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(Reuters) State-run oil firm Petrobras has begun studies for the implementation of a new oil platform in Brazil's Buzios field, three sources with knowledge of the matter told Reuters. Each Buzios platform has an average cost of $3.5 billion, said a source, adding that the one under study would be a FPSO (floating production storage... Continue Reading →
(offshore-mag.com) Global expenditure on subsea facilities is set for a 10% compound annual growth rate (CAGR) from 2024 to 2027, according to research by Rystad Energy. The consultants project a total capex spend for the period of more than $42 billion. Some of the biggest investments are taking place in South America and Europe. In... Continue Reading →
(Reuters) - An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. Its... Continue Reading →
(PN) SBM Offshore has completed a new stage in the construction of FPSO Alexandre de Gusmão, which will be installed in the Mero field, in the pre-salt layer of the Santos Basin. The Dutch company announced this week that the lifting campaign for the vessel's topside modules was successfully completed. Integration and commissioning activities continue... Continue Reading →
(PN) Earlier this month, the Brazilian Institute of the Environment (Ibama) issued a license authorizing Petrobras to begin a 4D seismic survey with nodes in the Buzios field, in the pre-salt layer of the Santos Basin. The survey may be conducted using one of the seismic source vessels: Artemis Arctic or Artemis Odyssey. In addition,... Continue Reading →
(offshore-energy.biz) U.S. offshore engineering and construction player McDermott has been tasked with putting all the pieces in place for the development of a gas project off the coast of Trinidad and Tobago, thanks to an engineering, procurement, construction, installation (EPCI), hook-up, and commissioning contract with Shell Trinidad and Tobago Limited, a subsidiary of the UK-headquartered... Continue Reading →
(Oilnow.gy) Suriname’s state oil company Staatsolie is set to plug US$1.8 billion in the nation’s first offshore oil project, according to the company’s 2023 annual report. Staatsolie could participate with up to 20% stake in the Block 58 field development. Its Managing Director, Annand Jagesar, told OilNOW that it intends to exercise this option. “We fully... Continue Reading →
(PN) Halliburton announced today (8) that it has been contracted by Petrobras to provide a range of services in Brazil for integrated interventions and decommissioning of offshore wells. The commercial agreement is expected to begin in the second quarter of 2025. It will be a major new contract for the company, as it will cover... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras has obtained environmental licenses to expand production in two offshore fields, and could have one vessel start production earlier than expected in one field, three people with knowledge of the matter told Reuters. The licenses will allow Petrobras to increase production in the Mero and Buzios fields, with Buzios... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has appointed a new "super manager," Wagner Victer, tasked with boosting capital expenditure, to meet demands from Brazil's President Luiz Inacio Lula da Silva, sources said. Lula considers Petrobras an engine for job creation and development, but the company has faced hurdles to invest in the past year... Continue Reading →
Brazil Energy Insight 