TotalEnergies and Chevron are advancing offshore drilling and appraisal work in Nigeria as West Africa’s deepwater sector attracts renewed investment interest.
The Middle East jackup market has slowed after escalating regional conflict disrupted offshore drilling activity across the Arabian Gulf. Westwood said rig suspensions, delayed drilling campaigns and contract terminations pushed marketed fleet utilization down sharply, delaying the expected recovery in 2026.
DOF has agreed to sell the 2016-built cable-laying vessel Skandi Connector to Taihan Cable & Solution, expanding South Korea’s cable-laying fleet.
The IEA warned that disruption in the Strait of Hormuz could push global oil demand into contraction in 2026 as supply losses and inventory declines accelerate.
Davie Defense finalized a $3.5 billion contract to build five Arctic Security Cutters for the U.S. Coast Guard, with construction split between Finland and Texas under the broader U.S. Arctic fleet expansion strategy.
South Korea announced its K-Shipbuilding Future Vision, including public vessel orders, KRW 525 billion in technology investment and KRW 16 trillion in trade finance.
IQIP launched a hybrid offshore foundation installation system designed for hard-rock seabed conditions, combining drilling and pile-driving for offshore wind monopile projects.
Etu Energias confirmed a successful appraisal result at the Espadarte 7ST2 well in Angola’s Block 2/05, reporting eight productive intervals and 53 m of net pay.
MacGregor completed DNV-certified sea trials for its Horizon V4 active motion compensated gangway, confirming safe personnel transfers between independently moving offshore assets in open-water conditions.
