Offshore Archives - Page 2 of 88 -

Occidental discovers oil at Bandit prospect in U.S. Gulf

April 9, 2026

(World Oil) – Occidental Petroleum (Oxy) has reported an oil discovery at the Bandit prospect in the U.S. Gulf of America/Mexico, encountering oil-bearing sands in a key deepwater exploration area offshore Louisiana. The exploration well, located in Green Canyon Block 680 about 125 miles south of the Louisiana coast, encountered high-quality oil in Miocene formations. The company and its partners are evaluating

Trump administration to reunite offshore drilling agencies split after Deepwater Horizon spill

April 6, 2026

(World Oil) – The U.S. Interior Department said it’s merging two oversight agencies to create a Marine Minerals Administration and move toward a “more modern, coordinated approach” to managing offshore resources, including critical minerals. The goal is to “improve coordination and increase efficiencies across offshore leasing, permitting, inspections and environmental oversight, while maintaining all existing regulatory protections and rigorous safety standards,”

Latin America offshore drilling gains appeal as Iran war reshapes markets

April 3, 2026

(World Oil) – A leading supplier of deep-water drilling rigs to Brazil’s national oil company expects the industry to favor oil and gas projects in Latin America, where geopolitical risk is lower than the Middle East. Constellation Oil Services Holding SA recently extended three offshore drilling contracts with Petrobras and is optimistic about Brazil’s exploration prospects in other deep-water regions, including

TotalEnergies completes UK North Sea merger, creating largest independent producer

March 30, 2026

(World Oil) – TotalEnergies has completed the merger of its UK North Sea upstream assets with NEO NEXT, forming a new entity—NEO NEXT+—that is set to become the largest independent oil and gas producer on the UK Continental Shelf (UKCS). Under the transaction, TotalEnergies will hold a 47.5% stake in the combined company. NEO NEXT+ is expected to deliver production exceeding 250,000

ReconAfrica begins production testing at Kavango West discovery in Namibia

March 26, 2026

Publisher’s Note: ReconAfrica will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-19, 2026. Register to attend. (World Oil) – ReconAfrica has commenced production testing operations at its Kavango West 1X discovery well in Namibia, marking a key step in evaluating the commercial potential of the Kavango basin. Testing operations are underway following receipt of regulatory approvals, with field crews

U.S. deal ends TotalEnergies offshore wind plans, accelerates LNG investment

March 24, 2026

(World Oil) – TotalEnergies has agreed to relinquish its U.S. offshore wind leases under a settlement with the Department of the Interior, redirecting capital toward LNG, gas production and export infrastructure. The company will exit the Carolina Long Bay and New York Bight leases, both awarded in 2022, effectively ending its offshore wind development plans in the United States. Under the agreement,

Baker Hughes secures Petrobras turbomachinery services deal for Brazil offshore operations

March 18, 2026

(World Oil) – Baker Hughes has secured a 60-month services agreement with Petrobras to support critical turbomachinery across Brazil’s offshore production system and refining operations. The contract covers maintenance, repair and engineering advisory services for up to 64 aeroderivative gas turbines, including LM2500 and LM6000 units deployed across approximately 19 floating production, storage and offloading (FPSO) vessels, as well as at the Replan refinery

Eni discovers more than 1 Tcf of gas offshore Libya near Bahr Essalam field

March 16, 2026

(World Oil) – The discoveries were made at the Bahr Essalam South 2 (BESS-2) and Bahr Essalam South 3 (BESS-3) structures, located about 85 km offshore in roughly 650 ft of water and approximately 16 km south of the Bahr Essalam gas field. The wells—B2-16/4 and C1-16/4—encountered gas-bearing intervals within the Metlaoui Formation, the main producing reservoir in the area. According

ExxonMobil, Halliburton deploy closed-loop automated drilling in Guyana

March 16, 2026

(World Oil) – ExxonMobil and Halliburton have completed what the companies describe as the industry’s first fully automated closed-loop geological well placement system during offshore drilling operations in Guyana. The project integrated rig automation, automated subsurface interpretation and geosteering, and real-time drilling optimization into a single digital workflow designed to improve well placement accuracy and operational efficiency. Halliburton deployed its LOGIX™ orchestration platform alongside

TotalEnergies launches Lapa South-West project offshore Brazil

March 11, 2026

(World Oil) – TotalEnergies has started production from the Lapa South-West project in Brazil’s Santos basin, about 300 km (186 miles) offshore, adding new output to the company’s existing Lapa field operations. The development consists of three wells tied back to the Lapa floating production, storage and offloading (FPSO) unit and is expected to increase production from the field by

War flips LNG surplus narrative, Morgan Stanley says

March 9, 2026

(Oil Price) – The Middle East war and the resulting production halt at the world’s second-largest LNG exporter, Qatar, are erasing the projected glut of the fuel that was expected before the region was set on fire, according to Morgan Stanley. Qatar’s state energy firm QatarEnergy last week halted LNG production at its Ras Laffan hub, the world’s largest LNG complex,

Energy Advisors: Offshore, Two Rig Ghosts Become a “Rate Reaper”

February 18, 2026

(Oil and Gas 360) – Energy Advisors examines the strategic implications of Transocean’s $5.8 Bn all-stock acquisition of Valaris. Click here to download the report. Still counting? Transocean + Valaris means there’s one less number to call. Devon + Coterra was the recent icebreaker onshore, where 1 + 1 targets 3, and everyone nods about “synergies” and dreams of “big and lean.”

Premium Content