Paratus Energy is honoured for demonstrating that capital discipline can deliver returns in an inherently cyclical offshore market. Since late 2022 it has executed a complex separation from Seadrill, assumed operations in Mexico, and built a capable organisation from a standing start, strengthening governance and financial control. It converted asset positioning into visibility by securing $2.5bn of Brazilian backlog, enabling refinancing through a $500m Nordic bond transaction, among the region’s largest offshore deals in more than a decade, and subsequently completing an Oslo IPO, advancing from Euronext Growth to the Oslo Stock Exchange main list in November 2024. Operational credibility is amplified by its Seagems joint venture, which has won Petrobras’ Best Suppliers Award for flexible pipeline installation several times, most recently in 2025, sustaining national leadership in a demanding niche. In Mexico, despite payment delays exceeding six months from a leveraged client, Paratus has remained proactive, including a $209m monetisation supported by a third-party international bank. Portfolio streamlining, including monetising the Archer stake, enhances focus and cash conversion, supporting six consecutive quarterly dividends at a steady level. Overall performance has also surpassed initial financial guidance in both 2024 and 2025. It prioritises high-quality reporting, prudent leverage, and reinvestment where returns are clear. The Capital Finance International (CFI.co) Judging Panel congratulates Paratus Energy on winning the 2025 Leader In Capital-Efficient Offshore Energy Services Award (Global).