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(OE) Utilization is one of the key barometers of the health of the offshore rig market, as it identifies what percentage of the usable fleet is available versus what is not. While there has been much excitement over the past year regarding rapidly increasing offshore rig utilization (and dayrates), it appears the true extent of... Continue Reading →
Wilson Sons posted net income above R$143 million in the first quarter, 437% higher than in the same period in 2021. The 437% growth in net income benefited from the exchange rate variation in this quarter, as the real appreciated 15%. But even excluding currency effects, the company reported a net income of R$ 80... Continue Reading →
(Reuters) Equinor and Exxon Mobil Corp have taken the first steps to expand an $8 billion oil development off Brazil's coast, the Norwegian oil producer told Reuters. The firms want to boost future production from the Bacalhau oil field, Equinor's largest project outside of Norway with more than 1 billion barrels of oil, the company said. A... Continue Reading →
(PN)French company TotalEnergies notified the National Petroleum Agency (ANP) that it found evidence of oil and gas in block C-M-541, in well 1-TOT-2-RJS, in a water depth of 3,000 meters, in the Campos Basin. The drilling of the well Marolo-1 began at the end of last year. The activity was carried out by the Valaris... Continue Reading →
French offshore seismic data services company CGG said Wednesday that it had recently signed an expanded five-year licensing agreement with the Brazilian oil company Petrobras for Geovation seismic processing and imaging software. CGG said the deal would give Petrobras geoscientists access to advanced technology innovations, including full-waveform inversion (FWI), and significantly enhance their imaging capabilities.... Continue Reading →
Ocyan, a Brazilian company operating in the offshore oil and gas industry, signed a new Petrobras contract for the provision of construction & assembly and maintenance services for the replicant FPSOs P-66, P-67, P-68, P-69 and P- 70. The contractual term is four years, with the possibility of extension for another two years. This new... Continue Reading →
Australia’s oil and gas company Karoon Energy has decided to exercise its option for two additional wells in Brazil to be drilled by one of the Maersk Drilling-owned semi-submersible rigs. The offshore drilling contractor informed on Tuesday that Karoon Energy has exercised options to add the drilling of up to two wells at the Neon field –... Continue Reading →
Scana's Seasystems has secured a contract worth more than NOK 50 million (more than ~$5,16 million) to deliver an anchoring system to an FPSO project in Brazil. Seasystems will deliver mooring equipment such as dual axis chain stoppers, chain handling systems, and winches. The FPSO will be rebuilt. The company did not say who the... Continue Reading →
A setback in a process for contracting rigid risers by Petrobras. The company announced this week that it has canceled the contracting of Engineering, Procurement, Construction and Installation (EPCI) services for subsea rigid lines (SURF). The pipelines would be used in the initiative called “WAG Full Field of the Tupi Field” by Petrobras, which consists... Continue Reading →
(PN) Petrobras' exploratory program for the remainder of the year will have at least three more new wells drilled. The new wells will be drilled in the Andura and Joelho prospects, in the Espírito Santo Basin, and Morfo, in Foz do Amazonas. The company's exploratory program in Brazil includes eight wells throughout the year. Of... Continue Reading →
Brazil Energy Insight 