With an aim to expand its engineering and procurement services to support operations and decommissioning in the North East, Tattva Group has announced a UK£2mn investment in Project Development International (PDi).
This will support not only the advancement of PDi’s offerings in subsea engineering and decommissioning but also enhance its wider engineering services in topsides. This allows the company to serve the nation at an apt time, as it navigates policy uncertainty and supply chain volatilities.
Welcoming the move as 'a vote of confidence' for PDi, the company's new CEO, Girish Kabra, said, “Tattva Group’s commitment to PDi — especially amid current policy uncertainty from the UK Government and pressures facing the supply chain – is welcomed, to boost workforce confidence and support the collective regional effort to retain skills in the North Sea.”
“This strategic capital injection of UK£2mn empowers us to expand and elevate our engineering and procurement services, with a sharpened focus on supporting late-life asset management and decommissioning activities. We’re committed to delivering even more flexible and value-added solutions, addressing the evolving needs of the UK energy sector and solidifying PDi’s position as a key partner in the North Sea’s future. This investment means greater capacity, deeper expertise, and a more robust offering to help all our clients and customers navigate their operational and decommissioning challenges efficiently and effectively.”
Explaining the copmpany's strategy behind the move, TR Narayanaswamy, Group Chairman of Tattva, said, “We see a gap in the market where operators are seeking more flexibility and value-added service offerings...With its refreshed management team and focus, PDi is uniquely positioned to meet that need and deliver long term value to clients.”
Improved efficiencies and experience may help to ease the cost of decommissioning Australia’s ageing offshore oil and gas infrastructure, a new report suggests.
The Department of Industry, Science, and Resources recently commissioned consultancy, Xodus Group, to explore the nation's overall decommissioning liabilities.
The report — Australian Offshore Oil & Gas Decommissioning Liability Estimate 2025 — estimates the industry will spend A$43.6bn through to 2070, rising to A$66.8bn when factoring in inflation.
This includes all fixed and floating facilities, rigid and flexible lines, subsea infrastructure and wells.
It added that around 55% of the decommissioning spend will occur before 2040, with 61% of the liability focused on Western Australia, 23% in Victoria and 16% off the Northern Territory.
The decommissioning of wells represents the single largest portion of the decommissioning liability, with an estimated cost of A$17.9bn, the report added, followed closely by pipeline decommissioning, with an estimated liability of A$17.85bn.
The report noted that decommissioning practice and technology have already improved since 2020, a trend that could continue, yielding benefits along the way.
There is an opportunity for further improvements in efficiency, it added, through operator cooperation when decommissioning, in addition to further technological advances and industry investment in onshore disposal and recycling.
“Possible cost reductions primarily relate to the opportunity for efficiencies, technological development and future infrastructure investments,” it stated.
These include:
Single and multiple operator campaigns to distribute the costs of equipment and vessels across multiple assets.
A dedicated disposal yard for deconstruction and cleaning.
Domestic steel recycling to reduce the amount of steel which is exported for recycling.
Aligning decommissioning campaigns with offshore wind construction to reduce vessel mobilisation rates.
Implementing new technologies and/or engineering practices to ensure that the most appropriate and efficient methodology, vessels, and equipment are used to perform decommissioning activities. Here, it cites the example of changes in the commonly accepted removal methodologies for certain infrastructure types.For example, reverse s-lay was previously considered the only methodology for recovery of pipelines — however, cut and lift now remains the most accepted method for pipeline removal.
Other findings in the report highlight the sheer magnitude of the task now facing contractors and operators across the board, with at least 2.7 million tonnes of infrastructure set to be removed, including a large portion of steel, with huge potential for local recycling.
Saudi Aramco has deepened its long-standing relationship with the United States by signing 17 new memoranda of understanding and agreements worth more than US$30bn, marking another significant step in its strategy to broaden global partnerships and support long-term growth.
These latest commitments span a wide range of sectors, from liquefied natural gas (LNG) and advanced materials to financial services and industrial supply chains, reinforcing Aramco’s position at the centre of global energy and technology collaboration.
The new deals build on the company’s earlier announcement in May 2025, when Aramco unveiled 34 MoUs and agreements with a combined potential value of around US$90bn. Together, the partnerships announced this year now approach an impressive US$120bn, reflecting a sharp expansion of its collaborative pipeline with American companies.
