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The well intervention market is a niche one, with only a few main players – including Helix/Well Ops, Island Offshore, AKOFS Offshore and Siem Offshore – and only three key geographical regions; Northwest Europe, South America and the US Gulf of Mexico. Unsurprisingly then, the fleet operates in regions with high numbers of installed subsea... Continue Reading →
Just as the oil and gas industry was starting to get back on its feet, COVID-19 and plummeting oil prices have affected the market across the board, including well intervention. But players in this space are optimistic, with new vessels and more compact intervention systems being planned and hopes that production enhancement will be an... Continue Reading →
Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a... Continue Reading →
Norway-based energy intelligence firm Rystad Energy said Tuesday it didn't expect any new FPSO orders this year, however, it expects the situation will improve next year when it foresees seven new FPSO to be ordered. "Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will... Continue Reading →
Offshore and subsea services provider Oceaneering has secured a contract with Chevron's Angola subsidiary Cabinda Gulf Oil Company Limited (CABGOC) Under the three-year contract, Oceaneering's Asset Integrity division will provide inspection services onshore Cabinda, Angola, and offshore Angola on Blocks 0 and 14. The contract is scheduled to begin in Q2 2020. Continue reading
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. A collapse of the offshore industry will have broad impact. Drillers and their suppliers have... Continue Reading →
June 10, 2020 Adriano Bastos will leave the command of BP Brasil to direct the E&P activities of the British oil company in West Africa. Confirmed by sources to PetroleoHoje, the change will take effect in July. BP is still analyzing names to replace the executive. As of next month, Bastos is the new president... Continue Reading →
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer. The consequences could be grave for a poor country that relies heavily on oil revenues and is saddled with debts that exceed its... Continue Reading →
Confidence had returned to global exploration with improved performance and the emergence of several new multi-billion barrel plays. The confidence carried over into 2020 but has evaporated in the face of the Covid-19 crisis and the collapse in oil prices. Short term plans are in a state of flux and exploration strategy is being reset... Continue Reading →
Angolan state oil company Sonangol said on Friday it has opened a public tender to sell its stakes in some private firms as part of a government bid to privatize key state assets including parts of Sonangol itself by 2022. Describing Sonangol as an "octopus," the country's minister of Mineral Resources and Petroleum, Diamantino Azevedo,... Continue Reading →
Brazil Energy Insight 