Equinor has awarded a new set of long-term framework agreements to seven supplier companies, with a combined value of about NOK 100 billion, reinforcing the foundation for safe, efficient and competitive operations across its offshore installations and onshore plants.
In total, twelve framework agreements have been signed covering maintenance and modification services. These contracts will take effect in the first half of 2026 and run for five years, with options to extend by a further three and two years. Together, they represent an estimated annual value of around NOK 10 billion and are expected to generate long-term stability and significant knock-on benefits for the Norwegian supplier industry nationwide.
“The Norwegian continental shelf will remain the backbone for Equinor for a long time. Our ambition is to maintain a high production level and predictable energy deliveries to Europe towards 2035. At the same time, the shelf is entering a mature phase that will require new solutions. To succeed, we must, together with the supplier industry, find new ways of working that strengthen our competitiveness. These agreements facilitate long-term collaboration and continuous improvement on core tasks at Equinor’s offshore installations and onshore facilities in Norway,” said Kjetil Hove, executive vice president for the Norwegian continental shelf at Equinor.
“These are strategically important agreements, and collectively among the largest Equinor has awarded. The agreements will ensure long-term activity and value creation across Norway, with job creation estimated at around 4,000 man-years at the suppliers. The goal is close, long-term, and predictable cooperation that strengthens the culture for safety and security and our shared competitiveness. Together, we will work safer and smarter, and scale up the use of new technology,” added Jannicke Nilsson, chief procurement officer at Equinor.
The framework agreements support Equinor’s objective of sustaining production of around 1.2 million barrels of oil equivalent per day on the Norwegian continental shelf, broadly in line with 2020 levels, through to 2035. To achieve this, the company plans annual investments of approximately NOK 60–70 billion in increased recovery and new field developments. This includes drilling about 250 exploration wells and around 600 wells aimed at improving recovery, carrying out roughly 300 well interventions each year, and executing close to 2,500 modification projects.
Equinor also intends to mature and develop more than 75 subsea projects that can be tied back to existing infrastructure, while continuing efforts to cut its own greenhouse gas emissions by nearly 50% by 2030 compared with 2015 levels. Alongside maintaining stable and reliable energy supplies to Europe, the company will invest heavily in maintenance and upgrades to enhance safety, ensure high operational regularity, and reduce climate and environmental impacts.
The agreements span seven suppliers in total, including three companies that are new entrants to Equinor’s maintenance and modification portfolio.
Petrobras has begun oil production from the P-78 floating production, storage and offloading (FPSO) vessel in the Búzios field, in the pre-salt layer of the Santos Basin.
Búzios 6 (P-78) has the capacity to produce 180,000 barrels of oil and 7.2 million cubic metres of gas per day. The FPSO will increase the field's installed production capacity to approximately 1.15 million barrels of oil per day. The project will also allow for the export of gas to the mainland via interconnection with the ROTA 3 gas pipeline , expanding Brazil's gas supply by up to 3mn cubic metres per day .
"With the first oil from the P-78 platform, we are starting the year already advancing towards our main goal for 2026: increasing Petrobras' oil and gas production. We project producing 2.5 million barrels of oil per day throughout this year, and a large part of that will come from Búzios, the country's largest field in terms of reserves and production. In addition, we are also expanding the supply of natural gas to the Brazilian market, another goal expressed in our Business Plan," said Magda Chambriard, president of Petrobras.
The P-78 is an FPSO (Floating Production, Storage and Offloading) unit and inaugurates a new family of proprietary unit projects, bringing even greater safety and reliability to operations. The platform is equipped with technologies for reducing emissions and increasing operational efficiency, notably the exhaust gas recovery system, the adoption of variable speed drives in pumps and compressors, and energy integrations between hot and cold streams in oil and gas processing.
The project comprises 13 wells, 6 producers and 7 injectors, equipped with intelligent completion systems that enhance production management. The unit will be interconnected with rigid pipelines for production, injection and gas export, and flexible pipelines for service lines, using innovative technologies for attaching the pipelines to the FPSO. These pipelines will allow for the high-capacity production planned for the field's wells.
The platform is the seventh in operation in the Búzios field, the largest in the country in terms of reserves. Located 180 km off the coast of the state of Rio de Janeiro, in ultra-deep waters of the Santos Basin, at a depth of more than 2,000 meters, it surpassed 1mn bpd production in October 2025.
Subsea decommissioning specialist Decom Engineering has provided an update on its work offshore Australia.
In a social media post titled “Live from the Seabed: TRACS-16 Performance in Australia” the company reveals action footage of its TRACS-16 tool performing live cutting operations on the seabed.
