Weatherford Wins Major Offshore Contract with TotalEnergies in Denmark

HOUSTON, TX – February 12, 2026

Energy services giant Weatherford International plc has secured a significant multi-year contract from TotalEnergies to support offshore operations in Denmark, a move that reinforces the strategic partnership between the two companies and highlights the ongoing importance of advanced technology in Europe's mature energy basins.

The agreement, announced today, tasks Weatherford with delivering a comprehensive suite of “Integrated Completions” products and services. This deal solidifies the company's position in the highly competitive North Sea market and underscores the trust placed in its technical capabilities by one of the world's largest energy producers.

A Strategic Win in a Demanding Environment

The contract centers on Weatherford's ability to provide integrated solutions for well completions—the critical final stage of well construction that prepares it for production. In a mature “brownfield” region like the Danish North Sea, where operators work to maximize output from existing fields, an integrated approach is paramount. By managing the entire process from planning and design to the deployment of downhole tools and digital monitoring, a single provider like Weatherford can streamline complex operations, enhance safety, and boost production efficiency.

This award is a significant victory for Weatherford, which competes with other major service providers like Schlumberger, Halliburton, and Baker Hughes for such high-value, long-term contracts. The company's success in this bid speaks to its specialized expertise in the completions segment.

In the official announcement, Girish Saligram, Weatherford’s President and Chief Executive Officer, commented on the strategic importance of the deal. “We are proud to be selected by TotalEnergies for this important multi-year contract," Saligram stated. "This award is a testament to the strength and breadth of our completions portfolio, the consistency of our execution, and the trust we’ve built through close collaboration with our customers. It also reflects the dedication of our teams, whose technical expertise and focus on delivery continue to differentiate Weatherford in demanding brownfield environments.”

The emphasis on a "long-standing relationship" suggests that a history of successful collaboration and proven performance was a key factor in TotalEnergies' decision, reinforcing the value of established trust in the multi-billion dollar energy services industry.

Powering Denmark's Critical Energy Hub

The new contract will see Weatherford's technology and personnel play a crucial role in supporting TotalEnergies' extensive operations in Denmark. The French energy major is the leading operator of the Danish Underground Consortium (DUC), a partnership responsible for the majority of the country's natural gas production from key fields like Dan, Halfdan, and the recently redeveloped Tyra.

The timing of the contract is particularly noteworthy. In October 2025, TotalEnergies successfully completed the monumental redevelopment of the Tyra field, Denmark's largest natural gas field. The DKK 27-billion (approx. $3.9 billion USD) project was one of the most complex undertakings in the North Sea, designed to extend the life of the field and its surrounding infrastructure for decades.

With the redeveloped Tyra II hub now operational, the focus shifts to sustained, efficient, and safe production. The field is a cornerstone of Denmark's energy security, expected to produce up to 2.8 billion cubic meters of gas annually, restoring the nation's status as a net exporter of natural gas. Weatherford's integrated completions services will be essential in optimizing well performance and maximizing recovery from this vital national asset, ensuring a reliable energy supply for both Denmark and the wider European market.

Navigating the Dual Mandate of the Energy Transition

While this contract underscores the continued need for fossil fuel production, it exists within the context of TotalEnergies' broader, dual-pronged strategy: reliably producing the energy the world needs today while actively building the low-carbon energy system of tomorrow.

TotalEnergies has made significant commitments to the energy transition in Denmark. The company is a key partner in the Bifrost Project, a pioneering carbon capture and storage (CCS) initiative aiming to store millions of tons of CO2 beneath the North Sea seabed. Furthermore, it is aggressively expanding its renewable energy portfolio, having acquired majority stakes in two major offshore wind projects, Jammerland Bugt and Lillebælt Syd, in late 2024. These wind farms are projected to power over 400,000 Danish homes by 2029.

This contract with Weatherford demonstrates the practical reality of the energy transition. To fund massive investments in renewables and decarbonization, energy majors must ensure their existing oil and gas operations are as efficient and low-emitting as possible. The Tyra II redevelopment itself was engineered with sustainability in mind, designed to reduce CO2 emissions by 30% and routine flaring by 90% compared to its predecessor. The deployment of advanced completion technologies from partners like Weatherford is a key enabler of these environmental performance goals, helping to minimize the operational footprint of essential energy production.

Market Confidence and Financial Stability

While the financial terms of the multi-year deal were not disclosed, as is common in the industry, its strategic and financial implications for Weatherford are clear. A long-term agreement with a supermajor like TotalEnergies provides a stable and predictable revenue stream, strengthens the company's contract backlog, and signals strong market confidence in its offerings.

The award comes as Weatherford enjoys a period of robust financial health. The company reported strong results for the fourth quarter of 2025, with revenues of $1.29 billion and a full-year adjusted free cash flow of $466 million. This financial stability enables the company to invest in the technology and expertise required for complex offshore projects while also delivering significant returns to shareholders. Securing this flagship contract in Denmark will contribute directly to Weatherford's forward-looking growth and profitability, further solidifying its position as a key player in the global energy services landscape. The partnership ensures that as Denmark's critical offshore assets continue to produce, they will be supported by leading-edge technology designed for maximum efficiency and reliability.