offshore

Among the awards are contracts for four currently idle deepwater rigs.

The Nasr-115 expansion project, within ADNOC’s larger Ghasha concession, is part of a development aimed at increasing capacity to 115,000 BOPD by 2027.

Malampaya East discovery is estimated to hold 98 Bcf of gas and may help offset declines at the country’s only producing gas field.

Murphy Oil’s Hai Su Vang (Golden Sea Lion) appraisal well reinforces the commerciality of the 2025 discovery.

Engineering, procurement, construction, and installation awards made at the end of 2025 are expanding Saipem’s role in Turkey’s two largest offshore gas fields, plus Saudi Arabia’s Berri, Abu Safah, and Marjan oil fields and Qatar’s North Field gas giant in the Persian Gulf.

The discovery in the Kutei Basin offshore Indonesia is being considered for fast-track development.

The project in the US Gulf is expected to add about 15,000 BOEPD to the deepwater Atlantis project at peak production.

First oil is expected from Phase 1 of the project in 2028, with up to four more phases planned.

Preliminary estimates indicated recoverables of between 30 million and 110 million BOE at the discoveries, which Equinor called its largest of the year.

The decision keeps the effective tax rate on upstream projects at 78%, prompting new warnings that investments will continue to dwindle in the UK Continental Shelf.