Petrobras on receiving compensation for Atapu

Petróleo Brasileiro S.A. – Petrobras informs that it received today, at sight, the amount of R$ 5.26 billion from Shell Brasil Petróleo Ltda. - Shell, referring to  its share of 25% in the compensation for Atapu, a block acquired by the consortium composed by Petrobras (52.5%), Shell (25%) and Total Energies EP Brasil Ltda. -... Continue Reading →

Sonangol selects bidders for divestments

(PE) Angolan NOC selects preferred bidders—with exclusive acquisition rights—to buy partial stakes in six blocks, four of which are already in production Angola’s Sonangol called last year for bids on portions of its equity shares in various blocks and has been evaluating the results since September. The NOC has now selected preferred bidders for its... Continue Reading →

MISC’s Brazil FPSO project closely watched

(TE) MISC Bhd’s maiden foray into the deep-water floating production, storage and offloading (FPSO) segment of the oil and gas (O&G) industry in Brazil will be closely watched this year. According to S&P Global Ratings, any potential delays and cost overruns on the Mero 3 FPSO project could weigh on its credit rating in the... Continue Reading →

MODEC’s Brazil-bound FPSO to get training simulator for critical operating procedures

(Offshore Energy) Japan’s FPSO provider MODEC has hired Inprocess, a Spain-headquartered process simulation services and consulting company, for the provision of a new Emulated Operator Training Simulator (OTS) solution for a floating production storage and offloading (FPSO) vessel bound for Brazil. Inprocess reported last Friday that it had been awarded a deal for the development... Continue Reading →

Hunting Wins Work at Exxon’s Yellowtail Project Offshore Guyana

(OE) Oilfield services group Hunting has won a contract to provide titanium stress joints for ExxonMobil's Yellowtail oilfield development project in the Stabroek Block offshore Guyana. Hunting said its Direct Pull-Through installation methodology is intended to simplify installation and enhance safety during project execution. “Hunting is extremely excited for the opportunity to use our worldwide,... Continue Reading →

South America’s Newest Oil Boom Is Gaining A War Time Boost

President Joe Biden’s decision to ban Russian energy imports to the U.S. is boosting the outlook for South America’s newest oil-producing nation Guyana as well as neighboring Suriname. The deeply impoverished microstates share the offshore Guyana-Suriname Basin where global energy supermajor ExxonMobil with its partners has made a slew of quality petroleum discoveries in offshore Guyana’s Stabroek... Continue Reading →

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