MODEC has been awarded an Engineering, Procurement, Construction, and Installation (EPCI) contract to develop a Floating Production Storage and Offloading (FPSO) vessel for ExxonMobil Guyana's Hammerhead Project offshore Guyana, following Final Investment Decision (FID).
Phase One of the contract, covering Front-End Engineering and Design (FEED), has already been completed.
“We are honoured to be entrusted with the full EPCI scope for Hammerhead. This award reflects MODEC’s integrated capabilities to design, build and operate—from concept and FEED through to safe execution and timely delivery of the project,” said Soichi Ide, head of Floating Production Solutions Business Unit of MODEC. “MODEC’s strategic relationship with ExxonMobil Guyana positions us to work with them and our stakeholders to create lasting value throughout the project lifecycle.”
The Hammerhead FPSO will have the initial annual average production of 150,000 barrels of oil per day (BOPD), along with associated gas and water. It will be moored at a water depth of approximately 1,025 metres.
The Hammerhead FPSO will be MODEC’s second for use in Guyana, following the Errea Wittu, which is currently being built for ExxonMobil Guyana’s Uaru project. As with the Uaru Project, MODEC will provide ExxonMobil with operations and maintenance services for the FPSO for 10 years from first oil.
The US$6.8 billion Hammerhead project, due to start up in 2029, is the seventh project on the Stabroek block, and will include 18 production and injection wells.
ExxonMobil is producing approximately 650,000 barrels of oil per day from the Stabroek block. With the recent successful startup of a fourth FPSO, the ONE GUYANA, the company anticipates growing production to more than 900,000 barrels of oil per day by the end of the year. Construction is underway for the fifth and sixth approved projects, Uaru and Whiptail, with Uaru anticipated to start production in 2026, and Whiptail is anticipated for startup in 2027.
ExxonMobil affiliate ExxonMobil Guyana Limited is operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.
AF Gruppen, through its AF Offshore Decom subsidiary, has entered into a Joint Venture (JV) with THREE60 Energy after being awarded a contract with bp to provide integrated decommissioning services for the Andrew field in the North Sea.
For the first time in the UK Continental Shelf, this contract with see the JV assume the role of decommissioning partners where the two companies will deliver post-cessation of production operations, well decommissioning, facilities/pipelines/topsides preparation, substructure and topsides disposal and subsea infrastructure removal.
The JV will also work alongside the topsides removal contractor to ensure successful unified delivery of the full decommissioning scope.
The project will be carried out under a long-term framework agreement, with the contract value worth up to NOK4,000mn.
Lars Myhre Hjelmeset, EVP Offshore at AF Gruppen, said, “AF Offshore Decom has for many years been an advocate for integrated decommissioning solutions and we are very proud to make the move from concept to execution together with our client bp and partner THREE60 Energy. This initative responds to the call for new business delivery models aimed at reducing cost and complexity and supporting ‘next generation’ decommissioning.”
The Andrew field is located 225km northeast of Aberdeen and serves as a central hub for four subsea fields and includes 17 platform wells, eight subsea wells, 41km of subsea bundles, 42km of umbilicals, and 2,500 tonnes of subsea equipment.
Expro, a leading energy services provider, has successfully completed the first full deployment of its Remote Clamp Installation System (RCIS), marking a major advancement in offshore safety and operational efficiency
Developed by Expro’s Frank’s Tubular Running Services (TRS), the RCIS provides a unique industry solution for smart well completions, enabling real-time monitoring and control of downhole tools from the surface via control lines. This technology allows operators to optimise production, manage downhole safety devices essential for well integrity, and extend well life, reducing the need for costly interventions. By fully automating clamp installation on tubing, the RCIS eliminates much of the manual work traditionally required, enhancing efficiency and reducing personnel exposure on the rig floor.
The RCIS was first deployed in the UK’s North Sea during Q4 2024 as part of a test trial, delivered in collaboration with BP, which partially sponsored the technology’s development.
Following this success, the RCIS was deployed again in Q2 2025 by another North Sea operator, where Expro ran a complete hands-free Upper Completion at up to 15 joints per hour with zero non-productive time or control line damage, increasing running efficiency by 25%. Control line clamps were installed remotely, cutting installation time by around two minutes, or 50% per clamp.
