Increased drilling know-how and technology adoption is helping to build momentum at CNOOC Limited, including advanced tools for oil well intervention.
Most recently, the company announced the start of production from its Weizhou 11-4 Oilfield Adjustment and Satellite Fields Development Project in the Beibu Gulf Basin of the South China Sea, its latest completion.
Presenting its 2025 interim results, back in August, CNOOC flagged how it remained committed to innovation-driven growth, utilising digital and intelligent tools in its upstream work.
Net production increased by 6.1% year-on-year, while natural gas was up 12% in the same period, a reflection of its prowess in the field.
Key technologies for reserves and production growth were developed and applied, the company noted in a statement, while reserve utilisation and oil recovery rates continued to improve, and natural decline rates of oilfields offshore China remained at a low level.
“Intelligent injection-production technologies were deployed on a large scale to help control the natural decline rate,” the company added.
Advanced geophysical technologies were also applied to improve the quality of seismic data from deep plays.
CNOOC added that it promoted intelligent drilling and completion, with the construction speed of demonstration projects accelerating by 26%.
It also integrated satellite remote sensing, unmanned equipment, and AI algorithms, to enhance its emergency response capability against typhoon-related risks, laying solid foundation for safe production.
Its latest Weizhou 11-4 development, located in water depths of 43 metres, leverages various adjacent existing facilities.
The main production facilities include a newly-built unmanned wellhead platform and a central processing platform, connected to an existing platform through a trestle bridge.
Under the development plan, 35 development wells are set to be commissioned, including 28 production wells and seven water injection wells.
The project is expected to achieve a plateau production of approximately 16,900 barrels of oil equivalent per day in 2026.
The offshore decommissioning market is entering a phase of significant change, particularly across the Asia–Pacific region, where ageing infrastructure, evolving regulations, and rising environmental expectations are reshaping industry priorities.
Governments throughout APAC are tightening their regulatory frameworks, introducing more comprehensive guidelines to ensure that the dismantling of offshore assets is carried out responsibly and with minimal environmental impact. These regulatory pressures are pushing operators to embrace innovative, sustainable technologies as they update their decommissioning strategies.
A major influence on this shift is the accelerating move towards renewable energy. As countries in the region prioritise cleaner energy sources, many oil and gas platforms are being retired to make room for offshore wind developments and other low-carbon alternatives. This transition is generating sustained demand for specialist decommissioning services, creating opportunities for companies able to support safe and efficient asset removal.
Collaboration is also becoming a defining feature of the offshore decommissioning market. Operators, contractors, and regulators are increasingly pooling expertise to streamline projects, share resources, and establish consistent industry standards. This cooperative approach supports smoother project delivery while encouraging the development of best-practice frameworks across the sector. Governments are also placing greater emphasis on local content, encouraging the involvement of domestic firms and promoting workforce development around decommissioning activities.
Several key drivers are shaping the market’s expansion. Ageing offshore infrastructure remains one of the most pressing, with more than 200 platforms in APAC expected to require full decommissioning by 2030. Analysts anticipate an annual market growth rate of around 10% as companies tackle end-of-life assets and associated safety and environmental risks.
At the same time, investment in renewable energy across APAC is forecast to exceed US$50bn by 2027, accelerating the removal of outdated platforms to support offshore wind and related developments. Evolving regulatory structures, particularly in markets such as Australia and Japan, are expected to increase compliance costs by as much as 15% over the next five years, compelling firms to enhance their decommissioning frameworks.
Technological advances especially in robotics, automated systems, and remotely operated vehicles—are helping to reduce project costs by as much as 20% while improving safety and precision. These innovations are strengthening the competitiveness of companies adopting them.
Market segmentation highlights several trends: Well Plugging and Abandonment remains the dominant service type due to strict environmental requirements, while Pipeline and Power Cable Decommissioning is emerging rapidly in response to renewable energy expansion. Shallow-water decommissioning still holds the largest market share, though deepwater activity is growing quickly as operators venture into more challenging environments. In terms of structure, Topside remains the largest segment, with Substructure decommissioning expanding at the fastest pace due to improved removal techniques.
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 forward look for well services and interventions across the Asia Pacific market, and for other industry providers, bodes well as spending levels accelerate across the region.
In the latest insight paper by Westwood, offshore investment is expected to remain resilient despite a turbulent year for global oil markets.
Between 2025 and 2029, offshore engineering, procurement, construction and installation investment is projected to reach US$310bn globally, with APAC accounting for 27% of this spend, it notes.
Southeast Asia alone is set to award US$37bn in new offshore contracts, led by deepwater gas projects in Indonesia, and emerging carbon capture and storage (CCS) initiatives in Malaysia.
Thailand is also embarking on its maiden CCS scheme.
