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(Offshore) Subsea 7 has issued updates on its offshore energy activities in its 2Q results review. Subsea 7 has issued updates on its offshore energy activities in its 2Q results review. Offshore China, the company completed work on CNOOC’s Lingshui project using the Seven Borealis and Seven Eagle vessels. In the Norwegian sector, the Seven Arctic installed umbilicals for Aker BP’s Ærfugl Phase 2-Skarv tieback... Continue Reading →
Italian cabling company Prysmian Group has secured a new contract with Petrobras to deliver deep-water electro-hydraulic umbilicals and specialized offshore and logistic services. As part of the contract, Prysmian will provide 200 kilometres of subsea umbilicals using both steel tube and thermoplastic technology for upgrades in brownfield and greenfield projects in Brazil. The €66 million... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider... Continue Reading →
The consortium of companies in charge of the Mero project (Bloco de Libra), announced the investment decision for its fourth phase. Located in deep waters, 180 kilometers off the coast of Rio de Janeiro, the block is located in the pre-salt area of the Santos Basin. The FPSO Mero 4 will have a capacity of... Continue Reading →
Singapore’s Dyna-Mac has secured a fabrication project from a Chinese company for a total provisional contract sum of S$114 million (about $84.3 million). The fabrication project was awarded to Dyna-Mac by China Merchants Heavy Industry (Jiangsu) Co. Ltd. (CMHI). The contract with CMHI is for the supply, fabrication, and construction of topside modules to be executed... Continue Reading →
(PetroNoticias) In preparations for the start of operation of the long-awaited Route 3 gas pipeline, Petrobras launched a new nationwide tender for the provision of services and supply of goods involving the onshore stretch of the line. The activities involve commissioning, pre-operation, departure and assisted operation of the onshore portion of Route 3. The bidding... Continue Reading →
Oil company Enauta informed that it will return the CE-M-661 block, located in the Ceará Basin, after the end of its first exploratory period on site in November this year tothe National Petroleum, Natural Gas and Biofuels Agency (ANP). The company had acquired a 25% stake in the asset in a bidding round held in... Continue Reading →
Dutch FPSO provider SBM Offshore has signed a letter of intent with Petrobras for a 22.5 years lease and operate contracts of FPSO Alexandre de Gusmão for deployment in Brazilian waters. The Libra consortium partners have also made a final investment decision (FID) for the project. The unit will be deployed at the Mero field... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
According to Jim McCaul, Managing Director at IMA/World Energy Reports, Guyana has a huge appetite for FPSOs. Here's a brief 'by the numbers' look: The Stabroek Block covers 26,800 sq km containing multiple prospects and playsThere are 20+ discoveries to date with 9 billion boe estimated recoverable resourcesUp to 10 VLCC-size FPSOs are expected to... Continue Reading →
Brazil Energy Insight 