Brought to you by Quest Offshore & Southern Cone Consultants
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant activity on the Sakarya project... Continue Reading →
Oil and gas company Afentra plc, led by former Tullow CEO Paul McDade, has signed an agreement with Angola's Sonangol to buy interests in Block 3/05 and Block 23, offshore Angola. Afentra will pay $80 million and could also pay contingent payments of up to $50 million in aggregate in the case of Block 3/05, with... Continue Reading →
(Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) said on Thursday it will look beyond Russia for growth in a "fundamental" change for the company, but will retain its assets there to avoid them falling to the Russian state. "There can be and will be no 'business as usual' with Russia now," Chief... Continue Reading →
Craig Fleming (WO) With the havoc created by the war in Ukraine and the hard push to convert to renewables, operators are once again focusing on the high ROI that offshore prospects offer. There is an onslaught of good news and positive indicators that suggest operators are poised to significantly increase offshore development in 2022. ... Continue Reading →
Houston-based Vaalco Energy has brought on stream its second well in the 2021/2022 four-well drilling campaign offshore Gabon and started drilling the third one. The second well has shown strong initial flow rates. To set its 2021/2022 drilling campaign focused on the Etame field in motion, Vaalco hired in June 2021 a jack-up rig provided by Borr Drilling to... Continue Reading →
Offshore drilling firm Sonadrill, a 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a ten-well contract with options for up to eight additional wells in Angola for the West Gemini drillship. The total contract value for the firm part of the contract is expected to be approximately $161 million, including mobilization... Continue Reading →
(Reuters) - Italy's Eni (ENI.MI) has signed a deal to increase gas supplies from the Congo Republic by more than 4.5 billion cubic metres (bcm) a year, the energy group said on Thursday. The deal is the latest Italian move to reduce dependence on Russian gas, with Foreign Minister Luigi Di Maio and Ecology Transition Minister Roberto... Continue Reading →
TechnipFMC has been granted pilot approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to deploy its Subsea 2.0 equipment for the country’s oil and gas projects. As described, the Subsea 2.0 product, such as trees, manifolds and associated components, are smaller, lighter and use fewer parts than previous generations. The products were designed to... Continue Reading →
(Offshore Energy) Oil and gas exploration company Eco (Atlantic) Oil & Gas has made its required capital expenditure contribution and is on track to start drilling a high-impact exploration well located in Block 2B, located offshore South Africa, by October this year as scheduled. The joint venture (JV) partnership for Block 2B is operated by a subsidiary... Continue Reading →
(OM) PGS is making available time products for an 11,000-km (6,835-mi) reprocessed seismic volume covering an extension of Uruguay's shallow and deepwater provinces, from the Pelotas basin to the Punta del Este basin. The package includes ties to the company’s 15,600-sq km (6,023-sq mi) 3D GeoStreamer dataset, allowing analog assessment of the recent equatorial margin... Continue Reading →
Brazil Energy Insight 