“Oil and gas companies – including regional NOCs – continue to prioritise decarbonisation, though the approach is evolving toward more disciplined oil and gas investment and cost efficiency,” Westwood notes in the paper.
“This shift is expected to drive down industry costs, even as supply chain margins remain under pressure.”
These macro trends are influencing not just oil and gas, but also the region’s growing offshore wind sector, it adds.
This could mean a weakening in rates for the offshore marine fleet that services the region’s oil and gas industry.
There are currently 84 active platform supply vessels and 449 anchor handling tug/supply vessels in the Asia Pacific region, operated by key incumbents such as Wintermar, HADUCO and Nam Cheong.
Dayrates for offshore support vessels have softened from recent record highs yet continue to exceed historical averages, according to Westwood, sustained by firm utilisation levels amid tightening supply as units are redeployed out of the region.
In its concluding remarks, Westwood notes that the Asia Pacific offshore market is navigating both challenges and opportunities as 2025 draws to a close.
From ageing fleets and cost pressures to the promise of offshore wind and deepwater gas, the region is poised to play a key role in the global energy transition, it adds.
As Asia Pacific continues to evolve, Westwood notes that staying informed and engaged will be key for all stakeholders across the energy value chain.
“As frameworks evolve and investment flows shift, collaboration between operators, service providers and governments will be essential to unlocking sustainable growth,” it states.
“Innovation in technology, financing and project execution will define the next chapter of offshore energy.”
With an aim to advance optimal and sustainable energy supply, PETRONAS, through Malaysia Petroleum Management (MPM), has signed several Memoranda of Understanding (MoUs) at ADIPEC 2025.
In the spirit of global collaboration and technology driven innovation, the MoUs include partners such as SLB, Beicip-Franlab, ConocoPhillips, Eliis, PTTEP, Microsoft, Shell, and TotalEnergies. The partnerships will drive seismic imaging and artificial intelligence (AI) and machine learning (ML) development enabled by high-performance computing (HPC).
Senior Vice President of MPM, Datuk Ir. Bacho Pilong, said, “Partnerships like these are essential in advancing Malaysia’s upstream landscape. By combining the strengths of energy operators and technology innovators we are not only strengthening our exploration and development capabilities but also setting the foundation for a more efficient and resilient Malaysia upstream sector."
The partners will work together to leverage dynamic modelling and agentic artificial intelligence (AI) for real-time data integration, uninterrupted predictive analysis, and proactive decision-making. With the deployment of Normally Unattended Facilities and Remote Autonomous Operations (NUF-RAO), partners can reap benefits right from subsurface evaluation to offshore facility optimisation.
These advancements will also support more efficient technical evaluations and investment decisions. These collaborations fit perfectly with MPM's managerial role in ensuring the best petroleum arrangements and drawing high-value upstream investments.
Tredwell, a leading Malaysian energy solutions provider, has announced the signing of a new distribution agreement with Matrix Composites & Engineering.
Under the agreement, Tredwell will distribute Matrix’s MAX-R low friction centraliser range across Malaysia, helping operators enhance well construction efficiency, safety, and sustainability.
Tredwell is a Malaysian-based energy solutions provider delivering innovative engineering and technology services to the oil and gas industry.
With a strong presence across East and West Malaysia, it specialises in well completion, well intervention, and drilling solutions, supported by in-house research and development and strategic global partnerships.
The company is committed to advancing operational efficiency and sustainability through high-quality, reliable, and cost-effective technologies.
The signing ceremony for the new distributorship took place at the Adipec industry showcase in Abu Dhabi, with Aaron Begley, CEO of Matrix Composites & Engineering, and Tengku Mohd Adam, CEO of Tredwell, formalising the agreement.
The new partnership strengthens Matrix’s presence across south-east Asia and expands its global network, according to Begley.
“Malaysia is a key market for Matrix, and this partnership reflects our commitment to delivering innovative composite solutions to operators in the region,” he said.
It also marks another milestone in Matrix’s strategy to expand its global reach through strong regional partnerships, enabling localised support and faster delivery of advanced composite technologies.
“We are excited to work with Tredwell to support customers in achieving operational excellence.”
Two engineering, procurement and construction (EPC) contracts have been awarded by PTT Exploration and Production Public Company Ltd. (PTTEP) to SLB’s OneSubsea joint venture for work in Malaysian offshore fields.
The contracts build on a 20-year collaboration between the two companies. As part of the EPC contracts, OneSubsea will deliver comprehensive subsea production systems for the Alum, Bemban and Permai deepwater gas fields located in Block H and the Kikeh field – Malaysia’s first deepwater oil project.
The scope of work includes horizontal subsea trees, umbilicals, control systems, and associated services.
