offshore Archives - Oil & Gas 360

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

SBM Offshore’s FPSO cooling technology gains ABS approval

May 27, 2026

(World Oil) – SBM Offshore has received a Statement of Maturity from American Bureau of Shipping (ABS) for its Seawater Intake Riser technology, a subsea cooling system designed to improve energy efficiency and reduce emissions on floating production units. Developed in collaboration with Shell, the Seawater Intake Riser (SWIR) system pumps colder seawater from approximately 700 m below the ocean surface to FPSO

Eni approves FPSO-backed Baleine Phase 3 development

May 26, 2026

(World Oil) – Eni and its partners have approved the final investment decision for the Baleine Phase 3 offshore development in Côte d’Ivoire, advancing the next expansion phase of what the company describes as the country’s largest hydrocarbon discovery. The Phase 3 development is expected to increase Baleine oil production from 60,000 bopd to 150,000 bopd, while natural gas output is projected

Legacy offshore fields drive Congo production growth

May 26, 2026

(World Oil) – Mature offshore fields in the Republic of Congo are seeing renewed production optimization efforts as independent operators expand investment in brownfield redevelopment projects. Ammat Global Resources has increased production capacity at the offshore Loango and Zatchi fields through a series of workovers, infrastructure upgrades and reservoir management initiatives aimed at slowing natural decline rates and improving operational efficiency.

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

Talos founder Tim Duncan leads U.S. Gulf oil acquisition with new company

April 17, 2026

(World Oil) – A new oil and gas company backed by Talos Energy founder Tim Duncan has entered the U.S. Gulf through the acquisition of Renaissance Offshore, marking its first move into U.S. offshore production. The company, 1947 Oil & Gas Plc, was co-founded by Duncan alongside former Goldman Sachs commodities strategist Jeff Currie and investor Ivan Murphy. The deal gives the new venture an initial

Transocean adds $445 million backlog with Petrobras drillship extension

April 15, 2026

(World Oil) – Transocean has secured a long-term contract extension with Petrobras for its ultra-deepwater drillship Deepwater Corcovado, adding approximately $445 million to the company’s backlog. The 1,156-day extension will begin in direct continuation of the rig’s current work offshore Brazil and is expected to keep the drillship contracted through November 2030. The award reflects continued demand for high-specification ultra-deepwater drilling capacity in Brazil’s

Transocean adds $445 million backlog with Petrobras drillship extension

April 14, 2026

bp to acquire 60% stake in Eco Atlantic’s Namibia offshore exploration blocks

April 13, 2026

(World Oil)– Eco (Atlantic) Oil & Gas has signed an agreement to farm down a 60% participating interest in its offshore Namibia portfolio to bp, transferring operatorship across three exploration licenses in the Walvis basin. The transaction covers Petroleum Exploration Licenses (PEL) 97, 99 and 100. Upon completion, Eco will retain a 25% interest, while bp will assume operatorship and lead exploration

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

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

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