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February 14, 2020 In partnership with BP and Equinor, company prepares first production sharing well in the basin In March, Petrobras plans to start drilling the first exploratory well in Dois Irmãos, in the Campos Basin pre-salt. The location of the well, in the area purchased in the 4th Round of Sharing, has already been... Continue Reading →
Offshore drilling contractor Valaris, formerly known as EnscoRowan, has been awarded a new batch of contracts and extensions with Murphy Oil, BP, Premier Oil, Kosmos, Walter Oil & Gas, and an undisclosed operator in Australia. In its fleet status report published on Friday, Valaris said that the 2014-built drillship Valaris DS-15 (Renaissance) was awarded a contract extension... Continue Reading →
FEB 12 , 2020 Minister of Mines and Energy, Bento Albuquerque, launched the Ten Year Energy Plan (PDE 2029), a document that brings an indication of the prospects for future expansion of the energy sector for the next decade. For the oil and gas sector, in particular, the projections are encouraging. The government estimates that... Continue Reading →
Feb 12, 2020 Equinor's goal of reducing carbon emissions by 2.2 million tonnes between 2021 and 2040 in Peregrino and Pitangola fields in the Campos Basin has just received an important nod. The National Petroleum, Natural Gas and Biofuels Agency (ANP) authorized changes to the Development Plan for the fields. With this, it will be... Continue Reading →
While much focus on resident subsea vehicles has been about the vehicles, there’s also been a lot of focus behind the scenes on creating electric tooling. The industry has relied on hydraulic tooling since tooling has been used, with the benefits and drawbacks that come with it. Leading the field has been Schilling Robotics, now... Continue Reading →
February 13, 2020 Guidance delivered, doubling dividend, share repurchase and backlog up 40% Highlights 2019 guidance delivered: Directional[1] revenue US$2,171 million; reported Directional EBITDA US$921 million Underlying[2] Directional EBITDA US$832 million US$6 billion net increase of pro-forma backlog[3] to US$21 billion 100% increase in dividend to US$150 million Launch of EUR150 million (c. US$165 million) share repurchase Market... Continue Reading →
Norwegian offshore engineering and construction company Kvaerner expects 2020 revenue and EBITDA to be lower compared to 2019, citing an effect of the market cycle with few new orders in 2018 and 2019. Kvaerner on Wednesday released results for the fourth quarter and full year of 2019, saying the results ended at “planned levels.” Continue... Continue Reading →
The holiday season has just passed, and many may have heard the phrase, “good things come in small packages.” Does this hold true for today’s undersea vehicles? Indeed it does. One of the most striking recent trends in the field is the proliferation of compact and affordable, yet highly effective, undersea vehicles. The past decade... Continue Reading →
The dispute over who will run operations for a major offshore oil discovery in Mexico could eventually come down to the technical opinion of the country's independent oil regulator, according to one of the body's commissioners. Closed-door talks between national oil company Pemex and a private consortium led by U.S.-based Talos Energy over who will... Continue Reading →
Offshore accommodation specialists Prosafe and Floatel have decided to abandon their merger plans amid financial uncertainty and regulatory objections. The merger would have created the world’s largest offshore accommodation company. Prosafe and Floatel International said on Thursday they had mutually decided to discontinue the merger process due to financial uncertainty and process risk. “The regrettable... Continue Reading →
Brazil Energy Insight 