach Subsea AS has entered into an agreement with Equinor to conduct a technology qualification program for the Reach Remote USVs. Reach Subsea’s USVs, Reach Remote 1 and 2, have entered the final testing stage. This contract confirms the qualification pilot program necessary to validate their intended operations, with financial support from Equinor.

Transocean Ltd. has announced a 365-day contract extension for the Deepwater Asgard with an independent operator in the US Gulf of Mexico.

Petrobras has awarded DOF two long-term contracts: a Major Contract for the Pipelay Support Vessel (PLSV) Skandi Niterói, and a Very Large Contract for the Anchor Handling Support vessel (AHTS) Skandi Botafogo.

Take it from Matt Johnson, a Chevron field development and portfolio optimization specialist: The right technologies can be game changers in the realm of offshore energy development.

The Vår Energi operated Cerisa exploration well in production license PL 636 was successful with estimated gross recoverable resources of between 18-39 million barrels of oil equivalent (mmboe).

Ocean Installer has been chosen by Equinor and its partners in the Troll A license as the SURF Contractor for their new 12 billion NOK investment in the Troll Phase 3—Stage 2 Project. This SURF EPCI contract, worth over one billion NOK, includes a substantial fabrication scope and offshore work over three years, with the first campaign beginning in 2025.

Oceaneering International, Inc. announced that its Manufactured Products segment has secured a large contract with a domestic independent energy company. The anticipated revenue from this contract is approximately $50 million.