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Norwegian FPSO operator BW Offshore is targeting 1Q 2020 for the IPO and listing of its 68.6% owned exploration and production subsidiary, BW Energy. BW said on Wednesday that the IPO and listing were planned through a combination of a distribution of shares from BW Offshore and a contemplated equity raise of about $175 million.... Continue Reading →
The United States’ change of stance to support Brazil’s bid to join the Organization for Economic Cooperation and Development (OECD) ahead of Argentina was welcomed by the Brazilian government on Tuesday. The U.S. government’s plans, after having previously said they wanted Argentina to be next in line to join the rich nations’ club, are a... Continue Reading →
A strong 2019 provided telltale signs that the industry was entering a new offshore investment cycle, Espen Erlingsen, head of upstream research at Rystad Energy has said. Erlingsen said on Tuesday that this trend was perhaps illustrated most profoundly by the rising swell of offshore project approval activity by operators in 2019. Globally, the amount... Continue Reading →
JANUARY 14, 2020 (Reuters) - With an eye on the growth potential of Brazil's oil industry with the pre-salt, Japanese giant Modec will seek to win at least one or two major platform charter contracts a year in the country, where it bets on technological development to stand out from international rivals. In an interview... Continue Reading →
January 14, 202o Permission was given after meeting operational safety conditions at Polo Pargo The ANP authorized Perenco to resume the operation of Polo Pargo last Friday (10/1). According to the agency, the permission was given after analysis that found the fulfillment of operational safety conditions. Located in the Campos Basin, the hub comprises the... Continue Reading →
Jan 13, 2020 Wind energy is one of the most studied topics in the renewable energy ecosystem. In recent decades, the focus has been on various aspects of land wind turbine modeling and analysis. Especially in Brazil, wind energy has a huge potential that has been researched in recent studies. Led by Professor Alexandre Simos,... Continue Reading →
Jan 13, 2020 The Angra dos Reis Port Terminal (TPAR) is under new shareholding control. Investor Splenda Offshore, which also controls operator BULKPORT at Porto do Forno in Arraial do Cabo, took over the management of TPAR, previously leased by Technip Brasil. For Port Terminal General Manager Robson Rangel, the change in administrative control could... Continue Reading →
January 13, 2020 Pre-Sal Petróleo PPSA, company linked to the Ministry of Mines and Energy, raised approximately R $ 848 million for the Union in 2019. The proceeds refer to the commercialization of the Union's oil and gas portion in production sharing contracts and Equalization. Expenditures and Volumes (EGV) of the Sapinhoá, Tartaruga Verde and... Continue Reading →
FPSO operator BW Offshore has signed an agreement with PetroRio for a one-year extension for the lease and operation of the FPSO Polvo located offshore Brazil. The firm period has been extended from 3Q 2020 to 3Q 2021, with options until 3Q 2022, BW Offshore said last Saturday. The contract has been extended multiple times... Continue Reading →
The energy transition and Extinction Rebellion led the energy news agenda and discussions in company boardrooms in 2019, but the impact on exploration drilling is not yet apparent, according to market research provider Westwood Global Energy Group. Westwood is suggesting keeping an eye on Brazil in 2020 with one high impact well currently drilling and... Continue Reading →
Brazil Energy Insight 