Proposal should be voted on November 27 BRASÍLIA - The Senate is expected to vote later this month on a bill that makes it possible to revise a contract between the federal government and Petrobras over pre-salt areas and allows a mega-oil auction, with potential to raise up to R $ 100 billion . Senators... Continue Reading →

Offshore installation and construction specialist Subsea 7 saw its profit drop in the third quarter of 2018. The company’s vessel utilization hit 2014-highs in the quarter, tendering activity is picking up, but pricing remains under pressure. Subsea 7 posted revenue of $1,08 billion, a slight rise compared to $1.06 billion a year ago. Net profit was... Continue Reading →

The worldwide offshore rig count in October rose by three units compared to October 2017 numbers. According to BHGE’s report released on Wednesday, the worldwide offshore rig count in October 2018 was 230 units, up from 227 a year ago. Baker Hughes, a GE company, splits it rig counts to international rig counts and North... Continue Reading →

Norway’s offshore vessel owner Solstad Offshore has said that the OSV market recovery has been slow and the dayrates for the vessels are still not at sustainable levels for the owners. The company which owns 140 various offshore vessels saw its loss for the third quarter deepen to around 456 million crowns (around $55,4 million). This... Continue Reading →

The first in four years... Rio de Janeiro, November 06, 2018 – Petróleo Brasileiro S.A – Petrobras announces that its Board of Directors approved in a meeting held yesterday the distribution of early remuneration to shareholders as Interest on Capital (IOC), as defined in art. 9, sole paragraph of its bylaws and in article 9... Continue Reading →

Rio de Janeiro - November 6, 2018 - FINANCIAL REPORT THIRD QUARTER OF 2018 RESULTS - Consolidated financial information revised by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Net income R$ 6,644 million Production 2,514 kboed Adjusted EBITDA R$ 29,856 million Main highlights Results Petrobras reported net income of R$... Continue Reading →

Petrobras will be able to contract six marine drill rigs by mid-2019, at least two of them to operate in the Libra area in the Santos Basin pre-salt. The forecast is for Transocean's Senior Vice President, Roddie Mackenzie. During a conference with analysts last week, the executive said he had a very positive feeling toward... Continue Reading →

Sonardyne has reported new Ultra-Short BaseLine (USBL) equipment sales across Europe, Asia and the Americas. Organisations operating out of the UK, Brazil, Thailand and Vietnam have acquired Sonardyne’s vessel-based Ranger 2 and Mini-Ranger 2 USBL underwater positioning technology for tracking a range of subsea assets, from small drones due to be deployed in Shell’s Ocean... Continue Reading →

Prosafe, an operator of offshore accommodation vessels, has said that tendering activity continues to pick up in the North Sea market as well as internationally.  In its financial report for the third quarter 2018 Prosafe said on Tuesday that one main driver for the increase is maintenance and modification work being sanctioned as a result of... Continue Reading →