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(Reuters) - Whether fuel pump prices fall in 2022 depends on two groups of producers who are struggling to increase oil output in the wake of the pandemic: OPEC and its allies and U.S. shale firms. The global oil industry's slow response to the surging demand in 2021 has contributed to soaring energy costs and... Continue Reading →
French energy major TotalEnergies and its partner APA Corporation have recently completed a flow test at an appraisal well in Block 58 offshore Suriname, confirming an excellent quality black oil reservoir, but failed to find commercial hydrocarbons at the latest exploration well there. However, success at their next planned exploration well on the block could... Continue Reading →
Dutch FPSO specialist SBM Offshore has won contracts to perform Front End Engineering and Design (FEED) for an FPSO for Exxon's Yellowtail development offshore Guyana. The FEED contract for what will be Guyana's fourth FPSO, and fourth delivered by SBM Offshore, triggers the initial release of funds by ExxonMobil to begin FEED activities and secure... Continue Reading →
With an important portfolio of projects for the Brazilian market, SBM Offshore is advancing in the construction of three FPSOs for the country. Despite facing logistical challenges caused by the covid-19 pandemic, the Dutch company achieved two important milestones in the works of the platform ships Almirante Tamandaré (Buzios 6) and Alexandre de Gusmão (Mero... Continue Reading →
TechnipFMC has secured a contract by Exxon Mobil Corporation affiliate Esso Exploration and Production Guyana to supply the subsea production system for the Yellowtail development in the Stabroek block. TechnipFMC will provide project management, engineering, manufacturing and testing capabilities to deliver the overall subsea production system. The scope includes 51 enhanced vertical deepwater trees (EVDT)... Continue Reading →
Offshore drilling companies Maersk Drilling and Noble Corp. last week announced they'd merge to form one of the world's largest offshore oil drilling rig companies. Westwood Energy's Terry Childs analyzes the proposed deal and how the combined Maersk/Noble drilling rig fleet stacks up against those of its rivals. The announcement of the merger of Maersk Drilling and... Continue Reading →
Australian oil and gas firm FAR has started drilling at the Bambo-1 exploration well in Block A2, offshore The Gambia. "The Stena IceMax drillship arrived on site on 12 November Gambian time and after completing preparations, has successfully spudded the well," FAR said Monday. The Bambo-1 well sits around 85km offshore The Gambia, in 930... Continue Reading →
Malaysian FPSO supplier Yinson has signed two letters of intent with by Brazilian oil company Petrobras for the charter, operations and maintenance of Integrado Parque das Baleias (“IPB FPSO”), a floating, production, storage, and offloading vessel in the North Campos Basin, offshore Brazil. "The LOIs were issued to Yinson Production Pte Ltd, an indirect wholly-owned... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it signed today a Letter of Intent with Yinson Production PTE Ltd. for the chartering and provision of FPSO services for the Parque das Baleias Integrated Project, to be installed in the Jubarte Field, located in the northern part of the Campos Basin. The FPSO, which stands for... Continue Reading →
(PetroleoHoje) The consortium formed by ExxonMobil (50%), Enauta (30%) and Murphy (20%) should drill the first well in the Cutthroat prospect, in the Sergipe-Alagoas Basin, still in 4Q21. Enauta will invest US$ 8 million in this well. The prospect to be drilled in the SEAL-M-428 block extends to the SEAL-M-351 block, which has the same... Continue Reading →
Brazil Energy Insight 