Industry News

Cadeler has signed an exclusivity agreement with an undisclosed client for the installation of wind turbines and foundations at a large-scale offshore wind farm in the UK, with the campaign expected to begin around 2030.The planned foundation installation campaign will use vessels from Cadeler's A-Class and O-Class fleets, while a P-Class vessel is expected to carry out wind turbine installation.The agreement covers both installation scopes, reflecting the early reservation of…

Techouse has secured a contract from Black & Veatch to supply heat recovery steam generation (HRSG) modules for Golar LNG's fourth floating liquefied natural gas (FLNG) project, with the system expected to reduce fuel consumption by 20-25% compared with conventional gas turbine-only systems.The contract covers two HRSG modules weighing approximately 1,000 tonnes each, along with supporting systems, Techouse announced on November 10.Techouse will deliver the equipment as a subcontractor to Black & Veatch…

Abu Dhabi-based industrial AI company AIQ and US maritime intelligence firm Quartermaster have signed a strategic collaboration agreement to explore AI-enabled maritime safety and security solutions for offshore energy operations.The agreement, signed during ADIPEC 2026 in Abu Dhabi, will initially focus on the United Arab Emirates, with plans to explore opportunities across the Gulf Cooperation Council (GCC) region and international markets.The collaboration will combine Quartermaster's SmartMast maritime sensor network with AIQ's expertise in offshore oil and gas operations…

Oil prices fell on Tuesday, extending losses from the previous session after US President Donald Trump downplayed the need for additional military action against Iran "at this point," easing fears of sustained supply disruptions from the Middle East.Brent crude futures LCOc1 declined 1.7% to $90.99 a barrel at 0759 GMT, while US West Texas Intermediate (WTI) futures CLc1 fell 1.8% to $85.20 a barrel.

ExxonMobil said on Monday it signed a memorandum of understanding with Venezuelan state oil company PDVSA to assess upstream oil opportunities, marking a potential return to the country nearly two decades after its assets were expropriated.The agreement is non-binding and does not commit Exxon to any specific project."This memorandum is a meaningful first step, but any future investment would require stable policies, clear regulations, strong investment protections and competitive returns," Exxon said in a statement.The company did not say which projects or oil areas it was evaluating.

ADNOC Drilling Company PJSC announced that Kuwait Petroleum Corporation Higher Procurement Committee (KPCHPC) has approved the award to ADNOC Drilling of two separate contracts for Rig 1 and Rig 2 under Tender No. RFP-2151011 for Kuwait Oil Company (KOC), relating to the provision and operation of two high-specification offshore jack-up rigs. The combined maximum value of the two contracts is USD$313.6 million (KWD 96,554,561.040). The approval marks ADNOC Drilling’s entry into…

DOF Group has secured a contract extension for its anchor handling tug supply (AHTS) vessel Skandi Mariner, keeping the vessel under firm contract until the third quarter of 2028.The extension follows the declaration of an option under the vessel's existing contract, which had previously been scheduled to expire in the second quarter of 2027.DOF classified the extension as significant, a category it defines as having a contract value between $15 million and $25 million.The Skandi Mariner, built in 2017, is a 95-metre vessel designed by Salt Ship Design 200, with accommodation for 52 people.

Heerema Marine Contractors has extended its global framework agreement with Fugro for another four years, securing continued survey and positioning support for its heavy-lift vessel fleet across offshore installation, decommissioning and wind projects.The renewed agreement runs from January 2027 through December 2030 and covers Fugro's positioning and survey services for Heerema's offshore operations worldwide.Fugro will provide Geo-data and positioning support for the transport…

MEYER WERFT is establishing the organizational and legal framework for the successful development of its offshore converter business. To this end, all activities in this new business segment of the Group will be consolidated in the coming weeks into a separate company, NEPTUN Offshore GmbH & Co. KG. This company will also hold the 50 percent stake in the Rostock-based joint venture NEPTUN SMULDERS Offshore Renewables (NSORe).With the contract awarded this year by the grid operator 50Hertz for the construction of two converter platforms in the North Sea (LanWin3 and LanWin6)…

CM Energy is progressing work on an integrated cable-handling and marine equipment package for a new Asso.subsea vessel, expanding its involvement in the European offshore wind market.The contract covers specialist cable-handling equipment and associated marine systems for the vessel, with engineering and manufacturing activities underway at CM Energy's facilities in China.Elements of the project also involve the European supply chain.Asso.subsea specializes in subsea cable installation…

Subsea7 has agreed to sell its Seaway7 heavy transportation business, comprising six semi-submersible vessels, to HEA Energy in a transaction linked to its proposed merger with Saipem.The sale covers six open-deck semi-submersible heavy transportation vessels, five of which are owned and one chartered from a third party.According to the Seaway7’s fleet information, the six heavy transportation vessels include Seaway Albatross Seaway Eagle, Seaway Falcon, Seaway Hawk, Seaway Osprey…

Vard has started construction of the UPO Atlantic commissioning service operation vessel (CSOV) for U-Ming Purus Offshore (UPO), following a steel-cutting ceremony at its Vard Vung Tau shipyard in Vietnam.The ceremony, held on November 2, marked the first construction milestone for the vessel, designated NB 1004 and based on Vard's VARD 4 19 design.The UPO Atlantic is being developed to support offshore wind projects in Taiwan and across Asia, as part of UPO's expansion into the…