A major emphasis of the new agreements lies in LNG development. Aramco signed an MoU with MidOcean Energy linked to potential investment in the Lake Charles LNG project on the US Gulf Coast. The company is also assessing opportunities for cooperation with Commonwealth LNG on its liquefaction project in Louisiana, including discussions involving potential LNG and gas purchases through Aramco Trading. These moves highlight the Saudi energy giant’s increasing interest in global LNG markets as demand continues to evolve.
Aramco also strengthened ties with leading US suppliers such as SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley and Fluor. These agreements reflect ongoing requirements across the company’s upstream and downstream operations, ensuring continued access to essential materials, engineering services and procurement support.
In the field of advanced materials, Aramco extended its existing MoU with Syensqo to examine opportunities for localising the production of carbon fibre and composite materials, a sector seen as increasingly important for industrial innovation and lightweight manufacturing.
Financial services were another key focus. Wisayah, Aramco’s investment arm, entered into asset management and investment agreements with Loomis Sayles, Blackstone and PGIM, while Aramco reached a strategic partnership with J.P. Morgan centred on cash account management.
Amin H. Nasser, Aramco President and CEO, said,“Since the 1930s, US firms have played a major role in supporting the company’s success… We expect the multi-billion dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco’s longstanding legacy of collaboration with American counterparties and unlocking new value creation opportunities that promote innovation and growth."
TechnipFMC has secured a major integrated EPCI contract from Italian energy company Eni for the deepwater Maha development offshore Indonesia, marking another significant step in their long-standing collaboration.
This project is particularly notable as it will be the first time Eni deploys TechnipFMC’s Subsea 2.0 configure-to-order technology in Indonesia, signalling a shift towards more standardised and efficient subsea solutions in the region.
Building on the companies’ previous successes at Jangkrik and Merakes, the new Maha facilities will be connected to the existing Jangkrik floating production unit (FPU). Under the scope of work, TechnipFMC will handle the design and manufacture of subsea tree systems, flexible flowlines, a manifold and associated control systems, and will also oversee the installation of the full subsea production package.
Although the precise contract value has not been disclosed, it is classified as a substantial award, indicating a worth in the region of US$250mn to US$500mn.
Jonathan Landes, president of subsea at TechnipFMC, said, “The Maha development provides a significant opportunity to strengthen our relationship with Eni and deliver greater timeline certainty through the application of Subsea 2.0 technologies and integrated delivery.
The Bouri Gas Utilisation Project development in Libya that aims valourising the associated gas from the Bouri field will involve work class ROVs performing offshore touch down monitoring.
Specialised vessels by Next Geosolutions called NG Worker and NG Surveyor will be deployed for the operations in line with around €8.5mn-worth survey and support-to-installation contract awarded by Saipem.
A significant project including complex construction and pipelines delivery, Saipem will be handling the installation of a new Gas Recovery Module, along with a series of upgrades and enhancements to the existing infrastructure. Its contract with Next Geosolutions include optional extensions following operations in Q4 2025.
NextGeo, which mainly deals in renewables and subsea power cables, is excited to have stepped into the oil & gas segment with this significant project from North Africa. It is an addition to another major contract from the same project that was landed last July by the company's affiliate Rana Subsea. Valued at approximately €62.6mn, the contract mandates Rana Subsea to provide specialised subsea services and installation support operations, extending through Q2 2026.
Giovanni Ranieri, CEO of Next Geosolutions, said, “The award of these new contracts with Saipem marks a significant step forward in the growth path of our Group. The joint presence of NextGeo and Rana Subsea in the same project clearly demonstrates the full complementarity of our expertise and our ability to operate in synergy across different yet closely integrated activities, positioning ourselves as a single, trusted partner for the development of complex projects. This is a collective achievement that strengthens our Group identity and represents a natural evolution towards an increasingly integrated, competitive, and operationally excellent model.”
The offshore drilling industry is entering a period of vigorous growth as operators worldwide accelerate exploration and production to meet rising energy demand, according to The Business Research Company.
Valued at US$33.53bn in 2024, the sector is projected to climb to US$36.28bn in 2025. This reflects a compound annual growth rate of 8.2%.
The expansion follows a decade shaped by strategic discoveries of deepwater reserves, improvements in offshore infrastructure, and increasing global energy consumption. The depletion of easily accessible onshore resources and the availability of specialised offshore expertise have further reinforced activity across major basins.
Looking ahead, the offshore drilling market is forecast to reach US$49.67bn by 2029, maintaining the same growth trajectory of 8.2%.
