Recalibrate contracts as tech rigs and integrated subsea awards tighten schedules

Gjøa platform; Source: Vår Energi TechnipFMC reported on June 25 the iEPCI contract for the Ofelia and Gjøa Nord projects in the Gjøa area, described as “large”, which the company defines as worth between $500 million and $1 billion. The direct award follows a five-year collaboration agreement the companies signed in 2025 to deliver subsea projects utilizing TechnipFMC’s integrated model and accelerate development through coordinated portfolio execution

Home Subsea TechnipFMC brings integrated approach to Vår Energi’s North Sea subsea projects June 26, 2026, by Norway’s oil & gas player Vår Energi has awarded TechnipFMC with an integrated engineering, procurement, construction, and installation (iEPCI) contract for subsea tie-back development projects in the North Sea

Home Subsea TechnipFMC brings integrated approach to Vår Energi’s North Sea subsea projects June 26, 2026, by Norway’s oil & gas player Vår Energi has awarded TechnipFMC with an integrated engineering, procurement, construction, and installation (iEPCI) contract for subsea tie-back development projects in the North Sea. Gjøa platform; Source: Vår Energi TechnipFMC reported on June 25 the iEPCI contract for the Ofelia and Gjøa Nord projects in the Gjøa area, described as “large”, which the company defines as wort

ADNOC Drilling enriches its rig fleet with the first AI-enabled walking island rig; Courtesy of ADNOC Drilling ADNOC Drilling has confirmed the delivery and acceptance of AD-300, the UAE player’s first AI-enabled, fully automated walking island rig, nearly three months ahead of schedule, enabling earlier revenue generation and accelerating the rollout of the six-rig next-generation program

AD-300 is the first of six next-generation island rigs under a $1

This is perceived to represent a fundamental shift in offshore well delivery, enabling faster and more consistent execution. The early start of operations, together with the phased deployment of the remaining rigs, supports revenue visibility and underpins the UAE driller’s continued growth in the second half of 2026 and into 2027

Baker Hughes will supply its deepwater horizontal tree systems to optimize production in the ultra-deepwater, greenfield development, as well as subsea control modules and intervention workover control systems, along with associated connection, distribution and topside equipment. The company shall also provide integrated tooling and services to support installation, commissioning and ongoing production performance from its facilities in Angola

Delivery of subsea trees is anticipated to start in 2027. According to Baker Hughes, the deepwater horizontal tree systems are engineered for ultra-deepwater environments with an operating threshold of up to 10,000 psi and depths of 10,000 feet

Baker Hughes will supply its deepwater horizontal tree systems to optimize production in the ultra-deepwater, greenfield development, as well as subsea control modules and intervention workover control systems, along with associated connection, distribution and topside equipment

The UK-headquartered giant will receive a fixed fee for the first two years, followed by a service fee linked to a percentage share of revenue generated from net incremental hydrocarbon production

” BP will work closely with ONGC’s multidisciplinary teams to identify and implement focused interventions across reservoirs, wells, and production facilities, as the collaboration will seek to moderate natural production decline, improve hydrocarbon recovery and operational efficiency, and support sustained production growth. The UK-headquartered giant will receive a fixed fee for the first two years, followed by a service fee linked to a percentage share of revenue generated from net incremental hydrocarbon p

Under the agreement, BP has been appointed as the technical services provider (TSP-1) for ONGC’s Western Offshore Basin fields, with India’s government-owned firm retaining complete ownership and operational control of the assets