Aker BP has successfully started oil production from the Solveig Phase 2 development in the North Sea, delivered on schedule and within budget. The project adds approximately 39 million barrels of oil equivalent in recoverable resources and comprises three wells tied back to the Edvard Grieg platform. This marks the fifth Aker BP-operated project sanctioned in 2022 that has come on stream.

The global subsea burial services market is projected to grow from $1.17 billion in 2026 to $2.05 billion by 2032, with a 9.65% CAGR. Growth is driven by expanding offshore wind projects, interconnectors, and subsea pipeline infrastructure, alongside increasing regulatory compliance and asset protection requirements. Key technologies include jet trenching, mechanical trenching, and hybrid systems adapted to diverse seabed conditions.

The global remote operated vehicle (ROV) market is projected to grow from USD 2.05 billion in 2024 to USD 5.56 billion by 2034, driven by increasing underwater exploration, offshore infrastructure maintenance, and defense applications.

The downhole tools market is projected to grow from $6.1 billion in 2024 to $7.8 billion by 2029, driven by increased drilling activity and oil and gas discoveries. Key players in the market include SLB, Baker Hughes, Halliburton, Tenaris, and TechnipFMC.

The global market for Oil and Gas Separator is projected to reach US$6.3 Billion by 2030, driven by factors such as the increasing complexity of well fluids, focus on environmental sustainability, and technological advancements in separation technologies.

BP, a leading UK-based energy company, has announced plans to sell its onshore wind business in the United States as it refocuses on its solar partnership and other renewable energy sources. The move signals BP's shift from certain renewables despite previous efforts to diversify its energy portfolio.

Oceaneering International has secured multiple contracts in the UK North Sea region for decommissioning, inspection, subsea infrastructure preparation, and installation support services. The contracts will be executed by Oceaneering's UK North Sea hub in Aberdeen, Scotland, using the company's Island Frontier multiservice vessel.

Schlumberger has introduced a well integrity assessment solution to help advance carbon capture and storage projects. The new solution aims to quantify the risks associated with wells at prospective carbon storage sites, enabling developers to evaluate the long-term viability of such projects.

Equinor, a Norwegian energy company, has canceled its offshore wind projects in Spain, Portugal, and Vietnam due to rising costs from inflation, high interest rates, and supply chain delays. The company remains committed to its renewable energy goals but will adopt a more cautious approach to new investments.

The global subsea thermal insulation materials market is expected to grow from $308.9 million in 2023 to $452.9 million by 2033, driven by increased offshore exploration and production activities. Polyurethane and pipe-in-pipe applications are expected to dominate the market.

Liberty Energy Inc. is set to report second-quarter earnings on Jul 17. The company's costs are expected to have increased, hurting its bottom line, but revenues are likely to have improved due to strong demand in the frac industry.

TechnipFMC (FTI) and Sulzer develop subsea CO2 pumps for Petrobras, enhancing energy efficiency and reducing emissions in Brazilian oil fields.