Upstream news updates

Seatrium Limited has been awarded a contract from bp for the engineering, procurement, construction and onshore commissioning of the Tiber Floating Production Unit (FPU) project in the Gulf of Mexico.

Wood Mackenzie offers some key takeaways from COP30.

Norwegian Ocean services provider DeepOcean is close to finishing a contract from TotalEnergies involving the disconnection and towing of the Gryphon Alpha floating production storage and offloading (FPSO) unit, along with the removal of related subsea infrastructure.

Equinor CEO Anders Opedal said the move aligns with expectations of continued global demand for fossil fuels.

The agreement will become effective after the approval of the Uruguayan authorities.

Size of UK underwater market grows to £9.4 billion, but current UK govt policy is having negative impact.

Oil India Ltd (OIL) has finalised the capping of oil well KSG 76 at the Kharsang oilfield in the Indian state of Arunachal Pradesh following a blowout that resulted in an uncontrolled gas release.

This expansion increases Inchcape’s footprint in South Korea to three offices - Seoul, Busan, and now Geoje, covering 23 ports nationwide.

TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria (TEPNG) has completed the divestment of its 12.5% non-operated interest in the OML118 Production Sharing Contract (PSC).

The International Gas Union (IGU) and Hawilti, supported by Africa Finance Corp., have released the second edition (2025) of Gas for Africa Report.

Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of Shell plc, has completed the previously announced agreement and increased its stake in the OML 118 Production Sharing Contract (OML 118 PSC) from 55% to 65%.

OML 118 is an offshore Nigerian license that includes Bonga producing field, in which NAE holds non-operating interests.

The company is addressing outstanding issues including securing payment mechanisms for gas sales and an updated plan of development for the Jubilee oilfield.

The project is located within the Kepala Burung production sharing contract (PSC), specifically in the Arar block, approximately 23km east of the company’s existing Arar production cluster.

This development is part of a sequence of recent achievements in Egypt’s oil and gas exploration activities.

An independent study commissioned by Ithaca Energy and endorsed by OEUK shows that 65% of UK crude production ultimately serves the UK market through the European refining network.

Report notes that contractors have become central to the industry’s decarbonisation efforts.

Matthew Snape and Jennifer Knopf, Vink Chemicals, and Matt Streets, Rawwater, discuss long term preservative biocides for biogenic souring control.

Martin Harrop, Offshore Analysis Manager at Aquaterra Energy, discusses how offshore engineering analysis is becoming increasingly valuable in offshore oil, gas, and energy-transition projects.

Ocean services provider DeepOcean has been awarded a contract to provide subsea construction and tie-in work at a subsea field development on the UK continental shelf.

Liability figure points to significant opportunities for the decommissioning industry.

Under the contract, Wood will manage engineering, procurement and construction projects.

Oil giant ConocoPhillips says that is has struck gas off the coast of southeastern Australia after beginning its maiden exploration drilling on November 1, according to Reuters.

GeoComputing signs agreement with Murphy Oil subsidiary for RiVA platform deployment.