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The exponential growth in pre-salt production, 240% since the first oil in the region, and the maintenance of refinery capacity generated a significant volume of surplus input, sold on the international market. The projection is for a continuous increase until 2030. Brazil reached a historic milestone in its oil exports, reaching the highest volume in... Continue Reading →
(OE) French green hydrogen production specialist Lhyfe has announced the operating results of its offshore hydrogen production pilot platform, Sealhyfe, confirming the initial objectives have been met with valuable insights gathered for the large-scale HOPE project. After 14 months of testing, including in particularly tough conditions, Sealhyfe was brought back with its full production capacity... Continue Reading →
(OET) Within its 2024 Business Strategy and Development Plan, China’s oil and gas giant CNOOC Limited has outlined a set of objectives for the year ahead. With energy demand on the rise, the Chinese giant has unveiled intentions to step up oil and gas production, bolster its hydrocarbon reserves, and scale up natural gas exploration... Continue Reading →
(OE) The topside modules for the giant Bacalhau floating production storage and offloading (FPSO) unit have started the journey to Singapore where they will be integrated with the hull before heading for an assignment to Equinor-operated oil project offshore Brazil. The 22,000 tons of newly constructed modules, designed and built by Norwegian firm Aibel, have... Continue Reading →
(OP) After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves in the country this... Continue Reading →
(OET) Australian oil and gas company Karoon Energy is working on sorting out the issues impeding the restart of production from a well located on a field in the Santos Basin offshore Brazil. To this end, well intervention activities are seen as the likely solution for the well to come back online. Karoon’s production from the Baúna project,... Continue Reading →
(Reuters) - BP (BP.L), opens new tab expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy (WDS.AX), opens new tab, to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake... Continue Reading →
(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 →
Brazil Energy Insight 