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Bruce Beaubouef * Managing Editor(OM) The outlook for international E&P for next year “remains healthy,” according to Evercore ISI’s latest Offshore Rig Market Snapshot report. The report borrowed from the firm’s recently released 2024 Evercore ISI E&P spending survey and 2024 Oilfield Services outlook, which found that E&P spending growth in the US for 2024... Continue Reading →
Wison (Nantong) Heavy Industry, an affiliate of Wison Offshore & Marine (WOM), has entered into a memorandum of understanding (MoU) with Nigeria National Petroleum Corporation (NNPC) for the development of a floating LNG project in Nigeria, targeting the international LNG market. Wison and NNPC signed the MoU at COP28 in Dubai on December 6, 2023.... Continue Reading →
(OET) Yinson Production, an offshore production business arm of Malaysia’s Yinson Holdings, has made a move to slash its carbon footprint by making a strategic investment in Ionada, in recognition of the potential the firm’s carbon capture technology holds as a tool to decarbonize FPSO operations and lead to emissions reduction in the hard-to-abate industries.... Continue Reading →
(OET) Norway-headquartered seismic company PGS has made progress in its merger with TGS after shareholders of both companies threw their support behind the merger in a bid to establish a stronger and more diversified geophysical company and data provider to the energy value chain. Back in September 2023, TGS and PGS announced their agreement on principal terms... Continue Reading →
(OE) Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron. Equinor has been present in Nigeria since 1992 and has played a significant role in... Continue Reading →
Portuguese oil and gas company Galp has kicked off drilling operations at a well in license PEL 83 offshore Namibia, located close to Shell’s Graff and TotalEnergies’ Venus discoveries. On the other hand, the U.S. oil major Chevron is looking to drill up to ten new wells in PEL 90. These licenses are located in... Continue Reading →
By Gavin Kerr, Mammoet (OM) The drive to construct bigger FPSO and FLNG facilities is essential to improve productivity, with superior efficiency benefits to be gained compared to smaller assets. But this trend is not without challenges, including whether there is the correct construction equipment and methodologies to achieve what has been designed. Modularized construction... Continue Reading →
Petro Services and its main subcontractor Ocean Installer, a marine construction and operations player, have secured a contract with TotalEnergies for umbilical recovery and reinstallation activities on a floating production, storage, and offloading (FPSO) vessel in Angola. The new contract, awarded by TotalEnergies EP Angola and its Block 17 partners, will enable the two players to execute an... Continue Reading →
(OET) Offshore drilling contractor Valaris has recorded a strong operational and financial performance during the third quarter of 2023, thanks to a rise in rig demand and day rates. The rig owner’s outlook for the offshore drilling market over the next two years remains bullish with further improvements in fleet utilization and day rates on... Continue Reading →
Oil and gas company Kosmos Energy said Monday it had increased its working interest to 90% and assumed operatorship of the "world-scale " Yakaar-Teranga gas discoveries offshore Senegal. The increase in working interest follows BP’s exit from the field. According to Kosmos Energy, Yakaar-Teranga is one of the world’s largest gas discoveries in recent years... Continue Reading →
Brazil Energy Insight 