Project analysis, contract awards and market movements across the FPSO and offshore energy sectors, researched by the Intelatus team.
Yinson Production has opened an office in Shanghai to strengthen coordination with Chinese shipyards, fabricators, suppliers and technology providers supporting its global FPSO and FSO portfolio. The company said the presence would improve project execution and client responsiveness as its offshore developments increase in scale and complexity.
DOF Group has secured firm contracts covering a combined 150 days for two AHTS vessels in the CARICOM region, with associated ROV services. The company values the combined awards at between $15 million and $25 million and expects the vessels to begin transiting to the region shortly.
Boskalis and Van Oord have secured an approximately €500 million contract to deepen the fairway and harbor basin at Sweden’s Port of Luleå. The equally shared work is scheduled to begin in spring 2027 and will involve dredging about 14 million cubic meters before completion in August 2030.
Equinor and its partners have taken a final investment decision for the Greater PAJ offshore oil development in Angola, while the company awarded contracts for an initial wave of Norwegian continental shelf tie-back projects. Second-quarter equity production rose 3% to 2.165 million boe per day, supporting adjusted operating income of $11.48 billion.
Repsol reported first-half 2026 net income of €2.201 billion and adjusted net income of €2.711 billion. Upstream production reached 558,000 boe/d in the second quarter, supported by Pikka's May production start in Alaska and progress on the Raia gas project in Brazil's Campos basin. Repsol also disclosed three agreements with Venezuela and PDVSA covering Cardón IV, Petroquiriquire and the Horcón area, alongside awards for two exploration blocks in Libya. The release does not specify Raia's production-system design or identify associated floating units, vessels or offshore contractors.
Santos produced 23.1 million boe in the second quarter as Barossa reached 97% of planned rates and Pikka Phase 1 began contributing about 23,000 barrels per day. The company also advanced two Papua New Guinea brownfield investments and narrowed its 2026 production guidance to 99 million-105 million boe.
PTTEP reported first-half 2026 net income of THB39.03 billion on higher sales volumes and selling prices, while maintaining Thai gas output above contracted levels. The company also completed a wellhead platform reuse initiative and plans to begin installing nine retired jackets as artificial reefs in the fourth quarter.
BW Offshore has signed a FEED agreement with Equinor for the Bay du Nord FPSO offshore Newfoundland and Labrador. The work is scheduled to continue through the end of 2026, supporting design maturation, execution planning and commercial alignment ahead of a potential final investment decision in 2027.
PTTEP has taken a final investment decision on the Sirung and Chenda fields in Malaysia’s offshore SK405B project, targeting first production in 2028 and output of 15,000 barrels per day. The company also raised Gulf of Thailand gas production to about 2,720 MMscf/d during the first quarter of 2026.
MODEC reported first-quarter 2026 revenue of $1.08 billion, up 23% year over year, and net income of $99 million. The company said construction progressed on the Hammerhead, Gato do Mato, Raia and Uaru FPSO projects, while operating performance across its existing fleet remained steady. Total backlog stood at $25.9 billion, including $5.3 billion of EPCI backlog, $11.9 billion of O&M backlog and $8.7 billion of charter backlog.