TRACS-16 (Twin Recovery & Cutting System) is the firm’s innovative modular tool that combines cutting, lifting and recovery, designed to cut and recover pipelines up to 20m long with diameters up to 16”, although custom sizes can also be engineered.
It is ideal for decommissioning operations, with the crane-deployable tool capable of recovering sections and returning them to the deck or relocating to a subsea basket.
In a video posted on LinkedIn, the company shows TRACS-16 at work, cutting away at an unspecified subsea decommissioning site offshore Australia.
“We are getting January off to a super start with some live offshore footage from our project in Australia,” the company stated in the post.
“Here is the TRACS-16 tool performing live cuts on the seabed. We are seriously happy with the performance of this new tool in our toolbox, delivering impressive results across the campaign.”
These results include its speed, with cycle times of as little as nine minutes, with individual cuts averaging as fast as four minutes and 30 seconds “with some ever faster,” it added.
It also cited the machinery’s durability, achieving 38 cuts per blade, “demonstrating the reliability of our proprietary cutting technology.”
The post added: “This level of efficiency is exactly how we help operators minimise vessel time and keep complex decommissioning projects on track.”
The TRAC 16’s quick connect system allows for seamless attachment and detachment of the C1-16 Chopsaw, which comes with a 1,040mm blade capable of making precise cuts through pipes up to 16″ in diameter.
It also includes ROV (remotely-operated vehicle) grab bars at both ends and near the hotstab panel, ensuring easy positioning and stabilisation by the ROV.
The system is operable via ROV or topside control package.
Italian engineering and energy services giant Saipem has confirmed plans to restart operations on its Perro Negro 7 jackup rig in Saudi Arabia, marking a positive signal for the recovery of offshore drilling activity in the Middle East.
The rig is scheduled to resume work in January 2026 after a temporary suspension.
Originally built in 2008, the Perro Negro 7 operates under a long-term contract awarded by Saudi Aramco in 2011. This agreement was extended in June 2023 for an additional 10 years, underlining Aramco’s continued confidence in Saipem’s offshore capabilities. Operations were paused for a 12-month period in 2024, but Saipem confirmed that the suspension will be fully recovered at the end of the contract, extending its duration until 2034.
Designed for challenging offshore environments, the jackup rig is capable of operating in water depths of up to 115 metres and drilling wells reaching 9,100 metres. It is equipped with advanced technologies that enhance operational efficiency, workplace safety and environmental compliance, aligning with increasingly stringent industry standards.
Saipem views the restart of Perro Negro 7 as a clear indication of renewed momentum in Middle East offshore drilling, a region the company continues to prioritise as a strategic growth market. The move reflects broader industry trends pointing to rising upstream investment and sustained demand for high-specification offshore rigs across the Gulf.
With Saudi Arabia pushing ahead with energy development plans, Saipem’s resumed operations further reinforce its position as a key player in the region’s offshore oil and gas sector.
Halliburton has launched its first shankless matrix-body bit called the HyperSteer MX directional drill bit.
Improving durability and maximising directional control, the bit promises longer runs and fewer trips, resisting erosion and abrasion, and performing reliably in high-flow, abrasive environments.
"HyperSteer MX directional drill bits mark a major step forward in drilling. The technology combines the precise steerability of HyperSteer directional drill bits with a durable matrix body. It allows operators to drill longer in harsh environments and supports efforts to minimize well time and maximize directional performance for customers," said Amr Hassan, Vice President, Drill Bits and Services, Halliburton.
The tool utilises advanced matrix materials to resist erosion and abrasion, extend bit life in abrasive, high-flow environments, and improve efficiency and reliability during operations. It deliver precise steerability that boosts performance in vertical, curve, and lateral sections, and reduces well time as well as well construction costs. The bit reduces trips, lowers exposure to unplanned events, and maintains directional precision in the most abrasive environments.
HyperSteer MX directional drill bits adds to the HyperSteer portfolio, reflecting the oilfield services provider's engagement in innovative engineered solutions for asset value maximisation.
Aker Solutions has been awarded multiple five-year frame agreements with Equinor for maintenance and modification services in the Norwegian Continental Shelf and onshore Norway.
Installations will be formally assigned after the contracts have been signed. The intended scope of work involves maintenance and modification services for offshore assets including Johan Sverdrup, Troll, Kristin, Åsgard, Heidrun, Njord, Grane, Kvitebjørn and Valemon.
Additionally, Aker will provide its services for the Øygarden onshore plants.
Chief Executive Officer of Aker Solutions, Kjetel Digre, said, “Under the current frame agreement, we are boosting productivity, cutting costs and shortening project lead times by fundamentally changing how we work. This is the start of a larger transformation, as Aker Solutions intends to build on this progress and aims to take our collaboration with Equinor to the next level.
