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Hess Corporation’s investment in Guyana’s offshore Stabroek Block has resulted in the company emerging as the best-performing US oil firm this year and, along with its partners, it is poised to reap US$22 billion ($4.5 trillion) in profits from its initial two projects here, the Wall Street Journal (WSJ) reported yesterday. “Hess Corp. has emerged... Continue Reading →
The UK-based oil firm is operating the project with a 60 percent stake, with the remaining 40 percent currently held by Rockhopper exploration. The company has been in talks to secure a loan to fund the development of the first phase of the 250 mmboe (gross) of resource in Phase 1 of the Sea Lion... Continue Reading →
Aug 21, 2019 PGS plans to initiate in February 2020 a 3D seismic survey in the Sergipe-Alagoas Basin. Called Pirambu NE, the program foresees the acquisition of data in an area of 11,272 thousand km² in a minimum water depth of 500 m and a minimum distance of 32 km from the coast of the... Continue Reading →
AUG 21, 2019 Seadrill believes there will still be business opportunities for its PLSVs whose contracts with Petrobras are coming to an end this year. According to its CEO, Anton Dibowitz, the entry of new IOCs in the Brazilian market is contributing to its recovery. The company currently operates five submarine launch vessels for Petrobras... Continue Reading →
Subsea contractor Frontera Offshore has entered into an exclusive collaboration with DOF Subsea for the Mexican market. The alliance is intended to leverage the local presence and track record of Frontera with the specialized vessels, engineering capabilities and subsea survey and installation experience of DOF Subsea. The Mexican offshore market is expected to see unprecedented... Continue Reading →
Norwegian oil company Equinor has entered an offshore exploration partnership with Argentina’s YPF for work in the CAN 100 block. Equinor and YPF representatives have signed a preliminary agreement setting core terms and conditions for YPF’s transfer of 50% of its share in the CAN 100 offshore block to Equinor. Tim Dodson, Equinor’s executive vice... Continue Reading →
Aug 19, 2019 The offer of 15 exploratory blocks in the SC-AR4 sector in shallow waters of the Campos Basin may attract the interest of independent oil companies registered in the Permanent Offer. The blocks are near the fields of Polvo, operated by PetroRio, and Peregrino, operated by Equinor, which is not registered in the... Continue Reading →
The Brazilian oil and gas regulator ANP has granted BW Offshore the oil and gas operator status in Brazil. ANP has also approved the transfer of Chevron and Petrobras’ participating interest in the Maromba field to BW Offshore. BW Offshore announced its agreements with Chevron and Petrobras for the acquisition of Maromba field in March.... Continue Reading →
August 14, 2019 Shell received from Ibama environmental license for the acquisition of 3D seismic data in the area of blocks BM-S-54 and Sul de Gato do Mato, both in the Santos Basin. The license, issued on August 1, is valid for seven months and runs until March 2020. Sul do Gato do Mato is... Continue Reading →
Tokyo, August 15, 2019 MODEC, Inc. ("MODEC", Head Office: Chuo-ku, Tokyo; President and CEO: Yuji Kozai) is pleased to announce that an affiliate of MODEC has issued a project bond in the international capital markets outside Japan to refinance a Floating Production Storage and Offloading (FPSO) vessel chartered to the TUPI consortium led by Petróleo... Continue Reading →
Brazil Energy Insight 