This extension marks a continued collaboration that has been in place since the initiation of the agreement in 1998.

The pause means ships cannot use the Suez Canal, necessitating longer voyages around Africa, leading to increased costs, delays, and heightened demand for vessels.

The decision, announced on December 13, 2023, follows a series of recent successes and contracts secured by DOF Group across various regions.

Under this long-term collaboration, Baker Hughes will deploy its state-of-the-art Aptara subsea production systems to support Chevron Australia's upcoming offshore ventures.

This collaboration involves utilizing TotalEnergies' Airborne Ultralight Spectrometer for Environmental Applications (AUSEA) technology, a drone-mounted gas analyzer.

This research center focuses on enhancing the security of submarine infrastructure in the North and Baltic Seas by conducting experiments, testing, and developing innovative techniques.

The contract, granted by OceanInstaller on behalf of Vår Energi, involves the first phase of engineering, planning, design, fabrication, and commissioning of a new diver launch and recovery system.

The vessels are scheduled for delivery by the end of Q1 2024.

The plan outlines the replacement of a failed flowline and the connection of two new wells to the Otway Gas Plant, along with the recovery of the failed flowline for proper disposal.

The acquisition is expected to strengthen Ashtead's product and service offering in the oil and gas and offshore wind markets.