Rio de Janeiro, December 21, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved in a meeting held yesterday the Business and Management Plan 2018-2022 (BMP 2018-2022). The Board also approved the Strategic Monitoring process, based on the Strategic Plan released in September 2016, which consists of the permanent evaluation... Continue Reading →
Lenders back Noble Corporation with new credit facility pledge
Offshore driller Noble Corporation has received commitments from lenders to enter into a new credit facility, which is expected to close by the end of 2017. Noble informed on Wednesday that the new credit facility is expected to provide borrowing capacity of $1.5 billion with an expected maturity of January 2023. Read more
ROVOP to increase ROV fleet following funding boost
Remotely operated vehicles operator ROVOP will increase its fleet by 50 percent to meet ongoing customer demand following a funding boost of £56m ($75m). ROVOP said on Wednesday that Blue Water Energy and BGF jointly committed to the funding which underpins the company’s growth plans including the creation of up to 80 jobs. The company,... Continue Reading →
Spectrum begins new phase of 2D campaign offshore Brazil
Multi-client seismic data specialist Spectrum has begun Phase III of the Santos Campos multi-client 2D seismic campaign offshore Brazil. Spectrum said on Wednesday that the new acquisition program was a further extension of the company’s 2017 Santos Campos Phase II survey, covering an area in the southern Santos Basin. Read more
SBM Offshore lands $750M loan for Liza FPSO
SBM Offshore gas completed the project financing of Liza FPSO, to be deployed offshore Guyana, for a total of $720 million. The Dutch company has obtained the cash from a consortium of twelve international banks. The Liza FPSO will be owned and be operated by SBM Offshore, and will, once completed, be used by Exxon Mobil... Continue Reading →
Petrobras – Divestment in the Fertilizer Sector: Start of the binding phase
Rio de Janeiro, December 19, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact of 09/11/2017 and press release of 09/28/2017 and 10/27/2017, informs the start of the binding phase regarding the process of divesting 100% of its assets in Araucária Nitrogenados SA ("ANSA") and in the Nitrogen Fertilizer Unit III ("UFN-III").... Continue Reading →
Billionaire Odebrecht in Brazil scandal released to house arrest
Billionaire Marcelo Odebrecht, the highest-profile executive imprisoned in Brazil’s massive graft scandal, was released from jail on Tuesday to continue his sentence for corruption under house arrest, according to a federal court. Read more
Farm-in of BM-S-8 approved without restrictions/Exxon – Carcara
The Administrative Council for Economic Defense (Cade) approved the entry of ExxonMobil into the consortium that operates the exploratory block BM-S-8, in the Santos Basin pre-salt, where Carcará was discovered. The operation was approved without any restriction. A major corporate reorganization was made at BM-S-8 in the 2nd pre-salt auction, which offered the unitizable... Continue Reading →
McDermott, CB&I to merge in $6B all-stock deal
McDermott and CB&I have agreed to merge in an all-stock transaction to create an integrated onshore-offshore company, with a broad engineering, procurement, construction and installation (“EPCI”) service offering. Upon completion of the transaction, McDermott shareholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately... Continue Reading →
FPSO Petrojarl I en route to Brazil
Teekay Offshore Partners has completed the upgrade of the Petrojarl I floating production, storage, and offloading (FPSO) unit, which has now sailed away from the Aibel shipyard in Norway. Teekay said on Monday that the FPSO unit was en route to the Atlanta Field, which is located 185 kilometers offshore Brazil. The water depth at... Continue Reading →
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