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(OET) With energy security running the show, multiple new oil and gas projects were sanctioned throughout 2023. Among the top eight are the ones operated by TotalEnergies, Shell, ExxonMobil, Equinor, Woodside, OMV Petrom, and ADNOC. The year, which is now behind us, kicked off with an announcement from TotalEnergies and its partners, Shell and Repsol... 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 →
Offshore drilling company Valaris has secured a multi-year contract for drillship VALARIS DS-4 with Petrobras offshore Brazil following a competitive bidding process. The a 1,064-day contract is anticipated to start late in the fourth quarter 2024, following completion of the rig’s current contract with Petrobras, which is expected to finish in September 2024. Based on... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it put into production the Sepetiba platform vessel, in the Mero field, Libra block, in the pre-salt Santos Basin. This is Mero's third production system, with the capacity to produce up to 180 thousand barrels of oil a day and compress up to 12 million cubic meters of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that together with Equinor Energy do Brasil Ltda. (Equinor) signed the contracts for the Campos Basin Integrated Natural Gas Flow System (SIE-BC) and access to the Cabiúnas Gas Treatment Unit (UTGCAB). With the signing of these contracts, Equinor will be able to transport natural gas from the Roncador field,... Continue Reading →
(OET) The oil and gas industry is always on the lookout for ways to boost production levels at offshore fields and gain access to stranded and untapped reserves that are not easy to bring online. Electrification of subsea production systems (SPS) offers the solution to these long-standing issues and constraints while also enabling decarbonization and... Continue Reading →
Oil and natural gas production in November recorded a volume of 4.698 million barrels of oil equivalent per day (MMboe/d), surpassing the previous record achieved in September, when 4.666 MMboe/d were produced. Regarding oil, 3.678 million barrels per day (MMbbl/d) were extracted, an increase of 3.8% compared to the previous month and 18.8% compared to... Continue Reading →
(OET) TGS has completed a 410-day deepwater node survey campaign offshore Guyana ahead of schedule, setting a record for the longest deepwater node survey. On December 1, the final node recovery marked the culmination of three exclusive ocean bottom node (OBN) surveys commissioned by ExxonMobil Guyana. TGS acquired 2,400 square kilometers of OBN data within... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors has approved the company's operations in São Tomé and Príncipe, a country on the west coast of Africa, enabling the acquisition of stakes in 3 exploratory blocks, through a competitive process conducted by Shell. The transaction is part of the scope of the Memorandum... Continue Reading →
(OE) The first hybrid Platform Supply Vessel (PSV), which uses batteries and diesel for propulsion, has started operating for Equinor in Brazil. With the battery bank installed, the PSV is able to operate with hybrid propulsion, switching between the use of electricity and diesel. This is expected to reduce emissions by up to 40% during... Continue Reading →
Brazil Energy Insight 