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Oil production costs have reached a new low, making deepwater one of the cheapest sources of new supply, according to Norwegian energy intelligence firm, Rystad Energy. A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around... Continue Reading →
Japan’s FPSO provider MODEC has contracted GranEnergia for the provision of its UMS Venus, a semi-submersible accommodation unit also known as flotel, to support its offshore maintenance campaigns in Brazil. GranEnergia said on Thursday that the UMS Venus will provide MODEC with a safe and stable platform, to execute its offshore maintenance campaigns scheduled for... Continue Reading →
Brazilian state-run oil company Petrobras said on Tuesday that 2020 production should exceed previously disclosed estimates, as the firm ramps up production at some of its most prolific offshore oilfields. Petroleo Brasileiro SA, as the company is formally known, said it expects to produce roughly 2.84 million barrels of oil equivalent per day (boepd) this... Continue Reading →
The still challenging scenario imposed by the coronavirus pandemic continues to spill into Petrobras' plans. The state-owned company announced this week that it decided to postpone, to 2021, part of its scheduled platform stops, initially planned for the fourth quarter. The measure is a response to the contingency scenario of Covid-19, which continues to limit... Continue Reading →
Danish offshore drilling company Maersk Drilling has secured more work for its Maersk Voyager drillship with Total in Angola. The contract is for three development wells, to be drilled at Total's offshore Block 17. According to Maersk Drilling, the contract has an estimated span of 140 days. This will keep the Maersk Voyager rig busy contracted until... Continue Reading →
Petrobras' operational performance in 3Q20 was very good, considering the challenging scenario imposed by the COVID-19 pandemic. Our oil and gas production in Brazil grew by 9.0% in the first nine months of this year compared to last year. The production of the pre-salt fields increased by 32%, while in the other areas, post-salt, shallow... Continue Reading →
Ocean bottom seismic company Seabed Geosolutions has won a contract for a baseline 4D ocean bottom node (OBN) survey as well as a future 4D monitor OBN survey in Brazil. The project, for an unnamed client, is to be acquired in water depths greater than 2,200 meters and the baseline survey is scheduled to start... Continue Reading →
Sharing contract oil production was 22,000 barrels / day (bpd) in August, 24% less than in July. The drop is a reflection of the 27-day scheduled stoppage in production at the Mero Development Area for the execution of the 8-inch line disconnection operations. The downturn in Mero production has been occurring since April, as planned... Continue Reading →
After announcing the postponement of the Parque das Baleias Integrated Project for about a year, Petrobras will begin this Monday afternoon the new bidding process for contracting the enterprise's FPSO. The start of delivery of proposals for construction and chartering of the vessel will begin today at 14:00 hours. The calendar foresees that the opening... Continue Reading →
Brazilian oil major Petrobras has postponed the Parque das Baleias integrated project in the Campos basin by about one year. Petrobras said last Friday that it also cancelled the FPSO charter bidding, granting the start of a new bidding process. The operator, citing the economic context of COVID-19 in its decision, now expects first oil... Continue Reading →
Brazil Energy Insight 