Upstream news

TotalEnergies announces the completion of the merger between NEO NEXT and TotalEnergies’ UK upstream oil and gas business.

The move significantly expands Acteon’s global engineering capability and creates one of the industry’s most comprehensive fixed platform offerings.

Forum Energy Technologies’ subsea product line has secured a contract for long-term client DOF.

The collaboration will focus on optimising Viridien’s seismic imaging algorithms on NVIDIA accelerated computing platforms.

Nearly all 2030 targets now unattainable despite historic coal phaseout; offshore wind deployment trails by 20% as government races to address grid bottlenecks and spiralling costs.

The agreement, which commenced in early 2026, covers inspection and technical staffing services in support of multiple upstream energy projects and emerging new energy initiatives in Colombia and beyond.

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

The report identifies five key themes that will shape the upstream sector in 2026 as operators balance capital discipline with strategic portfolio positioning for the 2030s.

The combination of new 3D data acquisition, reprocessing of legacy surveys and faster permitting is offering clearer geological insight and reducing risk – giving governments and investors renewed confidence in frontier exploration.

The Nashville exploration well was drilled more than five miles beneath the seabed and confirmed high-quality oil in one of the Gulf’s most promising deepwater formations.