NEO Energy intends to redeploy the FPSO at the Buchan field redevelopment in the central North Sea, near the United Kingdom.

These agreements mark a strategic move by Karoon to bolster its asset base and broaden its presence in the international oil and gas market.

The approval is for drilling two observation wells at the Statfjord satellites area, specifically related to the Statfjord North field.

The FPSO is expected to achieve an initial production rate of approximately 220,000 barrels per day over the first half of the next year as additional wells are brought online.

Norwegian offshore vessel operator Eidesvik Offshore has once again prolonged its collaboration with Wintershall Dea, securing an additional contract extension for its renowned platform supply vessel (PSV) Viking Princess.

The decision to sell these vessels aligns with the company's current restructuring agreement and the demands of its lenders. Notably, all three vessels are currently engaged in operations for Shell UK.

The deal, valued at around approximately £61 million, marks a significant milestone for Harland & Wolff, reinforcing its position as a preferred yard for complex and large-scale energy projects.

The contract's approval has triggered the commencement of the FEED activities, paving the way for the Whiptail development project.

The legal dispute arose when Gulf Island Shipyards sued Hornbeck Offshore in 2018, alleging wrongful termination of two shipyard construction contracts related to the final two vessels in Hornbeck's fifth offshore support vessel (OSV) newbuild program.

These vessels will be deployed at the Baleine field under a 15-year firm contract, with Phase 2 expected to start in the fourth quarter of 2024.