Brought to you by Quest Offshore & Southern Cone Consultants
The decommissioning market is making a comeback, with new fields of opportunity, and challenges, opening. TSB Offshore President Will Speck shares insights on the path ahead. The level of activity offshore both Australia and Brazil are likely to be similar, he adds, although each has its own challenges. For instance, Australia’s geography imposes logistics challenges... Continue Reading →
Offshore marine transportation firm Harvey Gulf International Marine says it has been able to achieve success in the turbulent offshore market by constantly reinvented itself to fit the industry demands. Most recently, “reinvention” has meant branching out to secure more work in international markets. This is not the first time Harvey Gulf has ventured away... Continue Reading →
In another sign of improving deepwater market conditions, drillship day rates are on-the-rise from Canada to China, judging by a new report by numbers crunchers, Rystad Energy. Although not the only deepwater floaters, drillships are still on order at Asian shipyards, just as drillship day rates approach the $300,000 mark. Continue reading
Norwegian marine survey company EMGS is looking at options after Mexico's Pemex said it wouldn't award any more work "in the medium future" under a contract announced in 2019. EMGS expects the decision will have a "material detrimental effect" on its business. "Electromagnetic Geoservices ASA...has been advised by the customer that the company will not,... Continue Reading →
Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of priority exploration and production projects, the state-owned company's chief executive said. CEO Octavio Romero said on the sidelines of an energy event in Ciudad del Carmen, home to numerous Pemex installations in... Continue Reading →
Italian oil and gas company Eni has made a new oil discovery on the Saasken Exploration Prospect in Block 10, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new discovery may contain between 200 and 300 million barrels of oil in place, Eni... Continue Reading →
The dispute over who will run operations for a major offshore oil discovery in Mexico could eventually come down to the technical opinion of the country's independent oil regulator, according to one of the body's commissioners. Closed-door talks between national oil company Pemex and a private consortium led by U.S.-based Talos Energy over who will... Continue Reading →
Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending. The downturn was the worst to ever hit the offshore sector. Orders for... Continue Reading →
Offshore accommodation provider Prosafe has forecast a tougher year ahead, compared to 2019, expecting a drop in flotel rig fleet utilization and day rates falling. The company on Thursday reported a quarterly net loss of $13.3 million (compared to a loss of 35.7 million in Q4 2018). The flotel provider said it would work on... Continue Reading →
The majority of high impact offshore exploration wells in 2020 will be drilled in Africa and the Americas, Rystad Energy, an energy research group based in Norway has said. Rystad Energy rates wells as high-impact by an assessment of several factors. These involve the size of the prospects, hydrocarbon play-opening potential in frontier or emerging... Continue Reading →
Brazil Energy Insight 