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Oilfield services provider Archer has closed the acquisition of plug and abandonment (P&A) specialist Romar-Abrado, increasing its guidance for this year. The acquisition is based on an enterprise value of $8 million, plus earn-out pending trading performance over 2023 to 2025, and is conducted on a debt-free basis and financed by available cash at hand. “We... Continue Reading →
Forum Energy Technologies (FET) has delivered three work-class remotely operated vehicles (ROVs) to Brazil-based OceanPact for deployment on Petrobras’ oilfields. The three 200HP Perry XLX-C ROVs, manufactured at FET’s UK facility at Kirkbymoorside, North Yorkshire, will be deployed on two of OceanPact’s vessels to support inspection, repair and maintenance (IRM) services for the oilfields of Brazil’s... Continue Reading →
(OED) Oil and gas company BW Energy has started drilling the first production well on the Hibiscus / Ruche Phase 1 development in the Dussafu Block offshore Gabon. The company said Monday that drilling operations had started in the first week of January. First oil is expected in March 2023. BW Energy is using the... Continue Reading →
Baker Hughes’ rig count report has revealed that the international offshore rig count experienced an increase of 30 units in 2022 compared to the figures from the year before. The overall international rig count including both offshore and onshore rigs was up 66 rigs from the 2021 count of 834. Source: Baker Hughes According to the report,... Continue Reading →
The total production of Oil and Natural Gas for the month of November 2022 was 3.978 million barrels of oil equivalent per day (boe/d), of which 3.095 million barrels of oil per day (bbl/d) and 140.380 million cubic meters of natural gas per day (m³/d). In oil, there was a reduction of 4.6% in comparison... Continue Reading →
(OP) Guyana’s offshore oil boom continues to gain momentum. It is the ExxonMobil-led consortium operating the 6.6-million-acre Stabroek Block offshore Guyana which stands to benefit the most from what analysts describe as the last great frontier offshore oil boom. The global energy supermajor has made over 32 world-class discoveries in the Stabroek Block and is... Continue Reading →
Modec’s FPSO Anita Garibaldi is already in Brazilian waters. The platform vessel arrived at the Jurong Aracruz shipyard, in Espírito Santo, where it will undergo commissioning activities, in addition to regulatory inspections and operational tests. Right after these final preparatory works, the unit will leave for the Marlim field, in the Campos Basin. Start-up is... Continue Reading →
(PN) The company concluded its first issue of simple debentures, in a restricted public offering. The transaction totaled BR$1.4 billion, of which approximately BR$737 million were First Series debentures and approximately BR$663 million were Second Series debentures, both non-convertible into shares. The funds raised will be used by the company in the development of the... Continue Reading →
(OET) Brazilian oil and gas giant Petrobras has awarded Norwegian seismic company PGS with a 4D production contract over the Barracuda-Caratinga field in the Campos basin offshore Brazil. The Ramform Victory will most likely be rigged to acquire the Barracuda-Caratinga 4D survey, supported by PGS Apollo as a source vessel, the Norwegian company said. Mobilization is scheduled to start in the... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, informs that it put into operation, this Wednesday (Dec,21), the P-71 platform vessel, installed in the Itapu field, in the Santos Basin pre- salt area, 200 km off the coast of Rio de Janeiro. The start of production has been anticipated, as it was originally scheduled for 2023. From Petrobras'... Continue Reading →
Brazil Energy Insight 