Mads Hjelmeland, Chief Executive Officer at SLB OneSubsea, said, “We are proud to continue our long-standing relationship with PTTEP, which has seen the delivery of more than 50 systems over the past 20 years. By leveraging our experience in complex deepwater environments and adopting a highly collaborative, early engagement process with our clients, we will help PTTEP unlock maximum value from these projects.”
The Block H gas development began producing natural gas from the Rotan and Buluh fields in 2021, while the Kikeh oil and gas field has been in production since 2007. SLB OneSubsea’s experience of deploying technology in complex deepwater environments will further extend the life of these two fields.
Maritime Developments Ltd (MDL) has secured a significant subsea installation contract in the Asia-Pacific region, involving the laying of two subsea cables and two umbilicals.
The project, which will take place at water depths of between 800 and 1,200 metres, reinforces MDL’s growing footprint across the region.
The 60-day offshore campaign is scheduled to mobilise from Singapore in 2026, with MDL providing a complete flex-lay spread for the operation. This will include one of the company’s renowned Horizontal Lay Systems (HLS) - a compact, integrated package that has delivered proven results on both installation and decommissioning projects worldwide. The spread will also feature MDL’s high-capacity four-track tensioner and its flagship Reel Drive System (RDS), ensuring precision and reliability throughout the installation.
As part of its long-term strategy to support clients in the Asia-Pacific market, MDL recently opened a new regional office in Singapore. The hub will serve as a base for operations, project delivery, and client engagement across the Eastern Hemisphere.
The Singapore office is led by Bernice Tan, MDL’s Regional Manager for APAC, who brings more than 15 years of experience in the Asian energy sector, covering business development, commercial management, and supply chain operations.
“With years of experience promoting flex-lay equipment and services in the region, I’m thrilled to join MDL - a company that truly shares my values,” said Tan. “This expansion marks an important step in strengthening MDL’s ability to support clients globally. With our equipment now based in Singapore, we can deliver faster, more efficient, and localised service across Asia-Pacific.”
Tan added that her priority will be to work closely with long-standing and new clients as MDL continues to deliver world-class subsea engineering solutions to one of the world’s most dynamic offshore markets.
This contract highlights MDL’s commitment to providing innovative, cost-effective subsea solutions and underlines its ambition to be a leading provider of offshore installation services throughout the Asia-Pacific region.
Petronas, through Malaysia Petroleum Management (MPM), has launched the Hydraulic Workover Unit (HWU) Academy to develop Malaysian talent and strengthen national capabilities in well abandonment and decommissioning.
“The HWU Academy’s programmes are designed to equip Malaysians with the technical expertise needed to lead in emerging opportunities, complementing the national Technical and Vocational Education and Training (TVET) agenda for hands-on, industry-relevant training,” said Datuk Ir. Bacho Pilong, Senior Vice President of MPM.
Petronas noted in a statement that thenew academy underscores its commitment to ensure “the continuous development of skilled talent to support safe, cost-efficient and sustainable Plug and Abandonment (P&A) operations, a vital component of Malaysia’s upstream lifecycle.”
Building on a 2024 Memorandum of Understanding (MoU) between MPM and industry partners, the HWU Academy has progressed from concept to implementation, including two successful pilot training sessions to validate the programme framework.
Serving as a centre of excellence, it will provide hands-on training using retired assets such as the Velesto HWU Gait-01 training unit.
Learners will also benefit from technology-driven modules developed with Halliburton, featuring virtual reality simulators and digital learning tools to enhance technical proficiency and operational readiness.
In addition, the academy will strengthen academic–industry collaboration through strategic partnerships with leading universities such as Universiti Malaysia Sabah (UMS), Kolej Kemahiran Tinggi MARA (KKTM), Universiti Teknologi Malaysia (UTM), Universiti Teknologi PETRONAS (UTP) and Universiti Teknologi MARA (UiTM).
This will also include collaboration with key ministries such as the Ministry of Human Resources (KESUMA) and the Ministry of Higher Education (KPT), and the Malaysian Oil and Gas Services Council (MOGSC).
These collaborations aim to facilitate student enrolment, programme accreditation and grant accessibility, whilst attracting both local and international talent.
“This initiative aligns with Petronas’ aspiration to strengthen the local oil and gas ecosystem, empowering Malaysians to play a leading role in shaping the future of our industry,” said Pilong.
“Velesto Energy Academy and ZNUSS will be the first to embark on this exciting training journey. This partnership reinforces our collective commitment to continuity, consistency and standardisation in developing Malaysia’s HWU capability through the HWU Academy framework.”
The Shah Deniz consortium has recently awarded three significant offshore contracts valued at around US$700mn for the next phase of the Shah Deniz Compression (SDC) project.
These contracts, granted to the Saipem/BOS Shelf joint venture, will play a crucial role in expanding the capabilities of the Shah Deniz gas field, one of the world’s largest offshore gas reserves.
