Reassess APAC offshore sourcing after Malaysian CCS contract award

The company’s four-point mooring geotechnical vessel Keyfield Itqan will be the primary vessel used for the execution, including an option for a newly commissioned DP2 vessel

HELMS shall provide offshore drilling and sampling, downhole CPTu testing, laboratory testing, pile capacity and jack-up assessments, drivability analysis, and geotechnical reporting to support engineering design and project execution. The company’s four-point mooring geotechnical vessel Keyfield Itqan will be the primary vessel used for the execution, including an option for a newly commissioned DP2 vessel

Home Subsea Local company to carry out soil investigations for Malaysian CCS developments July 30, 2026, by Malaysian offshore soil investigation and geotechnical engineering services company Helms Geomarine has been selected to support Petronas’ carbon capture and storage (CCS) developments in Malaysia. The contract, announced at the end of June, was awarded by PETRONAS CCS Solutions (PCCSS) for an initial period of three years, with an option to extend for a further two years

Home Fossil Energy FPSO construction starts in China for Angola’s ultra-deepwater development July 30, 2026, by Construction has started in China on the floating production, storage and offloading (FPSO) topside destined for an ultra-deepwater development in Angola being developed by Azule Energy, a joint venture between Italy’s Eni and the UK’s BP

The concept consists of 17 wells connected to a new FPSO vessel with a nameplate capacity of 95,000 barrels of oil per day and a gas export capacity of 70 million standard cubic feet of gas per day, which will be delivered to Angola LNG (ALNG) plant via a new gas export line that will be tied-in to the existing Block 31 gas export network. Saipem secured a $1 billion contract for the project entailing the engineering, fabrication, transportation and installation of approximately 180 kilometers of rigid pipelin

The first steel cutting ceremony for the Greater PAJ FPSO topside process modules was held at Haiyang CIMC Raffles’ Haiyang yard in China, marking the start of the topside construction phase. Source: Azule Energy via LinkedIn This comes one month after the project’s final investment decision (FID)

The price of Brent crude oil began the quarter above $100/b, as disruptions to international crude oil flows through the Strait of Hormuz reduced access to crude oil for much of the world and led many countries in the Middle East to shut in crude oil production. Uncertainty around reopening the Strait of Hormuz to shipping traffic contributed to highly volatile prices in April and May, with an average daily price swing of $4/b in the Brent crude oil price, compared with $1/b in the same months in 2025

S. distillate and jet fuel exports reached record highs in the second quarter as disruptions to supplies through the Strait of Hormuz also tightened global refined product markets

From May 18 to June 17, negotiated ceasefires and growing market anticipation for the resumption of shipping traffic through the Strait of Hormuz led the Brent crude oil price to decline by an average of more than $1/b per day (d). On June 17, the United States and Iran signed a Memorandum of Understanding (MOU) that, among other things, sought to resume traffic through the Strait of Hormuz