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Spanish oil company Repsol has found good quality reservoir at its exploration well offshore Guyana but both targets are water-bearing and the well has been plugged and abandoned. The Beebei-Potaro exploration well was drilled in the Kanuku licence, offshore Guyana. The licence is operated by Repsol with a 37.5 per cent interest with Tullow Oil holding... Continue Reading →
(Reuters) - SBM Offshore (SBMO.AS) on Thursday revised its annual guidance upwards as the Dutch oil and gas services firm sees the transition to renewable energies from fossil fuels benefiting its project portfolio, sending its shares higher. The group, which plans to achieve net-zero emissions by no later than 2050, set intermediate greenhouse gas-related targets as the... Continue Reading →
Energy intelligence group Westwood is seeing a rebound in high-impact exploration this year with expectations for it to pick up in the second half and deliver up to 90 wells by year’s end, the highest level since 2019. In a report on Wednesday, Westwood said that 38 high-impact exploration wells were drilled in the first half of 2022, similar... Continue Reading →
Offshore staff (OM) For the month of July, oil and gas discoveries were announced across five offshore regions: the Far East, Middle East, North Sea/Barents, South America, and the US Gulf of Mexico, Esgian reported Aug.2. These regions accounted for seven discoveries. The analyst firm said floating rigs led the way, drilling five of the... Continue Reading →
(OM) Prosafe, an owner and operator of semisubmersible accommodation vessels, said its fleet utilization rate in second-quarter 2022 was 81% (Q2 2021: 65.8%), with five out of seven vessels in full operation throughout the quarter, according to the company's latest quarterly results report. Safe Boreas was working part of the quarter while Safe Scandinavia remains idle. This is the highest... Continue Reading →
(TN) The average monthly production of 616,000 barrels of oil per day (bpd) achieved in June at the Búzios Field, in the pre-salt layer of the Santos Basin, is the highest monthly average volume recorded in this field since the beginning of its operation in April 2018. According to Petrobras, the total represents an operational... Continue Reading →
– Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), informs its shareholders and the market in general of the start of production of the 7-FR-55H-RJS (“MUP3A”) well in the Frade Field (“Field” or “Frade”), with average initial production of approximately 3,500 barrels of oil per day, increasing the Company’s production to 52,000 barrels per day.... Continue Reading →
TechnipFMC has won a contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) for the gas-to-energy project offshore Guyana. Subject to final project sanction, TechnipFMC will provide engineering, procurement, construction and installation (EPCI) of subsea risers and pipelines. The project will connect the production from Liza Destiny and Unity back to shore, delivering associated gas from... Continue Reading →
Dril-Quip achieved revenue of $94 million in second-quarter 2022, up $10.8 million from the first quarter, and driven by improved subsea equipment and downhole products and services results. President and CEO Jeff Bird said the figures reflect the improving offshore drilling market and a focus on controlling costs while improving margins Downhole Tools experienced broad growth across all geographies,... Continue Reading →
(Rigzone) Drilling and completion activity in South America is expected to peak this year after a significant slowdown in 2020 due to the global demand destruction brought on by the Covid-19 pandemic, Rystad Energy claimed. According to Rystad, the rebound is more pronounced for offshore wells, primarily driven by an uptick in activity in Brazil... Continue Reading →
Brazil Energy Insight 