HELLENiQ Energy has confirmed its participation, in partnership with Chevron, in the Call for Tenders issued by the Ministry of Environment & Energy (FEK 2104/30.04.2025) for hydrocarbon exploration and production rights in four offshore blocks located south of the Peloponnese and south of Crete.
The joint offer was formally submitted on 10 September, in line with tender regulations.
This step marks a significant milestone for HELLENiQ Energy as it builds on its existing exploration and production portfolio in Greece, reinforcing the company’s commitment to supporting the country’s energy ambitions and strengthening its upstream activities.
For Chevron, the participation represents a strategic new entry into the Greek energy market, underscoring the international appeal of Greece’s offshore potential.
The partnership between HELLENiQ Energy and Chevron combines deep technical expertise, operational experience, and financial strength, positioning the consortium as a competitive player in unlocking the hydrocarbon resources of the region.
If awarded, the project is expected to contribute to enhancing domestic energy security, diversifying supply sources, and supporting the wider energy transition goals of Greece and the European Union.
Stavros Papastavrou , Greek Minister of Environment and Energy, said on Wednesday, "Today, the Chevron and HELLENiQ Energy consortium announced its participation in the international competition for the 4 offshore blocks south of Crete and the Peloponnese. Thus, a new chapter opens for the exploitation of the underwater energy wealth of our homeland."
"This is a development of Hope and Perspective for our country. Greece, with national self-confidence, is laying solid foundations for its energy self-sufficiency and capitalising on its geopolitical position in the Eastern Mediterranean. The Government of Kyriakos Mitsotakis is fulfilling its duty to our children and future generations, implementing its commitments for a Greece that is energy secure, investment attractive and geopolitically strong. Starting tomorrow, we are moving forward even more decisively, faster, unlocking our country's potential for progress and prosperity for all Greek women and men."
Europe’s offshore oil and gas sector is witnessing a wave of technological advancements in subsea production and well intervention. From all-electric subsea systems to automated clamp installations, operators and technology firms are driving efficiency, safety, and energy resilience across the continent’s offshore fields.
Subsea7 Sakarya Phase 3 Contract
Subsea7 has secured a major contract with Turkish Petroleum Offshore Technology Centre (TP-OTC) for Phase 3 of the Sakarya field in the Black Sea. The EPCI scope covers subsea umbilicals, risers, and flowlines, with execution managed from Subsea7’s Istanbul office. David Bertin, Senior Vice President, highlighted the award as strengthening Subsea7’s track record in Türkiye while reinforcing its role in supporting the country’s strategic energy goals. Türkiye Business Unit Director, Hulya Ozgur, further emphasized the project’s contribution to energy independence and local content development.
SLB OneSubsea All-Electric Breakthrough
SLB’s OneSubsea joint venture with Equinor has been awarded an EPC contract for a 12-well, all-electric subsea production system at the Fram Sør field offshore Norway. The development, executed as a tieback to the Troll C platform, will minimize topside modifications while significantly lowering emissions. SLB OneSubsea CEO, Mads Hjelmeland, described it as “the first large-scale all-electric subsea production system,” unlocking future tieback opportunities and enabling more marginal resource development on the Norwegian Continental Shelf.
Ace Well Technology’s Automated Clamp Success
Ace Well Technology, with partners Expro and Archer, has completed the first offshore deployment of its Ace Control Line Clamp (ACLC) using Expro’s Remote Clamp Installation System (RCIS) on the Norwegian Continental Shelf. Built on Ace’s proven ratchet technology, the system achieved installation speeds of 15–16 joints per hour with consistent precision. Technology manager Anbjørn Kaurstad highlighted its ability to reduce red zone exposure, while Archer’s Bjørn Christensen praised its contribution to safety and operational consistency.
Ace Well Technology, in collaboration with Expro and Archer, has successfully completed the first well deployment of the Ace Control Line Clamp (ACLC) using Expro’s Remote Clamp Installation System (RCIS) on the Norwegian Continental Shelf (NCS). This marks a significant milestone in advancing well completion operations through automation, combining precision engineering and operational efficiency.
