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.
Oceaneering International, Inc. has announced that its Offshore Projects Group (OPG) has received a contract from bp Exploration (Caspian Sea) Ltd. to provide riserless light well intervention (RLWI) services at the Azeri-Chirag-Deepwater Gunashli (ACG) oilfield in the Caspian Sea
As part of the agreement, Oceaneering will deliver RLWI services for a multi-well mechanical wireline intervention campaign using one of its deepwater systems, which will be integrated onto a subsea construction vessel provided by the client. The project scope also includes management, engineering, and systems integration services to be carried out by both local and international Oceaneering teams.
Engineering and pre-mobilisation activities are already underway, with field operations expected to begin in the fourth quarter of 2025.
Chris Dyer, Senior Vice President of OPG, said, “Oceaneering has successfully provided RLWI solutions to help restore and improve production from existing wells in other deepwater regions of the world. We appreciate bp’s continued trust in our ability to safely provide reliable and cost-effective deepwater intervention solutions, particularly in support of the critical production in the Deepwater Gunashli area of the ACG field.”
Halliburton has introduced the StreamStar wired drill pipe interface system, a pioneering solution that provides real-time, high-speed data and continuous downhole power.
Designed to improve orchestrated closed-loop automation, the system enables faster and more accurate decision-making.
By reducing reliance on downhole generators and lithium batteries, StreamStar allows a compact bottomhole assembly that positions sensors closer to the bit for enhanced measurement reliability.
It also enables instant, two-way communication between the logging-while-drilling system and rotary steerable system, cutting well construction time.
The StreamStar system is part of Halliburton’s iStar intelligent drilling and logging platform, integrating seamlessly with the LOGIX automation and remote operations suite.
This combination allows instant execution of commands, closed-loop control, and real-time optimisation of drilling operations.
As the industry moves toward smarter, automated drilling, StreamStar delivers enhanced precision, operational efficiency, and confidence at every stage of well construction.
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 Bacalhau field in Brazil has seen start-up of production as its operator, Equinor, along with partners ExxonMobil Brasil, Petrogal Brasil (JV Galp|Sinopec) and Pré-sal Petróleo SA (PPSA), achieved exceptional engineering feat.
“Around 70 million hours of work have been recorded in the project with solid safety results. I would like to sincerely thank our partners, suppliers, and employees for making this achievement a reality. With its size, water depth and lower carbon intensity, Bacalhau is a testament to our engineering capabilities and ability to operate internationally,” said Geir Tungesvik, Executive Vice President, Projects, Drilling and Procurement.
With recoverable reserves surpassing 1 billion barrels of oil equivalent (boe), Bacalhau is the largest international offshore field ever developed by Equinor.
"The safe start-up of Bacalhau marks a major milestone for Equinor. Bacalhau represents a new generation of projects that bring together scale, cost-efficiency and lower carbon intensity. With this development, we are strengthening the longevity of our oil and gas production and securing value creation for decades to come,” says Anders Opedal, President and CEO of Equinor.
Bacalhau is located in the pre-salt region of Brazil's Santos Basin in ultra-deep water exceeding 2,000 metres. The field features one of the most modern floating production storage and offloading vessels (FPSO) in the world, measuring 370 metres in length and 64 metres in width, with a production capacity of 220,000 barrels of oil per day (bpd).
About 19 wells, producers and injectors are set to be brought online in sequence as part of the Phase 1 development of the project ahead of ramp up and production sustenance work.
The Bacalhau FPSO is equipped with advanced carbon-reduction technology in the form of combined-cycle gas turbines (CCGT). With an expected CO₂ intensity of around 9 kg per boe, and advanced abatement across flaring, processing, power generation, and storage, the field sets a new benchmark for cost efficient and lower emission deepwater production.
“Brazil is a core area for us and Bacalhau will be a major contributorto Equinor’s goal of generating more than 5 billion dollars of free cashflow by 2030 from our international portfolio. Bacalhau will also deliver positive ripple effects and long-term benefits to Brazil´s economy, creating approximately 50,000 jobs over its 30-year lifetime,” said Philippe Mathieu, Executive Vice President for Exploration and Production International.
