As required by the Inflation Reduction Act, the Bureau of Ocean Energy Management (BOEM) on December 20, 2023, held the Gulf of Mexico Oil and Gas Lease Sale 261.

As we’re approaching the end of 2023, it’s thus far been another noteworthy year for the rig market’s ongoing recovery. The year has brought a further 3% increase in global marketed utilization versus 2022, a demand increase of 29 rigs, a 7% uptick in average contract duration, 16 further reactivations and newbuild deliveries, and not to mention floating rig dayrates exceeding the ‘magical’ $500,000 mark.

Koil Energy Solutions, Inc., an international specialist in subsea energy equipment and services, announces the acquisition of a significant order for a groundbreaking design of steel tube flying leads of extended lengths directly from an operator.

Halliburton Company announced it will work with Libra Consortium, led by Petrobras, to develop a digital twin for a pre-salt field system in Brazil. The Libra digital twin will help the consortium reduce capital expenditures, accelerate production times, and improve crude oil recovery rate using new insights obtained in a real-time environment.

Equinor and its operating co-owner, Shell Offshore Inc., a subsidiary of Shell plc, have reached the final investment decision for the Sparta deepwater development, located in the US Gulf of Mexico (GOM). Equinor holds a 49 percent interest in the field.

Subsea7 has announced the award of a sizeable¹ extension of an existing frame agreement by bp, for subsea construction, inspection, repair and maintenance services (IRM), across bp’s North Sea assets.

The launch at COP28 of the landmark Oil and Gas Decarbonization Charter (OGDC), a global industry Charter dedicated to speeding up climate action and achieving high-scale impact across the oil and gas sectors, firmly put the spotlight on the millions of tons of methane (CH4) pumped into the atmosphere during oil and gas operations.

Norwegian Diving Contractor, SubseaPartner, has been awarded a substantial contract for the 2024 season. The work is awarded by OceanInstaller for end-client Vår Energi as part of the Balder Future Project.

TotalEnergies and its partners QatarEnergy and Petronas have signed a production sharing contract for Block 64 with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname. Block 64 was awarded to TotalEnergies and its partners in the Bid Round 2022-2023 organized by the authorities of Suriname.

Trendsetter Engineering, Inc. (TEI) announces a contract award by Woodside Energy to provide several subsea manifolds with foundations, valves, and connection systems to support their Trion project off the coast of Mexico. This contract award follows a detailed engineering phase kicked off in 2022 to refine critical components of the project.

SteelTrace has made a significant achievement in collaboration with Subsea7. This partnership marks a milestone as SteelTrace embarks on its first pipeline project in the North Sea, reinforcing its commitment to increasing efficiency and quality standards while meeting the digital needs of the operator.

Prysmian, a world leader in the energy and telecom cable systems industry, after a competitive tender has been awarded a contract worth over €100 million by Petrobras to provide 170 km of deep-water electro-hydraulic umbilicals and the related specialized offshore and logistic services.

Spectaire Holdings Inc., a leader in air quality monitoring and emissions reduction technology, has completed the innovation in its mass spectrometer series to open up the Oil and Gas industry to the AireCore™ product suite.

Equinor has entered into an agreement to acquire Shell’s equity in and operatorship of the Linnorm discovery in the Norwegian Sea.

Transocean Ltd. announced a minimum 540-day contract for the Transocean Barents with OMV Petrom S.A. in the Romanian Black Sea at a rate of $465,000 per day, excluding additional services.

TDI-Brooks successfully completed and safely performed multiple shallow hazard surveys off the East Coast of Trinidad for Perenco T&T Limited. TD-Brooks’ research vessel RV PROTEUS operated geophysical survey equipment such as 2DHR seismic, side scan sonar, magnetometer, sub bottom profiler and multi-beam echosounder.