“The ACLC was engineered with the objective of maintaining mechanical robustness while enabling remote installation under dynamic rig conditions. By leveraging our proven ratcheting mechanism, we’ve developed a clamp that delivers consistent holding force, precise alignment, and rapid installation - whilst significantly reducing red zone exposure. This first deployment confirms the system’s performance in real-world conditions and validates the design choices that underpin its functionality,” said Anbjørn Kaurstad, technology manager at Ace Well Technology.
The operation was carried out with Archer as the drilling contractor, who welcomed the new system for its operational consistency and technical advantages. “We’re excited to join this breakthrough – hands-free completion enhances safety and efficiency by reducing manual risks and delivering more consistent results. Upholding strong QHSE standards is vital to every project, and this innovation helps us protect our team while improving the quality of our deliveries,” said Bjørn Christensen, One Archer Manager FLX.
Built on Ace’s proven Ace Ratchet Collar (ARC) technology, the ACLC automates control line clamp installation while maintaining reliability under rigorous well conditions. The combined ACLC and RCIS system performed seamlessly during the first deployment, achieving a peak running speed of 15–16 joints per hour. All clamps functioned as designed, with control lines securely fastened throughout the operation and an average installation time of around 50 seconds per joint.
The ACLC concept was initiated in 2020 at the request of Equinor to improve completion operations by integrating automation. Ace Well Technology partnered with Expro to develop the system, combining Ace’s expertise in mechanical downhole solutions with Expro’s remote handling technology. The collaboration culminated in this successful deployment, demonstrating both the technical capabilities and operational efficiency of the system.
The achievement represents a significant step in the evolution of well completion processes, showcasing how automation can streamline installation tasks while maintaining reliability and precision. Interested readers can watch a video demonstration of the RCIS system on YouTube to see the operation in action.
This first deployment of the ACLC with RCIS underlines the growing role of technology-driven solutions in the oil and gas sector, illustrating how engineering innovation can enhance performance, consistency, and operational excellence on the Norwegian Continental Shelf.
Global energy technology company SLB has announced that its OneSubsea joint venture has secured an engineering, procurement, and construction (EPC) contract from Equinor for a 12-well, all-electric Subsea Production System (SPS) in the Fram Sør field, located offshore Norway.
The contract follows a year-long collaborative Front-End Engineering Design phase during which Equinor and SLB OneSubsea jointly advanced the project. This collaboration resulted in the finalized development plan and final investment decision (FID). Under the EPC scope, SLB OneSubsea will provide four subsea templates and 12 all-electric subsea trees. This eliminates the need for hydraulic fluid supplied from the host platform and minimizes topside modifications, offering a cost-efficient solution while preserving topside capacity for potential future developments in the area.
"Fram Sør is a breakthrough project for our industry, marking the first large-scale all-electric subsea production system," said Mads Hjelmeland, chief executive officer of SLB OneSubsea. "Not only do all-electric subsea solutions significantly reduce topside needs to make large-scale tiebacks such as the Fram Sør development possible, but they also hold the key to unlock more marginal resources through their reduced footprint and simplified operations."
The development will be executed as a subsea tieback to the Troll C host platform in the North Sea, enhancing energy supply security from the Norwegian continental shelf (NCS) to Europe. Since the host platform is powered from the Norwegian mainland, production from Fram Sør will have very low emissions.
The contract remains subject to regulatory approval of the plan for development and operations (PDO).
Subsea7 has secured a major contract with Turkish Petroleum Offshore Technology Centre (TP-OTC) for the development of Phase 3 of the Sakarya field development in the Black Sea.
Subsea7’s scope includes engineering, procurement, construction and installation (EPCI) of the subsea umbilicals, risers and flowlines. Progress will begin immediately and will be managed by the Subsea7 office in Istanbul.
David Bertin, Senior Vice President for Subsea7 Global Projects Centre East, said, “This awards builds on our track record in Türkiye and further reinforces our relationship with TP-OTC, demonstrating Subsea7’s expertise in delivering complex, integrated offshore projects safely and reliably. It underlines our commitment to supporting Türkiye’s strategic energy goals and advancing our strong regional presence.”
