Perenco Congo has completed drilling campaign on the Tchibouela East field offshore Republic of Congo.
The results of the five infill well campaign, which concluded at the end of 2025, now show a sustained material uplift in production, providing an additional 6,000 barrels of oil per day (bopd).
The drilling campaign entailed advanced offshore drilling techniques, including horizontal and u-shaped wells, which resulted in higher oil recovery, while reducing operational risks.
Following the positive results from the Tchibouela East campaign, Perenco Congo has now started a new five well drilling campaign on the Masseko field, designed to increase producIon from the field as well as testing a new geological horizon.
“We have seen a sustained uplift in production following the recent five well infill campaign on the Tchibouela East field. This positive result clearly demonstrates our ability to extend field life and maximise the value of acreage for the benefit of all stakeholders. Tchibouela East has been in production for almost thirty years and we are pleased to help ensure that the field can produce for many more years to come. The operational tempo continues and we are now drilling on the Masseko field, where initial results from first production are encouraging,” said Gregoire de Courcelles, managing director of Perenco Congo.
US oil services giant Halliburton remains upbeat about prospects in its local market for drilling, interventions and associated work despite North American revenues dipping slightly.
The company’s North American revenues for the first quarter of 2026 hit US$2.1bn, a 4% decrease when compared to the first quarter of 2025.
In its Q1 statement, it reported that this decline was primarily driven by lower stimulation activity and decreased fluid services in the Gulf of America.
It also cited lower stimulation activity and decreased artificial lift activity in the US Land segments.
Partially offsetting the decreases in the domestic market were increased drilling-related services in US Land and higher completion tool sales in the region.
“In North America, I see clear signs that we are in the early innings of a recovery,” said Jeff Miller, Halliburton’s chairman, president and CEO.
The group’s performance in international markets also held up well, outpacing disruptions from the Middle East conflict, he added.
Much of the focus in the Q1 statement was on new technology highlights.
Most recently, Halliburton launched its Volta all-electric control system, part of SmartWell intelligent completions, which it claims sets a new standard for engineered reservoir management, optimisation, and insight.
It uses field‑proven technologies and an open communication network to allow customers to execute continuous health and reservoir monitoring and gain critical insights to improve well performance.
The objective is to increase annual well output and avoid deferred production through reduced recovery time from planned or unplanned shut-ins.
Strict regulations by the United States administration are driving North America's market share in end-of-life services, which leads globally, followed closely by Europe.
Regulatory push besides, environmental accountability and unavoidable age-old infrastructure liabilities are making operators to sit up and notice. They are equally prioritising funding and execution of removal plans to meet rising public as well as investor scrutiny of idle offshore assets. Regulatory bodies like OSPAR have upped surveillance and issued tighter deadlines for platform removal and seabed clearance.
Dedicated divisions for asset retirement and long-term decommissioning are taking up visible space in the annual work plans of oil majors.
The rapidly growing sector is now dynamically placed, involving big players in oilfield services innovations such as Halliburton, SLB, Baker Hughes. TechnipFMC and Aker Solutions, to name a few. Cutting edge offerings from them, including advanced cutting tools, cold-cutting technology for underwater structures, remotely operated vehicles (ROVs), and single-lift vessel technologies, among others, are supporting operators to deliver decommissioning liabilities in a safe, cost-effective and sustainable manner.
These companies are also known for their specialised services, with Halliburton, SLB and Baker Hughes leading in well plugging and abandonment, while TechnipFMC and Aker Solutions specialising in full-field decommissioning projects. Saipem and Petrofac, on the other hand, bring heavy-lift and project management expertise to complex removals.
These tools are helping operators tackle challenging deepwater situations in North America, which is predominantly attracting decommissioning developments.
Australia’s Centre of Decommissioning Australia (CODA) has launched its first online training module, aimed at expanding access to foundational decommissioning knowledge across the industry.
The new training module, Introduction to Well Decommissioning, is part of the organisation’s efforts to support the growth of the sector in Australia, according to CODA CEO Francis Norman.
