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(OE) Oil and gas company Global Petroleum said Monday that the Namibian Ministry of Mines and Energy had given approval for the company and its partners to proceed to the First Renewal Period ("FRP") of Walvis Basin license PEL 94, with a duration of two years from September 2023 to September 2025. The work commitment... Continue Reading →
(OM) A vast majority of operators and developers are investing in autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs) as they seek to optimize production, decrease emissions and enhance safety during operations. In a recent interview with Offshore, Oceaneering’s senior vice president of business development and chief commercial officer, Earl Childress, said, “Remote operations are continuously evolving... Continue Reading →
(Reuters) - Frontera Energy (FEC.TO) and its unit CGX Energy (OYL.V) expect to complete an analysis in the next two to three months of the Wei-1 oil well in Guyana before deciding whether to upgrade an exploration license to its development phase, Frontera said on Friday. The Frontera-CGX group could become the next oil consortium to advance an oil... Continue Reading →
SBM Offshore announced to the market this week its financial and operational balance sheet for the first half of the year. One of the main highlights of the report concerns the updates in the works of three FPSOs ordered by Petrobras (Sepetiba, Almirante Tamandaré and Alexandre de Gusmão). In these three projects, the company is... Continue Reading →
(C) The first platform with fully electrified (all-electric) combined cycle systems in the country will be installed off the coast of Espírito Santo in 2025, announced Petrobras, the project will allow greater operational efficiency, in addition to reducing greenhouse gas emissions. The confirmation of the platform, called FPSO Maria Quitéria, which will be located in... Continue Reading →
(OET) Offshore drilling contractor Valaris Limited and its wholly-owned subsidiary, Valaris Finance Company LLC, have disclosed a pricing of $400 million upsized private placement of additional 8.375 per cent senior secured second lien notes due 2030. The net proceeds of this offering will be used to finance the purchase of two Daewoo Shipbuilding & Marine... Continue Reading →
(OET) Brazilian oil and gas player Enauta has concluded the drilling and completion of another well in its drilling programme at a field offshore Brazil. In addition, the firm has started drilling activities at the last well in this drilling campaign. Back in November 2022, Enauta started drilling its first well, 7-ATL-5H-RJS, in this drilling campaign at the Atlanta... Continue Reading →
Petrobras started contracting process for FPSO for the Barracuda and Caratinga Field Revitalization Project, another important milestone in the Campos Basin revitalization plan. The announcement was published on the Petronect portal last Friday (04/08). The new FPSO will have the capacity to produce up to 100 thousand barrels of oil per day (bpd) and process... Continue Reading →
Baker Hughes’ international rig count report shows a boost in the number of offshore rigs in July 2023, as 6 additional units were recorded compared to the month before. On the other hand, the total number of international rigs saw a drop in activity, falling to 961 from 967 units in June 2023. Following a decrease of... Continue Reading →
(Reuters) APA Corp. said on Wednesday its most recent appraisal well in Block 58 off Suriname's coast confirmed the extension of oil resources 14 kilometers from the discovery well. APA's exploration in Suriname has been closely watched as it could become Suriname's first commercial deepwater project. Massive discoveries and fast-growing oil production in neighboring Guyana... Continue Reading →
Brazil Energy Insight 