This forward momentum is driven by renewed investment aimed at strengthening energy security, securing supply chains, and expanding access to capital. Governments and operators alike are also responding to evolving climate regulations and rising expectations around safety, prompting upgrades to equipment and operational standards.
Technological transformation is set to become a defining feature of the forecast period. Operators are expected to increase the use of digital tools, integrate drilling operations into hybrid renewable energy systems, and push further into ultra deepwater territories. Advances in seismic imaging and the adoption of digital twin technology will play a central role in improving accuracy, reducing risk, and optimising asset performance.
A primary force behind the market’s expansion is the steady rise in global consumption of oil and natural gas. These fuels remain vital to heating, power generation, and transport, making them central to energy systems around the world. Economic growth, increasing populations, and the continued shift toward cleaner burning fuels in power and transport sectors are amplifying demand.
Offshore drilling offers the ability to tap large reserves beneath the seabed, thereby ensuring continued supply. Data from the United States Energy Information Administration illustrates this trend. By the end of 2022, proven US crude oil and lease condensate reserves rose by 9% to reach 48.3 billion barrels. Natural gas reserves increased by 10%, climbing to 691 trillion cubic feet. Such figures highlight the sustained appetite for exploration and the vital role offshore assets will continue to play.
Across Europe, leading operators are pursuing competitive advantage through robotics and artificial intelligence. A notable example emerged in 2024 when Schlumberger and Equinor achieved a milestone in autonomous drilling on the Peregrino C platform. Using cloud based applications and AI driven planning tools, the partners succeeded in autonomously drilling 99 per cent of a 2.6 km section. The project demonstrated not only improved efficiency and lower operational costs but also meaningful reductions in carbon emissions.
Asia Pacific remained the world’s largest offshore drilling region in 2024, followed by Western and Eastern Europe, North America, South America, the Middle East, and Africa.
Ocean services provider DeepOcean has been awarded a contract by Equinor to provide various subsea construction and installation activities as part of the Snorre Export and Import Gas Project (SNEIG) for offshore execution in 2026
The SNEIG project is part of the broader Snorre Expansion Project, which aims to extend the production life of the Snorre oil and gas field – originally discovered in 1979 and operational since 1992 – beyond 2040. The Snorre field is located in the Tampen area of the northern North Sea, in water depths of 300–350 meters.
DeepOcean’s scope of work includes installation of a subsea safety isolation valve (SSIV), a subsea umbilical, and tie-in to the existing pipeline using connectors and associated tooling from the Pipeline Repair and Subsea Intervention (PRSI) pool.
DeepOcean will also provide preparatory subsea construction activities include isolation pig tracking, pipeline coating removal and cutting operations. Suitable crossings for the new umbilical will also be prepared and installed at the field before various mechanical completion and commissioning activities are performed.
“This is a complex subsea project that underlines Equinor’s dedication to responsible resource utilisation through life-of-field extensions. Through our in-depth knowledge of the specialised tooling from the PRSI pool, matched with our highly capable construction vessel fleet, I am confident that our skilled project team will ensure a safe and successful project execution in close cooperation with Equinor,” says Olaf A. Hansen, managing director of DeepOcean’s European operation
The award also includes the provision of onshore engineering, procurement and project management services. DeepOcean will manage the project out of its office in Haugesund, Norway.
Offshore operations will be executed during the summer season of 2026 using a subsea construction vessel from DeepOcean’s chartered fleet.
Promethean has announced its Q4 Gulf of Mexico mobilisation, marking the beginning of a new operational phase dedicated to safe and complaint decommissioning.
Committed to operational excellence and continuous improvement, Promethean has embedded integrated data management and innovative technologies into its work processes after recognising that a significant number of safety incidents go unnoticed until they result in workplace incidents.
To address this critical gap, Promethean has partnered with Detect Technologies to implement an innovative visual AI monitoring system, T-Pulse, on decommissioning projects. The technology enhances HSER practices by integrating visual data sources, including fixed cameras and robotic systems to analyse imagery and extract actionable insights on safety compliance and risk mitigation.
Danny Turner, SVP Projects, said, “The meticulous planning over the last three months reflects Promethean Energy’s steadfast commitment to doing decommissioning the right way, with safety, environmental stewardship, a technical excellence, and cost efficiency at the forefront. Our structured approach ensures that every stage, from platform preparation to post-plugging verification, delivers long-term integrity and measurable value to our stakeholders.”
The scope of work is organised under five key operational phases:
This milestone underscores the operator’s continued leadership in delivering efficient and technically robust decommissioning programmes across the Gulf.