MODEC, the FPSO contractor, will operate the unit for the initial phase. Thereafter, Equinor plans to operate the Bacalhau facilities until end of the license period.
Dubai-based offshore vessel operator Astro Offshore, part of the Adani Group, has reached a major milestone by adding its 50th vessel to the fleet.
The company has welcomed the Astro Achernar, an advanced 88-metre DP2 diesel-electric multipurpose support vessel (MPSV), designed to enhance its offshore support and subsea operations.
The newly acquired Astro Achernar comes equipped with accommodation for 222 personnel and a 100-tonne active heave-compensated (AHC) crane, boosting the firm’s capabilities across complex offshore projects.
“This milestone represents more than just a number, it’s a reflection of the trust our clients place in us and the dedication of our team across every level of the organisation,” said Mark Humphreys, CEO of Astro Offshore. “With the addition of Astro Achernar, we continue to strengthen our fleet, expand our capabilities, and position Astro as a trusted partner in delivering safe, efficient, and versatile offshore support.”
The expansion reflects a period of exceptional growth for Astro Offshore, which has doubled its fleet from 25 to 50 vessels in just 12 months. Over the past six weeks alone, the company has added seven new vessels, with the Astro Achernar marking the eighth in this rapid phase of development.
This strategic growth highlights Astro Offshore’s commitment to delivering high-performance solutions and maintaining its reputation as one of the region’s most reliable offshore support providers. With a focus on safety, innovation, and operational excellence, the company continues to strengthen its position in the global offshore market.
As part of Trion project's subsea infrastructure development, Woodside Energy has employed Tenaris for casing and tubing services, alongside line pipe and coatings for bends, flowlines and risers.
Located in the Perdido Fold Belt, approximately 180 kilometers off the Mexican coastline, Trion is a highly anticipated deepwater project from Mexico that is set to generate first oil in 2028, with a nameplate production capacity of 100,000 barrels per day. A greenfield project at a water depth of 2,500 meters, Trion is being developed by Woodside-affiliate, Woodside Petroleo Operaciones de México, S. de R.L. de C.V. (Operator, 60%) and Pemex (40%).
Following its Rig Direct service model, Tenaris will supply 12,000 tons of casing and tubing, including 1,600 tons in the Super 13 Chrome steel grade. For the line pipe portion, the company will deliver approximately 16,000 tons of pipe for flowlines and risers, including the application of TenarisShawcor Marine 5-Layer Syntactic and Solid Polypropylene for flow assurance, and TenarisShawcor Fusion Bonded Epoxy, Three-Layer Polypropylene, and Liquid Epoxy coatings for corrosion protection. Line pipe and coatings will be supplied along with One Line project solutions.
“Trion represents a historic milestone for Mexico’s energy future, and we are proud to be part of it,” said Pablo Gómez, Tenaris Commercial Vice-President in Mexico. “This project underscores the strength of our customer partnerships and our ability to deliver advanced technological solutions for the most demanding offshore environments.”
Halliburton has entered into a framework agreement with Shell to deliver umbilical-less tubing hanger installation and retrieval services using its Remote Operated Controls Systems (ROCS) technology
The agreement follows a successful three-well technology phase in the Gulf of Mexico, which demonstrated ROCS's effectiveness in deepwater conditions.
The collaboration marks a significant advancement in deepwater operations. With its speed, precision, and safety benefits, ROCS offers operators a reliable and cost-effective alternative to traditional methods, paving the way for its broader adoption across global rig fleets.
Josh Sears, senior vice president of Halliburton’s Drilling and Evaluation division, explained that ROCS is a compact, umbilical-less control system that replaces conventional hydraulic setups, helping to reduce surface pressure risks and limit personnel exposure. Already deployed in the Norwegian Continental Shelf, West Africa, and the Gulf of Mexico, ROCS recently achieved a milestone with the installation of a tubing hanger at 8,458 ft, setting the record for the deepest umbilical-less operation to date.
Developed by Optime, a Halliburton service, ROCS technology enhances operational efficiency by enabling faster running-in and pulling-out-of-hole procedures compared to conventional systems. It improves downhole line tests and reduces deck operations by up to 75%, ensuring higher safety and productivity during installation.