Developed in response to strong demand for CODA’s in-person training, the self-paced module provides a flexible learning option for those unable to attend the in-person Introduction to Decommissioning course, as well as individuals and organisations looking to build capability across their teams.
“The launch of our first online module is an important step in how we support the development of the decommissioning industry,” said Norman.
“We know not everyone can attend training in person, so the CODA Academy allows us to expand how we support capability development across the industry, while continuing to deliver our in-person courses.”
The module explores the well lifecycle, with a focus on plugging and abandonment, covering key steps, regulatory frameworks and planning considerations that support safe, responsible and cost-effective outcomes.
“By combining in-person training with flexible online learning, we are creating more pathways for industry to build capability, particularly as the scale and complexity of decommissioning activity continues to grow,” said Norman.
“Building online content also allows for just-in-time and very focused learning across the industry”
Course content was developed in collaboration with Chris Wilson of Labrador, a subject matter expert who also delivers the same material as part of CODA’s in-person course.
The launch of the online module also marks the introduction of the CODA Academy, which brings together CODA’s in-person training and online learning offerings.
While in-person courses will continue to run, the Academy expands how participants can engage with decommissioning training delivered by CODA.
The learning experience was developed in partnership with Perth-based organisations Sentient Computing, which delivered the eLearning platform, and Of Note Designs, which designed and developed the web environment.
Additional online modules will be released over time, forming a broader learning pathway across the decommissioning lifecycle and complementing CODA’s existing training.
Following five years of abandonment, Perenco UK has managed to revive the Davy gas field in the Southern North Sea, which is now generating production.
This is no mean feat, given the field was shut in for so many years, and finally earmarked for decommissioning following several failed attempts to restart it.
Now the company has completed a comprehensive revival project with production from Davy wells A3 and A5 restarting in late April 2026. Both the platforms are now stably generating a combined yield of approximately 14 MMscf/d into Perenco’s Bacton terminal.
The primary consideration that drove the comprehensive work programme to prolong field life was safety. The company significantly simplified the original 1970s' design, and included material equipment upgrades, along with the installation of a wind turbine.
In addition, partial decommissioning of nonproductive wells has been achieved with the plugging and abandonment (P&A) of 2 platform wells and 2 subsea wells. The simplified Davy platform is now powered predominantly by wind energy rather than diesel generation, so the operation is now continuing with a lower carbon footprint.
Jo White, UK SNS General Manager said, “The restart of the Davy gas field after five years offline is an excellent result and showcases how assets consigned for decommissioning can be revived and continue to make a meaningful contribution to the UK’s energy mix. Davy is set to continue to produce for several years to come, and to operate reliably and with lower OPEX following the recent work programme. This is another successful collaboration between the highly-skilled Perenco and Petrodec operational and project teams, and I would like to congratulate all those involved in realising this important project.”
The ongoing US-Iran war and resulting disruptions in the Strait of Hormuz have triggered a pragmatic shift in European Union energy policy, forcing a temporary rethink of its green transition priorities in favour of immediate energy security.
Since the escalation of conflict in February 2026, which disrupted LNG flows from Qatar and pushed up global oil and gas prices, the EU has faced its second major energy crisis in four years.
According to some reports, additional costs for energy imports have already exceeded €24bn, prompting swift policy adjustments.
In April, the European Commission unveiled the AccelerateEU plan, proposing cuts to electricity taxes, coordinated summer gas storage refills, and incentives to accelerate clean energy deployment while shielding households and industry from price shocks.
The measures aim to make electricity cheaper than fossil fuels and support faster rollout of renewables and efficiency improvements.
More significantly, EU energy ministers are now openly discussing boosting domestic natural gas production.
At a meeting chaired by Cyprus (which holds substantial offshore reserves) officials are exploring greater use of indigenous resources to reduce reliance on volatile imports.
This marks a notable departure from previous reluctance to expand fossil fuel output within the bloc.
