Latest Offshore Energy News

Bhagwan Marine has completed its $130 million acquisition of Riverside Marine, enhancing its service range and recurring revenue streams through a mix of equity and debt financing.

SRJ Technologies’ subsidiary ACE has landed two advanced inspection contracts worth a combined £235k with a leading global energy supermajor, reinforcing its foothold in offshore asset integrity services.

Pancontinental Energy has won a crucial 12-month extension for its PEL 87 offshore Namibia exploration licence, enabling further seismic analysis and drilling preparations. This extension keeps the project on track as the company seeks a farmin partner to advance exploration.

Bhagwan Marine reports a sharp 67% drop in net profit for the half-year to December 2025, while announcing a transformative $130 million acquisition of Riverside Marine Holdings.

Bhagwan Marine Limited anticipates stable earnings and robust cash generation for the first half of FY26, underpinned by margin expansion and disciplined capital management.

RemSense Technologies has secured a follow-up contract with ExxonMobil to deliver advanced digital twin solutions at the Bass Strait facility, reinforcing its role in the energy sector’s digital transformation.

Finder Energy has acquired the Petrojarl I FPSO from Amplus Energy for US$15 million, aiming to fast-track its KTJ oil development project with a targeted final investment decision by mid-2026 and first oil by the end of 2027. This move is supported by a two-tranche institutional placement raising A$25 million at a 21.3% discount.

Bhagwan Marine has locked in a five-year, $75 million contract for its Coral Knight vessel with Jadestone Energy, reinforcing its foothold in Australia's offshore energy sector.

3D Energi has confirmed a promising gas-condensate find at the Essington-1 well using innovative Ora formation testing, marking the technology's Australian debut and setting the stage for further exploration in the Otway Basin.

MEC Resources has advanced its investment in Advent Energy and issued shares to directors, while its PEP 11 Joint Venture faces ongoing legal scrutiny ahead of a Federal Court hearing.

SRJ Technologies has landed a US$269,000 contract to supply its BoltEx flange integrity solution to a leading FPSO operator offshore Guyana, marking a strategic foothold in a key offshore energy market.

Triangle Energy and its joint venture partners have been awarded two offshore service contracts in the underexplored Sandakan Basin, Philippines, holding significant contingent gas and condensate resources. These contracts mark a strategic expansion into a promising region with multi-TCF exploration upside.