Jeremy Angelle, vice-president of Well Construction, said: “This is a breakthrough in clamp installation. By automating a previously manual and high-risk process, we’ve not only increased efficiency but also advanced safety in a meaningful way.”
“The RCIS is designed to offer a practical solution for reducing exposure in hazardous zones, improving crew safety, and streamlining completion activities. As the industry continues to seek ways to minimize manual intervention and improve efficiency, the RCIS represents a scalable, forward-looking solution for offshore operations worldwide.
Angelle added: “This is a new era of safer, smarter completions.”
Saipem has officially received the go-ahead from ExxonMobil Guyana Limited to commence full-scale operations for the Hammerhead oil field development project. This offshore venture, located around 1,000 metres deep in the Stabroek block off Guyana, is valued at approximately US$500mn.
The partnership between Saipem and ExxonMobil began earlier this year, when Saipem was granted a Limited Notice To Proceed (LNTP) on April 2, 2025. This initial step allowed Saipem to begin detailed engineering work and procure essential long-lead equipment. Now, following the necessary regulatory approvals and ExxonMobil’s final investment decision, Saipem is set to push ahead with the project, with offshore operations slated for 2028.
The scope of Saipem’s work will involve engineering, procurement, construction, and installation (EPCI) of key subsea infrastructure, including umbilical, riser, and flowline (SURF) structures. These components will be critical for the production facilities and the gas export system needed for the Hammerhead oil field. The project site is located approximately 200 km from the Guyanese coastline.
Saipem plans to deploy a range of specialised equipment for this ambitious project, including the Saipem FDS2 and the Shen Da, which is part of the company's chartered vessel fleet. The logistics will be managed through the Vreed-en-Hoop Shorebase Inc. (VEHSI), ensuring local job creation and business opportunities in Guyana.
With this major milestone, Saipem solidifies its strategic partnership with ExxonMobil in Guyana, further strengthening its presence in the region. Saipem’s commitment is also reflected in its previous contracts with ExxonMobil for other projects in the Stabroek block, including Liza Phase 1 and 2, Payara, Yellowtail, UARU, and Whiptail.
The energy technology company has been awarded a significant deal from Petrobras to suppler up to 50 subsea tree systems and associated services to support offshore oil and gas production across multiple fields in Brazil.
Under the agreement, Baker Hughes will manufacture Petrobras’ pre-salt standard subsea tress, as well as subsea distribution units, in-line trees and vertical connection systems, to enable safe, reliable and efficient production on the seafloor.
In addition, topside control cabinets will provide monitoring and control of subsea equipment from floating production storage and offloading vessels.
Amerino Gatti, Executive Vice President of Oilfield Services & Equipment at Baker Hughes, said, “Baker Hughes has a history of innovation and operational excellence throughout our decades of collaboration with Petrobras. This agreement opens new opportunities to accelerate growth in Brazil’s offshore energy sector, and we look forward to helping Petrobras efficiently and responsibly develop the hydrocarbon resources that power Latin America.”
The modern subsea systems will enhance recovery in fields including Albacora, Jubarte and Barracuda-Caratinga. They will also be deployed in more recent pre-salt developments, including the Mero and Buzios fields, to optimise production in new wells.
The Australian government is seeking feedback on the Offshore Decommissioning Directorate’s progress in implementing Australia’s Offshore Resources Decommissioning Roadmap.
The Decommissioning Roadmap was released in December 2024 with the aim of maximising the opportunities arising from the estimated US$60bn worth of offshore oil and decommissioning activity due to take place in Australia over the next five decades. It gives a pathway to scaling up Australia’s local decommissioning industry with the aim of boosting local capabilities and creating jobs, as well as ensuring oil and gas infrastructure is decommissioned in a timely, safe and environmentally friendly way.