The Commission has also drafted guidance allowing member states to suspend penalties for oil and gas companies breaching the EU’s methane emissions regulation during supply crises.
The move follows intense industry and US pressure, aiming to prevent potential disruptions to imports as stricter rules approach in 2027.
These shifts highlight the tension between Europe’s long-term climate goals and short-term security needs.
While accelerating homegrown clean energy remains a priority, the crisis has underscored vulnerabilities in global LNG markets and reinforced the role of reliable regional suppliers like Norway, which is expanding its offshore output.
Analysts warn that prolonged reliance on emergency measures could delay the energy transition, yet most agree the current geopolitical reality demands a balanced approach.
EU leaders continue to stress that domestic production increases should not lock the bloc into long-term carbon dependence.
Norway is intensifying its offshore petroleum activities to strengthen European energy security amid ongoing global supply uncertainties.
Energy Minister Terje Aasland has underscored the importance of expanding, rather than reducing, operations on the Norwegian continental shelf.
On 5 May 2026, the Norwegian authorities announced the APA 2026 licensing round, offering up to 70 new exploration blocks: 38 in the Barents Sea, 22 in the North Sea, and 10 in the Norwegian Sea.
Applications are invited until 1 September 2026, with awards scheduled for early 2027.
This move continues Norway’s strategy of sustaining long-term production and attracting investment from international oil companies.In a separate development, plans were confirmed to reopen three historic North Sea gas fields like Albuskjell, Vest Ekofisk, and Tommeliten Gamma, which have been closed since 1998.
Operator ConocoPhillips, together with partners, is set to invest approximately €1.8bn, with production potentially resuming by 2028.
The fields could deliver significant gas volumes to markets in Germany and the United Kingdom through to 2048.
Additionally, Equinor has recently started production from the Eirin field via a subsea tie-back to the Gina Krog and Sleipner installations, adding further gas supply to Europe.
These initiatives reflect Norway’s response to tightening global energy markets.
By maximising output from mature and frontier areas, the country aims to provide reliable supplies while balancing its energy transition commitments.
Industry observers note that heightened geopolitical tensions have reinforced the role of Norwegian gas in stabilising European energy prices.
The developments are expected to generate substantial economic activity and support thousands of jobs across the Norwegian supply chain.
The Block G acquisition offshore Equatorial Guinea leads Panoro Energy ASA’s dynamic operational and financial updates ahead of Q1 2026 results.
With the acquisition of an additional 40.375% in the Block that raises its total interests to 54.625%, the company is anticipating to attain group net production of 20,000 bopd during the course of 2027. This will enhance joint-venture role influencing future production growth, work programme and efficiency, while Panoro sees an increase in both frequency and size of crude oil liftings.
Meanwhile, Block G continues to see multiple productive and asset integrity projects for field life extension, and the partners are evaluating the potential for future infill drilling campaigns in the Okume Complex, using a conventional jack-up rig in shallow water, and subsea infill wells at the Ceiba field.
Julien Balkany, executive chairman of Panoro, said, “Q1 was a period of strong strategic and operational delivery for Panoro, highlighted by the announcement of a transformational, highly accretive acquisition of an additional 40.375% interest in Block G, just prior to the escalation of geopolitical events in the Middle East that has led to major disruption of regional trade flows and substantial increase in global oil prices. This opportune transaction further strengthens the scale and cash flow potential of Panoro, creating a materially larger, more resilient business in order to deliver enhanced shareholder returns. The acquisition received strong endorsement from the capital markets with the associated equity private placement and bond tap issuance both multiple times oversubscribed and closed within a matter of hours.
“Operationally, we delivered pro forma working interest production of 14,960 bopd, supported by stable performance across our core portfolio and we are on track to achieve 20,000 bopd during 2027.
