Ocean Energy Resources

GLOBAL NEWS SERVICE FOR THE FOSSIL AND RENEWABLE ENERGY COMMUNITIES

Milaha is strengthening its maritime position

General – Investment

Milaha, which is planning to modernise its fleet, particularly offshore vessels, has laid out plans to strengthen its presence in Kuwait and Iraq, deepen trade flows between Asia and the Middle East, explore new trade opportunities in East and North Africa, and selectively expand operations in Saudi Arabia and the UAE.

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Deep Value Driller decides not to finalize agreement with Saipem

General – Sale

Saipem’s planned acquisition of the drillship Deep Value Driller has been called off, as owner Deep Value Driller has now entered into a binding agreement to sell the 7th generation rig to Eldorado Drilling for $300 million.

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Seawind Asia secures grid connection agreements in Philippines

Wind Energy – Grid Connection

Seawind Asia has received official grid connection agreements for three offshore wind projects in the Philippines: Frontera Bay (450 MW), Guimaras Strait (600 MW), and Guimaras Strait 2 (600 MW).

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Novastar Energy secures contract for Poland’s Baltica 2 OWP

Wind Energy – Baltica 2

UK-registered Novastar Energy Holdings, a wholly owned subsidiary of UAE-based HEA Energy, has been awarded a vessel contract supporting the construction of the 1.5 GW Baltica 2 offshore wind farm in Poland.

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Vaalco takes 60% stake in 102-MMboe West Africa field

Fossil Energy – Stake

Vaalco Energy reported initial production of approximately 2,000 bopd from a new development well offshore Gabon and confirmed operatorship of a potentially material offshore project in Côte d’Ivoire.

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Tidewater announces all-cash acquisition of Wilson Sons UltraTug 

General – Acquisition

On 22 February 2026, Tidewater acquired Wilson Sons Ultratug and Atlantic Offshore Services in an all-cash deal valued at approximately $500 million, including the assumption of roughly $261 million in debt.

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Contract award for AF Offshore Decom

General – Decommissioning

AF Offshore Decom has been awarded a new contract by Heerema Marine Contractors (HMC) for the onshore reception, dismantling, and recycling of a production platform from the UK sector of the North Sea.

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Saipem awarded new offshore contract in Saudi Arabia

General – EPCI

Saipem has been awarded an additional offshore contract (Contract Release Purchase Order or CRPO) in Saudi Arabia under its existing Long-Term Agreement with Aramco.

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