E&P Highlights: June 16, 2025

From several contracts awarded around the world to a new customer advisory board, below is a compilation of the latest headlines in the E&P space.

Contracts and company news

Baker Hughes Acquires Continental Disc for $540MM

Baker Hughes has agreed to acquire Continental Disc Corp., a provider of safety-critical pressure management solutions, from investment partnerships managed by Tinicum Inc. in an all-cash transaction for approximately $540 million. It’s the third major transaction announced by the company this month.

CDC designs and manufactures rupture discs, rupture disc holders, burst disc indicators, pressure- and vacuum-relief valves, flame and detonation arrestors and related safety products. They are deployed across a broad range of industries including oil and gas, pharmaceutical, chemical and aerospace. 

“We are excited to enhance our industrial portfolio and expand our addressable market with the addition of CDC’s well-established critical pressure management solutions,” Baker Hughes Chairman and CEO Lorenzo Simonelli said. The CDC line is highly complementary to Baker Hughes’ existing offerings, the company said.

Earlier this month, Baker Hughes agreed to sell a controlling interest in its surface pressure control business to Cactus Inc. for $344.5 million, then agreed to sell its precision sensors and instrumentation product line to industrial products company Crane Co. for about $1.15 billion.

“Together with the recently announced SPC and PSI transactions, this acquisition sets the blueprint for our portfolio optimization strategy – focused on driving higher returns and creating long-term value for our shareholders,” Simonelli said.  

The acquisition will be funded with cash on hand and is expected to close in the fourth quarter of 2025, subject to customary closing conditions and required regulatory approvals.

Exxon Mobil Named Most Admired Explorer in WoodMac Survey

Exxon Mobil has clinched the top spot as the upstream industry's most admired explorer in Wood Mackenzie's annual Exploration Survey for 2025.

“ExxonMobil's win as the most-admired explorer for 2025 is well-deserved,” said Andrew Latham at Wood Mackenzie. “Based on its decade-long exploration and development success in Guyana in particular, ExxonMobil has created almost US$30 billion in value and already surpassed 700,000 barrels per day of new oil production. The company has set a new benchmark in opening up a deepwater frontier at pace.”

Other honors announced at Wood Mackenzie's Exploration Summit in Bordeaux, France, were:

• Discovery of the Year: The Mopane field in deepwater Namibia operated by Galp Energia, with partners Custos Investments and Namcor. It holds in-place resources estimated at 10 Bboe;
• E&P Explorer of the Year: Murphy Oil, after its Hai Su Vang (2024) and Lac Da Hong (2025) oil discoveries offshore Vietnam; and
• NOC Explorer of the Year: CNOOC, which found over 7 Bboe of oil over the past decade, ranked second only to Exxon Mobil.

Wood JV Wins New Major EPC Contract in Brunei

John Wood Group and its joint venture (JV) partner, Tendrill International, have secured a five-year contract with Brunei Shell Petroleum for brownfield engineering, procurement and construction (EPC) services. 

The TendrillWood JV will deliver integrated, end-to-end brownfield EPC projects, from conceptual design through commissioning and startup, across BSP offshore and onshore assets. The venture, established in 2023, provides EPC services in Brunei. 

The five-year contract includes a two-year extension option.

Repsol Awards Halliburton Five-Year Contract in UK North Sea

Repsol Resources UK awarded Halliburton a five-year contract to support the full well life cycle on their platform assets in the U.K. North Sea.

Halliburton will provide subsurface technology, drilling and completion services and digital solutions for major new developments. The company will deliver a rig-less intervention framework that enables Repsol to optimize well construction, production and intervention to maximize plugging and abandonment (P&A) operations.

This collaboration between Halliburton and Repsol Resources UK marks a strategic milestone. The efforts to maximize the remaining potential of the U.K. North Sea align with our focus to provide safe and reliable P&A operations.

“Halliburton’s services will support Repsol Resources U.K.’s decommissioning efforts in the region,” said Timothy Horsfall, vice president, Halliburton Europe. “The two companies aim to establish an industry standard for innovation and economic growth.” 

Repsol U.K., based in Aberdeen, Scotland, is a North Sea operator with interests in 43 fields, of which they operate 36, on the U.K. Continental Shelf with 11 offshore installations and two onshore terminals. 

Asco Wins North Sea Services Contract

Asco has secured a five-year contract worth 150 million pounds (US$204 million) with a major North Sea energy operator. Asco said it’s one of the largest and most comprehensive logistics contracts in the company's recent history.

The contract begins July 1. The scope encompasses ASCO’s full suite of integrated logistics services, including quayside operations, warehousing, materials management, marine gas oil, environmental services, aviation, customs, freight forwarding and ships agency.

ABB Wins Electrical and Automation Contract for Petrobras FPSOs

ABB has been awarded a large order by Seatrium, a global provider of marine engineering solutions based in Singapore, for the supply of electrical equipment and automation solutions on a new generation of floating production storage and offloading (FPSO) vessels for operator Petrobras. The two vessels—P-84 and P-85—will be deployed in the Atapu and Sépia fields, approximately 200 km off the coast of Rio de Janeiro in Brazil.

ABB will design and construct the topside and hullside electrical equipment, electrical substation automation and eHouses for both FPSOs. In a first for Petrobras, the P-84 and P-85 vessels will also feature an all-electric concept, which focuses on efficient power generation and increased energy efficiency, by using electrically driven compressors and motors to produce 165 megawatts of power generation capacity.

Constructed by ABB Singapore, the FPSO topside systems will be installed in an ABB eHouse—a prefabricated transportable substation designed to house medium-voltage and low-voltage switchgear, critical power equipment and automation cabinets. 

Construction of the P-84 and P-85 FPSOs has been ongoing since 2024, with delivery of ABB’s eHouses expected by 2027. Each vessel will have a production capacity of 225,000 bbl/d of oil.

EZ Ops Announces Customer Advisory Board

EZ Ops, a division of Detechtion Technologies and a leading provider of mobile oilfield management solutions, announced the creation of a customer advisory board to further advance mobile solutions and digitalization in the oilfield.

The board members will oversee the EZ Ops product roadmap while addressing the challenges of digitizing oilfield functions, said Tracy Gray, strategic business director for mobile oilfield products and executive sponsor of the board.

EZ Ops provides a single, mobile platform for core oilfield operational functions that field technicians can use. EZ Ops also automates data trending, reporting and validation.

The board members are: Kendell Esau, Tourmaline Oil; Emily Dippold, Highland Field Services; Adam Lonseth, Strathcona Resources; Justin Koonce, Devon Energy; Miranda Verney, Shell Canada; Tracy Kisell, Parallax; Rurik Tullio, Tourmaline Oil; Dev Rathore, Axip Energy Services; Filip Prcic, ARC Resources; Vittorio Spoldi, Shell Canada Ltd.; and Steve Gonwick, Pacific Canbriam. They are expected to serve one year.

FourPhase Secures Contract with Shell in Trinidad & Tobago

FourPhase, a solids and production performance specialist for the oil and gas sector, announced a new master service agreement with Shell Trinidad and Tobago. The agreement involves sand management and production optimization on Shell's topside offshore oil and gas platforms in the Caribbean.

Since 2019, FourPhase has completed several operations in the Americas and supported multiple coiled tubing clean-out campaigns in the Caribbean. FourPhase said the demand for solids management services is growing in the region because of sand-related production losses.

FourPhase, based in Bergen, Norway, has offices in Houston, Kuala Lumpur, Malaysia and Aberdeen, Scotland.