“Looking ahead, our priorities remain unchanged: deliver our pipeline of high-impact organic growth opportunities, starting with the MaBoMo Phase 2 drilling campaign at our cornerstone Dussafu block offshore Gabon mid-year, maturing the Bourdon discovery towards FID and evaluating the new state-of-the-art seismic data we have recently acquired covering the Niosi, Guduma and Dussafu blocks which will allow us to confirm future drilling targets.
“In Equatorial Guinea, we have also received for the first time contingent resources recognition for Block EG-23 where we have high-graded the exciting Estrella discovery as a potential fast-track appraisal and development project that could be tied back to existing infrastructure as we position Panoro for the next phase of material production and free cash flow growth.”
With a shift of strategic focus towards deepwater operations, Helix Energy Solutions Group, Inc will be selling its Gulf of America-focused shallow water abandonment business to C-Dive, LLC, a member of the Chouest group of companies.
The sale involved Helix's divestment of its entire equity interests in the shallow water abandonment segment for US$107.5mn cash at closing, to be adjusted for working capital and other transaction expenses.
This comes after Helix entered a definitive agreement with Hornbeck Offshore Services, Inc to expand its services in offshore operations through a diversified high-specification fleet of specialty vessels, supported by subsea robotics, well intervention and technical service capabilities.
The sale of the shallow water abandonment business will allow Helix to heighten focus on the partnership with Hornbeck, providing innovative and integrated subsea and marine transportation solutions to customers across deepwater energy, defense and renewables.
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, said, “This transaction sharpens Helix’s focus on deepwater well intervention and decommissioning, robotics and other offshore services as part of our larger global strategy. We are pleased with our accomplishments since acquiring the shallow water abandonment business, as we achieved record financial performance, made improvements in processes and systems, and emphasised safety culture. We believe the Chouest Group will serve as a strategic owner well positioned to capitalise on this positive momentum and continue the long-term growth of that business.”
Centre of Decommissioning Australia (CODA) posted an updated on its website on 1 May, 2026 highlighting progress on the Harriet Alpha assets following their arrival at the Australian Marine Complex (AMC) in Henderson.
A site visit provided an opportunity for CODA officials to observe progress on the offshore removal and onshore dismantling phases of the project.Representatives from CODA, Santos, Liberty Industrial, McDermott and the Department of Energy and Economic Diversification were all present at the visit.
“Attendees were provided with a detailed walkthrough of the offshore removal and onshore dismantling workflow, including load-in operations and the transfer of large structural components from barge to self-propelled modular transporters (SPMTs) for positioning within the laydown area,” the CODA update noted.
Harriet Alpha, installed in 1985 and ceasing production in 2013, was a pioneering development in Western Australia’s offshore oil and gas industry and forms part of a broader decommissioning programme across the region.
Liberty Industrial was engaged by Santos to undertake a deconstruction and disposal study for the Harriet Alpha platform, with McDermott awarded the engineering, procurement, removal and disposal (EPRD) work in 2024.
In 2025, Liberty Industrial partnered with McDermott to deliver the safe demolition, recycling and disposal activities for the retired platform, including the helideck, topsides, jacket and associated equipment.
With major components including the jacket, topsides and the ‘Pancake 4’ section weighing approximately 1,480 tonnes, 1,440 tonnes and 185 tonnes respectively, the project has achieved multiple milestones, CODA noted, including being the largest offshore platform removed from Australian waters at the time.
CODA added that it “acknowledges and congratulates” all project teams involved in delivering the work.
“The Harriet Alpha decommissioning scope represents a significant example of the growing capability of the Australian offshore decommissioning sector,” it noted.
“It sets a new benchmark for scale and execution, and reflects the progression toward a growing number of large-scale decommissioning programmes across the industry.”
Adnoc Drilling has completed a deal to acquire an 80% stake in Oman’s MB Petroleum Services (MBPS), a drilling and oilfield services joint venture with MB Holding Company, with operations in Oman, Kuwait, Saudi Arabia and Bahrain.
The transaction, first announced in November 2025, was completed ahead of the original mid-year timeline, an Adnoc Drilling statement noted, reflecting disciplined execution and “alignment” between the partners.
