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Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending. The downturn was the worst to ever hit the offshore sector. Orders for... Continue Reading →
The coronavirus epidemic in China has triggered restrictions in the country’s public transport and air travel, both at a domestic and an international level, reducing demand for oil, which has lost about a fifth of its value since the start of the year, according to a latest report by Norwegian energy intelligence firm Rystad Energy. ... Continue Reading →
Aquaterra Energy, a provider of offshore engineering solutions, has secured a “significant” agreement from Chevron to design and support the installation of the Sea Swift offshore platform solution off the coast of Angola. Aquaterra said on Tuesday that the deal from Chevron was awarded through the oil major’s wholly-owned subsidiary in Angola – Cabinda Gulf... Continue Reading →
Houston-based subsea engineering company Oceaneering has been awarded a contract for comprehensive riserless light well intervention (RLWI) services offshore Angola in Blocks 18 and 31 by oil major BP. Oceaneering said on Monday that the value of this award was reflected in the company’s December 31, 2019, subsea products backlog. In connection with this contract,... Continue Reading →
Oilfield services provider TechnipFMC expects $2.4 billion of non-cash asset impairment charges to impact its results in the fourth quarter of 2019. The company said on Monday that it anticipates for the full year 2019 revenues to approach the guidance mid-point of $13.5 billion. The company expects adjusted EBITDA margin for all segments to meet... Continue Reading →
February 10th, 2019 After several years of stagnation, we have delivered an excellent operating performance. Reaching daily, quarterly and annual oil and gas production records. In 4Q19, oil and gas production reached 3.025 million barrels of oil equivalent per day (MMboed), which represents a new landmark in Petrobras history, as we break through the 3.0... Continue Reading →
Preliminary results from the shallower sections of Karoon’s Marina exploration well, located offshore Peru, have shown disappointing results, but the work goes on to reach the deeper primary targets. The well is being drilled using the Stena Forth drillship, which arrived to Peru in early Janaury. The well was spud in late January. In an update on Tuesday, Karoon... Continue Reading →
February 07, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), regarding the sale of all its equity stake in its Nitrogen Fertilizer Unit III (UFN-III ). The teasers, which contain key information about the asset, as well as the eligibility criteria for selection of potential participants,... Continue Reading →
February 10, 2020 Total plans to drill in block CM-541, in the Campos Basin pre-salt, between the end of this year and the beginning of 2021, informed the company's E&P director, Arnaud Breuillac, during a conference call with analysts last Thursday (6/2). According to the company, there are two “giant world-class” prospects in the asset,... Continue Reading →
Constellation said last week it had secured a three-year drilling contract for the Atlantic Star rig. The Atlantic Star is a midwater semi-submersible drilling rig which was originally constructed in 1976 and was acquired by Constellation in 1997. Continue reading
Brazil Energy Insight 