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Brazilian oil company Petrobras has awarded Italy's Saipem a new contract worth $940 million for the delivery of subsea umbilicals, risers, and flowlines (SURF) for the installation of a rigid riser-based subsea system for a project offshore Brazil. The system will be installed at the Búzios 7 pre-salt field located about 200 km offshore the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has identified the presence of hydrocarbons in the Santos Basin pre-salt, in a pioneer well in the Aram block. Well 1-BRSA-1381-SPS (Curaçao) is located 240 km from the city of Santos-SP, at a water depth of 1,905 meters. The oil-bearing interval was verified through wireline logging and... Continue Reading →
French energy major TotalEnergies is preparing to drill a wildcat well in waters offshore Namibia, using a Maersk Drilling-owned drillship. According to the latest AIS data, the Maersk Voyager drillship departed Luanda, Angola on 14 November and is expected to reach Walvis Bay in Namibia later on Friday. Before heading to Namibia, the drillship worked for... Continue Reading →
Suriname has been described as the next big thing in the offshore oil and gas exploration world, as its proximity to Guyana where ExxonMobil has discovered around 10 billion barrels of oil so far has led oil companies, including ExxonMobil, to hope there's similar riches to be found in the Surinamese waters, too. However, while the... Continue Reading →
(Reuters) - Petroleo Brasileiro SA (PETR4.SA) is expected to commit between $60 billion and $70 billion in capital expenditure (capex)in its next multi-year business plan as Brazil's state-controlled oil company focuses on exploration and production in subsalt areas, two sources said on Thursday. The 2022-2026 Petrobras plan, to be released on Nov. 25, is in the final... Continue Reading →
Subsea 7 has issued an update on its offshore oil and gas/wind projects in its latest results statement. The Subsea and Conventional business unit has been progressing engineering and procurement for the Sangomar, Barossa and Bacalhau oil/gas projects, and has started engineering for TPAO’s deepwater Sakarya gas project offshore Turkey. Offshore Norway, three of the company’s reeling vessels, Seven Vega, Seven Oceans, and Seven Navica, laid... Continue Reading →
Aker Solutions has secured a contract with Petrobras to provide a subsea production system and related services for the Mero 4 project offshore Brazil. Aker Solutions will deliver a subsea production system consisting of up to 13 vertical subsea trees designed for Brazil’s pre-salt, including subsea distribution units, subsea control modules, and master control station for... Continue Reading →
The Biden administration's auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any government offshore lease sale since early 2019. The Department of Interior auction came days after the U.S. joined a global agreement that for the first... Continue Reading →
(TNPetroleo) The Second Round of Bidding for the Excess Volumes of the Transfer of Rights has 11 companies registered and is scheduled for Dec. 17th. Yesterday another company was approved by the Special Tender Committee (CEL): QP Brasil Ltda (Qatar Petroleo). Another ten companies are also eligible for bidding, having been approved at previous CEL... Continue Reading →
An analysis of the annual cost of supply by the Norwegian energy intelligence firm, Rystad Energy, has revealed that costs within the upstream sector have come down considerably in 2021, making new oil more competitive and significantly cheaper to produce. However, Rystad noted that climate policies may fail unless they focus on demand rather than... Continue Reading →
Brazil Energy Insight 