MBPS was valued at around US$204mn and marks the latest acquisition by Adnoc Drilling as it widens its Gulf footprint.
The company also recently bought into SLB's onshore rig business in Oman and Kuwait.
“The completion of MBPS strengthens Adnoc Drilling’s long-term regional capability by adding established operating scale and deep field execution capability in the region,” said Abdulla Ateya Al Messabi, ADNOC Drilling CEO and MBPS Chairman.
“By combining the established operating presence of MBPS with our scale, systems and technology-led approach, we are building a durable platform for delivery across the GCC.”
He said the transaction reflects the company’s “disciplined, value-accretive growth strategy” and alluded to further expansion “as we continue to invest in people and long-term capability across this region.”
The integration of automation, AI, digital systems and data-driven workflows “will further strengthen safe and consistent delivery at scale,” he added.
Under the agreement, Adnoc Drilling, through its wholly owned subsidiary, holds an 80% stake in MBPS, with MB Holding Company, through its subsidiary, retaining a 20% stake. MBPS will continue to operate under the leadership of Dr. Salim Al Harthy, CEO of MBPS, ensuring continuity of management, execution and deep regional expertise.
Dr. Al Harthy said the acquisition marks a “transformational milestone” for MBPS.
“By combining our regional operational expertise with the strength and scale of Adnoc Drilling, we are creating a stronger platform to expand across the MENA region, enhance our capabilities, and deliver greater value to our customers.”
MBPS’ performance in the first quarter of 2026 “exceeded expectations”, according to an Adnoc Drilling statement, with strong outperformance on free cash flow (over 20%) and net income (over 40%).
In January 2026, MBPS secured contract awards for four additional rigs with deployment expected from the second half of 2026 into the first half of 2027, including three in Kuwait and one in Oman.
“These reinforce the platform’s growth trajectory and strengthening long-term activity visibility across core Gulf geographies,” the statement noted.
Equinor ASA has extended a series of major supplier agreements for drilling and well services, with a combined value of about NOK 17 billion.
The extensions are aimed at sustaining production on the Norwegian continental shelf, maintaining operational activity and supporting consistent energy supply to Europe.
The company has activated one-year extension options for three integrated drilling and well service contracts, alongside two-year extensions for 18 corporate framework agreements covering specialised services associated with these operations.
The integrated drilling and well services contracts are valued at NOK 8.3 billion, while the framework agreements for specialist services are expected to generate around NOK 4.3 billion annually over a two-year period.
Contracts for integrated drilling and well services have been awarded to Baker Hughes Norge AS, Halliburton AS and SLB Norge AS. These companies, along with an additional 15 suppliers, have also secured framework agreements for specialised services. The agreements are designed to ensure access to the expertise and advanced technologies required to improve efficiency in well operations and adapt to evolving operational demands.
“These agreements are among the largest we have, and they are crucial for activity on the Norwegian continental shelf. New wells enable us to maintain high production and deliver stable energy to Europe. This is particularly important at a time of turbulence in the energy markets,” says Jannicke Nilsson, chief procurement officer.
The contracts are expected to support around 2,500 jobs and will cover operations across both fixed installations and mobile drilling rigs on the Norwegian continental shelf.
As the region matures, drilling and well activities are becoming increasingly vital to sustaining output levels. Equinor aims to maintain production at approximately 1.2 million barrels of oil equivalent per day through to 2035.
“New wells are expected to account for around 70 percent of Equinor’s production in 2035. This involves both more wells and more well interventions, which must be delivered faster and significantly more cost-efficiently than today. That requires closer collaboration with the supplier industry and increased use of technology and standardisation,” says Rune Nedregaard, senior vice president for Wells.
“We are now moving to a greater extent towards industry standards. Together with our suppliers, we will use this to simplify work processes, reduce costs and increase pace, while maintaining safety,” Nedregaard continues.
Page 14 of 137
