Global Offshore Oil & Gas Highlights – July 2025 Edition

The offshore oil and gas sector continues to bustle with activity across West Africa, South America, Southeast Asia, and Northern Europe. Here’s a quick roundup of the top offshore rig movements, exploration updates, and contract wins from late July 2025:

West Africa & Brazil: Contracts & Advancements

• Murphy Oil has awarded Deepwater Skyros a drilling assignment in Côte d’Ivoire, restarting exploration momentum in the region.
• Valaris DS‑9 started mobilizing back to Angola, setting up for another offshore drilling cycle.
• In Nigeria, Dolphin Drilling won the right to pursue an arbitration award against GHL—clearing a path for potential financial recovery and operations restart.
• A 12-month licence extension was approved for PEL‑79 offshore Namibia, sustaining forward-looking exploration.

At the same time:

• Petrobras extended the charter of Deepwater Mykonos, strengthening its Brazilian deepwater presence.
• The operator also spudded an exploration well at the Agua-Marin block, seeking new offshore hydrocarbon horizons.

Asia-Pacific: Awards & Mobilization

• EnQuest secured a Production Sharing Agreement (PSA) for Block C offshore Brunei, targeting development of the gas‑condensate Merpati, Meragi, and Juragan fields. Expected FID by 2027, first production by 2029.World Oil+2

Northern Europe Ventures & Moves

• The COSLInnovator drillship is on course for Equinor’s Fram South prospect in the Norwegian North Sea, kicking off another round of Arctic exploration.
• Valaris 92 has arrived inshore at Dundee, Scotland, presumably transitioning between projects or undergoing maintenance.
• Noble Developer is confirmed on location for Petronas’ Kiskadee prospect, part of the growing Guyana-Suriname basin narrative.

Europe Discovery Spotlight: Poland’s Baltic Breakthrough

• Central European Petroleum (CEP) announced the largest conventional hydrocarbon discovery in Poland’s history: the Wolin East 1 (WE1) well. Drilled in just 9.5 m water depth, it penetrated to 2,715 m and revealed a 62 m hydrocarbon column in the Main Dolomite.
• Estimated recoverable resources:
• 200 MMboe (oil, gas, condensate)
• Total license potential: over 400 MMboe including deeper Rotliegend zones.

What These Moves Mean

West Africa & Brazil show a mix of legal tailwinds and continuing investment—suggesting resilient offshore play despite shifting oil prices.

Europe and Southeast Asia benefit from new long‑term PSAs and exploration momentum, indicating confidence from majors and independents.

The CEP discovery in Poland stands out as a European-scale event, reshaping narratives about domestic energy independence and future offshore exploration corridors.

Checkout Below Drilling Rig Systems

Drilling Rig Systems Explained: Power, Hoisting, Rotating & Circulation in Detail