Ten big consolidation moves across rig, oil & gas, and shipping spheres

As the global consolidation momentum builds against the backdrop of ever-changing and challenging geopolitical conditions and energy realms, many companies engaged in the offshore drilling, subsea, hydrocarbon exploration and production (E&P), and maritime arenas are working to strengthen their place in the offshore industry’s pyramid. Offshore Energy has curated a list of ten developments that encompass some of the most interesting market consolidation plays that occurred in 2025.

The consolidation quest for longevity spells, which was present in 2024, continued in 2025 to enable companies to ensure efficiency enhancements and establish combined entities of scale for the long haul. This is illustrated by Chevron, which wrapped up its acquisition of Hess Corporation.

Highlights reel of top UK oil & gas consolidation plays

1. The $53 billion all-stock deal enabled the U.S. player to become the new partner in Guyana’s Stabroek block, joining ExxonMobil and CNOOC. The Hess acquisition is Chevron’s third upstream deal since 2020, following Noble Energy in 2020, REG in 2022, and