Offshore Archives -

Innovex to acquire Norway’s TCO Group for $95 million

June 15, 2026

(World Oil) — Innovex International has entered into an agreement to acquire Norway-based TCO Group in a cash-and-stock transaction valued at approximately $95 million, expanding its portfolio of well technologies and strengthening its presence in key international offshore markets. The transaction is expected to close early in the third quarter of 2026, subject to customary closing conditions. Founded in 1999 and headquartered in

Guyana’s oil boom gets a major boost from $100 crude

June 11, 2026

(Oil Price) – Oil prices remain elevated in the wake of the Iran War. Tehran’s ability to close the Strait of Hormuz has sharply crimped world oil supply, with around 20% of all petroleum consumed globally passing through the waterway. This triggered an oil shock with prices surging to levels not seen since Russia’s invasion of Ukraine. Although this is straining economies worldwide, it

Shell earns MiQ methane certification across U.S. Gulf portfolio

June 2, 2026

(World Oil) – Shell has become the first operator to receive MiQ methane emissions certification across its entire Gulf of America/Gulf of Mexico production portfolio, with all 10 offshore assets earning the organization’s top Grade A methane performance rating. The certification follows an independent third-party audit conducted under MiQ’s methane emissions standard. According to MiQ, the rating reflects low methane intensity as well

TotalEnergies targets Egypt deep offshore potential through new agreement

May 13, 2026

(World Oil) – TotalEnergies and Egyptian Natural Gas Holding Company have signed a memorandum of understanding (MoU) covering offshore exploration cooperation in northwestern Egypt as the companies continue evaluating deep offshore resource potential in the region. The agreement establishes a framework for technical cooperation and preliminary exploration activities across a large offshore area located in the northwestern part of Egypt’s

Deepwater, LNG infrastructure to drive Africa’s next energy expansion cycle

May 12, 2026

(World Oil) – Africa’s next energy growth cycle will be driven less by new discoveries and more by the ability to build infrastructure, expand LNG capacity and monetize existing reserves, according to analysts participating in the State of African Energy 2026 Outlook webinar hosted by the African Energy Chamber (AEC) and S&P Global. Speakers throughout the webinar emphasized that deepwater developments, LNG infrastructure and

Guyana, going from frontier to global oil force

May 6, 2026

(By Oil & Gas 360) – A decade ago, Guyana wasn’t part of the global oil conversation. Today, it’s one of the most important new sources of supply in the world. Few countries have moved from discovery to production as quickly or as successfully. What started as a high-risk exploration play has become a case study in how modern oil development can

Shell, INEOS advance tieback opportunities near Appomattox hub

May 6, 2026

(World Oil) – INEOS Energy and Shell Offshore Inc. have agreed to pursue new exploration and development opportunities tied to the Appomattox platform in the Gulf of America, targeting near-field resources that can be developed via subsea tiebacks. The agreement focuses on prospects within tieback distance of existing infrastructure, including Shell’s pre-FID Fort Sumter discovery, the planned Sisco exploration well and an

Equinor commits $1.6 billion to drilling activity on Norwegian Continental Shelf

May 4, 2026

(World Oil) – Equinor has extended a series of drilling and well services agreements valued at approximately NOK 17 billion ($1.6 billion) to sustain production and activity on the Norwegian Continental Shelf. Jannicke Nilsson, chief procurement officer at Equinor. Image: Ole Jørgen Bratland, Equinor. The contracts include integrated drilling and well services agreements worth NOK 8.3 billion, alongside corporate framework agreements

Suriname’s oil reality check

May 1, 2026

(By Oil & Gas 360) – Suriname has been one of the most talked-about emerging oil provinces in recent years, often mentioned alongside Guyana as part of the same transformational offshore basin. Early discoveries in Block 58, led by TotalEnergies and APA Corporation, confirmed a working petroleum system and pointed to hundreds of millions of barrels of recoverable resources, quickly putting

Petrodec’s OBANA advances North Sea decommissioning program

April 28, 2026

(World Oil) – Petrodec has mobilized its OBANA jackup to begin a new offshore decommissioning campaign for Perenco UK in the UK Southern North Sea. The unit has arrived at the Pickerill field, where it will remove the jackets from the Pickerill A and B platforms. Following completion of that work, OBANA is scheduled to return to the Amethyst field to remove the Amethyst A1D

Valeura charters jackup rig for multi-year drilling campaign in Gulf of Thailand

April 23, 2026

(Oil & Gas 360) – Publisher’s Note: Valeura Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-19, 2026. Register to attend. (World Oil) – Valeura Energy has secured a long-term offshore drilling rig to support continued development and exploration across its Gulf of Thailand portfolio. The company has chartered the Shelf Drilling Enterprise jackup rig for a three-year term through the end

VAALCO advances Gabon drilling program, targets Q2 restart of Baobab offshore field

April 21, 2026

(World Oil) – VAALCO Energy has reported strong initial results from its ongoing offshore Gabon drilling campaign, while progressing additional development activity and a planned production restart offshore Côte d’Ivoire. The company said the Etame 14H development well has been successfully drilled, completed and brought online in the Etame field’s Main Fault Block. The well encountered approximately 325 meters of net pay in Gamba

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