Industry News

Seplat Energy plans to drill 17 new wells in 2026 as part of its development and production program, according to the company’s 2025 annual report.The program will include 15 onshore wells and two offshore wells. The drilling campaign forms part of the company’s operational plans to support production growth.Seplat reported that its 2026 business strategy includes continued drilling activity aimed at sustaining and increasing output across its portfolio.（2026-03-13）

New Zealand Energy Corp reported initial production from the Ngaere-1 well following perforation of the Mount Messenger Formation in onshore Taranaki, New Zealand.The well flowed oil and gas immediately after perforation, producing about 580 bbl of oil during the first six hours of operation and approximately 3,000 bbl to date. Production is currently stabilizing at about 120 bbl/day without additional stimulation or optimization.Ngaere-1 is located within petroleum mining licenses PML 38140 and PML 38141, where NZEC holds a 50% interest. The work was carried out with joint venture partner L&M Energy Ltd. and in partnership with Monumental Energy.Following the initial

SFL Corp signed a drilling contract in Canada with a multinational oil and gas company for the harsh environment semisubmersible rig Hercules. The estimated contract value is approximately $170 million for the minimum term of 400 days.The contract is expected to begin in Q1 2027. The rig is currently in Norway and will be prepared for mobilization to Canada later this year. Odfjell Drilling will manage the rig on behalf of SFL under the contract.（2026-03-07）

Odfjell Technology entered into agreements to acquire a 70% ownership interest in two service companies that support lightweight intervention and plug and abandonment (P&A) operations.Under the terms of the agreements, Odfjell Technology will take majority stakes in Kaseum Holdings and Razor Oiltools, both of which bring specialist equipment and personnel focused on subsea intervention and P&A services.The acquisitions are intended to enhance Odfjell Technology’s capability offering in the evolving North Sea and global decommissioning markets by integrating lightweight intervention and P&A solutions within its broader portfolio of offshore operational services.（2026-03-03）

Azule Energy and the National Agency for Petroleum, Gas and Biofuels (ANPG) started up the Ndungu full field in the Agogo Integrated West Hub Project on Block 15/06 offshore Angola.The Ndungu full field comprises seven production wells and four injection wells located about 10 km from the existing Ngoma FPSO in water depths near 1,100 m.Initial production from Ndungu is tied back to the West Hub subsea network and Ngoma FPSO ahead of a planned transition to the Agogo FPSO. Azule reported a coordinated effort of activities across reservoir, drilling, project and operation departments.（2026-02-28）

Murphy Oil Corporation completed drilling of the Caracal-1X exploration well in Block CI-102 offshore Côte d’Ivoire, with the well subsequently plugged and abandoned as a dry hole after encountering hydrocarbon shows.Caracal-1X reached a total depth of 8,534 ft. Murphy said results from the well will be used to inform ongoing evaluation of remaining prospectivity across its Côte d’Ivoire acreage.Murphy and its partner PETROCI remain committed to the Bubale-1X exploration well in Block CI-709, which targets a geological play independent of Caracal-1X and Civette-1X. Bubale-1X is the final well in the three-well exploration campaign offshore Côte d’Ivoire.Murphy holds a 90% working

Borr Drilling Limited reported a series of recent contract extensions and new assignments for several of its jackup drilling rigs.The Ran jackup secured a contract extension running from January 2026 through March 2026 with Eni offshore Mexico.The Odin jackup is reported as contracted from July 2026 to November 2026 with an undisclosed customer in the United States.Borr Drilling also notes that the Saga jackup will remain under assignment with Brunei Shell Petroleum following the exercise of options covering November 2026 to April 2027.The Norve jackup transitioned from operations with Marathon Oil in Equatorial Guinea in late 2025 to work with

Weatherford’s AMP all-electric intelligent completion system and MARS mature asset rejuvenation by surveillance system were recognized with a Spotlight on New Technology Award at Offshore Technology Conference Asia (OTC Asia) 2026.The AMP system has integrated digital capabilities and electrically isolated valves that operate multiple zones through a single control line, delivering precise, real-time responsiveness that streamlines operations and enhances reservoir management.The MARS system integrates distributed fiber optic sensing, including DAS and DTS, with rigless intervention to provide continuous well diagnostics. By identifying well integrity issues, unwanted fluid entry and production blockages in mature wells, MARS enables targeted, cost-effective remediation—restoring output,