Pharos Offshore Group announced the purchase of a 620hp UTV620 jet trencher on October 27, 2025 to enhance their subsea cable and pipeline burial services ahead of an active 2026 season. In addition, Jake Tompkins was appointed Chairman to mark an important leadership milestone in their growth strategy and further solidify Pharos' position within offshore wind, telecoms, oil & gas and other sectors.
Kongsberg announced in December 2025 its plan for demerger in order to spin off Kongsberg Maritime for listing in Q2 2026 and secured contracts for submarine combat and navigation systems for Germany and Norway, coastal defence for Denmark, propellers for Canadian destroyers, LARS for offshore vessels as well as propellers for LARS vessels - reflecting their strategic focus on defence growth amid global security needs.[62 words]
Kongsberg Defence & Aerospace and Denmark reached agreements that exceeded EUR 100 million to supply Naval Strike Missile Coastal Defence Systems to fortify Baltic and North Sea defenses, and an ORCCA combat system deal on German and Norwegian 212CD submarines, totalling NOK 3.5 billion in value. Furthermore, Kongsberg acquired Zone 5 Technologies of US in order to boost affordable missile production capabilities.
Global offshore oil and gas investment is projected to rise steadily between 2026-2029 after experiencing a dip in 2025, with deepwater rig demand gradually picking up after postponed projects resume. China's Bohai Oilfield set new production records while European operators surge North Sea activity.
December 2025 saw significant FPSO developments such as Drydocks World's completion of an EMEM conversion for Nigeria's Okwok field, Finder Energy's acquisition of Petrojarl I for Timor-Leste, production issues at Balder's Jotun FPSO and Petrobras P-69 production issues, alongside Petrobras postponing two units and Shell expanding stakes in Brazilian fields - events which highlighted sector resilience amid operational hurdles.[65 words]
AXYS has cemented its monitoring position in the offshore renewable energy sector with two new dual-LiDAR floating system deployments, servicing a wind farm in the Baltic Sea, and cooperative efforts driving widespread commercial uptake of floating LiDAR.
Reach Subsea has ordered two uncrewed surface vessels from Kongsberg Maritime following separate approvals for uncrewed operations and regulatory clearance for the commercial rollout of Reach Remote 1 and 2. These approvals are important milestones in the sustainable provision of offshore services, reducing emissions and increasing safety in the waters of Norway and Australia.
Kongsberg Defence & Aerospace announced key maritime defence deals in November-December 2025, including a NOK 3.5 billion combat system contract upgrade for German and Norwegian 212CD submarines and Denmark valued in excess of EUR 100 million, plus upgrades for German 212A submarines' navigation systems. All three deals bolster NATO allies capabilities for anti-submarine warfare in coastal approaches.
A drug-smuggling semi-submersible the size of a school bus was caught in the North Atlantic in late November 2025. Another similar self-propelled semi-submersible was intercepted 1,000 nautical miles off Lisbon by Portuguese forces in a European Union-funded operation. Both operations highlighted the nadir near the end of 2025 for narco-submarines operating internationally.
Equinor Energy AS was granted drilling permits by the Norwegian Offshore Directorate to drill wellbores 7220/7-5 and 35/11-32 S in production licences 532 and 090 HS respectively. This recognition came in light of the explorer’s work on the Norway continental shelf amid continued reporting of hydrocarbon discoveries and production.
Offshore construction activity over the month has seen wind cable installation progress in the US, new multi-purpose support vessel orders in Europe, and next generation construction support equipment contracts across Asia. Taken together, these suggest an industry tentatively increasing capacity and capability while effectively managing costs and meeting shifting project schedules.
Over the past month, offshore wind was driven by changing policy signals, auction design debates, and climate diplomacy. In Germany, industry groups called for tenders to be delayed to 2026 as the market adjusted to rising costs and an unsuccessful auction held in 2025; globally, at COP30, there was new analysis showing that existing national targets could still support a tripling of offshore capacity by 2030, even with notable slowdowns occurring within some nations (namely, the U.S.).
Subsea7 was awarded a contract for decommissioning services for Ithaca Energy’s Alba floating storage unit in the North Sea, representing continued growth within subsea services’ decommissioning segment. The contract was announced in early December 2025.
DEME Group of Belgium has bolstered its offshore energy profile with the delivery of the hybrid-powered Norse Wind installation vessel and order of an Offshore Construction Vessel for subsea cable work. Both investments will benefit DEME’s growing orderbook as well as expansion within global offshore wind projects.