Industry News

Saipem agreed to extend the amended bareboat charter for the seventh-generation drillship Deep Value Driller through 31 July 2026, maintaining the vessel’s availability for deepwater well programs. The extension covers a firm period of 31 days with options to prolong charter further into 2027.In addition to the charter extension, the parties agreed to prolong the window for Saipem to exercise its purchase option on the drillship until 16 February 2026. If Saipem exercises its further extension rights, the drillship could remain under contract until 31 July 2027 with the purchase option similarly extended.（2025-12-31）

Baker Hughes contracted with Kuwait Oil Company (KOC) to provide advanced artificial lift systems and associated services to enhance production in Kuwait’s oil and gas fields.Under the multi-year agreement, Baker Hughes will supply its portfolio of electrical submersible pumps (ESPs) as well as installation, surveillance and maintenance services. ESP performance will be further optimized through the integration of the FusionPro intelligent production drive and Leucipa automated field production solution, which will enhance operational reliability and reduce nonproductive time.This agreement follows a Q3 award from KOC to provide advanced wireline and perforation technology and services, including Proxima advanced logging services to

Helix Energy secured a multi-year contract with a major operator for riserless plug and abandonment (P&A) operations on up to 34 subsea wells in the UK North Sea. The awarded scope of work is scheduled to start in 2026 and includes the flushing and disconnection of pipelines and well P&A.Helix expects to use Helix-owned assets including either the Well Enhancer or the Seawell, purpose-built light well intervention vessels with saturation diving capabilities, a subsea intervention lubricator and remotely operated vehicles. Helix will also be providing project management and engineering services.（2025-12-25）

INEOS Energy and Shell made a new oil discovery in the Norphlet formation in the US Gulf of Mexico. Shell is the operator of the well with a 79% working interest, while INEOS Energy holds the remaining 21% interest.The discovery was made at the Nashville exploration well, drilled more than five miles beneath the seabed in a deepwater Norphlet target. Drilling operations were carried out using the Deepwater Proteus rig.Further technical evaluation is underway to assess the size and commercial potential of the discovery.（2025-12-23）

Odfjell Drilling signed a contract with Equinor for use of the semisubmersible Deepsea Aberdeen to drill an unspecified scope in an interim period on the Norwegian Continental Shelf, before moving to the Fram Sør project offshore Norway.The work will begin in Q4 2026 in direct continuation of Deepsea Aberdeen’s current contract with Equinor and is estimated to continue to Q1 2029. The contract adds approximately $373 million of firm order backlog, excluding integrated services, performance bonuses and fuel incentives as well as yearly escalation increases.（2025-12-20）

Shell Offshore took a final investment decision (FID) on a waterflood project at its Kaikias field in the US Gulf of Mexico. Water will be injected to displace additional oil in the reservoir formation which supplies production to Shell’s Ursa platform in the Mars Corridor.In August 2014, the Kaikias field was discovered at a depth of more than 4,000 ft, approximately 130 mi off the coast of Louisiana. Production from the Kaikias field began in May 2018 with flowback to Shell’s Ursa platform.（2025-12-18）

BW Energy converted a short-term lease for the Super Gorilla class jack-up rig BW MAROMBA B into a long-term project lease agreement with Minsheng. The agreement covers the rig purchase and all work required to prepare the unit as a combined drilling and production wellhead platform for the Maromba field. The lease will take effect upon first oil from the development, with no lease payments due prior to that milestone.BW MAROMBA B is currently en route from Singapore to Dubai, where it will undergo refurbishment and conversion into a fully integrated drilling and production platform. The company said the rig’s

Dana Gas made a new gas discovery after drilling the North El-Basant 1 exploratory well onshore in Egypt’s Nile Delta. Early results from the well indicate 15–25 billion cu ft of recoverable gas, and production is expected to exceed 8 million cu ft per day once the well is connected to Egypt’s national network.The discovery marks the fourth well in Dana Gas’s current $100 million development and exploration program, which includes 11 wells designed to boost domestic gas output and increase reserves. The company plans to continue drilling under the program, with the next exploration well scheduled to spud in