Offshore news

Investment to fall as Norway projects unwind while UK faces lowest spending in over 50 years.

The landmark agreement establishes the UK’s first commercial-scale lease of the seabed for permanent offshore CO2 storage and associated pipeline infrastructure, providing a template for future carbon capture and storage (CCS) projects around the UK’s coastline.

This contract marks fifth pre-commissioning scope for offshore Guyana.

By revitalising existing seismic and well data, this project will advance the understanding and promotion of Malta’s offshore petroleum potential in the Central Mediterranean.

Saipem announces that Aker BP has exercised a new option to extend the contract for the semi-submersible drilling unit Scarabeo 8, prolonging its deployment for an additional year.

The contract has a firm duration of five years, running until end of October 2030, with options to extend for up to an additional four years.

Watson Farley & Williams advised Borr Drilling Limited on the acquisition.

Wood Mackenzie releases five charts that spotlight the most significant trends reshaping the sector globally.

These are Equinor’s largest discoveries so far this year and can be developed for the European market through existing infrastructure.

New US$27 million EPCI contract with Equinor in the Norwegian North Sea.