Rebalance APAC Subsea Sourcing After Large EPC and Fleet Moves

Home Fossil Energy Velesto scraps proposed sale of 16-year-old jack-up rig July 13, 2026, by Malaysia’s Velesto Energy, owner of premium jack-up rigs, has called off a deal to offload a 2010-built jack-up, retaining the rig in its fleet

Home Fossil Energy Velesto scraps proposed sale of 16-year-old jack-up rig July 13, 2026, by Malaysia’s Velesto Energy, owner of premium jack-up rigs, has called off a deal to offload a 2010-built jack-up, retaining the rig in its fleet. NAGA 3 rig; Source: Velesto Energy A sale and purchase agreement (SPA) for the proposed disposal of the Naga 3 jack-up rig has been terminated months after it was inked on December 14, 2025, between PT Indonesia Drilling Energy and Velesto Drilling 3 (VD3L), a wholly-owned subs

As a result, Naga 3 remains an asset of Velesto

The EPC scope covers subsea trees, umbilical, manifolds, multiphase flowmeters and control systems, as well as installation, commissioning and life-of-field support

“Through our subsea production system technology and by leveraging our established local presence, we are supporting Eni’s efforts to advance a complex, deepwater project efficiently while contributing to the long-term development of offshore resources in Côte d’Ivoire. ” The final investment decision (FID) for the Baleine Phase 3 development was made in May

The EPC scope covers subsea trees, umbilical, manifolds, multiphase flowmeters and control systems, as well as installation, commissioning and life-of-field support. According to SLB, an integrated delivery model is designed to streamline execution and support the project’s fast-track development schedule

Home Fossil Energy COSL Drilling Europe’s 2010-built rig staying with Vår Energi into 2028 July 13, 2026, by Norway’s oil and gas player Vår Energi has prolonged a drilling assignment, which is being undertaken on the Norwegian Continental Shelf (NCS) with one of the semi-submersible rigs owned by COSL Drilling Europe, an offshore drilling contractor. COSL Pioneer; Source: COSL Drilling Europe Vår Energi has exercised its third option for the COSL Pioneer rig, extending the rig’s contract well into 2028

COSL Pioneer; Source: COSL Drilling Europe Vår Energi has exercised its third option for the COSL Pioneer rig, extending the rig’s contract well into 2028

Commenting on this, COSL Drilling Europe highlighted: “This contract extension reflects the value of consistent performance and supports our long-term growth ambitions

” The partnership will operate on a project-by-project basis, with team composition determined by scope, including the use of cross-trained crews to reduce the number of people offshore (POB) and lower overall exposure to risk

Home Subsea Aquaterra Energy and James Fisher team up to deliver simplified decommissioning July 13, 2026, by Aquaterra Energy and James Fisher and Sons have established a decommissioning partnership to offer operators a single, integrated route to plan and execute well abandonment and infrastructure removal programs more efficiently, with fewer interfaces and greater execution certainty. Aquaterra Energy/James Fisher Aquaterra Energy is leading front-end engineering and well access solutions, while James Fisher

“What operators are looking for now is delivery confidence, predictable execution, fewer interfaces and teams who already understand how to work together,” said Mark Stephen, Product Line Director – Decommissioning & CFE at James Fisher Energy