“We have set ambitious goals and are proud to offer the capabilities of a highly competent and experienced workforce with an adaptive mindset. This contract award is a strong testament to the quality and consistency of the services that our teams have delivered over many years.”
The five-year agreement provides Equinor with the flexibility to extend the contract for two periods of three and two years.
Gulfstream Services Inc. (GSI) and Oilfield Service Professionals (OSP) have announced a Global Strategic Technology Alliance in order to deliver next-gen automated cementing systems and integrated solutions for land and offshore operations across the world.
The alliance will combine OSP’s global service organisation, digital automation and field execution capabilities with GSI’s top-drive cement head systems to create a data-driven cementing platform.
The overall aim of the alliance is to advance safer, more efficient and more consistent cementing operations across the well lifecycle.
The core of the collaboration sits GSI’s RCH Top Drive Cement Head – a modular system with more than 3,500 runs worldwide, supporting casing sizes from 4-1/2” to 13-3/8” for demanding applications, both on land and offshore.
When this technology is paired with OSP’s automation and digital integration abilities, the system enables reduced red-zone exposure, improved operational consistency and enhanced execution visibility.
Jasen Gast, President and CEO of Oilfield Service Professionals, said, “This alliance represents a meaningful step forward in cementing operations. By combining our global service organisation and automation roadmap with GSI’s proven cementing systems, we are delivering a scalable, next-generation solution for operators worldwide.”
Chief Executive Officer of Gulfstream Services, Bobby Bond, commented, “By aligning Gulfstream’s field-proven cementing systems with OSP’s deployment and integration capabilities, we are expanding the reach and functionality of our technology to meet the evolving needs of global operations.”
One of the key players working on Australia’s flagship Northern Endeavour decommissioning programme has been taken over by a former American rival.
US-based CB&I has entered into an agreement to acquire Petrofac’s Asset Solutions business after the parent company filed for administration in late 2025 due to financial distress from cost overruns and contract issues.
Petrofac was awarded its Northern Endeavour contract by the Australian government in April 2022, heralding the start of an era of decommissioning in the nation’s offshore oil and gas sector.
Petrofac’s Australia team, based in Perth, were contracted to complete Phase 1 of the decommissioning of the FPSO (Floating Production, Storage and Offtake) facility.
It is unclear at this point how the project will be affected, if at all, after the CB&I acquisition goes through, with approximately 3,000 Petrofac employees expected to join the Texas company at the close of the transaction, anticipated to occur in the first quarter of 2026.
According to Mark Butts, CB&I’s President and CEO, the acquisition will strengthen the group’s overall portfolio and enhance service capabilities.
He said it also supports CB&I’s diversification into integrated services, expands customer relationships and opens pathways for growth in international markets.
“Asset Solutions’ leadership demonstrates pride in operational excellence, commitment to customers, and resilience through challenging circumstances,” said Butts.
“Our organisations share similar management philosophies and industry-leading safety performance. With this combination we see strong cultural alignment, diversification benefits, and clear opportunities to enhance performance and deliver stable cash flow generation. These factors collectively support CB&I’s long-term growth objectives.”
Following the close of the transaction, CB&I will operate as one company with two global business units, CB&I Asset Solutions based in Aberdeen, Scotland, and CB&I’s existing operations, CB&I Storage Solutions, based in The Woodlands, Texas.
With thousands of jobs saved, it is hoped there will be minimal disruption to the Northern Endeavour work.
“We are excited about this opportunity to focus on our core strengths, reaffirm critical customer relationships, stabilise our supply base and deliver operational excellence for our current and future projects,” said John Pearson, Petrofac Asset Solutions Chief Operating Officer.
“We have the operational and engineering talent required to deliver high-value growth opportunities and expand differentiated services. Our cultural compatibility with CB&I enhances our integration and supports a smooth transition.”
Norwegian offshore vessel owner and subsea services specialist DOF Group has strengthened its position in the Asia-Pacific (APAC) market after securing two significant offshore contracts for vessels and integrated subsea services.
The first agreement is a three-year frame contract covering subsea inspection, maintenance and repair (IMR) services across the APAC region. As part of this deal, DOF has already confirmed a call-off that will deploy the dive support vessel (DSV) Skandi Singapore. The campaign will focus on diver-less subsea operations for a brownfield tieback project, scheduled to take place in the first half of 2026.
In addition, DOF has been awarded a second contract linked to a hook-up campaign. This scope of work will be carried out by the multipurpose support vessel (MPSV) Skandi Hercules, with offshore activities also planned for the first half of 2026.
Together, the two contracts are valued at between US$25MN and US$50MN and will see DOF deliver its full range of in-house capabilities. These include project management, engineering, procurement and logistics support, reinforcing the company’s end-to-end offshore services offering.