BOURBON has taken delivery of the first of two new 34-meter crew boats from Grandweld Shipyards in Dubai, expanding its fleet of offshore personnel transport vessels.The first vessel was officially delivered on November 3 following successful sea trials.Designed to transport offshore personnel, the new vessels have capacity for 60 passengers, with business-class-style seating, a cruising speed of up to 38 knots and improved fuel efficiency compared with the previous generation…

Cadeler has signed a firm contract to support turbine transportation and installation at the 1.2 GW Dogger Bank C offshore wind project in the UK, with its newbuild Wind Apex wind turbine installation vessel (WTIV) scheduled to join the campaign in the third quarter of 2027.The contract will mark the first deployment of Wind Apex following its delivery from the shipyard, according to Cadeler.The vessel will work alongside the project's existing installation vessel, providing additional…

Dutch-based Jack-Up Barge, backed by the Van Es Group, has expanded its fleet with the three-legged accommodation and services jack-up unit JB 121, following a naming ceremony in Dalian, China.The ceremony took place on November 3 at Dalian Shipbuilding Offshore, ahead of the unit's scheduled departure for the Netherlands in early November.Jack-Up Barge, a company that provides support services across the offshore wind, oil and gas, and maritime infrastructure sectors, initiated the acquisition of JB 121 earlier in 2026 as part of its fleet expansion strategy…

Stillstrom by Maersk has completed the construction and factory acceptance testing of what it describes as the world's first 11 kV vessel-mounted connection unit designed to charge service operation vessels (SOVs) directly from offshore wind farms.The milestone, witnessed by DNV, marks the completion of testing for Stillstrom's Vessel Container Unit (VCU), a modular system designed to transfer electricity from offshore wind infrastructure to vessel batteries.The containerised unit houses an 11 kV connector package and can be installed at the bow…

Saudi state oil giant Aramco is working to expand a crude pipeline that circumvents the Strait of Hormuz as the world continues to experience the biggest energy supply shock in history, CEO Amin Nasser said on Tuesday.The effective blockade of the chokepoint that links the Gulf to world markets, previously a conduit for 20% of global oil supplies, has redrawn global energy flows and infrastructure investment priorities among the region's oil producers.Last month, Saudi Energy…

Hornbeck Offshore Services has signed multiple agreements with Shell to provide deepwater well intervention and marine support services in the U.S. Gulf of America, with operations scheduled to begin in 2027.The agreements cover riser-based well intervention, riserless well intervention stimulation support and marine transportation services, according to Hornbeck.Under the agreements, Hornbeck expects to deploy a riser-based well intervention vessel equipped with an Intervention Riser System (IRS) and remotely operated vehicles (ROVs)…

Oil fell nearly 4% on Monday as talks between Iranian and Qatari officials on a deal to end the US-Israeli war on Iran raised hopes that Middle East supply disruptions could ease.Iranian negotiators left Doha talks on Sunday, but not due to difficulties in negotiations, an official briefed on the meeting told Reuters on Monday."The new month brought with it renewed hopes of a breakthrough in the Iranian stalemate," said Tamas Varga of oil broker PVM.Brent crude futures LCOc1 fell $4.20…

Big Oil is reaping near record cash windfalls from the eight-month-old Iran war, but Western energy producers’ reluctance to ramp up spending reveals persistent doubts about the industry’s long-term outlook.BP, Chevron, Exxon Mobil, Shell and TotalEnergies reported combined net profits of $56 billion in the third quarter, driven by surging oil and gas prices, record-high refining margins and strong trading results.BP posted its highest quarterly profit ever, $8.5 billion, as earnings from its refining business rose tenfold from a year earlier.

Borr Drilling has confirmed the recovery of a fourth body following the sinking of its Prospector 5 jack-up rig offshore Gabon, with search operations continuing for one person still missing.The company said on November 2 that the body of a fourth individual had been located during ongoing search and rescue operations, bringing the number of confirmed fatalities to four.All four bodies have been recovered and are being transported to Port Gentil, Gabon.The Prospector 5 sank offshore…

Huisman has secured a contract from Siem Industries to supply four knuckle boom cranes for two offshore subsea construction vessels under construction at Fujian Mawei Shipbuilding in China, with deliveries of the vessels scheduled for 2029 and 2030.The contract covers two 400-tonne knuckle boom cranes with below-deck winches and two 50-tonne auxiliary cranes with deepwater capabilities, Huisman announced on October 29.The cranes will be manufactured at Huisman's production facility in Zhangzhou, Fujian Province, China, while the vessels are being built at Fujian Mawei Shipbuilding in Fuzhou.Th

Solstad Maritime has secured two contracts for its Normand Australis construction support vessel (CSV) in the Asia Pacific region, with a combined firm duration of 250 days.The contracts will be executed consecutively, with operations expected to begin in December 2026, Solstad Maritime announced on October 30.The agreements also include options for a combined 75 additional days beyond the firm contract periods.The estimated value of the contracts is at the lower end of the $10 million to $30 million range.Under the contracts, Normand Australis will provide remotely operated vehicle (ROV) and