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Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, reaffirms its commitment to investments in the Equatorial Margin, as disclosed in its Strategic Plan 2023-2027, recognizing the importance of new frontiers that ensure the country's energy security and the resources necessary for a fair and sustainable energy transition. Exploration in the... Continue Reading →
(Reuters) The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America. Baker Hughes, Halliburton, and SLB are set to post a combined second-quarter adjusted profit of $2.04 billion, according to Refinitiv data,... Continue Reading →
Offshore drilling contractor Transocean has secured a 1,080-day contract for one of its high-specification seventh-generation, ultra-deepwater drillships in the Gulf of Mexico, offshore Mexico. The contract will contribute approximately $518 million in backlog, excluding revenue for mobilization and demobilization, and is expected to start between the fourth quarter of 2025 and the second quarter of 2026. Under... Continue Reading →
Australia’s oil and gas company Karoon Energy has updated its contingent resource estimates for a field offshore Brazil. This is expected to facilitate the technical and commercial feasibility studies for a potential development, which are currently underway. Karoon added the Neon oil discovery option in May 2022 to the rig it hired in April 2021. Following the Patola completion activities, the Maersk Developer rig,... Continue Reading →
Oil and gas companies are set to spend $58 billion on well intervention – a way to extract additional resources from an existing well instead of drilling a new one – in 2023, the Norwegian energy intelligence group Rystad Energy said. Rystad Energy said its modeling showed this is just the start of a surge... Continue Reading →
Offshore drilling contractor Noble Corporation has won a new contract with Petronas Suriname E&P, a subsidiary of Malaysia’s energy giant Petronas, for one of the semi-submersible rigs in its fleet, which is being hired for drilling activities offshore Suriname. According to Noble, this one-well contract, which was awarded for the Noble Discoverer semi-submersible deepwater rig to drill an... Continue Reading →
(Reuters) Guyana's environmental regulator on Wednesday granted an Exxon Mobil-led consortium approval to drill 35 new offshore exploration and appraisal wells as the group looks to expand its production successes in the South American country. The wells will be drilled within the group's 6.6 million acre (26,800-sq km) Stabroek offshore block, where more than 11... Continue Reading →
(Reuters) - Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives. The exploration revival - on the part of European majors in... Continue Reading →
This week has been marked by much activity in the oil and gas exploration segment in Brazil. This time, the news comes from Shell Brasil, which has started drilling a new exploratory well in block C-M-659, in the Campos Basin. The well was called internally by the oil company Suçuarana-1 and is in a water... Continue Reading →
(OE) Offshore drilling rig service and inspection firm ModuSpec has won a contract to support the intake of a stranded new-build jack-up drilling rig. The jack-up was originally constructed in 2020 in Singapore and has remained stranded in the construction yard following the market crash and global pandemic, ModuSpec said. As the upstream oil &... Continue Reading →
Brazil Energy Insight 