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In 3Q22, Petrobras kept a solid operating performance, with average production of oil, NGL and natural gas reaching 2.64 MMboed, virtually in line with 2Q22. Results in 3Q22 fully contemplate the impacts of the production sharing contracts related to the Transfer of Rights Surplus Volumes of Atapu and Sepia - which became effective on May... Continue Reading →
(Reuters) Portuguese oil and gas company Galp Energia reported a 16% increase in adjusted third-quarter profit on Monday, thanks to soaring oil prices and a near-doubling of its refining margin. Oil and gas companies around the world received a boost after Russia's invasion of Ukraine sent energy prices soaring just as demand was rapidly recovering... Continue Reading →
Norwegian DOF Subsea has secured a three-year contract for two multipurpose support construction vessels (MPSVs) with Esso Exploration & Production Guyana. DOF Subsea will perform inspection, maintenance, and repair (IMR), well-intervention support, and light subsea construction activities to support the “growing” subsea infrastructures in the Stabroek Block offshore Guyana. The two MPSVs, featuring 250-ton AHC cranes and work-class... Continue Reading →
Brazil on its journey to increase oil and gas production. The country achieved an important achievement in September, when it produced 4.048 million barrels of oil equivalent per day – a value that represents 3.148 million barrels of oil and 143 million cubic meters of natural gas. This was the second time in its entire... Continue Reading →
A new research project, launched this week today, aims to extend the use of offshore wind monopile foundations, to support larger turbines in deeper waters, global climate consultancy the Carbon Trust has informed. "Monopiles are the cheapest and most widespread offshore wind turbine foundation, however, they experience structural issues as their length and the weight... Continue Reading →
(OM) Yinson Production has ordered two large API 610 OH2 pumps from Amarinth for use on the FPSO Atlanta. Brazilian operator Enauta recently concluded the purchase of an FPSO for its Atlanta Field in the Santos Basin. This will operate in water depths of 1,500 m and is being adapted by Yinson Production from the existing FPSO OSX-2 under an EPCI contract. Dubai Drydocks World... Continue Reading →
(Reuters) Oilfield service firms are poised to deliver the strongest third-quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts. Schlumberger, Halliburton, and others have struggled to regain pricing power after a 2016 price drop. The oil market crash during the pandemic... Continue Reading →
(WO) Equinor has become the first oil and gas operator to utilize a rolling ultrasound scanner to reveal the internal state of concrete structures that are part of offshore platforms. The operation was performed at one of Equinor’s platforms on the Norwegian continental shelf. It is part of Equinor’s strategy to increase effectiveness, speed of... Continue Reading →
(Reuters) Guyana has called for proposals to design, finance and build a 30,000-barrel-per-day (bpd) oil refinery, the first for the South American country as it becomes a force in crude oil production. Construction work on the facility, to be located on public land near the Berbice river, is expected to begin by the first half... Continue Reading →
The FPSO P-71 left the Jurong Aracruz shipyard, in Espírito Santo, and headed for the Itapu field, in the Santos Basin. The vessel will be able to produce up to 150,000 barrels of oil and 6 million cubic meters of gas daily. In addition, the P-71 will be able to store 1.6 million barrels of... Continue Reading →
Brazil Energy Insight 