MISC reports steady growth in the global FPSO market amid increased offshore activity and new contracts. In the second quarter of 2026, operating profit rose by 56.1%, while revenue increased by 76.1%.
Three Seatrium production sites in Brazil have given the company a competitive edge in securing Petrobras contracts for FPSO construction, despite changes in procurement models. Seatrium is adapting to new market conditions by collaborating with partners and focusing on high-quality project execution and sustainable financial results.
The Searah joint venture has begun construction of the topsides for the FPSO Bahtera Haluan Lestari, a key component of Indonesia’s large-scale Kutei North Hub gas project. The $11.8 billion project aims to advance the country’s energy sector, create new jobs, and introduce innovative technologies. It also has the potential to position Searah as one of the leading players in Southeast Asia’s oil and gas industry.
Talos Energy is acquiring a 50% stake in an oil project on the Mexican coast from Repsol for $50 million, gaining participation in a block with reserves exceeding 200 million barrels. The deal is subject to regulatory approval.
South Korean company Hanwha Ocean is implementing a standardization strategy for floating production storage and offloading units (FPSOs) to increase efficiency and shorten project delivery times. The company is strengthening its position in the global market, reporting significant profit growth and participating in new offshore projects.
Equinor and its partners have discovered a new oil field near Johan Castberg in the Barents Sea, with reserves estimated at up to 10.5 million barrels. They are considering connecting it to the existing infrastructure.
Energean has increased the liquid processing capacity at its FPSO in Israel, despite significant delays caused by regional conflicts. The new production line has boosted output from 18,000 to 31,000 barrels per day.
A new floating production, storage, and offloading unit (FPSO) is planned to be installed at Malaysia’s Kikeh field, replacing the outdated platform. The project is being carried out by a consortium from India and Malaysia, with commissioning expected after 2028.