With its proven performance and measurable results, ROCS is redefining well-completion standards in deepwater environments. As operators increasingly seek smarter and safer ways to complete wells in challenging conditions, ROCS stands out as a proven solution that meets the demands of modern deepwater operations.
Malaysian offshore services provider Vantris Energy, formerly known as Sapura Energy, has signed a significant long-term agreement with Saudi Aramco to support its offshore operations.
According to a recent Bursa Malaysia filing, the agreement covers the provision of diving support vessels, remotely operated vehicles (ROVs), and the deployment of highly skilled diving and technical personnel. These resources will assist Aramco in a range of offshore activities, ensuring safe and efficient operations.
The contract is set to commence on 1 May 2027 and will continue until 30 April 2034. It includes services such as inspection, survey, photography, non-destructive testing, structural maintenance, and repair work. While financial terms were not disclosed, the deal is expected to make a positive contribution to Vantris Energy’s earnings and further strengthen its order book.
“This achievement validates our strategic direction to strengthen our operations and maintenance portfolio while expanding beyond Malaysian waters,” said Muhammad Zamri Jusoh CEO of Vantris Energy.
This agreement marks another step in Vantris Energy’s strategy to grow its presence in the global offshore services market.
Helix Energy Solutions Group has reported a strong turnaround in its financial performance for the third quarter of 2025, posting a net income of US$22.1mn.
This marks a significant improvement from the US$2.6mn loss in the previous quarter, though slightly below the US$29.5mn recorded in the same period of 2024.
The company’s Adjusted EBITDA climbed to US$103.7mn, more than double the US$42.4mn achieved in Q2 2025, and higher than the US$87.6mn posted in Q3 2024. Third-quarter revenues also strengthened, reaching US$376.9mn, compared with US$302.3mn in the preceding quarter and US$342.4mn a year earlier.
For the first nine months of 2025, Helix reported net income of US$22.6mn on US$957.3mn in revenue, slightly lower than the US$35.5mn profit on US$1.003bn earned in the same period last year.
Owen Kratz, President and CEO of Helix, said the company’s latest results represent its highest quarterly EBITDA since 2014, demonstrating the business’s growth potential. “The strong Q3 results provide insight into the business’s earnings potential,” he said, noting the achievement came despite downtime on the Q4000 and the Seawell rigs being stacked.
Following the improved performance, Helix has revised its full-year 2025 Adjusted EBITDA guidance upwards to between US$240mn and US$270mn, and now expects free cash flow generation of US$100mn to US$140mn.
Operationally, the company saw robust results across several divisions. The robotics segment benefited from increased trenching and renewable energy operations, while the shallow water division recorded higher levels of activity.
Helix also secured key commercial contracts, including a four-year robotics trenching agreement in the North Sea and a Well Intervention contract in the Gulf of America.
Revenues in the Well Intervention segment grew 23 per cent sequentially, driven by higher utilisation of the Q5000 and Q7000 rigs, while robotics revenues increased 16 per cent thanks to stronger trenching demand. The shallow water abandonment division saw the sharpest rise up 47 per cent due to higher utilisation of the Epic Hedron vessel and improved asset activity.
As part of Phase 1 development, four wells in the Shenandoah field have been ramped up by Beacon Offshore Energy to attain the target rate of 100,000 bopd / 117,000 boepd.
The Shenandoah floating production system (FPS) has proved its top tier operability as it delivered exceptional well productivity, reliability and uptime metrics, while accomplishing the ramp up target within 75 days following first production.
The Shenandoah reserves, located at reservoir depths of approximately 30,000 ft true vertical depth, are being developed utilising industry leading high pressure 20,000 psi technology which Beacon expects to facilitate development of other similarly situated fields in the Inboard Wilcox trend.
The Shenandoah FPS located on Walker Ridge 52 approximately 150 miles off the coast of Louisiana in a water depth of approximately 5,800 feet has a nameplate capacity of 120,000 bopd and 140 mmcfd. The Shenandoah FPS has been designed as a regional host facility that will enable development of additional resources including the Beacon-operated Monument and Shenandoah South discoveries which together with Shenandoah are expected to hold recoverable resources of nearly 600 MMBOE. Beacon is working alongside HEQ Deepwater and Navitas Petroleum to develop the Shenandoah project.
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