The roadmap focuses on five key areas of opportunity:
1. Ensuring a regulatory framework that protects the environment and attracts investment
2. Partnering with First Nations people and local communities
3. Optimising infrastructure opportunities and availability
4. Supporting new jobs and investment in recycling and waste management
5. Building a skilled, safe and diverse offshore decommissioning workforce.
The Directorate works with industry, unions, state and territory governments, international partners and other interest groups and organisations to maximise the benefit of decommissioning oil and gas infrastructure to the Australian economy and the environment. Feedback is sought from the businesses, communities and organisations it works with on its activities so far and how it can best continue supporting offshore oil and gas decommissioning activities in Australia. This will help it to ensure it is meeting industry and community needs, as well as directorate objectives, improve its decommissioning guidance and research and refine what it is working on to better meet needs and objectives over time.
For more information and to take part in the survey, go to https://app.converlens.com/industry/offshore-decommissioning-directorate-evaluation-survey
The survey closes on 24 October 2025.
Archer Limited, based in Bermuda, has announced plans to acquire Premium Oilfield Services, LLC, a US-based well services provider specialising in fishing and plug & abandonment (P&A) operations. Premium is known for its experienced workforce and strong service reputation with major oil and gas operators.
This move is part of Archer’s strategy to expand its presence in the Gulf of Mexico, where its combined client base with Premium covers over 80% of the projected $15 billion deepwater P&A and decommissioning market through 2040.
The US$20 million acquisition will be financed through a planned private placement. It is expected to close shortly after the placement is completed, subject to standard closing conditions, including financing.
One key benefit of the deal is Archer’s acquisition of a well-maintained fleet of fishing equipment valued at $35–40 million, which will cut rental costs and boost efficiency. The acquisition will create cost and capital synergies and is expected to deliver a full return on investment within two years.
Financially, the deal is seen as highly accretive. Archer anticipates a 5% boost to annual EBITDA and an 8–10% rise in annual cash flow, based on pro-forma results and synergies. This supports the company’s strategy to increase shareholder returns and reduce debt.
This acquisition builds on Archer’s strong M&A track record. Since 2023, the company has invested around $90 million in bolt-on acquisitions, generating approximately $30 million in EBITDA, reflecting a multiple of around 3x EV/EBITDA. Archer aims to continue targeting accretive, synergy-driven deals in the well services space.
The UAE’s offshore sector is poised for a major expansion, with nearly 83,000 skilled positions expected to be created within the next five years, according to new analysis from recruitment specialist Robert Walters.
The report forecasts that the industry could inject as much as US$7bn (Dh25.7bn) into the national economy by 2030, compared to its current contribution of US$4.79bn. This represents growth of around 46 per cent, underscoring the offshore industry’s increasing role in the country’s economic diversification.
Traditionally linked to oil exploration and drilling, offshore activity now encompasses a wider range of operations carried out beyond coastal waters, from energy extraction to advanced infrastructure development. For decades, global and local companies have maintained a strong presence in the UAE, employing thousands across these activities.
Phill Brown, head of market intelligence at Robert Walters, said the findings reflect how offshoring is shifting from a cost-saving measure to a strategic driver of growth.
Several factors underpin this momentum: the UAE’s strategic position linking Europe, Asia, and Africa; its business-friendly environment; a digitally advanced infrastructure; and strong government support for innovation and new technologies.
As a result, more international firms are relocating complex offshore functions to the Emirates. Demand is rising for professionals in areas such as cybersecurity, artificial intelligence, machine learning, and product analysis, signalling a shift toward knowledge-based roles rather than traditional manual offshore work.
By positioning itself as a hub for offshore talent and innovation, the UAE is expected to capture a growing share of this evolving sector, further cementing its role as a global business and energy leader.
Russian energy major Gazprom has confirmed a lengthy delay to its Sakhalin 3 offshore project, with first gas now unlikely before 2028, three years later than previously anticipated and one year after it is supposed to start supplying China through a new cross-border pipeline.
The revised schedule was disclosed by Sakhalin Governor Valery Limarenko during an industry gathering in Yuzhno-Sakhalinsk, where he noted that production at the complex would not begin until at least 2028.
Sakhalin 3 covers four separate deposits. The smallest, Kirinskoye, holds around 162bn cubic metres of reserves and began output in 2013 using subsea equipment supplied by FMC Technologies, now part of TechnipFMC.
