offshore Archives - Oil & Gas 360

Chevron strikes oil and gas in Angola’s Block 0, eyes tieback development

August 17, 2026

(World Oil) — Chevron has made an oil and gas condensate discovery in Block 0 offshore Angola, encountering more than 300 ft of net pay as the company continues to expand its exploration program across Sub-Saharan Africa. The 105-4X exploration well, drilled in the Lower Congo basin, encountered an oil and gas condensate column exceeding 2,000 ft in the primary Pinda reservoir, including more than 300

Emerson wins bp automation contract for $2.9 billion Shah Deniz project

August 13, 2026

(World Oil) — bp has awarded Emerson a multi-million-dollar contract to provide automation technologies for the $2.9 billion Shah Deniz Compression project offshore Azerbaijan, supporting increased gas recovery from the Caspian Sea field. The project represents the next phase of development at Shah Deniz and is designed to access lower-pressure gas reserves as the field matures. It is expected to enable production and

Angola confirms new offshore oil and gas reserves with Katambi-2 well

August 6, 2026

(Oil Price) – Angola’s state-owned oil firm Sonangol and its partner in an exploration block offshore Angola, ANPG, successfully drilled an appraisal well that showed good reservoir potential for both oil and gas production. Sonangol and ANGP announced on Thursday the successful completion of the drilling and testing operations of the Katambi-2 appraisal well in Block 24 of the Benguela Basin. The

bp to acquire Woodside’s stake in Trinidad’s Calypso gas project

August 6, 2026

(World Oil) — bp has agreed to acquire Woodside Energy’s 70% interest in the Calypso gas project offshore Trinidad and Tobago, giving the company full ownership and operatorship of the early-stage deepwater natural gas development. The transaction increases bp’s stake in Block TTDAA 14 from 30% to 100% and represents another step in the company’s strategy of concentrating its upstream portfolio around high-value assets where

Petrobras sets production record of 3.34 MMboed in second quarter

July 31, 2026

(World Oil) — Petrobras increased its oil and natural gas production 14.1% year over year to a record 3.34 MMboed in the second quarter of 2026, driven by the continued ramp-up of major pre-salt developments in the Santos basin and improved operational efficiency across its offshore portfolio. Production also rose 3.4% from the first quarter as the company benefited from increasing

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

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