Two substantial platforms in the Gulf of America were subjected to comprehensive full-cycle offshore decommissioning campaigns by MC Offshore Petroleum, which also advanced environmental stewardship.
A multi-asset operation, the campaign involved the retirement of the Jolliet Tension Leg Well Platform (TLWP) in Green Canyon Block 184 and the fixed production infrastructure at Marquette comprising a production platform, GC52A, and a processing platform, GC52CPP, in Green Canyon Block 52. These will be further converted into an artificial reef in Green Canyon Block 52.
When installed as the first TLWP in the Gulf of America, Jolliet came to be known as the world's deepest floating production unit at the time of installation. The current campaign honours the platform's legacy while establishing a model for the next generation of offshore decommissioning excellence.
Right from the planning stage in 2022, MCOP has followed a strategy to execute the removals ahead of the peak months of hurricane season. The final decision to begin decommissioning operation was made in the first quarter of 2024. Decommissioning operations, along with the plug and abandonment of all wells on GC 52-A (Marquette) and GC 184 (Jolliet), were set to begin with an execution team in place by the second quarter of 2024.
With the well P&A work underway, pipeline abandonment operations begun as three pipelines were flushed and abandoned. The project team also abandoned another 24-mile pipeline belonging to a midstream operator that originated at GC52.
The decommissioning of the Jolliet TLWP and removal of GC52A and GCS2CPP was made possible with high-level engineering work. Disconnecting the TLWP tendons from the template, ballasting the JOLLIET TLWP during tendon removals and towing the platform to Port Aransas were backed by extensive planning.
The Institute for Energy Economics and Financial Analysis (IEEFA) has published its responses to the Victorian Legislative Council Environment and Planning Committee and its inquiry into the decommissioning of oil and gas infrastructure.
IEEFA is an independent energy finance think tank that examines issues related to energy markets, trends and policies.
The Institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.
In a statement published on its website, IEEFA noted that Victoria is in a “unique position” to establish a decommissioning industry, given the state has some of the oldest oil and gas extraction infrastructure in Australia “and therefore has a greater proportion of its property and equipment ready for decommissioning.”
It also called on the Victorian government to ensure decommissioning work is undertaken in an orderly and transparent manner.
“This will help to keep cost downs and provide opportunities for the state’s oil and gas workforce and contractors to move into the next phase of oil and gas lifecycle, decommissioning.
Victoria’s decommissioning asset profile includes 22 platforms, over 2,000 km of pipelines and umbilicals, as well as around 460 wells to be plugged and abandoned, according to the National Offshore Petroleum Safety and Environmental Management Authority (Nopsema).
The infrastructure earmarked for decommissioning offshore Victoria is owned and operated by a handful of companies.
Historically, the largest oil and gas producing complex is the Gippsland Basin Joint Venture (GBJV), also known as the Bass Strait project. This year, Woodside took over as operator of the venture from ExxonMobil, which had operated the project since 1969.
Other companies with decommissioning liabilities offshore Victoria include Beach Energy and Amplitude Energy.
Last week the industry’s finest gathered in Aberdeen to see who will be crowned this year’s well intervention champions!
The annual celebration saw a panel of expert judges acknowledge the very best in global well intervention excellence.
This year’s winners included:
A huge congratulations to all the winners and nominees, and a big thank you to everybody who attended! We look forward to another year of seeing this industry push boundaries and drive the wider offshore community into the future.
Archer Limited will be delivering a P&A unit, which is much lighter than usual, for the Fulmar platform in North Sea.
The unit will be deployed as part of an additional contract linked to a five-year agreement with Neo Next Energy.
While the P&A unit will be replacing one of Archer’s modular drilling rigs, the expanded scope of the new contract will cover platform drilling, facilities engineering, coil tubing, wireline services, and downhole well service technologies across Neo Next’s offshore portfolio. This portfolio includes integrated drilling and well services for late-life operations and P&A activities for approximately 130 wells, requiring safe and cost-effective project delivery.
Alexander Olsson, EVP Platform Operations Archer, said, “We are very pleased with this contract award as this anchors our strategic focus on late life and P&A operations. This amendment reflects our ability to grow long-term client relationships by delivering value through operational excellence and innovative solutions. Archer’s capabilities to offer lighter, leaner and more cost-efficient P&A units, is a competitive advantage as the demand for cost efficient P&A programmes grow. We are proud to extend our collaboration with NEO NEXT in this area.”
Page 1 of 108