Gazprom had initially intended to apply the same approach at South Kirinskoye, the largest field in the block with an estimated 815bn cubic metres of reserves.
That strategy collapsed in 2015 after the United States introduced sanctions following Russia’s annexation of Crimea. Since then, Gazprom has been forced to turn to domestic suppliers.
In 2019, it awarded a contract to defence manufacturer Almaz-Antey to design and build subsea production systems. While the company delivered two specialised subsea wellheads in 2023, progress on the remaining infrastructure has stalled, with no clear delivery schedule announced.
The continued delays underscore the difficulties Gazprom faces in developing technically complex offshore projects without Western technology, particularly as pressure mounts to secure new export flows to China.
Global technology company SLB has announced a major contract with Petrobras to provide services and technology for up to 35 ultra-deepwater wells in the Santos Basin.
The wells target large oil and gas reserves beneath thick salt layers located up to 2,000 metres below the surface.
As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to produce the hard-to-access resources.
Paul Sims, President of Production Systems, SLB, said, “This will help Petrobras drive greater reliability, system uptime and production performance in those fields – supporting Brazil’s energy security and economic growth ambitions.”
Work is scheduled to begin by mid-2026 and will feature advanced services and technology for SLB’s completions portfolio, including the Electris high-flow-rate interval control valves.
Under a new agreement, Haliburton will have the right to deploy WellSense’s FiberLine Intervention (Fli) technology for use in well stimulation monitoring.
WellSense, a subsidiary of FrontRow Energy Technology Group, will continue to deploy the technology globally for all other oil and gas applications, including well P&A, well integrity and leak detection, as well as CCUS.
CEO of WellSense, Annabel Green, said, “The successful completion of this deal is a defining moment for WellSense and for our parent company, FrontRow Energy Technology Group. Not only is it a strong industry endorsement of our technology and the value it delivers, but also our business model of bringing new and innovative solutions to market.
“Our unique bare fibre dynamic despooling technology delivers superior data quality for a detailed subsurface understanding. Unlike other well monitoring techniques, it provides a lightweight offline intervention solution with disposable probes for significant efficiency savings and reduced risk.”
Fli, which was developed 10 years ago, commenced commercial operation in 2018.
Weatherford International plc has announced that it has been awarded an eight-year contract by SNGN Romgaz S.A., Romania’s largest natural gas producer and main supplier, and the third-largest gas producer in Europe.
The contract involves providing services for real-time monitoring and transmission of dynamic parameters from gas well wellheads, enhancing production optimization through digital and AI-enabled insights.
This represents Romgaz’s first engagement of such services, demonstrating the company’s commitment to digital transformation and production automation. Under the agreement, Weatherford will implement a wellsite monitoring campaign across thousands of existing wells. Using cloud infrastructure, Weatherford technology will gather critical field data, providing Romgaz with essential information for production decisions. This data will guide in-field automated infrastructure supplied by Weatherford to achieve Romgaz’s production optimisation goals.
Girish K Saligram, president and chief executive officer of Weatherford, commented, “We are proud to support Romgaz in their first deployment of real-time monitoring services. With our technology, expertise, and recent investments in Romania, Weatherford is well positioned to help Romgaz optimise production and build fields of the future with solutions that enable smarter and more reliable operations.”
Razvan Popescu, chief executive officer of Romgaz, added, “Partnering with Weatherford marks a significant step forward in Romgaz’s digital transformation journey. For the first time, we are implementing real-time wellsite monitoring technologies that will provide actionable insights and enhance the efficiency of our operations. This initiative aligns with our strategic objectives of innovation and operational excellence. We are confident that this collaboration with Weatherford represents a strategic first step in integrating AI-driven technologies into our operations and laying the foundation for a new era of intelligent transformation.”
Weatherford’s well monitoring solutions deliver continuous, high-fidelity well data, enabling smarter decision-making and proactive intervention strategies. Implementing these systems will allow Romgaz to gain enhanced visibility of well conditions and optimise production throughout the duration of the contract.
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