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ExxonMobil's surprise challenge to Chevron's acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon said on Monday it may exercise pre-emptive rights that could block Chevron... Continue Reading →
Energy and marine consultancy ABL Group has secured a contract by POSH Projects to act as tow master to support and supervise the towage of the Mero 3 FPSO from Yantai in China to Brazilian waters. As part of its scope of work, ABL’s operations in Singapore will provide a tow master to act as... Continue Reading →
(PN) Petrobras took a new step in its exploration program in the Espírito Santo Basin. The company started drilling well 1-BRSA-1391-ESS, in block ES-M-596, in a water depth of 2,100 meters. The activity is being carried out with the Norbe IX drillship, from Foresea, according to information from the National Petroleum Agency (ANP). The ES-M-596... Continue Reading →
(OET( France’s energy giant TotalEnergies is going full steam ahead with its plans to take a final investment decision (FID) for a large oil project in Block 58 off the coast of Suriname by the end of 2024. Following the appraisal of two main oil discoveries – Sapakara South and Krabdagu – in Block 58, combined recoverable resources of close to 700... Continue Reading →
(Reuters) Exxon Mobil Corp said on Monday it may preempt Chevron Corp's acquisition of a 30% stake in a giant Guyana oil block, the centerpiece of its deal for Hess Corp. The companies are in talks on Exxon's claim it has a right to first refusal of any sale of the Stabroek block, a giant field off the coast... Continue Reading →
The platform ship Marechal Duque de Caxias left Yantai, China, today, February 24, heading for the Mero field, operated by Petrobras, in the pre-salt Santos Basin. The platform will start operating in September of this year and has the capacity to produce up to 180,000 barrels of oil and compress up to 12 million cubic... Continue Reading →
(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported fourth quarter 2023 results. President and Chief Executive Officer Anton Dibowitz said, "We continue to execute on our operating leverage by repricing rigs from legacy day rates to meaningfully higher market rates and successfully delivering reactivated rigs with attractive contracts. At the same time,... Continue Reading →
Despite suffering an adjusted net loss of $74 million during fourth-quarter 2023, offshore drilling company Transocean is in the midst of an upcycle, which CEO Jeremy Thigpen presciently predicted in the company’s third-quarter 2023 earnings call. Now it just needs to pay off. After a tough fourth quarter, Transocean expects to see a meaningful increase in demand for “longer-duration... Continue Reading →
U.S. offshore energy industry equipment maker Dril-Quip has been selected to supply the subsea wellhead systems for the Woodside Energy's Trion development offshore Mexico. The Trion project, a greenfield deepwater development, includes 24 wells across two phases. Woodside's decision to use Dril-Quip's BigBore IIe Subsea Wellheads will leverage the system's field-proven sealing technology and 2... Continue Reading →
Today Hexicon AB (publ.) signed a Sales and Purchase Agreement (SPA) to take full ownershipof MunmuBaram Co., Ltd. from its joint venture partner Shell Overseas Investments B.V. Underthe agreement, Hexicon AB will increase its stake in the project from 20 % to 100 %, increasingthe project portfolio by 900 MW. Completion of the transaction is... Continue Reading →
Brazil Energy Insight 