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3R Petroleum Óleo e Gas S.A. (“3R” or “Company”) (B3: RRRP3) hereby reports its results for the second quarter of 2023 (“2Q23”). Except as indicated otherwise, the financial and operational information set out below is presented on a consolidated basis and expressed in Brazilian Reais (R$), in accordance with accounting practices adopted in Brazil (CPC)... Continue Reading →
(OET) Brazilian oil and gas player Enauta has concluded the drilling and completion of another well in its drilling programme at a field offshore Brazil. In addition, the firm has started drilling activities at the last well in this drilling campaign. Back in November 2022, Enauta started drilling its first well, 7-ATL-5H-RJS, in this drilling campaign at the Atlanta... Continue Reading →
(Reuters) APA Corp. said on Wednesday its most recent appraisal well in Block 58 off Suriname's coast confirmed the extension of oil resources 14 kilometers from the discovery well. APA's exploration in Suriname has been closely watched as it could become Suriname's first commercial deepwater project. Massive discoveries and fast-growing oil production in neighboring Guyana... Continue Reading →
Main achievements: • Robust recurring EBITDA of US$ 11.7 billion, a 19% decrease compared to 1Q23, mainly influenced by international diesel crack spreads, which declined more than 40% QoQ• Gross debt under control at US$ 58 billion, even after the increase in leases due to the startup of chartered FPSOs Anna Nery and Almirante Barroso•... Continue Reading →
(PN) Independent operator PRIO ended the second quarter of the year with a record average production of 91,000 barrels of oil per day. One of the highlights in the period was the Frade Revitalization Plan, which consolidated the field's daily production at almost 60,000 barrels per day with the completion of another producing well, ODP5... Continue Reading →
(OET) Azule Energy, a joint venture between BP and Eni, has awarded TechnipFMC and Aker Solutions with contracts for its Ndungu project offshore Angola. TechnipFMC has received a contract, worth between $75 million and $250 million, to supply flexible pipe for the project that will tie into Block 15/06 West Hub. The field is located... Continue Reading →
With the mission of providing Subsea, technological and innovative solutions for the oil and gas sector, RRC Tecnologia e Inovação has just closed a 12-month consultancy contract with Trident Energy do Brasil for the decommissioning of flexible pipelines and subsea equipment that were connected to platforms P-07, P-12 and P-15, at the Pampo and Enchova... Continue Reading →
(OET) Subsea 7 has completed the polymer lining scope at Woodside Energy’s Sangomar field development Phase 1 project, Senegal’s first offshore oil development. This is said to mark the first use of the Swagelining polymer liner system offshore West Africa and for Woodside Energy. The Swagelining system was selected as a corrosion barrier for 24 kilometers of... Continue Reading →
(Reuters) Norwegian state energy firm Petoro said it was becoming harder to tie oil and gas platforms to the electricity grid as planned, as it reported a 34% drop in profit for the second quarter on Wednesday due to petroleum prices falling sharply. Petoro, which is 100% government owned, is not itself an operator, but... Continue Reading →
(OE) Spending on conventional oil and gas exploration is on the rise and is set to top $50 billion this year, led by offshore investments, however, discovery volumes are falling to new lows, despite the rising investments. This is according to Rystad Energy, a Norway-based energy industry intelligence group. Rystad's estimates show that in the... Continue Reading →
Brazil Energy Insight 