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(Offshore-energy.biz) Siem Offshore has reported operating revenues of $336 million for the fiscal year 2023, an increase from $274.3 million in 2022, and $85.2 million for Q4 2023, compared to $64.3 million in Q4 2022, said to be caused by an uplift in charter rates, generated by increased demand for offshore support vessels (OSVs) and... Continue Reading →
(Reuters) Australia's top oil and gas explorer Woodside Energy posted a 37% drop in annual underlying profit on Tuesday, as lower realised prices for its products offset higher sales and production. Oil and natural gas prices softened in 2023, as slowing global growth and a weaker-than-expected economic recovery in China weighed on demand. "Compared with 2022, 2023 full-year... Continue Reading →
(Reuters) Exxon Mobil Corp said on Monday it may preempt Chevron Corp's acquisition of a 30% stake in a giant Guyana oil block, the centerpiece of its deal for Hess Corp. The companies are in talks on Exxon's claim it has a right to first refusal of any sale of the Stabroek block, a giant field off the coast... Continue Reading →
The platform ship Marechal Duque de Caxias left Yantai, China, today, February 24, heading for the Mero field, operated by Petrobras, in the pre-salt Santos Basin. The platform will start operating in September of this year and has the capacity to produce up to 180,000 barrels of oil and compress up to 12 million cubic... Continue Reading →
U.S. offshore energy industry equipment maker Dril-Quip has been selected to supply the subsea wellhead systems for the Woodside Energy's Trion development offshore Mexico. The Trion project, a greenfield deepwater development, includes 24 wells across two phases. Woodside's decision to use Dril-Quip's BigBore IIe Subsea Wellheads will leverage the system's field-proven sealing technology and 2... Continue Reading →
(OM) Global energy demand continues to ramp up as the world economy emerges from the constraints of the COVID-19 pandemic. According to the US EIA, liquids consumption has grown by 10% over the past three years, averaging 101 MMb/d in 2023. The rebound in oil demand to above pre-pandemic levels continues to spur investments in... Continue Reading →
(Reuters) - An Exxon Mobil-led consortium is considering its first offshore natural gas production in Guyana, close to the country's maritime border with Suriname, an executive at the U.S. oil and gas group said on Wednesday. Exxon (XOM.N), opens new tab, Hess Corp (HES.N), opens new tab and CNOOC (0883.HK), opens new tab are under pressure from Guyana to develop... Continue Reading →
(OE) U.S. oilfield services giant Baker Hughes has secured a ‘significant contract’ from Petrobras for integrated well construction services in the Búzios field, offshore Brazil. The integrated services project is set to start in the first half of 2025 and will include drilling services, drill bits, wireline, cementing, wellbore clean up, fishing, remedial tools, fluids, services and... Continue Reading →
(TN)Petrobras announced the start of the contract for the development and implementation of HISEP®, an unprecedented technology patented by the company that will be used to increase production efficiency, reduce costs and the intensity of emissions in pre-salt oil and gas production systems. At the Petrobras Research, Development and Innovation Center (Cenpes), in Rio de... Continue Reading →
(OE) SBM Offshore’s floating floating production, storage, and offloading (FPSO) unit ONE Guyana, built for ExxonMobil’s Yellowtail field offshore Guyana, has left the drydock and arrived along quayside at the Seatrium yard in Singapore. The FPSO is set to join three other SBM Offshore-operated FPSOs in Guyanese waters in 2025. Building upon the success of... Continue Reading →
Brazil Energy Insight 