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J2 Subsea, an Acteon company, has secured an order for its 4 Port Tool Changers in collaboration with Palm Tecnologia for a MOBO intervention campaign offshore Brazil planned for 2018. The J2 Subsea 4 Port Tool Changers enable ROVs to connect with tools subsea with zero leakages. The tool changer has been tested and rated... Continue Reading →
Dutch FPSO provider SBM Offshore has reached a deal with the Brazilian prosecutor under which the prosecutor will refrain from initiating new legal proceedings against the company related to legacy bribery issues in Brazil. Following a leniency agreement in July with Brazilian Authorities CGU (Ministério da Transparência e Controladoria-Geral da União) and AGU (Advocacia Geral da... Continue Reading →
Brazil’s state-run oil company Petrobras (PETR4.SA) and France’s Total (TOTF.PA) on Friday agreed to buy millions of barrels of oil cargo from the Brazilian government, its first successful auction of its share of output from the pre-salt offshore play. Read more
Fernando Haddad, the Workers Party vice-presidential candidate who could be catapulted to Brazil’s presidency if Luiz Inacio Lula da Silva is barred from running, has quietly met with major investors to tame fears of a leftist return to power. Read more
Rio de Janeiro, August 31, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 8/7/18, informs that, due to the methodology established in the National Agency of Petroleum, Natural Gas and Biofuels (ANP) Resolution no. 743, of 8/27/18, the diesel price increase in the international market, and the exchange rate... Continue Reading →
The Brazilian economy accelerated slightly in the second quarter despite a nationwide truckers’ strike, as a slow and uneven recovery rumbled on ahead of presidential elections in October. Read more
TDI-Brooks International has, under contract with TGS, deployed the R/V Proteus to Brazil to begin an offshore coring program with advanced geochemistry analysis. The multi-client program in Brazil will span over 4 months for the Proteus, to include 330 Piston Cores, 33 JPCs and 33 HF sites, with a second phase to start early 2019. The... Continue Reading →
ExxonMobil’s latest oil discovery offshore Guyana has de-risked the Tullow-operated Orinduik block, making Tullow almost ready to pick the location for the first well on this license. ExxonMobil on Thursday announced a new oil discovery of 60 meters (197 feet) of net pay of high-quality, oil-bearing sandstone reservoir in the Hammerhead-1 well located in the Stabroek... Continue Reading →
FPSO operator BW Offshore booked a loss for the second quarter of the year but the company is experiencing improved FPSO market activity. According to BW’s report on Friday, the company’s operating revenues for the second quarter of 2018 were $200.2 million compared to $163.4 million in the prior-year period. The company recorded a net loss... Continue Reading →
U.S. oil major ExxonMobil has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and proving a new play concept for potential development. It is worth reminding that ExxonMobil announced its eighth discovery offshore Guyana in June. Read more
Brazil Energy Insight 