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(Reuters) Guyana's closely watched auction of 14 offshore oil blocks faces a delay with the South American country pushing back the deadline for oil explorers to submit bids to mid-July. The three-month delay is in response to industry feedback and the need for modernizing the country's oil and gas regulatory framework, which is expected to... Continue Reading →
(OE) Dutch FPSO specialist SBM Offshore on Tuesday announced the arrival of the FPSO Prosperity at the Stabroek Block offshore Guyana. The FPSO traveled just over 11,000 nautical miles – or just over 20,000 kilometers - from Singapore to Guyana in just under 50 days. On track for first oil later this year, Prosperity becomes... Continue Reading →
(Reuters) - Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas. Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the... Continue Reading →
Brazilian Ministry of Mines and Energy (MME) is setting the wheels into motion to launch a program, which would step up investments in oil and natural gas exploration to promote regional development and foster national production while making Brazil the fourth largest oil producer in the world. To this end, Brazil’s Minister of Mines and... Continue Reading →
(Bloomberg) -- Jean Paul Prates, the head of Brazil’s state-controlled oil company, isn’t deterred by the world’s energy transition. He says Latin America’s largest producer should keep increasing fossil fuel output for decades to come. “We will get market share,” Prates, chief executive officer of Petrobras, said in an interview in Rio de Janeiro. “We... Continue Reading →
New awards in the floating production storage and offloading vessel market could reach up to 50 by the end of this decade, according to a new report by Rystad Energy. From 2023 to 2030, the Oslo-based market intelligence firm forecasted 48 FPSO deals for new greenfield developments, 19 of which are earmarked for Brazil and... Continue Reading →
(OE) Dutch FPSO leasing company SBM Offshore said Friday that the China-built hull of the FPSO ONE Guyana had entered drydock at Keppel Shipyard in Singapore. One Guyana is one of SBM Offshore's largest-ever FPSO Units and is being built for deployment at ExxonMobil-operated Stabroek Block offshore Guyana. "The FPSO ONE GUYANA project passing... Continue Reading →
U.S. oil and gas company Hess Corporation has opted to implement digital wells using a well construction suite from a compatriot oilfield services giant, Halliburton. Halliburton reported on Wednesday, 22 March 2023, that Hess had selected Halliburton’s DecisionSpace 365 Well Construction applications powered by iEnergy Hybrid Cloud to “plan, design, and construct safe, cost effective, and productive wells.” Nagaraj Srinivasan, senior... Continue Reading →
(Reuters) - Brazil's environmental regulator Ibama has asked oil company Petrobras (PETR4.SA) for additional information on its plan to drill at the mouth of the Amazon river before authorizing Petrobras to test its emergency oil spill response, the agency's president Rodrigo Agostinho told Reuters. The request frustrated the hopes of Petrobras to start the drilling test as... Continue Reading →
(OM) Drilling contracting activity has slowed in March with only a few contracts announced so far this month, according to Evercore ISI’s latest Offshore Rig Market Snapshot. This follows a “busy” February where five drillships and four jackups secured new multi-year terms. This included a new three-year contract from Petrobras for the Valaris DS-8, which was... Continue Reading →
Brazil Energy Insight 