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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 →
By Alex Kimani (oilprice.com) Over the past two decades, the shale revolution largely pushed aside interest in the exploration and development of offshore hydrocarbons. The combination of hydraulic fracturing and horizontal drilling enabled the United States to significantly increase its production of oil and natural gas from tight oil formations, with the Shale Patch accounting for 36% of... Continue Reading →
BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”), pursuant the provisions of CVM Resolution No. 44, hereby informs its investors and the market in general about updates on Papa-Terra and Atlanta fields: I. Papa-Terra On October 18, 2024, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) authorized, by means of an Official Letter, the Company's... Continue Reading →
Wendy Laursen, Contributing Writer (OE) The more production infrastructure we push to the seabed, the more data we need to pull back up. With it comes opportunity. Chevron’s landmark 6,500 tons of subsea gas compression infrastructure for Jansz-Io demonstrates the scale of what is being put on the seabed, but there’s a diversity of other infrastructure under... Continue Reading →
(oilnow.gy) Guyana is emerging as a significant threat to OPEC’s dominance, according to the International Energy Agency’s (IEA) 2024 World Energy Outlook, released on October 16. The IEA predicts that OPEC’s market share will drop from its current 34% to 33% by 2030, its lowest level since the 1980s, before rebounding to 40% by 2050. ... Continue Reading →
