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(Reuters) - Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas (PETRA.UL) in the South American country. Baseri did not specify the incentives his company is looking for, but lower royalties and taxes, or commercial incentives often hasten investment decisions by energy companies.... Continue Reading →
(OM) Rockhopper Exploration has commented on a progress report on the Sea Lion oil development in the offshore North Falkland basin from operator Navitas Petroleum LP. This includes an updated development plan, which takes into account static and dynamic reservoir models. Netherland Sewell & Associates’ latest independent report has increased gross 2C resources in the partners’ licenses in the basin... Continue Reading →
(OE) Norwegian offshore vessel owner Solstad Offshore has secured $70 million in new contracts and extensions for two of its subsea construction vessels (CSV) that will be employed offshore Brazil. The new contract is for the CSV Normand Fortress with Brazilian state-run oil company Petrobras. The contract has a duration of two years firm with... Continue Reading →
(OE) The first multiphase pumping subsea system (MPP), that will support oil and gas production at the Atlanta field in Brazil's Santos Basin, has been shipped from Norway, Brazilian oil and gas company Enauta has informed. The MPP, manufactured by OneSubsea, was loaded on January 21, 2024, in Norway ahead of shipping for Brazil. The... Continue Reading →
(OET) China-based provider of clean energy services Wison New Energies, formerly known as Wison Offshore & Marine, has initiated the design validation and pre-FEED phase for two floating LNG (FLNG) projects in Nigeria. Following the signing of the contract and disbursement of mobilization funding, Wison New Energies officially commenced the pre-FEED phase for two 3... Continue Reading →
(OE) Singapore’s Offshore Frontier Solution – a joint venture between MODEC and Toyo Engineering Corporation – has awarded ABB a contract to deliver a complete electrical system and associated digital solutions for Errea Wittu floating production storage and offloading (FPSO) unit. Errea Wittu FPSO will be operated approximately 200 kilometers off the coast of Guyana... Continue Reading →
(BJ) A relevant shareholder of 3R Petroleum is proposing a carveout of the company's onshore oil fields and the incorporation of these assets by PetroReconcavo, in a transaction that shows the struggle of junior oils for scale, sources familiar with the matter told Brazil Journal. The rationale for the transaction is already known to the... Continue Reading →
FutureOn, a Norwegian software company specializing in the energy sector, has joined forces with Rystad Energy to launch a digital tool that integrates up-to-date cost estimation with live project data for energy developments, opening doors to accelerated project delivery and efficiency for companies across the energy supply chain. According to FutureOn, its FieldTwin and Rystad... Continue Reading →
(OM) A major capex shift from North America to international markets has been ongoing since early 2023, according to Evercore ISI’s latest Offshore Rig Market Snapshot. This trend has been concurrent with low natural gas prices in the US, which has prompted a number of rigs to out into international markets. Combined with attractive offshore... Continue Reading →
(Reuters) Guyana said it expects to receive some $2.1 billion from oil exports and $320 million from royalties this year as crude production continues to rise, an increase from the $1.62 billion received in 2023. The South American nation's gross domestic product is expected to increase by 34.3% in 2024, the fifth consecutive year of... Continue Reading →
