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Oil and gas producer Wintershall Dea swung to a loss last year, hit by significant impairments and losses related to Russia's war in Ukraine, it said on Thursday. Wintershall reported a group net loss of 4.8 billion euros ($5.1 billion), including 7 billion euros in one-off, non-cash losses related to its Russian upstream and associated midstream... Continue Reading →
Chinese subsea cable manufacturer ZTT Submarine Cable & System has secured a cable design and supply contract with Hokchi Energy, the Mexican subsidiary of Pan American Energy, for a field located in the Gulf of Mexico. The contract covers the design, supply, delivery, and testing of 33.3 kilometers of submarine power cable and spares for the Hokchi... Continue Reading →
(Reuters) - After the market imposed a sky-high rate on bonds Pemex issued in January, Mexico's state oil company is preparing to pay its debts on its own this year and will turn to the government - rather than the market - for help if oil prices plunge, two sources told Reuters. The strategy comes... Continue Reading →
Talos Energy Inc., a U.S.-based offshore oil and gas producer, has completed its previously announced acquisition of EnVen Energy Corporation ("EnVen"). Talos, which owns oilfields in both the U.S. side and the Mexican side of the Gulf of Mexico, first said in September 2022, that it would buy EnVen, a private operator in the deepwater... Continue Reading →
Offshore drilling contractor Borr Drilling has secured more work for three premium jack-up rigs, thanks to a new deal and two contract extensions, which increase the company’s firm backlog by approximately 625 days, excluding unexercised optional periods. Borr Drilling disclosed on Monday, 13 February 2023, the award of a new contract for the Ran jack-up rig with Fieldwood... Continue Reading →
By David Boggs, Energy Maritime Associates (OM) The floating production construction market continued to grow in 2022, maintaining a rebound that began in 2021. As we enter a new year, the industry sentiment remains buoyant, with most respondents optimistic about the future. Recently, Energy Maritime Associates conducted its tenth annual Global Floating Production Industry Survey, which... Continue Reading →
Offshore engineering company DORIS has secured a contract with the Spanish oil firm Repsol for subsea engineering work for a project offshore Mexico. DORIS said Tuesday that the contract was for the execution of concept engineering of the Subsea Production System (SPS) and Subsea Umbilical, Riser, and Flowline (SURF) for the Block 29 development in... Continue Reading →
(Reuters) - Mexico's government will provide further support to state-run oil company Petroleos Mexicanos (Pemex) and has a plan to ensure that pending bond payments in 2023 are met, President Andres Manuel Lopez Obrador said on Friday. Pemex's debt obligations are being paid on time with the government's assistance, and the finance ministry and Pemex's... Continue Reading →
(OM) Woodside Energy has reaffirmed its goal of taking a final investment decision this year on the deepwater Trion oilfield development offshore Mexico. Toward the end of last year, the partners issued competitive tenders for drilling rig, subsea equipment and installation scopes for the subsea facilities, floating production unit (FPU), and the floating storage and offloading vessel. In... Continue Reading →
(Reuters) - Mexican oil and gas companies, including state giant Pemex, are lagging behind on their obligations to identify, report and mitigate methane emissions from their installations, an investigation by a group of non-profits found. Methane, a potent greenhouse gas that traps heat in the atmosphere, has emerged as a top threat to the climate.... Continue Reading →
Brazil Energy Insight 