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(OE) UK-based CRP Subsea has recently won a "major" contract from an unnamed "leading energy technology company," AIS, CRP's parent company, said this week. CRP Subsea will deliver 333 distributed buoyancy modules (DBMs) for a deepwater oil field project located in the pre-salt Santos Basin, offshore Brazil. Distributed buoyancy modules (DBMs) are typically used between structures... Continue Reading →
(Reuters) The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America. Baker Hughes, Halliburton, and SLB are set to post a combined second-quarter adjusted profit of $2.04 billion, according to Refinitiv data,... Continue Reading →
(Reuters) - Brazil's state-run oil company, Petrobras (PETR4.SA), will keep total investments in its upcoming 2024-2028 business plan similar to the $78 billion foreseen in its latest five-year plan, CEO Jean Paul Prates told Reuters on Monday. Petrobras is preparing to preview updates to its business plan next month, he said, including a greater focus on... Continue Reading →
PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), informs its shareholders and the market in general of the start of production of the ODP5 (“F23P3”) well, in the Frade Field (“Field” or “Frade”), with stabilized initial production of approximately 8,000 barrels of oil per day. Thus, PRIO has exceeded the milestone of 100,000 barrels per day... Continue Reading →
(OE) Oil company Tullow said Monday that production from its Jubilee oil field offshore Ghana had surpassed 100,000 barrels of oil per day, following the recent start-up of the Jubilee South East (JSE) Project. "Gross production from the field has surpassed 100,000 bopd, after a second JSE production well was brought onstream. Both of the... Continue Reading →
Norwegian state-owned oil and gas giant Equinor has disclosed video footage, showing a floating production storage and offloading (FPSO) vessel, which will work on its field offshore Brazil, leaving a Chinese shipyard, following 32 months of work. Equinor’s video shows the FPSO Bacalhau hull leaving the Dalian Shipbuilding (DSIC) shipyard in China. This comes over a month after... Continue Reading →
(Reuters) Mexico's state oil company Petroleos Mexicanos will see its crude output reduced by some 100,000 barrels per day (bpd) until the beginning of August after a massive fire on Friday at an offshore platform, a top company source said. The reduced production implies that, in total, Pemex will lose at least 2 million barrels of... Continue Reading →
Australia’s oil and gas company Karoon Energy has updated its contingent resource estimates for a field offshore Brazil. This is expected to facilitate the technical and commercial feasibility studies for a potential development, which are currently underway. Karoon added the Neon oil discovery option in May 2022 to the rig it hired in April 2021. Following the Patola completion activities, the Maersk Developer rig,... Continue Reading →
Oil and gas companies are set to spend $58 billion on well intervention – a way to extract additional resources from an existing well instead of drilling a new one – in 2023, the Norwegian energy intelligence group Rystad Energy said. Rystad Energy said its modeling showed this is just the start of a surge... Continue Reading →
(Reuters) Mexican oil company Pemex estimates that a deadly fire on a major offshore platform off the southern edge of the Gulf of Mexico has led to the loss of 700,000 barrels of crude oil production so far, while one person remains missing, the CEO of the state company, Octavio Romero, said on Saturday. The... Continue Reading →
Brazil Energy Insight 