Hulya Ozgur, Subsea7’s Türkiye Business Unit Director, commented, “We are proud to continue our journey with TP-OTC on the Sakarya Gas Field Development Project, supporting Türkiye’s vision for energy independence. This new award reflects the dedication and capability of our Türkiye team, our commitment to local content development, and our focus on delivering safe and efficient offshore solutions.”
In June 2025, Equinor and Shell announced the creation of Adura, a joint venture poised to become the UK North Sea’s largest independent oil and gas producer.
First revealed in December 2024, Adura merges the offshore oil and gas assets and expertise of two energy giants to sustain domestic production and enhance UK energy security.
Headquartered at the Silver Fin building in Aberdeen, Adura is deeply rooted in the city’s legacy as the UK’s energy capital.
The name Adura, combining the “A” of Aberdeen with the “dura” of durability, reflects the venture’s foundation in the granite-strong energy community and its commitment to the North Sea’s long-term future.
The company will manage key assets, including Equinor’s stakes in Mariner and Buzzard and Shell’s interests in Shearwater, Penguins, Gannet, Nelson, Pierce, Victory, Clair, and Schiehallion, alongside various exploration licenses.
Adura is projected to produce over 140,000 barrels of oil equivalent per day in 2025, with ambitions to reach 200,000–220,000 boed within five years as new projects come online.
Since its naming, Adura has progressed toward its planned launch by the end of 2025, pending regulatory approvals.
Approximately 1,300 employees from Equinor and Shell are transitioning to the venture, with Shell staff already based at Silver Fin and Equinor’s workforce relocating from Kingswells in phases through 2026.
This move reinforces Aberdeen’s role as a global hub for energy expertise. Equinor’s £6bn in deferred tax losses will bolster Adura’s financial flexibility, while Shell’s robust production capacity enhances cash flow, positioning the venture for cost-competitive operations in a maturing basin.
Camilla Salthe, senior vice president Equinor UK Upstream, said, “We are so pleased to have reached this major milestone in the creation of the new company with Shell. For us, the name Adura represents the very heart of this company and speaks to its people and place within the energy community anchored in Aberdeen, alongside its longevity and commitment to the North Sea.”
Simon Roddy, senior vice president Shell UK Upstream, said, “Adura takes an exciting step forward today as we unveil its new name – rooted in a proud history in the North Sea and looking forward with confidence to delivering secure energy for the UK for many years to come.When Adura launches later this year it will become the UK’s largest independent producer. Through combining assets and expertise, we will create a robust portfolio, with a shared purpose, to unlock long term value.”
Norway is moving ahead with new oil and gas exploration in an effort to sustain long-term production on the Norwegian continental shelf.
The Ministry of Energy has officially initiated the process for the 26th licensing round, opening the door for companies to nominate acreage for potential development.
“Norway will remain a long-term supplier of oil and gas to Europe, while the Norwegian continental shelf will continue to create values and jobs for our country. To deliver on this commitment, we must make more discoveries — and to make more discoveries, we must explore. That is why today we are launching the process for the 26th licensing round for awarding new production licenses,” said Minister of Energy Terje Aasland.
The announcement coincides with Aasland’s inauguration of the Johan Castberg field in the Barents Sea, one of the largest new projects on the shelf in recent years.
Much of Norway’s remaining oil and gas resources have yet to be proven, making new exploration critical. Without fresh discoveries, production is expected to gradually decline from the early 2030s. Alongside exploration, improved recovery techniques and the development of profitable finds are seen as essential to slowing that trend.
The government has pledged to keep annual licensing rounds at the centre of its strategy. The Awards in Predefined Areas (APA) rounds, which cover most opened and available acreage, remain the backbone of policy. Numbered rounds, such as the 26th, apply to areas outside the APA zone.
“The Labour Party Government has a long-term perspective on the further development of our continental shelf. Europe will need oil and gas for a long time to come. Our goal is to ensure that we can supply oil and gas produced with low emissions for as long as there is a demand. Annual licensing rounds going forward are important to achieve this,” Aasland added.
As part of the 26th round, the Norwegian Offshore Directorate has been tasked with managing the nomination process, allowing licensees to propose areas for inclusion. Their input, combined with the Directorate’s own subsurface assessments, will guide recommendations to the Ministry on which acreage should ultimately be made available.
