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(PetroleoHoje) Petrobras started drilling a wildcat well in the Dois Irmãos block, in the pre-salt layer of the Campos Basin, last Friday. The Ocean Courage rig drilled in a water depth of 2,769 m. The unit was also used to drill the Alto do Cabo Frio Central wildcat well, in the pre-salt layer of the... Continue Reading →
(Reuters) - Petroecuador, Ecaudor's state-owned oil company, on Friday said it will look to double production to 800,000 barrels of oil equivalent per day (boed) in the next five years, which will need private sector investment worth some $12 billion. To achieve the goal, Petroecuador hopes to team up with private-sector oil companies via consortia... Continue Reading →
(PetroleoHoje) Petrobras obtained the environmental license from Ibama for the project to revitalize the Marlim and Voador fields, in the Campos Basin. The authorization is valid for five years. TechnipFMC will be responsible for supplying up to eight manifolds for the project, while NOV and Baker will supply 448 km of flexible lines – 280... Continue Reading →
(OE) U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (“SPO”), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create the industry’s largest fleet of offshore support vessels with 203 vessels in total, including crew boats, tug boats, and... Continue Reading →
(OM) Twenty-eight major subsea production equipment contracts were awarded in 2021 according to Wood Mackenzie. This represented an increase of three over 2020, but still down from the record 54 contracts issued in 2019. Higher construction vessel utilization rates coupled with moderate cost inflation will lead to day rates rising by 5-8% year-on-year through 2026,... Continue Reading →
(PetroleoHoje) TechnipFMC started the interconnection campaign of the first well of the Mero 1 system to the FPSO Guanabara. The company concluded the work of loading the first batch of rigid lines of the project on the launch vessel Deep Blue from the spoolbase in Porto do Açu, in São João da Barra (RJ), installed... Continue Reading →
OneSubsea, the subsea technologies division of Schlumberger, has contracted Vallourec to supply upset riser joints for the Bacalhau project offshore Brazil. The contract was awarded on behalf of Subsea Integration Alliance, a strategic global alliance between Subsea 7 and OneSubsea. Under the contract, Vallourec will supply 3,000 metres of upset riser joints equipped with VAM... Continue Reading →
(Reuters) - Engineering firm Subsea 7 (SUBC.OL), a major supplier to the oil industry, has decided to pay a regular dividend and buy back stock as it swung to a full-year profit in 2021 and its outlook improved, the company said on Thursday. Subsea 7 said it "firmly" believed that the market recovery was underway based... Continue Reading →
Demand for specialized installation vessels has soared over the past year in response to the growth of the offshore wind energy market, as turbines get larger and project size increases in scale and scope. According to Westwood Global Energy Group, in Europe the average size of turbines currently under construction is 9.3 MW. However, 20-MW... Continue Reading →
(Offshore Energy) Houston-based Vaalco Energy has confirmed progress in its activities offshore Gabon, with a field reconfiguration and replacement of existing floating production, storage and offloading (FPSO) unit with a floating storage and offloading (FSO) vessel still on schedule, the latter being targeted for the third quarter of 2022. Back in August 2021, Vaalco signed... Continue Reading →
Brazil Energy Insight 