Petrobras on Production Sharing contracts

Petróleo Brasileiro S.A. – Petrobras informs that it signed today the Production Sharing Contracts (PSC) of the 1st Cycle of the Permanent Offer Bidding Round, held through a public session on 12/16/2022, for the blocks of (i) Água Marinha, in partnership with TotalEnergies (30%), QatarEnergy (20%) and Petronas (20%), (ii) Norte de Brava, where Petrobras... Continue Reading →

As farm-out process for block off Uruguay kicks off, multiple oil players show ‘strong’ interest

(OET) Challenger Energy Group, the Isle of Man-headquartered oil and gas company focused on the Caribbean and Americas, has started a farm-out process for a shallow water exploration block located offshore Uruguay, which has already attracted attention from several oil companies. Challenger Energy was awarded the AREA OFF-1 block in May 2020 by Uruguay’s state-owned oil and gas... Continue Reading →

Chinese shipbuilder delivers MODEC’s new giant FPSO destined for Brazilian waters

(OET) Dalian Shipbuilding (DSIC), part of China State Shipbuilding Corporation (CSSC), has delivered a floating production storage and offloading (FPSO) vessel bound for an Equinor-operated field off Brazil. Back in June 2021, Equinor made the final investment decision (FID) for the $8 billion worth Bacalhau project. A few days later, MODEC officially confirmed a contract award with Equinor to deliver the engineering, procurement,... Continue Reading →

Shawcor’s Pipe Coating Division Wins $110M Contract for Deepwater Project in South America

Canada-based Shawcor has informed that its pipe coating division, Pipeline Performance Group (“PPG”), has received a formal contract award for a development project, located offshore in South America.  Shawcor had previously announced its conditional award, pending project sanction, in late 2022. Shawcor will provide thermal insulation and anticorrosion coating services from an unnamed Western Hemisphere... Continue Reading →

Venezuela, Trinidad to Continue Talks on Joint Development of Dragon Offshore Gas Field

(Reuters) Venezuela and Trinidad and Tobago will continue negotiations on jointly developing a dormant offshore natural gas field, with a meeting scheduled for mid-June in Caracas, according to three sources familiar with the matter.  Officials from both governments last met in March in Venezuela, where they signed confidentiality agreements required to set up a negotiation... Continue Reading →

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