Petrobras and Petróleos Mexicanos (PEMEX) signed a two-year memorandum of understanding to evaluate potential joint work across hydrocarbon exploration and production and industrial processes. The scope includes mature-field revitalization, seismic reprocessing and opportunities in deepwater and ultra-deepwater areas, including the Gulf of Mexico. The memorandum can be renewed but does not commit either company to invest or establish a company, consortium or joint venture; any projects will require separate agreements, feasibility work and approvals.
Equinor said its Norwegian operations and associated supply chain generated NOK 142 billion of value creation and supported 82,000 full-time man-years in 2025. Procurement reached NOK 147.6 billion, including NOK 140.5 billion awarded to Norwegian suppliers, with more than 1,900 domestic companies delivering goods and services. The article illustrates the Johan Castberg FPSO but reports no new milestone for the unit.
Brazil’s Búzios field produced a record average of 1.1 million barrels of oil per day on June 23, 2026, exceeding the one-million-bpd level reached in October 2025. Petrobras said rising output from the P-78 and P-79 FPSOs and the connection of additional wells are supporting the increase. Eight FPSOs are operating at Búzios, while P-80, P-82 and P-83 are under construction and the Búzios 12 unit is in tendering.
Equinor and the Wisting licensees have submitted a proposed environmental-impact-assessment programme for a 16-week public consultation. The partnership has selected an FPSO-based development approach, while final concept selection is targeted for late 2026 and a possible final investment decision for late 2027. The project remains subject to further commercial and technical improvement, and a potential carbon-capture solution is still under assessment.
Shape Digital, a MODEC spin-off, has entered a strategic collaboration with Halliburton to combine Halliburton Landmark’s Digital Field Solver with Shape Digital’s Lighthouse, Aura and Reef applications. The integrated offering will connect reservoir, well and production-network models with surface intelligence covering equipment reliability, energy efficiency, safety and asset integrity. MODEC links the initiative to its wider use of predictive maintenance, AI-enabled digital twins and digital barrier management in asset operations.
SBM Offshore has signed $465 million of project financing for the newbuild FSO Chalchi. Funding from international banks and institutional investors, with partial insurance from China Export & Credit Insurance Corporation, will be drawn during construction and become non-recourse after operations begin. The Suezmax-based unit is intended for the Trion field offshore Mexico under 20-year lease-and-operate contracts with Woodside Energy through its Mexican affiliate.
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.
