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Oct. 6 - MODEC has held a first steel-cutting ceremony for the Gato do Mato floating production, storage and offloading (FPSO) unit, which will be deployed at Shell’s field offshore Brazil. The ceremony was held at the COSCO Qidong Shipyard, marking the start of construction of the the aft block of next-generation hull for the... Continue Reading →
Oct. 1 (OE) Saipem has completed the first complex subsea structure ever built in Guyana, set for deployment at ExxonMobil’s Uaru field, marking a key milestone in the development of the Country's industrial capabilities in the subsea sector. This is the Pipeline End Termination (PLET), a terminal structure installed at the end of a subsea... Continue Reading →
Sept. 30 (oilprice) Recently, the International Energy Agency (IEA) identified Brazil as a key non-OPEC oil producer responsible for driving global production growth. A swathe of world-class ultra-deepwater pre-salt oil discoveries, the first made in the Lula field during 2006, are driving a massive offshore oil boom. Not only is Brazil Latin America’s largest oil producer, but the... Continue Reading →
Sept. 30 (OE) MODEC has been awarded the full engineering, procurement, construction, and installation (EPCI) scope to develop a floating production, storage and offloading (FPSO) vessel for the Hammerhead project in Guyana following a final investment decision (FID) by ExxonMobil. In April 2025, MODEC received a Limited Notice to Proceed (LNTP) enabling it to commence FPSO design... Continue Reading →
Sept 29 (Reuters) - TotalEnergies will cut its annual capital expenditure by $1 billion, it said on Monday, as the French oil major sought to soothe investor fears over slow asset sales and rising debt at a meeting with investors in New York. The reduction in capex, to around $15–17 billion annually between 2027 and 2030,... Continue Reading →
Sept. 26 (offshore-energy.biz) UK-headquartered energy technology provider TechnipFMC has tucked under its belt a new multimillion-dollar subsea assignment, which will enable it to help ExxonMobil Guyana, a subsidiary of the U.S.-headquartered ExxonMobil, to bring to life an offshore oil project in Guyana’s Stabroek block. While disclosing the award of a substantial subsea contract for ExxonMobil Guyana’s Hammerhead project,... Continue Reading →
Sept. 26 (OE) Italian offshore energy services firm Saipem has received the authorization to proceed with the execution of activities related to the engineering, procurement, construction and installation (EPCI) contract for the development of ExxonMobil's Hammerhead oil field, offshore Guyana. The contract with ExxonMobil Guyana, valued approximately $500 million, entails the EPCI work for subsea,... Continue Reading →
Sept. 24 (oilnow.gy) ExxonMobil Guyana Limited (EMGL) continued developmental drilling on September 20 at the Yellowtail Project’s YT_1P10 drill center within the Stabroek Block. The Noble Don Taylor rig will carry out the operation until October 31, 2025, according to a recent notice from the Maritime Administration Department. The YT_1P10 drill center lies 105.7 nautical... Continue Reading →
Sept. 25 (Reuters) U.S. energy producer Chevron is expected to begin drilling at Suriname's shallow-water Block 5 next month, the country's oil minister, Patrick Brunings, said. "They will be drilling the Kori Kori well," he said in a TV interview this week. "If this well does indeed contain oil or gas, it will of course be very... Continue Reading →
Sept 25 (Reuters) - U.S. energy major Chevron said on Thursday it was expecting to take a hit of $200 million to $400 million in the third quarter related to the Hess deal. Chevron closed its $55 billion acquisition of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the... Continue Reading →
Brazil Energy Insight 