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(Reuters) As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the spotlight. Offshore exploration had dimmed after the U.S. shale boom ushered in new and cheaper-to-tap supplies of oil, and as past offshore... Continue Reading →
(OE) Global maritime company BW Group has unveiled plans to separate BW Energy as an oil and gas exploration business from its maritime businesses, as part of corporate restructuring process. BW Group currently owns 191,903,110 shares in BW Energy, corresponding to 74.38% of the issued and outstanding shares and voting rights in BW Energy. As... Continue Reading →
(OE) Offshore drilling company Valaris has secured new contracts and extensions for its drilling rigs, increasing its contract backlog to approximately $4 billion. Since its latest fleet status report, issued on February 15, 2024, Valaris has secured approximately $480 million new contracts and contract extensions, increasing its backlog from $3.9 million. Drillships and Jack-Ups Deals... Continue Reading →
(Offshore-energy.biz) Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of contract awards last year, taking its backlog... Continue Reading →
(OM) Offshore rig rates hit a nine-year high last year, according to a report from Westwood Global Energy Group subsidiary RigLogix. Day rates for jackups, semisubmersibles and drillships averaged $118,000, $368,000 and $419,000, respectively, 54% up on the figures for 2021. However, the inflationary prices, caused by a combination of higher global rig demand, rising rig use... Continue Reading →
Offshore drilling firm Noble Corporation has informed about two new drilling campaigns secured for its Noble Venturer drillship in Africa, which is currently employed on drilling assignment with Tullow Oil offshore Ghana. Following the early completion of the Tullow Oil Ghana campaign expected to end in late May 2024, Noble Corporation said it will relocate... Continue Reading →
(OE) Portuguese oil company Galp has successfully completed the first phase of the Mopane exploration campaign in the PEL 83 block offshore Namibia, and started a process of evaluating commerciality of oil discoveries made in the past months. Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), said it successfully completed the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, informs that it has discovered an accumulation of oil in ultra-deep waters of the Potiguar Basin, in the Anhangá exploratory well, of Concession POT-M-762_R15. The 1-BRSA-1390-RNS (Anhangá) well is located on the coast between Ceará and Rio Grande do Norte, about 190 km from Fortaleza and 250 km from Natal, at... Continue Reading →
(OE) Marine seismic data company PGS has received a letter of award for a large 3D contract offshore South Atlantic margin from a multiclient company. A Ramform Titan-class vessel is scheduled for mobilization in June, with a forecast acquisition duration of up to 300 days. The value of the contract has not been disclosed, but... Continue Reading →
(Reuters) - A promising area off Colombia's coast where Brazil state-run Petrobras (PETR4.SA), opens new tab is drilling this year could justify a large project to supply natural gas to the Andean country and for exports, Petrobras' head of exploration and production said on Wednesday. As oil production in Brazil's prolific presalt region is set to plateau... Continue Reading →
Brazil Energy Insight 