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(Reuters) - Europe's thirst for oil and gas to replace sanctioned Russian supply is reviving interest in African energy projects that were shunned due to costs and climate change concerns, industry executives and African officials said. Energy firms are considering projects worth a total of $100 billion on the continent, according to Reuters calculations based... Continue Reading →
(OE) CGX, a Toronto-based oil and gas firm focused on the Guyana-Suriname Basin, has secured funding for its next offshore exploration well in Guyana's Corentyne block by agreeing to farm out a portion of its interest to its partner Frontera. As part of the agreement, CGX will transfer 29.73% of its interest in the Corentyne... Continue Reading →
In 2Q22, we delivered an operating performance fully in line with the Company's plans. Average production of oil, NGL and natural gas reached 2.65 MMboed, 5.1% below 1Q22. This result was mainly due to the beginning of the Production Sharing Contract for the Surplus Volumes of the Transfer of Rights of Atapu and Sepia, effective... Continue Reading →
SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become... Continue Reading →
The company restarted the drilling of the wildcat well ES-M-596, in a water depth of 2,117 meters. As we reported, the original well (1-BRSA-1385-ESS) began to be drilled at the end of June. The drilling of the repeated well, named 1-BRSA-1385A-ESS, began yesterday (19). As the market knows, when the original well is lost, operators... Continue Reading →
Japanese FPSO operator MODEC has seen its new floating production storage and offloading (FPSO) vessel set sail from China to Brazil to work in the pre-salt Santos Basin for the country’s energy giant Petrobras. Converted from a very large crude carrier (VLCC) and delivered by COSCO Shipping Dalian in China, the FPSO Almirante Barroso MV32 started its... Continue Reading →
CRP Subsea has secured several deepwater contracts to provide distributed buoyancy modules (DBMs) in Brazil for undisclosed companies. The distributed buoyancy modules will be used to reduce top tension by maintaining a lazy wave configuration of the pipeline, reducing the risk of pipeline failure and increasing the lifetime of the field, CRP Subsea said. The... Continue Reading →
Brazilian Petrobras has completed the drilling of a wildcat well, located in the pre-salt Campos Basin offshore Brazil, after finding an oil accumulation. The work is now being done to establish the full potential of this play. At the beginning of April 2022, Petrobras revealed that it had found a new oil accuCampos mulation in a wildcat well... Continue Reading →
Prysmian, the Italian energy and telecom cable systems provider, has won two contracts worth approximately €250 million (around $253,3 million) by Red Eléctrica de España, S.A.U., the transmission system operator of the Spanish power grid. The contracts are for the development of two projects: a submarine power interconnection between the islands of Tenerife and La... Continue Reading →
The world market for the supply of underwater Christmas trees should have Brazil as the main stage during this third quarter. In a survey carried out by Westwood Energy, the main contracts of the type expected for the period between July and September should include Shell's Gato do Mato projects in the Santos basin; Maromba,... Continue Reading →
Brazil Energy Insight 