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(Reuters) - Top oilfield services firm SLB (SLB.N) anticipates oil and gas offshore activity will surpass levels before the COVID-19 pandemic, as strong demand and pricing drive investment into the industry. "We maintain the view that upstream spending is very resilient," Chief Executive Olivier Le Peuch told investors at a conference in New York on Thursday, adding... Continue Reading →
(TN) Equinor Brasil, on behalf of the partners in the Bacalhau project, informs that Seadrill Management has safely started the drilling phase of the field. Drilling activities are being carried out by West Saturn, a rig adapted for subsea depths of up to 3,600 meters. The Bacalhau field is located in the Santos Basin, at... Continue Reading →
(OEM) Carbon capture and storage (CCS) projects in the Gulf of Mexico could play an important role in meeting U.S. greenhouse gas emission reduction goals, however, many challenges remain, according to a report by Wood Mackenzie. There are currently 22 CCS projects in the U.S., accounting for 19% of global activity, with six projects in... Continue Reading →
(Reuters) - Danish energy firm Ørsted on Thursday lifted its profit outlook for the year on the back of high power prices, while third-quarter core earnings slightly lagged expectations on the back of soft performance in its key offshore unit. Ørsted now expects 2022 earnings before interest, tax, depreciation, and amortization, excluding new partnerships of... Continue Reading →
(OE) Sonadrill, Seadrill's 50:50 joint venture with an affiliate of Sonangol, has secured a 12-well extension in Angola for the Libongos drillship at $402,500 per day. The total contract value for the firm part of the deal is around $327 million, inclusive of additional services, Seadrill said. The contract is expected to start in the... Continue Reading →
(Reuters) - ConocoPhillips (COP.N) reported a jump in third-quarter profit on Thursday, extending a string of bumper earnings from global oil producers benefiting from higher energy prices and robust demand, and sweetened its share repurchase plan to $45 billion. The company's larger U.S. rivals Exxon Mobil (XOM.N) and Chevron (CVX.N) have also reported strong results, rekindling calls for energy companies to... Continue Reading →
(OED) Mainstream Renewable Power and Ocean Winds said Wendesdayhave signed the seabed lease agreement with Crown Estate Scotland to the value of £36million for the development of a 1.8 GW floating offshore wind farm off Shetland. The companies were appointed preferred bidder by Crown Estate Scotland during the ScotWind clearing process in August 2022. With... Continue Reading →
(YF) The global net-zero goals set out by the Paris Agreement are still within reach — but achieving them will require a $100 trillion investment, according to a new report by BNY Mellon Investment Management and Fathom Consulting. That amount equates to around 15% of all global investment or 3% of global GDP over the next 30... Continue Reading →
Canada’s CGX Energy and Frontera Energy, partners in the Corentyne block offshore Guyana, have revised the spud window for their second exploration well on this block since the rig, which has been hired to carry out drilling operations, has run into delays on its current assignment. Following positive results from the first well, Kawa-1, Frontera Energy... Continue Reading →
Italian energy industry services firm Saipem said Wednesday it had, in consortium with Bouygues Travaux Publics and Boskalis (BSB), installed and ballasted the Gravity-Based Structures (GBS) foundations for the Fécamp offshore wind farm in Normandy, France. In 2020, the BSB Consortium was awarded the contract for the design, construction, and installation works of the GBS.... Continue Reading →
Brazil Energy Insight 