ABS and Akselos S.A. have announced the joint completion of technical assessment for structural digital twin technology. This marks a significant advancement in the application of digital twin technology for FPSO units, enabling more accurate and reliable assessments of structural integrity. SourceContinue Reading
(WO) – Day one of OTC 2025 kicked off Monday, May 5, in Houston, Texas. Offshore innovations and industry priorities in the current economic and geopolitical climate led much of the discussion on day one, exemplified in a panel on electrification. SourceContinue Reading
Oil dropped after OPEC+ agreed to another large output increase, raising concern that additional supply could lead to a global glut just as the trade war threatens demand. The drop follows OPEC+’s latest agreement to continue loosening supply constraints. SourceContinue Reading
BW Energy has reached final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. SourceContinue Reading
STR, a provider of advanced sensor technology, has strengthened its global offering by entering into a partnership with SubC Imaging, an original equipment manufacturer (OEM) of subsea cameras, digital video recorder products and data-as-a-service provider. SourceContinue Reading
ADNOC Gas has announced net income of $1.27 billion for Q1 2025, attributing the strong performance to continued demand for domestic gas – up on the equivalent quarter last year – as a result of strong economic growth in the UAE. SourceContinue Reading
Valaris Limited has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is expected to commence in the third quarter 2026. The total contract value, based on an estimated duration of 250 days, is approximately $135 million, including upfront payments for rig upgrades and mobilization. SourceContinue Reading
OPEC+ agreed to increase output again in June, as the group continues a supply revival aimed at punishing over-producing members that has sent crude prices plunging. Key nations agreed to add 411,000 bpd next month, according to a statement. SourceContinue Reading
Subsea7 has secured a super-major contract1 with Petrobras for the development of the Búzios 11 field located approximately 180 kilometers off the coast of the state of Rio de Janeiro, Brazil, at 2,000 meters water depth in the pre-salt Santos basin. SourceContinue Reading
Rising Phoenix Capital, an oil and gas investment firm, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips. The transaction strengthens the firm’s growing position in the core of the Midland Basin. SourceContinue Reading