ConocoPhillips Skandinavia AS (ConocoPhillips) has awarded Halliburton a significant five-year contract to provide a full range of well stimulation services aimed at boosting well performance and enhancing reservoir productivity. The agreement also includes three optional extension periods, potentially extending the collaboration well beyond the initial term.
As part of the contract, Tidewater’s vessel, North Pomor, will undergo a major transformation into a state-of-the-art stimulation vessel, purpose-built to deliver efficient and effective offshore well stimulation operations in the challenging conditions of the North Sea. The vessel upgrades will feature advanced technology, including Halliburton’s proprietary Octiv digital fracturing services, which are designed to optimise stimulation equipment performance, streamline operations, and improve overall efficiency.
The project represents a key step in Halliburton’s strategy to offer integrated, technology-driven solutions for complex offshore developments. By combining vessel capabilities with cutting-edge digital tools, Halliburton aims to deliver consistent, high-quality stimulation treatments that help operators unlock additional value from existing reservoirs while supporting safe and efficient offshore operations.
According to the company, this latest contract award underscores Halliburton’s market leadership in stimulation services and its ability to tailor solutions to the specific needs of offshore environments. For ConocoPhillips, the partnership is expected to play an important role in maintaining and enhancing production levels in the North Sea, a region where operational efficiency and innovation are essential to long-term energy output.
Mark Dawson, senior vice president, Halliburton Completion and Production division, said, "We are pleased to strengthen our longstanding relationship with ConocoPhillips through this important award. This contract win complements our extensive experience in well stimulation and highlights how we execute globally. The combination of our latest technology and our focus on automation and safety is how we maximise value for our customers."
Well-Safe Solutions has secured a significant multi-year contract with EnQuest.
The scope, expected to generate over US$45 million in revenue, will be carried out using the Well-Safe Defender and involves a minimum of 100 days of operations in 2026 and at least 130 days in 2027. The contract also includes options for additional work between 2028 and 2034, establishing a long-term strategic partnership and securing key supply chain resources in the North Sea well into the next decade.
This contract marks a major milestone for Well-Safe Solutions, reinforcing its position as a leading player in the UK decommissioning sector. It also reflects the company’s strategic shift in the first half of 2025 to offer full well lifecycle services in response to rising demand for integrated, multi-phase campaigns.
Phil Milton, Chief Executive Officer at Well-Safe Solutions, said, “This contract is a testament to the trust our clients place in us and the consistent performance of our teams. It marks a pivotal moment in our journey and sets the tone for the next phase of our growth.”
Despite the challenges facing the sector in 2025, this award represents a significant turning point. The industry is preparing for an anticipated rise in demand from 2026 onwards, at a time when the availability of mobile offshore drilling units (MODUs) has sharply decreased. With only seven semi-submersibles currently in or near the region—many either committed long-term or stacked—market capacity remains tight.
Chris Hay, Chief Commercial Officer at Well-Safe Solutions, added, “This contract award reflects not only Well-Safe’s technical capabilities but also its ability to respond to market needs with agility. We’re proud to support EnQuest in this critical campaign and look forward to delivering a safe and efficient operation.”
The contract award follows successful decommissioning campaigns completed with several other UKCS clients using the Well-Safe Defender and Well-Safe Protector, highlighting Well-Safe’s reputation for operational excellence. Since its mobilisation in April 2023, the Well-Safe Defender has consistently delivered top-quartile performance, with rig uptime exceeding 98%, thanks to the dedication and collaboration of both offshore and onshore teams.
Steve Bowyer, EnQuest’s North Sea Managing Director, commented on the contract, “EnQuest is delighted to have chosen Well-Safe Solutions to support the next phase of our Group decommissioning plans. Having completed the plugging and abandonment of more than 35% of all wells decommissioned across the northern and central North Sea over the past three years, EnQuest is proud to be one of the most prolific decommissioning operators in the North Sea, employing innovative technologies and operating techniques to deliver top-quartile decommissioning performance. Accordingly, we look forward to executing the upcoming activity in a safe and efficient manner, alongside the Well-Safe team.”
Expro has reported robust financial results for Q2 2025, supported by strong operational execution and new technology deployments across key offshore markets, including the North Sea.
