Shares of Tullow Oil and Eco Atlantic fell sharply Wednesday morning after the two companies announced the two discoveries recently struck offshore Guyana contained heavy oil with high sulfur percentage. Tullow announced the two discoveries – Jethro 1 and the Joe-1 in its Orinduik block in August and September, respectively. As previously reported, the Jethro-1 well hit 55 meters... Continue Reading →
Enauta charters Solstad Offshore’s AHTS for Atlanta field
Brazilian oil company Enauta – formerly known as QGEP – has awarded a new contract to Solstad Offshore’s AHTS vessel BOS Turmalina. Solstad Offshore said Tuesday the 2006-built anchor handler would go on a 1,5-year contract with Enauta during the fourth quarter of the year in direct continuation with the current charter. According to... Continue Reading →
Worldwide offshore rig count in October up 37 rigs year-over-year
The worldwide offshore rig count in October 2019 decreased by two units sequentially, but increased by 37 units year-over-year, according to reports by Baker Hughes Company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. Baker Hughes reported on Tuesday that the international rig count for October... Continue Reading →
Talos to have formal Zama resource report by year-end
U.S. oil company Talos will have a formal resource report on its large Zama oil discovery offshore Mexico by the end of the year. Talos made the discovery in 2017 – one of the largest shallow-water finds in decades – and has during the summer completed the appraisal program at the field aimed to better... Continue Reading →
PETRORIO EXPECTS TO REDUCE EXTRACTION COST TO $ 20 THE BARREL BY DECEMBER
Nov 5, 2019 PetroRio expects to reduce its extraction cost to $ 20 a barrel by December. The company closed the third quarter of 2019 at a cost of $ 22.9 a barrel, compared with $ 24 in the second quarter. According to the Brazilian oil company, the reduction of extraction costs was made possible... Continue Reading →
Decommissioning Result For Cação
Nov 1, 2019 The Piauí-Alabama consortium, led by Triunfo Logística, was the winner of the bid to contract the decommissioning of the fixed platforms of the Cação field in the Espírito Santo Basin. The amount presented by the group to provide the service was R $ 38.5 million. The result was announced by Petrobras following... Continue Reading →
Equinor wants to expand production by three to five times in the country and get closer to the supply chain
November 1, 2019 Equinor is the second largest oil company in Brazil in terms of oil and gas production volume. And if it depends on the company's plans, the idea is to further expand these numbers. That's what the company's global supply chain vice president, Mauro Andrade reveals. "We estimate that with the entry of... Continue Reading →
As oil majors eye Brazil’s deepwater, smaller firms seize opportunity
As global oil firms make ever-bigger bets on Brazil’s massive deepwater fields in its ‘subsalt’ area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country’s crude. The proliferation of niche players, ranging from private equity firms to domestic and international... Continue Reading →
New oil auctions will generate demand from 60 platforms, says ANP’s Décio Oddone
October 30, 2019 The new oil auctions to be held by the National Petroleum, Natural Gas and Biofuels Agency (ANP) should generate demand for the installation of 50 to 60 new offshore platforms. The information was highlighted by the director general of the agency, Décio Oddone, during breakfast at OTC Brasil 2019. “All of this... Continue Reading →
Offshore Decommissioning Market to Reach $8.9Bln by 2027
The offshore decommissioning market is estimated to be valued at USD 6.2 billion in 2019 and is projected to reach USD 8.9 billion by 2027, at a CAGR of 4.8% during the forecast period. The global offshore decommissioning market is dominated by leading players that have an extensive regional presence, said ResearchAndMarkets. The leading players... Continue Reading →
