ConocoPhillips Australia has confirmed new hydrocarbon columns in the Essington-1 well within the Otway Basin, identifying successful intersections in both Waarre A and Waarre C reservoirs.
Nexans has launched the hull of its cable-laying vessel Nexans Electra at Ulstein Verft, moving the project into the outfitting phase before commissioning, testing and seatrials ahead of its planned 2026 delivery.
Praxis Automation Technology will equip the Bourbon Evolution 801 and 803 with its Mega-Guard DP3, VMS and TCS systems under a contract from Sinoship Maritime Services, with engineering and commissioning supported by the Qingdao subsidiary.
Odfjell Drilling has agreed to acquire the Deepsea Bollsta from Northern Ocean in a $480 million transaction. The rig adds $355 million to the company’s firm backlog and continues its long-term programme with Equinor.
The United States and South Korea released details of a trade agreement that includes $150 billion in Korean investment in US shipbuilding and US approval for South Korea to build nuclear-powered attack submarines.
Egypt has opened a new tender for four Red Sea blocks, applying R-Factor production-sharing terms for the first time. The six-month round, managed by South Valley Egyptian Petroleum Holding, reflects Egypt’s plan to maximise its hydrocarbon resources.
Odfjell Drilling has signed an LOI with an undisclosed client for Deepsea Aberdeen, securing continuous work from late 2026 to Q2 2029. The move strengthens the contractor’s backlog strategy as Equinor options and other fleet discussions continue.
Repsol is assessing options for its upstream unit ahead of a planned 2026 liquidity event, including a possible reverse merger with APA and other US-listed partners, following preliminary discussions reported by Bloomberg.
Shell has begun a joint study with Kufpec to assess five Indonesian working areas, reflecting renewed engagement by major international oil companies in the country’s upstream sector. The initiative follows recent discussions between global operators and SKK Migas on new exploration opportunities.
