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Pipe producer Tenaris and Subsea 7 have signed an agreement for the supply of pipes and coating services for Bacalhau project offshore Brazil. Equinor is the operator of Bacalhau project, located 185 kilometres off the coast of São Paulo in Brazil. Discovered in 2012, the Bacalhau oilfield sits in the pre-salt area of the Santos Basin at a depth... Continue Reading →
Oil and gas producer Hess Corp on Monday forecast a small drop in output and set a $1.9 billion budget for 2021, most of which will go to Guyana, touted as one of the most important new oil and gas discoveries in the last decade. The company has been relying on its investment in offshore... Continue Reading →
Oil and gas company Tullow Oil is set to start drilling at its Goliathberg Voltzberg North-1 (GVN-1) exploration well, offshore Suriname, targeting 235 million barrels of oil. The news of the drilling operation startup was shared by Tullow's partner Ratio Petroleum. "Ratio Petroleum is reporting that Tullow, the operator of Block 47, has commenced the... Continue Reading →
(Reuters) - Top oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts. Acquisitions of new onshore and offshore exploration licences for the top five Western energy giants dropped to the lowest in at least five... Continue Reading →
Subsea 7 has won a contract from Cabinda Gulf Oil Company (CABGOC) for the Sanha Lean Gas Connection (SLGC) project offshore Angola. Specifically, the project comprises the construction and installation of the Lean Gas Platform (LGP) system in Block-0 off Angola. It takes place at a water depth of approximately 70 metres. Project management and... Continue Reading →
Oil and gas supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn – and just as the industry could finally hope for better days, the Covid-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low of $446 billion, according to Rystad Energy.... Continue Reading →
The United Kingdom, Kuwait, Canada, United States, Colombia top energy intelligence firm Rystad's list of countries that offer the best fiscal conditions for the development of large offshore oil fields. After what has been described as a disappointing year for offshore sanctioning, Rystad expects offshore sanctioning to rebound to at least $56 billion in 2021... Continue Reading →
(CNN Business)The deep-sea oil and gas industry has a vast and costly infrastructure to maintain. Wells, other equipment, and thousands of kilometers of pipeline must be installed, inspected and repaired. Now, cutting-edge underwater drones and robots are being developed that could make the work safer, cheaper and less polluting. Among them is Eelume, a six-meter-long,... Continue Reading →
Eagle Passos, the last of the four new relievers hired to increase Petrobras' flow capacity, concluded this Tuesday its first oil transfer operation, carried out in the Tupi field, in the Santos Basin. The oil, collected from the P-67 and Cidade de Saquarema platforms, was subsequently unloaded from Eagle Passos to an export vessel in... Continue Reading →
Following a conditional letter of the award signed with the French oil giant Total last November for the supply of two offshore drilling rigs in Suriname, Danish offshore drilling firm Maersk Drilling said Monday Total has firmed up the contracts. For Total's Suriname drilling campaign in Block 58, which has so far rather successfully been carried out... Continue Reading →
Brazil Energy Insight 