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A new and very important contract for OneSubsea. The company announced that it signed an agreement that contemplates the installation of 12 underwater Christmas trees in fields that are operated by Petrobras. The contract is valued at between $100 million and $150 million. In addition, OneSubsea is very close to signing another major contract with... Continue Reading →
Petro Rio S.A. (PRIO”), following the Material Fact disclosed on the September 1st, 2022, informs its shareholders and the market in general that, on October 1, 2022, the Company’s Board of Directors approved, and the managements of the Company, as consenting intervening party, and of Dommo Energia S.A (“Dommo”) and Petro Rio OPCO Exploração Petrolífera... Continue Reading →
(OE) Offshore drilling companies Noble Corporation and Maersk Drilling have completed their merger. The transaction concluded through the completion of Noble’s recommended voluntary public share exchange offer to the shareholders of Maersk Drilling. The companies are now operating as a single organization as of October 3, 2022. Noble’s President and Chief Executive Officer, Robert Eifler, said:... Continue Reading →
(OED) Danish offshore drilling firm Maersk Drilling has secured a contract with Shell Brasil for the semi-submersible rig Mærsk Developer in the Campos basin offshore Brazil. The offshore drilling rig will drill one exploration well and perform subsea well interventions at the BC-10 field. The contract is expected to start in March 2023, in direct... Continue Reading →
(Reuters) Capricorn Energy said on Thursday it was ditching its plan to merge with Africa-focused Tullow Oil in favour of a combination with Israel's NewMed Energy, following shareholders' opposition to deal . Under the proposed combination, NewMed unitholders will receive 2.337344 new Capricorn shares for each unit held, the companies said in a joint statement A special... Continue Reading →
(U) US supermajor ExxonMobil expects oil and natural gas will remain an important part of the energy mix in the decades to come, in order to meet an expected rise in energy demand around the world. Third-party studies estimate that $13 trillion of new oil and gas investments will be required by 2050 to meet... Continue Reading →
(U) After years of uncertainty and stagnation, the offshore drilling market is making a comeback in 2022, with demand for rigs rebounding around the world. Brazil, one leg of the “golden triangle” of offshore oil and gas — the other two being the Gulf of Mexico and West Africa — is expected to lead rig... Continue Reading →
Brazilian oil company Petro Rio has signed a deal with TotalEnergies for the acquisition of a 40% interest in the BM-C-32 Block (“Itaipu Field” or “Itaipu”). Together with the 60% interest in Itaipu acquired from BP in July 2021, this transaction will bring Petro Rio's interest to 100% of the concession after the acquisition is... Continue Reading →
(Reuters) - Spanish power company Iberdrola (IBE.MC) hired Barclays' (BARC.L) investment bank to sell up to 49% in a portfolio of Spanish renewable power projects, Expansion newspaper reported on Monday, citing unidentified market sources. Iberdrola is considering selling a stake in a series of wind and solar power projects, most of them still in development, with a total capacity... Continue Reading →
VAALCO Energy said Monday that the Government of Equatorial Guinea has approved the Venus - Block P Plan of Development (“POD”). VAALCO has an 80% participation interest in the project and is the operator. Upon the execution of final documents, VAALCO will proceed directly to project execution, which targets first oil in 2026 and adds... Continue Reading →
Brazil Energy Insight 