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(PN) New numbers point to an increase in well drilling activity in Brazil. The National Petroleum Agency (ANP) revealed new data forecasting investments in exploration in Brazil. According to the regulatory body, oil companies located in the country must spend US$1.96 billion on exploration during the year 2024. Well drilling is the activity that will... Continue Reading →
(OE) Singapore’s Offshore Frontier Solution – a joint venture between MODEC and Toyo Engineering Corporation – has awarded ABB a contract to deliver a complete electrical system and associated digital solutions for Errea Wittu floating production storage and offloading (FPSO) unit. Errea Wittu FPSO will be operated approximately 200 kilometers off the coast of Guyana... Continue Reading →
(OE) Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries. After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job. The technologically advanced drillship is capable of operating at water depths of up to... 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 →
(Reuters) Guyana said it expects to receive some $2.1 billion from oil exports and $320 million from royalties this year as crude production continues to rise, an increase from the $1.62 billion received in 2023. The South American nation's gross domestic product is expected to increase by 34.3% in 2024, the fifth consecutive year of... Continue Reading →
(OET) Offshore drilling contractor Stena Drilling has confirmed that one of its drillships is on its way to Las Palmas to start its special period survey (SPS). According to Stena Drilling, the Stena Carron drillship has headed to Las Palmas to start its SPS. The company looks forward to the rig’s return to Guyana, where it will... Continue Reading →
(Reuters) - Shell (SHEL.L) is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion.The British energy giant pioneered Nigeria's oil and gas business beginning in the 1930s. It has struggled for years... Continue Reading →
(PN) Petrobras, Shell Brasil, TotalEnergies, CNPC and CNOOC and the Federal University of Rio Grande do Sul (UFRGS) kicked off a series of studies that aim to map the offshore wind potential of the pre-salt region. The first data relating to the study is being collected in the Buzios field, and the work will soon... Continue Reading →
(TN) Constellation and HMH announced this Thursday, January 11, the signing of an integrated maintenance support contract for Blowout Preventers (BOPs) for the semi-submersible drilling platforms Alpha Star, Gold Star and Lone Star. The Contractual Services Agreement (CSA) will last for five years, with an option for extension. The partnership model is unprecedented in Brazil... Continue Reading →
(OE) ExxonMobil Guyana has unveiled that the Prosperity floating production storage and offloading (FPSO) unit, used in the Payara project, achieved background flare in 39 days, ahead of the 60-day target. Achieved ahead of schedule outlined in the project’s environmental permit, the accomplishment marks a significant milestone in the company’s commitment to efficient and environmentally... Continue Reading →
