Saipem Rolls Out AI-Based Maintenance System on Ultra-Deepwater Drillship

Feb. 23 (OE) Saipem has introduced an artificial intelligence (AI)-based predictive maintenance system onboard its ultra-deepwater drillship Saipem 12000, aiming to improve operational efficiency and offshore safety. The system uses real-time data and artificial intelligence algorithms to monitor equipment conditions, predict potential failures and schedule interventions before issues occur. By anticipating faults, the approach is... Continue Reading →

February 23, 2026 0

Petrobras Mobilizes to Resume Drilling on the Equatorial Margin

Feb. 20 - Petrobras has already begun preparations to resume drilling of the pioneering well in block FZA-M-059, in the Foz do Amazonas Basin, on the Equatorial Margin. As a reminder, activity has been suspended since January 4th, following a loss of drilling fluid on the Foresea drillship ODN-II. “Petrobras has begun preparations to resume... Continue Reading →

February 20, 2026 0

Oil companies jostle for projects to boost Venezuelan output quickly; a real grind awaits

Feb 19 (Reuters) - In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela's oil-producing region of Lake Maracaibo. The passage of the big old rig named Alula just inches below the bridge connecting Maracaibo city with the oilfields of the lake's eastern coast stirred excitement... Continue Reading →

February 19, 2026 0

Suriname’s Oil Boom Faces Economic Headwinds Despite Major Discovery

Feb. 18 (oilprice.com) A slew of high-quality oil discoveries in offshore Block 58 by TotalEnergies and its 50% partner, APA Corporation, has seen the tiny South American country of Suriname touted as the next Guyana. While Suriname’s offshore waters hold considerable petroleum potential, the country’s oil boom has been fraught with delays. Conflicting geological data, high gas-to-oil ratios,... Continue Reading →

February 18, 2026 0

Saipem Agrees $272M Deal to Acquire Deep Value Driller Drillship

Feb. 17 (OE) Saipem has reached agreement on the main terms and conditions to acquire the seventh-generation drillship Deep Value Driller for $272.5 million. The Deep Value Driller is a high-specification ultra-deepwater drillship built in 2014, featuring GustoMSC P10000 design and able to accommodate 210 people. The drillship is capable of operating in water depths... Continue Reading →

February 17, 2026 0

Azule Energy Makes Significant Oil Discovery Offshore Angola

Feb. 16 (OE) Azule Energy, jointly owned by Eni and BP, has made an oil discovery at the Algaita-01 exploration well in Block 15/06 offshore Angola, with initial estimates pointing to approximately 500 million barrels of oil in place. The well, located in the offshore Lower Congo Basin, was spudded on January 10, 2026, in... Continue Reading →

February 16, 2026 0

Argentina’s Shale Boom Is Rewriting South America’s Energy Map

Feb. 14 (oilprice.com) The massive unconventional oil boom underway in Argentina continues to gain momentum. During late 2024, Argentina, which is South America’s second largest economy after Brazil, overtook Colombia to become the continent’s fourth largest oil producer. The surge in petroleum revenues, coupled with President Javier Mieli’s economic reforms, is a boon for one of the... Continue Reading →

February 16, 2026 0

BP Profit Climbs 32% as Company Suspends Buybacks

Feb. 10 (Reuters) BP posted quarterly profit in line with analyst expectations on Tuesday and suspended its share buyback programme as it wrote down around $4 billion in its renewables and biogas businesses. BP, whose new CEO Meg O'Neill will start in April, said it would allocate the excess cash to invest in oil and... Continue Reading →

February 10, 2026 0

Transocean to Acquire Valaris for $5.8B

Feb. 9 (Reuters) Oilfield services firm Transocean said on Monday it will acquire peer Valaris in an all-stock deal valued at $5.8 billion, expanding its exposure across deepwater, harsh-environment and shallow-water basins worldwide. Transocean shares were down 4% at $5.16, while Valaris shares were up 14.6% at $71.61 in premarket trade. Oilfield service providers have... Continue Reading →

February 9, 2026 0

Stena Drilling’s Stena Evolution Drillship Gets DNV’s Emissions Notation

Feb. 5 (OE) Stena Drilling’s Stena Evolution drillship has received the Abate (P+) notation from classification society DNV. The Abate (P+) qualifier confirms defined design and control of the vessel’s power generation systems, together with an emission and energy management system aligned with ISO 50001 principles. It also verifies the installation of technical and operational... Continue Reading →

February 5, 2026 0