Activity News

Brazilian firms OceanPact and CBO have announced plans to combine their businesses, creating what the companies described as the country’s most comprehensive integrated fleet and services platform for the offshore sector.The transaction will be implemented through the incorporation of CBO’s holding company into OceanPact, according to a regulatory filing. Completion of the deal is subject to approval by Brazil’s antitrust regulator CADE and other customary conditions, including approval by shareholders and consent from creditors.Once completed…

Oil prices surged more than 3% on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran raised fears of prolonged disruptions to vital Middle East oil and gas supplies.Brent LCOc1 crude advanced $2.44, or 3%, to $83.84 per barrel by 0722 GMT, a fifth session of gains. U.S. West Texas Intermediate crude CLc1 rose $2.44, or 3.27%, to $77.10.Crude oil markets remained on edge as they face ongoing risks to supply following the attacks in the Middle East, with concerns centred on trade flows through the Strait of Hormuz…

Seadrill Limited, an offshore drilling contractor, Kongsberg Maritime AS, a global technology leader, and Hanwha Drilling, a provider of offshore drilling services, announced a strategic alliance to develop the next generation of remote Dynamic Positioning (DP) technology in offshore drilling.This collaboration represents a shared commitment to defining a global operating model for the future of DP operations for the industry. The initiative will develop the technical and regulatory…

Strategic Marine has delivered the first two Supa Swath crew transfer vessels (CTVs) to Mainprize Offshore, marking the initial handover under a multi-vessel contract signed at in June 2024.The deliveries represent the first two vessels in a program covering six Supa Swath vessels, with options for a further six units. The contract supports Mainprize Offshore’s fleet expansion for offshore renewables operations across Europe.The program follows an earlier collaboration in 2024…

QatarEnergy has declared Force Majeure to its affected buyers, following the decision to stop the production of liquefied natural gas (LNG) and associated products as a consequence of Israel-U.S. war with Iran.“QatarEnergy values its relationships with all of its stakeholders and will continue to communicate the latest available information,” the company said in a statement on March 4, 2026.Qatar halted its production of LNG on March 2, following Israeli and U.S. strikes against Iran and its retaliation…

Subsea7 has secured a large variation order by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.The award represents an extension to the contract announced by Subsea7 in August 2025 for the third phase of Sakarya and will connect the recently discovered Goktepe field to the Phase 3 floating production unit.The scope of work comprises engineering, procurement, construction and installation (EPCI) of approximately 20 kilometers of flexibles…

Oil prices rose 3% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz.Brent LCOc1 rose $2.67, or 3.3%, to $84.07 a barrel by 0659 GMT, after closing on Tuesday at its highest since January 2025.U.S. West Texas Intermediate crude CLc1 rose $2.24, or 3%, to $76.8, after settling at its highest since June.

DRIFT Energy, a leader in ocean-based renewable energy, has signed a collaboration agreement with Enapter to adapt the design of their Anion Exchange Membrane (AEM) electrolyzer technology for deployment at sea. The agreement was formalized during a visit by DRIFT’s CEO, Ben Medland, to Enapter’s production facility in Pisa, Italy, this week.The partnership will accelerate development of the energy storage element of DRIFT’s technology ecosystem, paving the way for the production of over 30 energy ships currently on the company’s order book.

OEG has expanded its offshore wind vessel fleet with the delivery of Fulmar, a new multi-purpose crew transfer vessel (CTV), following successful sea trials.The vessel will operate in U.K. waters and has secured its first charter in Scotland, supporting offshore construction work at the Inch Cape Offshore Wind Farm. The project was awarded to OEG earlier last year and is supported by the company’s specialists based in Edinburgh.Fulmar can accommodate up to 24 personnel for high-speed transfers and can be configured for extended offshore trips.

India began rationing natural gas on Tuesday while countries around Asia looked to the spot market to replace supplies, activated emergency plans and prepared to step up production, as the conflict in the Middle East curtailed shipping and halted Qatari output.Government officials and company executives in Japan, Taiwan, Bangladesh and Pakistan said they did not expect an immediate impact as some cargoes due this month had already arrived, but they would diversify their import…

China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case, with China's vast stockpile of crude a cushion against price spikes, meaning that any energy-led inflation in the rest of the world will not hit China.It is also possible that China's refiners could reap windfall profits in the event of a prolonged disruption to crude supplies from the Middle East, by ramping up exports of refined products.If Asia's export

European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U.S. assets, vulnerable to setbacks.Not Good, But 2022 Was WorseThe jump in oil and gas prices evokes memories of Russia's invasion of Ukraine in 2022, which triggered a global energy crunch and hit Europe particularly hard.Since Friday…

Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.Brent crude futures LCOc1 were at $80.89 a barrel, up $3.15, or 4.1%, by 0745 GMT. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher.U.S. West Texas Intermediate crude CLc1 climbed $2.55, or 3.6%, to $73.78 a barrel.

