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(OE) Offshore drilling contractor Seadrill has secured multiple contract awards totaling approximately $97.5 million for its West Vela and West Cappella drillships, announcing also it would resume management services for its West Auriga drillship earlier than expected. Talos Production has awarded the West Vela a contract with an estimated duration of 150 days in the... Continue Reading →
(PN) Petrobras is in direct negotiations with Seatrium (a company formed by the merger between Sembcorp Marine and Keppel Offshore) for the construction of platform ships (FPSOs) P-84 and P-85. The vessels will be installed by Petrobras in the Atapu and Sépia fields, respectively, both located in the pre-salt of the Santos Basin. In Brazil,... Continue Reading →
(OET) Within its 2024 Business Strategy and Development Plan, China’s oil and gas giant CNOOC Limited has outlined a set of objectives for the year ahead. With energy demand on the rise, the Chinese giant has unveiled intentions to step up oil and gas production, bolster its hydrocarbon reserves, and scale up natural gas exploration... Continue Reading →
(OM) A major capex shift from North America to international markets has been ongoing since early 2023, according to Evercore ISI’s latest Offshore Rig Market Snapshot. This trend has been concurrent with low natural gas prices in the US, which has prompted a number of rigs to out into international markets. Combined with attractive offshore... Continue Reading →
(OE) Mitsui O.S.K. Lines (MOL) and Hokutaku, Japan's largest wind turbine maintenance company, have made an agreement to form a capital alliance as MOL pursues growth in its non-shipping businesses like offshore wind. The capital alliance entails MOL's acquisition of a majority of the outstanding shares of Hokutaku, the largest third-party wind maintenance company in... Continue Reading →
Offshore staff (OM) Last year was a record for offshore wind investments worldwide, according to a report by TGS - 4C Offshore, with projects totaling 12.3 GW in capacity reaching closure. Up to 13 GW of further projects could go forward in 2024. The 2023 intake included FID on eight European projects total, concluding with Hornsea... Continue Reading →
(Reuters) - Shell (SHEL.L) on Monday flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore refining and chemicals hub the oil major is looking to sell. The assets include a 237,000 barrels per day (bpd) refinery and a one million metric ton per year (tpy) ethylene plant... Continue Reading →
(OET) The offshore drilling market has been reaping the benefits of the ongoing upcycle, as rising demand and tightening supply brought higher day rates and fleet utilization in 2023. Will this trend continue in 2024? Westwood Global Energy, an energy market research and consultancy firm, has outlined its top three predictions for the year ahead,... Continue Reading →
Facility includes an option to convert to a sustainability-linked loan Seatrium Limited (Seatrium, or the Group) is pleased to announce that its wholly-owned subsidiary Seatrium Financial Services Pte. Ltd. (SFS) has successfully refinanced an existing loan facility due in February 2024 with a S$400 million committed loan facility from DBS Bank Limited (“DBS”). The three-year... Continue Reading →
Industry continues chasing big oil, key gas targets also on the radar (OE) Global exploration drilling is set for a boost in 2024 – we have line of sight on over 200 wells targeting over 30 bnboe of resource (unrisked). Several gas hotspots are on the industry agenda, whilst the strong appetite for oil exploration... Continue Reading →
Brazil Energy Insight 