The company posted US$423mn in revenue—exceeding its guidance—and delivered an adjusted EBITDA margin of 22%, marking its third consecutive record quarter. Free cash flow reached US$27mn, with adjusted free cash flow at $36 million.
CEO Michael Jardon credited the company’s consistent growth to strategic investment, cost discipline, and global execution, “Our new business wins are a testament to the trust our customers place in Expro and highlight our commitment to safety, service quality, and the delivery of cost-effective, technology-driven solutions throughout the well lifecycle.”
In the UK North Sea, Expro extended a three-year contract worth approximately US$30 million for well intervention, well services, and well testing—continuing a long-standing collaboration with a major operator. The company also achieved an industry first by deploying its Remote Clamp Installation System (RCIS) in the region—successfully running a fully hands-free upper completion, reducing installation time by 50% per clamp. The RCIS, developed with a super major, is already securing follow-on deployments.
These developments are part of a broader international push. In Q2 alone, Expro secured major contracts in Guyana, Mexico, Brazil, Angola, MENA, and Asia Pacific, reinforcing its diverse global footprint and offshore capabilities.
Read the complete story on Expro's official website here
Global energy technology company SLB has been awarded a technologies and services contract for carbon storage site development in the North Sea by the Northern Endurance Partnership (NEP), an incorporated joint venture between bp, Equinor and TotalEnergies
NEP is developing onshore and offshore infrastructure needed to transport CO2 from carbon capture projects across Teesside and the Humber — collectively known as the East Coast Cluster — to secure storage under the North Sea.
SLB will deploy its Sequestri carbon storage solutions portfolio — which includes technologies specifically engineered and qualified for the development of carbon storage sites — to construct six carbon storage wells. The project scope includes drilling, measurement, cementing, fluids, completions, wireline and pumping services.
“Technologies and services tailored for carbon storage will play a critical role in shifting the economics and safeguarding the integrity of carbon storage projects before and after the FID,” said Katherine Rojas, senior vice-president of industrial decarbonisation, SLB. “We are excited to be a part of this groundbreaking CCS project in the UK, leveraging the proven carbon storage technologies in our Sequestri portfolio and our extensive expertise delivering complex CCS projects around the world.”
The NEP infrastructure is crucial to achieving net zero in the UK’s most carbon intensive industrial regions. NEP, via the Endurance saline aquifer and adjacent stores, has access to up to 1 billion metric tons of CO2 storage capacity. The infrastructure will transport and permanently store up to an initial 4 million metric tons of CO2 per year with start-up expected in 2028.
Saipem and Subsea7 have entered into a binding merger agreement to create a global leader in energy services, reaffirming the terms outlined in their February 2025 Memorandum of Understanding.
Both companies provide well upgrades and other services.
The new combined entity, to be called Saipem7, will be headquartered in Milan and listed on both the Milan and Oslo stock exchanges.
With an estimated annual revenue of €21bn, EBITDA exceeding €2bn, and a combined project backlog of €43bn, Saipem7 aims to position itself as a dominant force in offshore energy projects.
The merger brings together two highly complementary businesses, combining their geographic footprints, technologies, fleets and client portfolios.
No single entity will represent more than 15% of the overall backlog, underscoring the diversified nature of the business.
On completion, expected in the second half of 2026, shareholders of Saipem and Subsea7 will each own 50% of the new entity.
Subsea7 shareholders will receive 6.688 new Saipem shares per share held and a €450mn extraordinary dividend prior to closing.
Leadership will reflect a balanced governance structure: Mr Kristian Siem is expected to chair the board, while Mr Alessandro Puliti is set to become CEO. The Offshore Engineering & Construction business will be managed under a separate company, Subsea7 – a Saipem7 company – with Puliti and Subsea7’s John Evans leading as Chairman and CEO respectively.
The deal is backed by major stakeholders Eni, CDP Equity and Siem Industries, who have signed a shareholders’ agreement and committed to vote in favour.
The merger is expected to deliver €300mn in annual synergies, with added benefits to clients through enhanced project scheduling, expanded fleet capabilities, and integrated life-of-field services across oil, gas, and carbon capture.
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