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Teresa Wilkie, Contributor Research Director of RigLogix at Westwood Global Energy A noticeable recovery in the West African offshore floating rig market (semisubmersibles and drillships) has been slower to arrive than the other two points of the Golden Triangle – Brazil and the US Gulf of Mexico – but now appears to be well underway. As... Continue Reading →
Subsea 7 has reported a revenue of $1.2 billion for the first quarter of 2023, a 4 per cent increase compared to the same period last year, stating it is on track to achieve a higher whole-year revenue than in 2022. The revenue increase is said to reflect strong growth of 18 per cent in... Continue Reading →
(OE) On Friday, Australian oil and gas giant Woodside said that its Sangomar development project offshore Senegal was 82% complete and on target for first oil later this year. Once online, this will be Senegal's first offshore oil project in production. Woodside, the operator of Sangomar, said in its first quarter report that the development... Continue Reading →
(OE) Oil and gas company Sintana Energy said Friday that over 50% of 3D seismic survey data has been gathered from Petroleum Exploration License 87 (“PEL 87”) and the surrounding area in the Orange Basin offshore Namibia. To remind, Australian oil giant Woodside in March signed an option agreement to acquire at least a 56%... Continue Reading →
(OE) AFC Equity Investment has agreed to buy Aker Energy, a company working to develop the Pecan oil field offshore Ghana, from Aker Capital and The Resource Group Aker today holds 50.79 percent of the shares in Aker Energy, and TRG holds 49.21 percent. AFC Equity Investment is owned by Africa Finance Corporation (“AFC”). The... Continue Reading →
BW Energy on Monday announced it has achieved first oil from the Hibiscus / Ruche Phase 1 development in the Dussafu license offshore Gabon. "Production performance from the first well has been in line with expectations and is currently stabilized at approximately 6,000 barrels per day," the Oslo-listed E&P company said in a statement. "We... Continue Reading →
(OE) Italian energy industry services firm Saipem said Monday it had won three new offshore contracts and two competitive FEED contracts totaling around $650 million. Azule Energy has assigned the first contract for the Agogo Full Field Development project, a deepwater greenfield development, approximately 180 kilometres offshore Angola, about 20 kilometres west of the N’Goma... Continue Reading →
(Reuters) - Spanish engineering firm Acciona (ANA.MC) and Germany's Nordex (NDXG.DE) said on Friday they teamed up to develop green hydrogen projects within the next 10 years in the United States, Latin America and Africa. The 50-50 joint venture aims to reach the ready-to-build stage for its first projects by 2027 and expects to reach a production capacity of... Continue Reading →
(CGTN) Goldwind, the world's top wind turbine supplier in 2022, expects the global offshore wind power market to expand hundreds-fold, possibly even thousands-fold, in the next few decades. "The global offshore wind power development we see now is just the beginning," Wu Kai, vice president of Goldwind, told CGTN in Beijing. "With the comprehensive utilization... Continue Reading →
New awards in the floating production storage and offloading vessel market could reach up to 50 by the end of this decade, according to a new report by Rystad Energy. From 2023 to 2030, the Oslo-based market intelligence firm forecasted 48 FPSO deals for new greenfield developments, 19 of which are earmarked for Brazil and... Continue Reading →
Brazil Energy Insight 