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(OM) The Guyana-Suriname basin has seen significant activity in recent years, with Guyana alone unearthing more than 13 billion barrels of oil equivalent (boe) of discovered volumes in the past decade. As operators in offshore Guyana continue to explore and develop its resources, the focus on its coastal neighbor, Suriname, is growing. Rystad Energy analysis forecasts... Continue Reading →
Foresea, a leader in the offshore drilling sector, announced excellent results it obtained in 2024, having achieved an adjusted EBITDA margin of 37% and operating cash generation of over US$ 130 million in the period. In December, the company won a new three-year contract for the Norbe IX drillship — within the Sepia-Atapu consortium. With... Continue Reading →
(OE) Constellation, a major offshore oil and gas drilling services provider in Brazil, operating 22% country´s offshore drilling rigs, has outlined its plan to list the company’s shares Euronext Growth Oslo. Constellation, with 1,800 employees and a 45-year track record, is currently in the first quartile of Petrobras’ ranking of drilling contractors, operating all its... Continue Reading →
(OE) The Agogo floating, production, storage and offloading (FPSO) unit is ready to set sail from Chinese shipyard to Azule Energy’s development offshore Angola. Yinson Production has officially named the Agogo FPSO at a grand naming and sail away ceremony held at Cosco Shipping Heavy Industry (Shanghai) shipyard in Shanghai, China. The vessel is now... Continue Reading →
(Reuters) Brazil's Brava Energia will connect four more wells to its Atlanta field in the first half of 2025, as it starts shipping oil to commodity trading firm Trafigura under a supply deal for six million barrels. That will bring the total number of wells connected to its floating production storage and offloading unit (FPSO)... Continue Reading →
(Reuters) Dutch oil and gas services firm SBM Offshore's annual revenue jumped 35% to a record high in 2024, driven by the sale of its floating production, storage and offloading vessels (FPSO) in Suriname and Guyana, the company said on Thursday. SBM Offshore's shares rose 9.3% to 20.04 euros at 0851 GMT, their highest in... Continue Reading →
(TN) According to recent data released in the Oil and Natural Gas Production Bulletin of the National Petroleum Agency (ANP), four FPSOs operated by MODEC are among the 10 largest producers in Brazil. The FPSO Guanabara MV31 stood out as the main oil and gas producer in 2024, maintaining the position it achieved in 2023.... Continue Reading →
(offshore-energy.biz) UK-headquartered and AIM-listed company Afentra has confirmed that hydrocarbon production from a block off the coast of Angola has been offset by a growth in reserves based on the latest Competent Person’s Report (CPR) for Block 3/05, conducted by ERC Equipoise (ERCE). Following its entrance into Angola in May 2023, the company disclosed a sale and purchase agreement (SPA)... Continue Reading →
(Reuters) Guyana and the Dominican Republic are making progress on accords for offshore oil and gas exploration and to build a fertilizer plant and potentially a refinery in the South American country, Dominican President Luis Abinader said on Tuesday. The countries signed a memorandum of understanding in 2023 to work on energy projects. The Caribbean country is interested in exploring Guyana's... Continue Reading →
(Reuters) The fourth floating production facility to be operated by a consortium led by Exxon Mobil in Guyana has departed from Singapore on its route to the South American country's waters, according to a company executive and LSEG vessel tracking data seen on Tuesday. Once the floating production storage and offloading (FPSO) vessel is installed,... Continue Reading →
Brazil Energy Insight 