Drilling Hardware News

SBM Offshore has secured project financing worth $465 million for the Chalchi floating storage and offloading (FSO) vessel, being built for Woodside Energy's Trion project offshore Mexico.The financing has been provided by a consortium of international banks and institutional investors and includes partial insurance cover from China Export & Credit Insurance Corporation.SBM Offshore said the financing would be drawn during the construction period and would become non-recourse after the vessel starts operations.

Oil prices rose on Friday as the prospect of a lasting truce between the U.S. and Iran was clouded after peace talks in Switzerland were called off and as Israel stepped up attacks on Lebanon.By 0645 GMT, Brent crude futures LCOc1 gained 51 cents, or 0.64%, to $80.36 a barrel, and U.S. West Texas Intermediate crude CLc1 rose $1.28, or 1.7%, to $77.88 a barrel, with the front-month July contract expiring on Monday. Both contracts were headed for a weekly loss of about 8%.The more actively traded WTI August contract CLc2 was up 59 cents at $76.44 a barrel.Switzerland said U.S.

The digitalization trend in offshore energy operations is hardly news, but the speed of technology evolution, driven by artificial intelligence with the companion threat of cyber breaches offers as many questions as answers, as many challenges as opportunities. To help put things in perspective Offshore Engineer TV interviewed Matt Tremblay, SVP, Global Offshore Markets, American Bureau of Shipping (ABS) recently in Houston to discuss the investments in effort and capital this…

Northern Lights JV has awarded a consortium comprising Kawasaki Kisen Kaisha (“K" LINE) and Malaysia's MISC Berhad a time charter contract for a newly built 12,000 cubic meter liquefied CO2 (LCO2) carrier, supporting the expansion of Europe's carbon capture and storage (CCS) infrastructure.The award follows Northern Lights' January 2026 announcement of four additional CO2 carriers to support planned capacity expansion. The latest contract marks the second vessel awarded to the “K” LINE-MISC consortium.The vessel will be constructed by Dalian Shipbuilding Offshore.

Oil prices rose more than 3% on Monday after Iran and the U.S. traded strikes and Israel ordered troops to move further into Lebanon in its battle with Tehran-backed Hezbollah.U.S. crude futures CLc1 rose $2.88 or 3.3% to $90.24 a barrel as of 0701 GMT. Brent LCOc1 futures rose $2.78 or 3.05% to $93.9 a barrel.The fighting, after Washington hosted Israel-Lebanon peace talks on Friday, dimmed hopes that the U.S. and Iran could soon announce an extension to their ceasefire, which had driven Brent and WTI to settle down 1.8% and 1.7%, respectively, on Friday.The U.S.

IKM Acona has been awarded a framework agreement with Vår Energi for the delivery of drilling and wells services on the Norwegian Continental Shelf.The agreement has a duration of four years, with options for an additional 2 + 2 years.The agreement covers support and advisory services within drilling and wells, including engineering studies, procedures, reporting, and project support.The scope of work includes activities within subsurface, rig intake, drilling, completion, well testing…

Copenhagen Infrastructure Partners, a Danish firm eager to invest in Italian offshore wind farms, is getting impatient.Two years after the country's 2024 law offered incentives to would-be developers to provide offshore wind capacity, the government has yet to announce a calendar for auctions it said it would hold by 2028.The inertia reflects a reluctance to embrace the transition from fossil fuels as a complex and polarised international debate pits clean energy campaigners against some governments and companies. U.S.

Fast Offshore Supply (FOS) has selected Incat Crowther to design a fleet of 10 new DP2 fast crew transfer vessels (CTVs) for offshore operations supporting Brunei Shell Petroleum, a joint venture between Shell and the Government of Brunei.The 55-metre aluminum vessels will transport offshore personnel and cargo to Brunei Shell Petroleum assets and will be built at multiple shipyards in the region, including FOS’s own yard in Singapore.The vessels will each carry up to 80 passengers and 150 tonnes of cargo at speeds of up to 30 knots…

Security is all too often treated as a purely compliance-driven exercise. This isn’t advisable in any industry, but it is particularly damaging for those that fall under critical infrastructure frameworks. Ports, and, by extension, the dredging operations that maintain and expand shipping lanes, are the backbone of global trade, underpinning essential supply lines. Security threats and workplace distributions therefore carry repercussions that extend far beyond any individual location, and facilitate a response that goes beyond passive monitoring and reactive measures.

Major industry announcements and new product launches continued to drive significant visitor numbers and plentiful business activity as Oceanology International 2026 (Oi26) surpassed expectations on the second day at Excel London.Among the companies taking center stage, expanding platform OceanSight used Oi to unveil its new collection of ocean technology brands built to advance marine sensing and subsea intelligence, celebrating an exciting new chapter focused on accelerating innovation and strategic growth.OceanSight…

Altech Corporation has introduced a line of pluggable terminal blocks that enable simple and fast installations, field wiring and equipment test setups.These compact, pluggable terminal blocks combine accurate, secure wire connections with simplicity and time savings.Pluggable terminal blocks are a truly hybrid technology, combining the security of a spring clamp connection with a plug connection to make disconnection and reconnection fast and easy without the connection errors often caused by vibrations, configuration issues or poor manual assembly.