The work covered by the new contracts includes the transportation and installation of a 19,000-tonne compression platform, set to be placed in the Caspian Sea. Additionally, the project will involve the construction and installation of approximately 26 km of offshore pipelines, which will link the new compression facility with existing infrastructure at the Shah Deniz field.
Onshore activities will take place at the Baku Deep Water Jacket Factory, operated by BOS Shelf, while offshore construction will be carried out using two of Azerbaijan’s flagship vessels: the Khankendi subsea construction vessel, owned by the Shah Deniz consortium, and the Israfil Huseynov pipelay barge, owned by Azerbaijan Caspian Shipping Company (ASCO). Both vessels will be operated by Saipem, under the terms of the contracts.
According to Matt Kirkham, BP’s Vice President of Projects for Azerbaijan, Georgia, and Turkey, said, “With the award of these new contracts for major construction and installation works, we are making significant progress on the SDC project. The contracts will fully leverage local fabrication yards and infrastructure, engaging the local workforce. This once again demonstrates that Azerbaijan possesses world-class onshore fabrication and offshore installation capabilities that fully meet international standards. Just one example – between 2026 and 2028, a total of 3,040 tonnes of subsea structures will be fabricated and installed as part of the SDC project. It’s a remarkable piece of activity that highlights the scale and ambition of what we are delivering. I would like to thank everyone who was involved in finalizing these important contracts.”
Offshore work is expected to begin in the third quarter of 2026, with the overall project slated for completion in 2029. This ambitious US$2.9bn project aims to access and produce low-pressure gas reserves, with a target of adding 50 bn cubic metres of gas and 25mn barrels of condensate to the Shah Deniz output.
The new compression facility will be located about 3 km from the existing Shah Deniz Bravo platform in 85 metres of water. Equipped with four 11-MW compressors, the facility will be integral in compressing gas from the Shah Deniz Alpha and Bravo platforms before it is transported to the Sangachal terminal for export.
With construction set to wrap up by 2029, the SDC project will position the Shah Deniz field as a vital player in the global energy market for years to come.
Ventura Offshore’s Catarina team recently participated in the Well Operations HSE Forum, organised by Eni Indonesia, reaffirming the company’s long-term commitment to safety and operational excellence in the sector.
SSV Catarina is a Ventura-owned semi-submersible rig, currently performing various assignments in the area — all of the company’s other vessels are working offshore Brazil.
The Well Operations HSE Forum was attended by Ventura’s CEO, Guilherme Coelho, and its COO, Luis Mariano, reflecting the significance of its current activities in the Asia Pacific region.
At the start of October, Ventura Offshore announced in a statement to the Oslo stock market that Eni Indonesia had exercised the second of four optional wells in Indonesia for the Catarina, following a first extension back in June.
The announcement is expected to keep the rig utilised into Q1 2026 and further increases the firm backlog of the company by approximately US$10mn, Ventura Offshore noted in the statement.
“Further exercise by Eni of the remaining two optional wells in Indonesia could keep the rig utilised through Q2 2026,” it added.
In its Q2 2025 results, Ventura Offshore also announced additional operating expenditure for ancillary services for the Catarina contract, to be fully reimbursed by its customer, plus a market-based margin.
Eni has been operating in Indonesia since 2001 and has a portfolio of assets spanning exploration, development and production.
It has a current equity production of around 95,000 barrels of oil equivalent per day in East Kalimantan.
Hibiscus Petroleum has outlined how its commitment to excellence in well management and services and other offshore operations have been recognised by Malaysian authorities.
In an October investor presentation, the company outlines various awards by state operator Petronas in 2025, in areas such as production enhancement and idle well reactivation at South Furious in North Sabah.
It is also recognised for its well management in lost time and injury, optimising and sustaining output, as well as proactively converting high pressure gas to a low pressure system for production optimisation.
The company also works with leading offshore contractors and service providers, including EEST, which completed a contract in 2023 for well intervention services on its Malaysian assets.
This project entailed the provision of well workover, re-completion and well plug and abandonment services using the EEST-502 hybrid hydraulic workover unit.
In the presentation, Hibiscus said that “invaluable goodwill with regulators” had created access to further opportunities.
As well as maximising potential from existing assets offshore Malaysia — and in other territories across Asia, including Brunei and Vietnam — Hibiscus is also stepping up its commitment towards net zero 2050 and various transition initiatives.
This includes leveraging on core competencies to operate and maintain decentralised power generation with strategic collaborations in this niche set to be announced in due course. the company noted.
The group already generates 126 megawatts (MW) of power offshore across its assets and the intention is to transfer this know-how to address electricity generation, specifically to support data centres or the semi-conductor industry in Malaysia, it added.
The company also intends to invest in solar projects for internal use to reduce operating expenditure on oil and gas assets, with a potential new 12 MW solar farm in Brunei for a low-pressure compressor project.
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