Offshore | GUPC

Valaris lands $135 million drillship contract for offshore West Africa

Oil & Gas‚ Oil and Gas Industry | intent | May 6, 2025 | Comment off

Valaris Limited has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is expected to commence in the third quarter 2026. The total contract value, based on an estimated duration of 250 days, is approximately $135 million, including upfront payments for rig upgrades and mobilization. The total contract value does not include the provision of additional services. The contract includes priced options for up to five wells with an estimated total duration of 80 to 100 days.

Marula-1X Well offshore Namibia Turns Up Dry

Oil & Gas‚ Oil and Gas Industry | intent | April 30, 2025 | Comment off

“The farm-down agreement between Impact and TotalEnergies that was completed last year provides full carry of Impact’s exploration and development costs on Blocks 2912 and 2913B through to first commercial production from these blocks. This presents us with an attractive opportunity set to test different geological plays on these blocks at no upfront cost”, Africa Oil President and CEO Roger Tucker said.

Aquajet launches new system to enhance hydrodemolition robots for onshore, offshore applications

Oil & Gas‚ Oil and Gas Industry | intent | January 13, 2025 | Comment off

Aquajet has introduced a new support system designed to enhance the capabilities and flexibility of Hydrodemolition robots in challenging environments. The system centers around the upgraded Aqua Spine 3.0, an extendable rail system that attaches easily to any surface, providing a stable platform for the Power Head to move along during operation.

A Looming Supply Glut Could Undermine the Offshore Oil Boom

Oil & Gas‚ Oil and Gas Industry | intent | December 2, 2024 | Comment off

Offshore oil is back in a big way. After years of costly offshore oil contacts being put on ice due to lower-than-ideal oil prices and uncertain future demand, these projects have been roaring back to life around the world. But the future of the sector remains uncertain as a looming oil glut may be scaring off would-be investors.

Delays of some E&P projects doesn’t impair offshore drilling market strength: Valaris

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | September 4, 2024 | Comment off

Even as a few deepwater drilling or development programs previously slated for 2024 have been pushed back by months or even into the new year, current oil prices and economics of offshore projects remain strong, the top executive at a large global deepwater driller said Sept. 3.

Offshore Tech Evolves for Deeper Waters, Deeper Reservoirs

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | September 2, 2024 | Comment off

Since the late 1930s, the offshore industry has advanced from the first platform in 14 ft of water to the ultradeepwater 20K era. Driven by seismic, drilling, and development breakthroughs, the industry has pushed into deeper waters, high-pressure reservoirs, and new frontiers like Guyana, continually expanding the limits of offshore exploration.

Total offshore investments to reach almost $250B in 2025, Rystad reports

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | August 30, 2024 | Comment off

Investments in the offshore sector are on the rise and are seen growing about 5% both this year and next, according to a recent report by Espen Erlingsen, Rystad Energy’s head of upstream research.

After spending $400m, Total to ditch SA offshore gas finds – choosing Namibia instead

Oil & Gas | intent | July 3, 2024 | Comment off

TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritise exploration in other areas closer to Namibia, according to people familiar with the matter.

Guyana’s oil boom prompts expat returns as ExxonMobil develops offshore resources

Oil & Gas | intent | July 1, 2024 | Comment off

Like 80% of Guyana’s college graduates, Richard Singh had left the tiny South American nation for better job prospects abroad. Then, in a surprising turn of events, he realized he could make more money back home.

Atlantic Shores Offshore Wind Selects Riggs Distler for Cardiff Substation Expansion

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | June 26, 2024 | Comment off

Riggs Distler, a Centuri company, is one of the largest union utility, mechanical, and electrical contractors in the United States with a growing portfolio of work in emerging clean energy technologies. With its corporate headquarters in Cherry Hill, NJ and multiple offices across the Garden State, the firm brings over a century of local market experience.

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