MODEC said FPSO Cidade de Niterói MV18 has arrived at a ship recycling facility in Denmark after completing demobilization from the Marlim Leste field offshore Brazil. The unit departed Brazil on May 8, 2026, following the expiry of its charter and O&M services. MODEC had supported the Petrobras-contracted FPSO for approximately 17 years after first oil in February 2009, during which the vessel processed approximately 159 million barrels.
Equinor and Vår Energi have agreed an asset swap covering the Peon discovery and interests in the Troll-Fram and Ringvei Vest areas. Equinor will transfer 32.5% of its Peon interest and the operatorship to Vår Energi, while receiving a 5% Fram interest and Vår Energi’s positions in Grosbeak, Mulder and Grønngylt. Peon is planned as a tie-back to Gjøa, but completion of the transaction remains subject to customary approvals.
BW Group and BW Offshore have appointed former BW Water chief Matthew White as CEO of BW Elara, their equally owned floating desalination joint venture. The appointment coincides with completion of BW Renewables’ sale of BW Water to Industrie De Nora and signals the BW companies’ continued interest in floating water infrastructure.
MODEC reported that the forward section of FPSO Gato do Mato’s hull has been completed at Sumitomo Heavy Industries’ Yokosuka shipyard and dispatched from Japan to China. The section will be joined with the aft hull section under construction there. The 120,000-barrel-per-day FPSO is the first project to use MODEC’s Next Generation Hull design and is intended for the Shell-operated Orca Field offshore Brazil.
Equinor has entered into a letter of intent with Transocean covering the use of three Cat D semisubmersible rigs on the Norwegian continental shelf. The approximately USD 1 billion arrangement covers Transocean Enabler for three years and Transocean Encourage and Transocean Endurance for two years each. Mobilisation is included, while integrated drilling services are optional and excluded from the stated day rate of below USD 400,000. Specific drilling programs and fields have not yet been allocated.
Equinor ASA completed a share capital reduction on 2 July 2026 after the creditor notice period expired and the action was registered with the Norwegian Register of Business Enterprises. The company cancelled and redeemed 166,058,472 shares, reducing registered share capital from approximately NOK 6.39 billion to NOK 5.98 billion.
Equinor has exercised two options extending its agreement with CHC Helikopter Service through 2030. The NOK 1.7 billion arrangement covers personnel transport and search-and-rescue capacity in Central Norway, including services from Kristiansund and Brønnøysund and a dedicated SAR helicopter at the Heidrun installation.
Equinor has agreed to acquire bp’s interest in the Bay du Nord offshore development, which would increase Equinor’s ownership to 100%. The Canadian project is in FEED and uses an FPSO and subsea tieback development concept. Equinor is targeting FID in early 2027, subject to market, regulatory and internal approvals, and intends to consider bringing new partners into the project.
Equinor, acting on behalf of its partners, has awarded contracts totaling approximately NOK 6 billion for the TWIN, Omega Sør, Tyrihans Nord and Brime subsea developments. TechnipFMC, OneSubsea, Ocean Installer, NOV and Tenaris received scopes covering subsea production systems, umbilicals, pipelines and marine operations. Only TWIN has so far been sanctioned; the other projects remain subject to partnership and regulatory decision processes.
Equinor's serious incident frequency improved slightly to 0.25 per million hours worked at the end of the second quarter of 2026, while its 12-month total recordable injury frequency rose to 2.8. Five oil and gas leaks were registered over the preceding 12 months, down from nine reported at the end of the first quarter. The company recorded no serious well-control incidents or incidents with major accident potential during the quarter.