The combined duration of the offshore campaigns is expected to span between 90 and 120 days, highlighting sustained demand for subsea expertise and offshore construction services in the APAC energy market.
Mons S. Aase, CEO of DOF, said,“We look forward to delivering safe, efficient, world class subsea and marine services, further enhancing our reputation as a trusted partner in the APAC region.” said .
The latest contract wins underline DOF’s growing momentum in offshore energy services and its strategic focus on long-term opportunities in the Asia-Pacific region.
Halliburton has introduced the HyperSteer MX directional drill bit, the industry’s first shankless, matrix-body directional bit designed to enhance durability while delivering superior directional control.
Engineered for demanding conditions, the bit enables longer drilling intervals with fewer trips, while withstanding erosion and abrasion in high-flow, abrasive environments.
The launch represents a significant advancement in drilling technology. By integrating the accurate steering capability associated with HyperSteer directional drill bits with the strength of a matrix body, the new design allows operators to drill for extended periods in harsh formations. This supports efforts to reduce overall well time while maintaining high levels of directional performance.
According to Amr Hassan, vice president, Drill Bits and Services at Halliburton, the HyperSteer MX directional drill bits leverage advanced matrix materials to combat erosion and abrasion, prolong bit life in abrasive, high-flow settings, and enhance operational efficiency and reliability.
The bit offers precise directional control across vertical, curve, and lateral sections, helping operators optimize drilling performance while reducing well construction time and costs. By enabling longer runs, the design cuts down on trips, lowers the risk of unplanned events, and preserves directional accuracy even in the most challenging environments.
HyperSteer MX directional drill bits further expand the HyperSteer portfolio and underscore Halliburton’s continued focus on developing engineered solutions that enhance asset value.
Saipem, a global engineering and construction leader, has been awarded two offshore contracts in Saudi Arabia worth a combined US$600mn under its existing Long-Term Agreement with Saudi Aramco.
The first contract, CRPO 162, spans 32 months and covers the engineering, procurement, construction, and installation (EPCI) of around 34 km of 20” and 30” pipelines, along with related works on topside structures at the Berri and Abu Safah oil fields.
The second contract, CRPO 165, runs for 12 months and includes subsea interventions at the Marjan field, as well as the EPC of 300 m of onshore pipeline and associated tie-ins. Saipem said it will deploy its construction vessels already operating in the region to execute the offshore work.
Fabrication for both projects will take place at Saipem’s Saudi facility, Saipem Taqa Al-Rushaid Fabricators Co. Ltd. in Dammam, a move designed to further develop local industry capabilities.
Saipem said the contract awards reinforce its position in Saudi Arabia and strengthen its long-term partnership with Aramco.
This latest project is part of Saipem’s broader strategy to expand its regional footprint, leveraging both local fabrication and offshore expertise to deliver complex oil and gas infrastructure efficiently.
As the year draws to a close, Esso Australia will remember 2025 as a year of several milestones achieved in terms of decommissioning.
Tackling Australia’s largest decommissioning project, the company has completed nearly US$3bn of initial works across offshore operations. This included the permanent sealing of more than 200 wells in Bass Strait, and processing over 10,000 tonnes of steel and concrete for recycling or disposal at Barry Beach Marine Terminal.
The company started out with abandonment activities in the Bream B platform, which was an unstaffed facility. As part of the first phase of a series of high-level decommissioning campaigns, the platform's topsides that formed concrete gravity structures, were removed. The Valaris 107 jack-up rig was deployed to commence plug and abandonment activities across 21 platform-based wells at Bream B. While these activities begun as early as 2024, this year saw the second stage of the plug and abandonment scope.
Other areas of work included end-of-life activities on open water exploration wells and comparatively older wells before moving on to Halibut, which is nearly 60-year old. This work followed extensive inspections on underwater platforms as well as on structural platform above water, including flare booms. Extra-solid steel piled jackets supporting the Halibut platform that needs removal will be around 70-m long, roughly implying the height of a 20-storey building on land.
Work on the Haliburt platform will be followed by decommissioning activities on Esso's first platform, Marlin One.
Other activities completed this year includes abandoning as many as 222 platforms while restoring the original caprocks.
Once Barry Beach work was opened to shareholders for feedback, the company had to rethink its approach and avoid expansion of the port at Barry Beach so as to ensure minimal impact on the Ramsar wetland and onshore environment. Barry Beach is now being equipped with hardstand to accomodate the structures when they arrive.
These activities form a part of solid groundwork by Esso Australia, which will prepare the company before the world’s largest construction vessel, the Allseas Pioneering Spirit, arrives, and will travel from the Netherlands to start removal of 12 retired offshore facilities in 2027.
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