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(OE) Energy technology company Baker Hughes has signed ‘significant’ contracts with Petrobras to provide flexible pipe systems that will be deployed across several oil and gas fields offshore Brazil. Baker Hughes will provide 77 km of flexible pipe systems, including includes risers and flowlines for hydrocarbon production and associated gas and water injection with support... Continue Reading →
(oilnow.gy)Guyana is set to witness the startup of its fourth oil development, Yellowtail—one of the largest investments ever made in the country. Priced at US$10 billion, this project is spearheaded by ExxonMobil and its Stabroek Block partners Hess and CNOOC. The Yellowtail project will feature the ONE GUYANA floating production storage and offloading (FPSO) vessel,... Continue Reading →
(oilnow.gy) SBM Offshore’s Chief Executive Officer, Øivind Tangen confirmed that the upcoming Jaguar floating production storage and offloading vessel (FPSO) will be executed with the same team and expertise that handled the Liza Unity FPSO. “We inherently bring all the learnings from [Liza] Unity and the execution of [Liza] Unity into that project,” said Tangen said in an... Continue Reading →
(oilnow.gy) Moody’s Ratings has upgraded Suriname’s long-term local and foreign-currency issuer ratings from Caa3 to Caa1. The outlook is now positive, reflecting the anticipated economic benefits from a significant offshore oil project. This change is driven by TotalEnergies’ recent decision to proceed with the GranMorgu oil project in Block 58, which holds 750 million barrels of recoverable reserves. The... Continue Reading →
Japan’s Modec has made further progress in the construction of a hull for a floating production, storage and offloading unit (FPSO) that will be deployed at ExxonMobil’s fifth oil development in the Stabroek block, offshore Guyana. The company announced the completion of the hull assembly of the FPSO Errea Wittu, 40 days ahead of schedule.... Continue Reading →
The Almirante Tamandaré platform ship has arrived in Brazil. The unit will be installed in the Búzios Field, in the pre-salt layer of the Santos Basin, off the coast of Rio de Janeiro. An FPSO (floating production, storage and offloading unit) platform, Almirante Tamandaré is the first high-capacity unit to be installed in the field,... Continue Reading →
(Bloomberg) -- Transocean Ltd. is in talks to merge with rival offshore drilling contractor Seadrill Ltd., according to people familiar with the matter, just as oil explorers around the world are returning to the sea. Shares of Seadrill jumped about 10% after the close of regular trading in New York while Transocean’s were up about... Continue Reading →
(Reuters) - Brazil state-run firm Petrobras (PETR4.SA), opens new tab plans to bring oil production at its Tupi oil field back to 1 million barrels per day by 2027 as it plans new investments in the asset, its director for exploration and production said on Thursday. Located in deep waters offshore, Tupi is Brazil's largest oil field... Continue Reading →
SBM Offshore announces it has completed the divestment of a 13.5% ownership interest in the special purpose companies related to the lease and operation of the FPSO Sepetiba to China Merchants Financial Leasing (Hong Kong) Holding Co., Limited (CMFL). This follows the announcement on February 10, 2022, of an agreement whereby CMFL would acquire its... Continue Reading →
(oilprice.com) Lower oil prices and production volumes failed to offset rising natural gas prices and output at Equinor, which reported on Thursday lower-than-expected adjusted operating income, its key earnings metric, for the third quarter. The Norwegian energy giant booked an adjusted operating income of $6.89 billion for Q3, down by 13% compared to the same period of... Continue Reading →
