Jan, 2018 Rosneft began drilling in the Solimões Basin, in block SOL-T-169. Another company that will also start the drilling campaign is Tek, which kicked off its work in the REC-T-153 block in the Recôncavo Basin. In relation to the Rosneft project, it is the well 1RNB2AM, which began to be drilled in the... Continue Reading →
BW Offshore wins contract extension for FPSO Polvo in Brazil
FPSO operator BW Offshore has been awarded a contract extension for its floating production storage and offloading (FPSO) unit operating offshore Brazil. BW Offshore said on Sunday it has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. Read more
OOS International’s new accommodation unit set for Brazil
Dutch provider of heavy lift and accommodation solutions OOS International has named and introduced its new semi-submersible accommodation vessel (SSAV), the OOS Tiradentes. On December 29, 2017, OOS International named the OOS Tiradentes after a famous independence hero in Brazil in collaboration with CIMC Raffles. The SSAV is due to enter OOS International’s offshore operations in 1Q... Continue Reading →
Bassoe: Offshore rig market shakeup to continue in 2018 amid persistent low dayrates
The theme for 2017 was perseverance. For 2018, it’s adaptation. Our offshore rig market outlook for 2018 is based on 1) an oil price which could move within a range over $80 and down to $50 and 2) modest, but increasing, drilling activity. Overall, the market this year will see a continuation of the themes of... Continue Reading →
Wood Mac: Five things to look for in 2018
Looking back, 2017 was the year when a glint of optimism returned to the upstream oil and gas industry. Will we see companies grow in confidence in 2018? With oil prices upwards of $60/bbl, investment stabilizing, and new project sanctions on the rise, we think so. Read more
ExxonMobil announces sixth oil discovery offshore Guyana
ExxonMobil Corporation has announced positive results from its Ranger-1 explorationwell, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara,Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 Bboe. Read more
Brazil makes big progress but hurdles remain
Temer administration has taken decisive action that has succeeded in drawing investment from oil majors but local content issues and taxation are still key factors to resolve by Gareth Chetwynd Rio de Janeiro 5 Jan 2018 00:00 GMT Brazil’s oil sector was a busy place in 2017, with regulatory reforms playing a key role... Continue Reading →
Rowan buys two jack-up rigs from Petrobras
Offshore driller Rowan Companies has bought two jack-up drilling rigs from Petrobras for a total of $77 million. Rowan has concluded the purchase of two LeTourneau Super 116E jack-up rigs, the P-59 and P-60, which were both delivered new into service in 2013, in a public auction from a subsidiary of Petrobras for $38.5 million per unit, the driller... Continue Reading →
Shareholders in Brazil demand Petrobras match $3 billion U.S. settlement
Brazilian shareholders of state-controlled Petroleo Brasileiro SA (PETR4.SA) are petitioning a Brazilian court to be paid on similar terms as those given to U.S. shareholders in a $2.95 billion settlement, a lawyer told Reuters on Thursday. Read more
UK: New guidance launched to help plan decommissioning
An industry workgroup has issued new guidance that will help companies plan decommissioning more efficiently, Oil & Gas UK announced on Thursday. Oil & Gas UK, a representative organization for the UK offshore oil and gas industry, said that its subsidiary, Common Data Access (CDA), has worked with the Shell Brent Decommissioning Project and the... Continue Reading →
Brazil Energy Insight 