The U.S. Department of Energy (DOE) has approved a 12% expansion in exports at Cheniere Energy’s Corpus Christi liquefied natural gas (LNG) terminal in Texas, authorizing additional shipments to non-free trade agreement countries.U.S. Secretary of Energy Chris Wright signed the order allowing exports of up to 0.47 billion cubic feet per day (Bcf/d) of natural gas as LNG from Trains 8 and 9 of the Corpus Christi Stage 3 Project, known as the Midscale Trains 8 & 9 Project.With the latest approval…

Singapore-based Seatrium has delivered a next-generation wind turbine installation vessel (WTIV) to Maersk Offshore Wind, following the completion of sea trials and final readiness evaluations.The custom-engineered vessel is designed to install 15+ MW-class offshore wind turbines and is equipped with a 1,900-tonne main crane featuring a 180-metre hook height.The construction program included heavy-lift operations, full system integration and validation by international classification…

Germany’s Ernst Russ has acquired two multi-purpose vessels, MV Ronnie and MV Charlie, as part of its long-term fleet strategy to expand exposure to the project cargo segment and strengthen predictable earnings.The Hamburg-based shipowner said both vessels have been fixed on seven-year charters to dship Carriers, a globally operating European company specialized in project cargo, providing long-term employment and improved cash flow visibility.The vessels, scheduled for handover in the first quarter of 2026…

Norwegian oil and gas company Aker BP has extended a contract for Eidesvik Offshore’s platform supply vessel (PSV) Viking Prince.The firm period for the PSV has been extended with approximately two months, and will run to end of April 2026. No additional details about the contract were disclosed.Viking Prince is a 2012-built platform supply vessel (PSV), with a deck area of around 1 050 m2.The 89.6 meters-long, liquified natural gas (LNG)-fueled vessel was upgraded to battery hybrid system and a shore power system in January 2022.

Dutch offshore services provider Boskalis, in consortium with TKF Subsea Solutions, has signed a contract with OWP Gennaker, as developed by Skyborn Renewables, for the supply and installation of inter-array cables for the Gennaker offshore wind farm in the German Baltic Sea.The contract for around 140 kilometers of 66 kilovolt inter-array cables has been classified by Boskalis as sizable, carrying a value between $58 million and $177 million (€50 million and €150 million).Under the agreement…

Kongsberg Maritime has been selected to supply a fully integrated equipment package for a next-generation ultra-large cable laying (CLV) vessel being built for LS Marine Solution at Tersan Shipyard in Türkiye.The vessel, designed to support growing global demand for subsea high-voltage direct current (HVDC) and optical cable installation, will be 148.4 meters long and 31 meters wide, with a cable carrying capacity of 13,000 tonnes and total displacement of 18,800 tonnes.It is…

Malaysia-based offshore support vessel (OSV) builder Nam Cheong has secured shipbuilding contracts worth $64.5 million from a UAE-based global energy maritime logistics company for the construction of four offshore support vessels, marking its first newbuild contract win in over a decade.The order comprises two dive support vessels (DSVs) and two 60-meter remote operated landing crafts (ROLC), with deliveries scheduled between the second half of 2027 and early 2028. All four vessels will be constructed at Nam Cheong’s Miri Yard in Sarawak…

The Bureau of Ocean Energy announced a Record of Decision reaffirming its prior decisions regarding Gulf of America’s Outer Continental Shelf Oil and Gas Lease Sales 259 and 261. This ROD supports BOEM’s continued commitment to responsible offshore energy development while strengthening environmental safeguards and legal compliance.This decision follows the August 29, 2025, publication of the Final Programmatic Environmental Impact Statement for Gulf of America Regional OCS Oil and Gas Lease Sales and Post-Lease Activities.

Shell and Greece’s METLEN have signed a memorandum of understanding (MoU) to establish a framework for cooperation in the supply and trading of liquefied natural gas (LNG).Under the agreement, the two companies plan to supply and trade approximately 0.5 to 1.0 billion cubic metres (bcm) of LNG per year over the five-year period from 2027 to 2031.Deliveries are expected to be made to the Greek LNG regasification terminals at Revithoussa and Alexandroupolis.The MoU also envisages…

OceanTools is celebrating two projects that highlight their engineering expertise and versatility. From designing subsea pressure housings for a well-known space technology company to creating solutions for the world’s deepest oceans, their housings deliver reliability and resilience in the most extreme environments.A major U.S. space technology company approached OceanTools with detailed specifications, and they designed and built a highly intricate pressure vessel to meet their requirements.