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Japan’s MODEC has awarded Norway’s Aibel a letter of intent (LOI) in connection with MODEC’s supply of a newbuilt FPSO to Equinor for the Bacalhau field in Brazil. MODEC has recently signed a sales and purchase agreement with Equinor to supply a floating production storage and offloading (FPSO) vessel for the Bacalhau (formerly Carcará) field offshore... Continue Reading →
2020 will be a peak year for floating production, storage and offloading unit (FPSO) demand with up to 14 awards forecast in Wood Mackenzie’s base case scenario, half of which will be located offshore Latin America. Only two of these facilities are expected to be Petrobras units; a result of the increasing number of international... Continue Reading →
Ocean Infinity, a seabed survey and ocean exploration company, has launched of a new pioneering marine technology and data company named Armada. Ocean Infinity said that Armada, with a focus on combining technology and sustainability, would initially add fifteen bespoke designed marine robots to Ocean Infinity’s current fleet of autonomous underwater vehicles (AUVs). According to... Continue Reading →
Guyana’s total annual oil revenues could hit $30 billion over the next 10 years with production estimated to reach 1.2 million barrels per day by 2030, according to Rystad Energy. Rystad said on Tuesday that Guyana was poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil... Continue Reading →
Mexican operator Grupo R has signed a contract with Shell for the lease of the La Muralla IV drilling rig to operate in the deep waters of the Gulf of Mexico. Grupo R said on Tueday that the integrated contract model signed with Shell would provide Shell with the drilling rig, as well as the... Continue Reading →
Demand from the world’s top oil companies for floating drilling units is set to rise through 2020 and 2021, according to Norwegian energy research and consultancy firm Rystad Energy. Rystad Energy said last week that the demand from the world’s top oil companies for floating drilling units had climbed steadily in the past two years... Continue Reading →
Dutch FPSO provider SBM Offshore has launched a video of its first completed Fast4Ward FPSO hull arriving in Singapore. As previosuly reported, the hull reached Singapore in mid-January 2019. SBM Offshore said that the Fast4Ward MPF hull had arrived at Keppel in Singapore following its journey of 2,300 nautical miles from the Shanghai Waigaoqiao Shipbuilding and Offshore... Continue Reading →
Feb 1, 2020 Petrobras has already redirected the P-70 to the area where it will be anchored in Guanabara Bay to wait for the necessary authorizations before proceeding to the Atapu field, in the Santos Basin pre-salt. Due to the storm that hit the metropolitan region of Rio de Janeiro on Thursday night (01/30), the... Continue Reading →
The U.S. government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy said on Sunday, after the South American nation's attempt to sell tens of billions of dollars of production rights to private firms last year largely flopped. In November, Brazil, a staunch U.S. ally under far-right President... Continue Reading →
Tullow Oil's Orinduik Block offshore Guyana could hold 5,1 billion barrels of oil equivalent in Gross Prospective Resources, best estimate, according to Gustavson Associates, an independent third-party auditor. This is more than a billion-barrel increase previous estimate of Gross Prospective Resources of 3,981 MMBOE in March 2019, for the 1800km2 block sitting 170 km offshore... Continue Reading →
Brazil Energy Insight 