The contract services will commence in 2026. (Image source: Adobe Stock)

Valaris Limited has been awarded a two-year contract offshore West Africa for drillship VALARIS DS-10

The US$352mn contract is expected to commence late in the second quarter or in the third quarter 2026. The total contract value does not include the provision of additional services, but two unpriced options, each with a duration of one year.

More long-term contracts

President and chief executive officer, Anton Dibowitz, said, “This contract award is a testament to the safety and operational performance of VALARIS DS-10 and its crews, which have an excellent track record of successfully executing clients’ well programmes offshore West Africa. This contract increases our backlog by approximately US$350mn and supports our future earnings and cash flow, and we remain focused on securing additional attractive long-term contracts for our high-specification assets.” 

West Africa has seen enhanced rig activity, with Shelf Drilling and Borr Drilling also announcing contracts since late last year. 

Vitol has been one of the recent entrants to West Africa, acquiring interests worth approximately US$1.65bn. 

The refinery will have a capacity of 60000bopd. (Image source: Adobe Stock)

In a major step to commercialise Uganda's oil and gas resources, the Ministry of Energy and Mineral Development, Uganda National Oil Company and the joint venture partner, Alpha MBM Investments have signed an implementation agreement (IA) to kickstart the Uganda Refinery project 

This will include the designing, construction and operation of the 60,000 bopd-capacity refinery to be undertaken in Kabaale, Hoima. Construction is expected to span three years with UNOC and United Arab Emirates-based Alpha MBM as the project partners.

Overseen by the President of Uganda, Yoweri Kaguta Museveni, the signing was executed at the State House, in Entebbe.

"We are pleased to have a partner with financial strength, and a solid reputation. Work on the refinery will commence immediately," said Ruth Nankabirwa, the Minister of Energy and Mineral Development.

The refinery, which will be East Africa’s first major crude processing plant aims to reduce Uganda’s dependency on imported petroleum products and is expected to meet the local (Ugandan) and regional demand of petroleum (fuel) products.

Besides the refinery, the East African Crude Oil Company (EACOP) is also part of Uganda’s oil and gas commercialisation plan, which recently confirmed progress on project financing. 

George Morrison, CEO at Aquaterra Energy. (Image source: Aquaterra Energy)

Offshore engineering solutions provider, Aquaterra Energy, has entered a multi-million-dollar, multi-year contract with Intrepid Energy Limited to deliver a bespoke subsea well intervention equipment package for a project in Nigeria

Aquaterra Energy’s turnkey well access package will enable IEL to conduct intervention operations across multiple mature oil wells in the region, supporting enhanced reservoir production.

The contract includes the supply of a complete seabed-to-surface intervention system and package, spanning from the subsea tree to surface intervention equipment. Key components include Aquaterra Energy’s TRT tieback tooling, which provides production bore and annular access, a lightweight well pressure control system, and an ISO 13628-7 qualified open water intervention riser with an integrated tensioning system. In addition to equipment provision, Aquaterra Energy will also deliver ongoing offshore engineering support throughout the project.

The 7- 3/8” lightweight well access solution, has been specifically engineered for deployment from jack-ups and lift boats. This innovative approach offers a cost-effective and operationally efficient alternative to floating vessels, reducing intervention costs while maintaining high safety and performance standards.

Andrew McDowell, Delivery Director at Aquaterra Energy said, "Our expertise in offshore engineering allows us to develop tailored intervention solutions that address the operational challenges of subsea well access. This system has been engineered for efficiency, ease of deployment, and safety, helping IEL optimise intervention activities across Nigeria while reducing costs. By delivering a complete, integrated package, we are simplifying complex operations and enabling operators to maximise production potential.”

Engr Seun Alonge, CEO at Intrepid Energy Limited said, “Working with Aquaterra Energy marks a significant step forward for our intervention operations in Nigeria. Their specialised technology enhances our ability to execute intervention programmes efficiently, maximising performance across our assets. By combining Aquaterra’s technical expertise with our deep understanding of the local operating environment, we’re confident this collaboration will enhance production outcomes and create lasting value for our operations in the region.”

The project is set to support intervention operations over multiple years, with Aquaterra Energy providing ongoing technical expertise, with a dedicated team of engineers providing ongoing service support throughout the project.

George Morrison, CEO at Aquaterra Energy, "Delivering reliable and efficient well access solutions for shallow water subsea operations is central to how we support offshore operators. This collaboration with IEL reinforces our commitment to providing cutting-edge engineering solutions that enhance efficiency and reduce operational costs. With West Africa playing an important role in the global energy sector, we’re proud to continue supporting its offshore industry with our expertise and innovative technologies.”

Scatec is targetting to reach financial close over the next 12 months. (Image source: Scatec ASA)

Renewable energy solutions provider, Scatec ASA, has signed a 25-year US$-denominated corporate power purchase agreement (PPA) with Egypt Aluminium for a 1.1 GW Solar PV + 100 MW/200MWh BESS project in Egypt backed by a sovereign guarantee.

Egypt Aluminium exports approximately 60% of its production to Europe. This solar PV + BESS project will be instrumental for Egypt Aluminium’s ambition to decarbonise its aluminium production, and to meet EU’s Carbon Border Adjustment Mechanism (CBAM) requirements which will be introduced in 2026.

The key next steps for the project are to work with the relevant authorities to allocate land, finalise grid connection and secure financing, and Scatec targets to reach financial close and start construction within the next 12 months.

“This is another testament to Scatec’s position as one of the leading renewables companies in Egypt. It is a groundbreaking project as it is the first utility scale PPA in the country with an industrial offtaker. I would like to thank all parties involved for making this happen, especially our partners at Egypt Aluminium. Further, our team has shown great persistence and creativity in securing this agreement and bringing new solutions to the market,” said Scatec CEO Terje Pilskog.

The estimated total capital expenditure for the solar PV + BESS project is approximately USD 650 million which will be funded by approximately 80% non-recourse project debt, and the remainder by equity from Scatec and partners. Scatec owns 100% of the project but is targeting to reduce its long-term economic interest by inviting additional equity partners. Scatec will be the designated EPC service provider, with an EPC share of approximately 90% of total capex, as well as asset manager (AM) and operations and maintenance (O&M) service provider.