Germany’s Ernst Russ has acquired two multi-purpose vessels, MV Ronnie and MV Charlie, as part of its long-term fleet strategy to expand exposure to the project cargo segment and strengthen predictable earnings.The Hamburg-based shipowner said both vessels have been fixed on seven-year charters to dship Carriers, a globally operating European company specialized in project cargo, providing long-term employment and improved cash flow visibility.The vessels, scheduled for handover in the first quarter of 2026…

The Bureau of Ocean Energy Management announced proposed revisions to its regulations governing hard mineral resources on the U.S. Outer Continental Shelf aiming to advance exploration and development of critical minerals essential to national security, economic competitiveness and technological progress.These proposed updates align with Executive Orders 14285 and 14154, which prioritize unleashing America’s potential to explore and develop OCS critical mineral resources. The updates also support Executive Order 14192…

Recent discussions with industrial teams have underscored how rapidly the digital “threatscape” is evolving across global energy systems, from oil and gas to chemicals, specialty gases, power generation, and transmission and distribution networks, says ABS Consulting Technical Director, Global Energy, Marco Ayala.The petrochemical sector must manage cyber risk amid supply chain and cyber vulnerabilities.Facing volatile energy prices, margin compression, supply chain disruptions and evolving regulatory requirements…

Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders the remaining 47% on a fully diluted basis.The transaction will combine fleets to form a portfolio of 73 offshore rigs…

Vard, the Norwegian subsidiary of the Fincantieri Group, has delivered the second Commissioning Service Operation Vessel (CSOV) to Windward Offshore, named Windward Paris.The naming ceremony was held at the delivery yard, Vard Brattvaag in Norway on January 28, 2026.Windward Paris is the second CSOV Vard has delivered to Windward Offshore, one week before contractual delivery date.The first vessel Windward Athens, delivered on time in September 2025, is currently operating under an O&M contract…

James Fisher and Sons has invested in U.S.-based autonomous marine technology company Ocean Aero, taking a strategic minority stake as part of Ocean Aero’s Series D funding round.The investment increases James Fisher’s exposure to autonomous and low-emission marine technology and supports the development and deployment of Ocean Aero’s Triton Autonomous Underwater and Surface Vehicle (AUSV), a wind- and solar-powered platform designed to operate without onboard crews.Ocean Aero designs…

Saipem has launched a new Drilling Training Centre featuring a full-scale simulator designed to provide immersive, hands-on training for drilling personnel.The center is accredited by the International Well Control Forum, a global body for well control competency certification, enabling it to deliver internationally recognized training and certification for personnel working on drilling rigs.At the core of the facility is a full-scale simulator that reproduces real operational drilling scenarios, combining theoretical instruction with practical training.

Vantris Energy, formerly known as Sapura Energy, has divested its 40% equity stake in L&T-Sapura Shipping to joint-venture partner Larsen & Toubro for total consideration of about $30.5 million, as part of a broader portfolio optimization strategy.The transaction includes equity consideration as well as the full repayment of an outstanding shareholder loan and accrued interest owed to Vantris Energy. The divestment was executed through the group’s indirect wholly owned subsidiary Sapura Nautical Power…

The Arab Shipbuilding and Repair Yard Company (ASRY) has completed several rig repair and upgrade projects for Saudi-based ADES Holding, strengthening the partnership between the two companies.In 2025, several ADES jack-up rigs underwent major works at ASRY’s facilities in Bahrain.The ADM-501 and ADM-504 units were prepared earlier in the year for drilling operations in Nigeria, while upgrade works on ADM-503 and ADM-511 were recently finalized ahead of upcoming drilling campaigns…

Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices.This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump's trade wars, the intensified targeting of energy infrastructure in Russiain its war against Ukraine, OPEC’s often perplexing production decisions and the recently threatened U.S. blockade of Venezuela.So what’s in store for next year?

Norwegian offshore supply vessel owner DOF Group has secured seven new contract extensions with Petrobras for its offshore support vessels (OSVs) in Brazil, valued over $160 million.Five of DOF's Brazilian-flagged anchor handling tug supply (AHTS) vessels, all with ROVs on board, including Skandi Fluminense, Skandi Paraty, Skandi Angra, Skandi Urca and Skandi Iguaçu, have had their current contracts with Petrobras extended until the first quarter of 2027.The new four-year contracts…

Jumbo Offshore has signed two contracts for the Transport and Installation (T&I) of Transition Pieces (TPs) for an upcoming offshore wind farm development.Jumbo Offshore will install the TPs using one of its two DP2 heavy-lift vessels during the project campaigns.In addition to T&I, the awarded scope includes full management and operation of the marshalling yard.This includes responsibility for receiving the TPs from the transport vessel at the quayside, transferring them to the storage area…