Malaysia-based offshore services firm Sapura Energy, through its wholly-owned subsidiary Sapura Subsea Services, has secured a contract to provide subsea services for Thai oil company PTTEP’s subsidiaries in Malaysia.The contract, effective from February 21…
Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side…
Malaysia-based offshore services firm Sapura Energy, through its wholly-owned subsidiary Sapura Subsea Services, has secured a contract to provide subsea services for Shell’s Malaysian subsidiaries Sarawak Shell Berhad and Sabah Shell Petroleum…
Argeo Subsea, CSI Nordics and Kongsberg Discovery signed a three-party Certificate of Delivery and Acceptance for a new HUGIN Superior AUV. The agreement supports Argeo’s fleet expansion plans, as it aims to build the world’s most advanced AUV fleet…
Swire Renewable Energy A/S (SRE) and Tien Li Offshore Wind Technology Co., signed a Memorandum of Understanding (MoU) to deliver operations and maintenance services in the Taiwanese offshore wind turbine industry and other parts of the Asia Pacific region…
INPEX Masela (INPEX), a subsidiary of INPEX Corporation, has awarded Fugro a significant marine survey contract for the Abadi liquefied natural gas (LNG) project in Indonesia.Fugro will perform geophysical and geotechnical surveys needed to…
Mermaid Maritime has established a joint venture (JV) with Tan Cang Offshore Services in Vietnam which will offer subsea services for the country’s offshore sector.The primary activities of the newly formed JV will be to offer vessel chartering…
Making a twist on the proverb 'necessity is the mother of invention', GASCADE Gastransport GmbH and StreamTec Solutions AG completed the Ostsee Anbindungsleitung (OAL) subsea pipeline connecting the Mukran LNG terminal to the German energy grid at Lubmin in 18 months…
As an industry, the offshore energy sector continues to evolve its approach to reducing environmental impact. Looking beyond the mandatory reporting of scope 1 and 2 carbon emissions, focus is now shifting to scope 3 emissions where many global…
2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day…
China National Offshore Oil Corporation (CNOOC) has put into operation the first domestically developed subsea Xmas tree.CNOOC’s subsea Xmas tree is 3.5 meters long, 3.2 meters wide and 3 meters high, with an overall weight of nearly 22 tons…
BP has started a new four-dimensional (4D) high-definition ocean bottom node seismic program on its Azeri-Chirag-Deepwater Gunashli (ACG) oil field in the Caspian Sea, offshore Azerbaijan.This is the largest-ever seismic acquisition commitment made by BP globally by all its aspects – area size…
Petronas, through its subsidiary PC Ketapang II, has secured a 20-year extension of the Production Sharing Contract (PSC) for the Ketapang Working Area, located in the Java Sea.Due to expire in 2028, the Ketapang PSC extension was officially…
Industry continues chasing big oil, key gas targets also on the radarGlobal exploration drilling is set for a boost in 2024 – we have line of sight on over 200 wells targeting over 30 bnboe of resource (unrisked). Several gas hotspots are on the industry agenda…
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