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Hefty financial losses and a depressed oil market fail to sway Brazilian NOC from pursuing ambitious upstream strategy The first half of the year was dire for Brazilian state oil firm Petrobras. The producer posted a combined $10.1bn loss, driven mainly by the oil price shock of Covid-19, currency devaluation and $13bn in impairment charges.... Continue Reading →
Malaysian FPSO provider Yinson has awarded Royal IHC a contract for the supply of a tandem mooring and offloading system and a riser pull-in system for the Anna Nery FPSO. Royal IHC said that the equipment would be placed onto the Anna Nery floating production, storage, and offloading (FPSO) vessel on behalf of Yinson. Continue... Continue Reading →
August 5, 2020 Petróleo Brasileiro S.A. – Petrobras reports that the platforms (P-74, P-75, P-76 and P-77) installed in the Búzios field, in the Santos Basin pre-salt, reached new monthly production records in July, of 615,000 barrels of oil per day (bpd) and 765,000 barrels of oil equivalent per day (boed). The Búzios field, discovered... Continue Reading →
Offshore oil industry supplier Ocyan plans to participate in bids for much bigger platforms than it currently has in Brazilian waters, the world’s largest market for floating platforms, Chief Executive Roberto Bischoff told Reuters. He said Ocyan is eyeing contracts potentially worth hundreds of millions of dollars for deepwater platforms serving state-run oil company Petroleo... Continue Reading →
Aug 4, 2020 Belov Engenharia ordered from the Swedish giant Saab four Leopard work vehicles that will operate in Petrobras' operations in Brazil. The order was booked in the second quarter of 2020. Leopard is a vehicle developed by Saab Seaeye, Saab's underwater robotics division, which is half the size of hydraulic equipment with the... Continue Reading →
July 31, 2020 Petrobras plans to reach 2030 with at least 12 platform vessels in the Buzios field, its crown jewel in the Campos Basin pre-salt. Currently, the area has four units under production, one under construction, three under contract and another four under study. With these new units, the goal of the state-owned company... Continue Reading →
Jul 30, 2020 Petrobrás currently has seven platform ships under construction, scheduled to enter operations between 2021 and 2023. Some of the works have managed to progress well despite the pandemic. Others not so much. This is the case of the FPSO Carioca, which will be installed in the Sépia field, in the Santos Basin.... Continue Reading →
Offshore drilling company Transocean expects its two ultra-deepwater drillships under construction in Singapore to cost it $2,25 billion in total, more than a double on the original order price. Transocean first ordered the drillships - now named the Deepwater Titan and the Deepwater Atlas - on speculation from Sembcorp Marine's Jurong Shipyard in 2014 for... Continue Reading →
Tubular solutions supplier Vallourec has signed contract extensions with Petrobras for the supply of its products and services. Since 2019, Vallourec has been supplying Petrobras with OCTG products, including seamless steel tubes, connections, and accessories, as well as associated services such as offshore inspection, repair, and supervision. The contracts have now been extended until 2023.... Continue Reading →
Apache Corp and its joint venture partner Total on Wednesday said they had made their third oil discovery offshore Suriname. The "major oil discovery" was made at the Kwaskwasi-1 well drilled by the Noble Sam Croft in Block 58, where Apache is operator and holds 50% working interest and Total holds the other 50%. Continue... Continue Reading →
Brazil Energy Insight 