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Petro Services and its main subcontractor Ocean Installer, a marine construction and operations player, have secured a contract with TotalEnergies for umbilical recovery and reinstallation activities on a floating production, storage, and offloading (FPSO) vessel in Angola. The new contract, awarded by TotalEnergies EP Angola and its Block 17 partners, will enable the two players to execute an... Continue Reading →
(PN) After a wait of more than four months, Enauta was finally able to restart production at its main asset, the Atlanta field, in the Santos Basin. The resumption of operations in the area took place on the 5th of November. The field's production was halted in July, due to technical problems in the electrical... Continue Reading →
Two oil and gas players – Canada’s CGX Energy and Frontera Energy – have revealed the well results for a discovery in the Corentyne block offshore Guyana, which serve to further highlight the potential for a standalone shallow oil resource development across the block. According to CGX and Frontera, a total of 114 feet (35 meters)... Continue Reading →
Main achievements: Solid recurring EBITDA of US$ 13.7 billion Gross debt under control at US$ 61 billion, even after the increase in leases with the start-up of FPSO Anita Garibaldi Consistency in cash generation: Operating Cash Flow of US$ 11.6 billion, the fourth highest ever Return to society with tax and dividends payments of R$... Continue Reading →
(TN) Petrobras' P-71 FPSO reached its maximum production of 150 thousand barrels of oil per day, last Wednesday, in the pre-salt Santos Basin. The FPSO-type unit (floating production, storage and transfer system) is the only production platform installed in Itapu, 200 kilometers off the coast of Rio de Janeiro. This field is operated by Petrobras,... Continue Reading →
(OM) Dril-Quip has installed its first 18-inch by 22-inch XPAK-De expandable liner hanger in a deepwater Santos Basin presalt exploration well. Petrobras operates the well for the Sagitario location, in partnership with Repsol Sinopec Brasil and Shell. Dril-Quip describes its XPAK-De range as premium liner hangers that can provide technical ratings beyond those of the liner pipe... Continue Reading →
(Reuters) - Mexican state energy company Pemex and U.S. liquefied natural gas (LNG) company New Fortress Energy (NFE.O) have terminated a deal to develop potentially the country's first deepwater natural gas project that was signed a year ago, two sources with direct knowledge of the matter said. Now Pemex wants to continue with the development of the Lakach... Continue Reading →
(OET) Offshore drilling contractor Valaris has recorded a strong operational and financial performance during the third quarter of 2023, thanks to a rise in rig demand and day rates. The rig owner’s outlook for the offshore drilling market over the next two years remains bullish with further improvements in fleet utilization and day rates on... Continue Reading →
(OE) Oilfield services players Halliburton and Oil States Industries have entered into a strategic collaboration that combines their technologies to provide deepwater managed pressure drilling (MPD) solutions. According to Halliburton, MPD provides operators with improved control when navigating narrow pressure windows compared to conventional drilling and the collaboration between Halliburton and Oil States will provide operators... Continue Reading →
The rise in energy security concerns has reinvigorated the zest for more hydrocarbons, thus, the global oil and gas industry is turning to floating production systems to develop new projects. Bearing this in mind, a new report predicts a further boost in demand, with projected orders reaching up to $173 billion for as many as... Continue Reading →
Brazil Energy Insight 