The offshore oil and gas updates October 2025 reveal a dynamic month for the global upstream industry. Rig mobilisations, contract conversions, hydrocarbon discoveries, and new carbon capture initiatives underline the sector’s balance between traditional drilling momentum and the energy transition. From Guyana and Namibia to the UK North Sea and Brazil, activity levels remain strong, reinforcing the offshore market’s central role in global energy supply.
Rig Contracts and Mobilisations
Vantage Drilling – Platinum Explorer Contract Secured
Vantage Drilling International has successfully converted its Conditional Letter of Award (CLOA) for the Platinum Explorer drillship into a firm contract. This conversion strengthens the company’s backlog and confirms rising demand for ultra-deepwater rigs. The Platinum Explorer is capable of drilling in water depths up to 3,000 meters, making it a critical asset for upcoming deepwater projects.
Talos Energy – Preparing for Brutus 2026
Talos Energy continues groundwork for its Brutus campaign planned for 2026. While specific rig assignments have not yet been disclosed, early planning signals the company’s commitment to boosting its Gulf of Mexico portfolio.
Shelf Drilling Fortress – Mobilised to Teal West, UK North Sea
The Shelf Drilling Fortress jackup has been mobilised to Teal West (Block 21/24d) in the UK North Sea. Operator Hibiscus Petroleum expects the well to be tied back to the Anasuria FPSO, with first oil anticipated by mid-2026. This marks one of the few development wells in the UKCS for 2025, adding much-needed momentum to a mature basin.
Stena Carron – Mobilising to ExxonMobil’s Ranger Prospect
The Stena Carron drillship is mobilising for ExxonMobil’s Ranger prospect offshore Guyana, reinforcing the region’s status as one of the world’s hottest offshore frontiers. ExxonMobil has already achieved significant success in the Stabroek Block, and Ranger could further boost Guyana’s resource base.
Stena Don – Moving Inshore Norway
The Stena Don semisubmersible has shifted inshore Norway, most likely for project transition or maintenance work. Rig relocations like these highlight fleet redeployment strategies as operators juggle multiple campaigns.
Ocean Courage Renamed Noble Courage
The Ocean Courage has been formally rebranded as the Noble Courage, part of Noble Corporation’s ongoing fleet standardisation. Rebrandings often align with contract renewals, helping operators present a unified brand identity across global markets.
Exploration and Discoveries
Petrobras – Hydrocarbon Indications in Aram Block
Petrobras has reported indications of hydrocarbons in Brazil’s Aram block. While appraisal is still required, this discovery adds to Brazil’s exploration momentum, particularly in pre-salt acreage known for high productivity.
Deepsea Mira – Drilling BW Energy Appraisal Well, Namibia
The Deepsea Mira drillship has commenced operations for BW Energy offshore Namibia, drilling an appraisal well following the country’s string of high-profile discoveries in the Orange Basin. Namibia is fast emerging as a new offshore hotspot, drawing strong international interest.
Occidental – Spudding the Bandit Prospect, US Gulf
Occidental Petroleum has spudded the Bandit prospect in the US Gulf of Mexico. The campaign reflects renewed drilling appetite in the Gulf, particularly for high-impact prospects in established basins.
Chevron & Westlawn – Acquiring Offshore Peru Blocks
In South America, Chevron and Westlawn have jointly acquired interests in three offshore blocks in Peru, underscoring rising international confidence in Peru’s underexplored offshore acreage. This move could attract further upstream investment into the region.
Corporate Moves and MoUs
Dragon Oil – MoU with EGPC
Dragon Oil has signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC). This partnership aims to strengthen collaboration in Egypt’s offshore sector, positioning Dragon Oil as a strategic player in the Eastern Mediterranean.
Hanwha Drilling – Tidal Action Maiden Charter
Hanwha Drilling’s drillship Tidal Action has officially commenced its maiden charter, marking the company’s operational debut in the global offshore market. As the first campaign for Hanwha’s offshore fleet, this project signals new competition in the high-spec drillship segment.
Amplitude Energy – Drilling Plans Update
Amplitude Energy has provided an update on its offshore drilling plans. While specific project details remain limited, the company continues to position itself for growth, balancing upstream activities with energy transition strategies.
Policy and Regulatory Updates
Valaris DPS-1 – Drilling Schedule Update
The Valaris DPS-1 semisubmersible has released its updated drilling schedule for upcoming Asia-Pacific campaigns. Clear scheduling ensures operator visibility, vital in a tight rig market where utilisation rates remain high.
Brazil’s ANP – 275 New Blocks Approved
Brazil’s regulator, the ANP, has approved the inclusion of 275 new offshore blocks in its Permanent Concession Offer (PCO). This expansion significantly increases exploration opportunities across Brazil’s offshore basins, reinforcing its global attractiveness for investment.
PTTEP – FID on Arthit Gas Field CCS
PTTEP has taken a Final Investment Decision (FID) on its Arthit gas field CCS project in Southeast Asia. By integrating carbon capture and storage (CCS), PTTEP demonstrates a commitment to aligning offshore gas development with low-carbon strategies, a model that could be replicated across other regions.
Conclusion
The offshore oil and gas updates October 2025 reflect a global industry that remains highly active. From rig contracts in the UK and Guyana, to hydrocarbon finds in Brazil and Namibia, and new block approvals in Brazil, the sector continues to evolve.
At the same time, moves like PTTEP’s CCS FID and Dragon Oil’s MoU in Egypt highlight how operators are balancing exploration with long-term sustainability. With Noble, Shelf Drilling, Stena, Petrobras, PTTEP, Chevron, and Hanwha all making headlines, October confirms offshore’s critical role in shaping the world’s energy future.
