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Saipem has been awarded two new contracts, one for EPCI offshore activities in the Middle East and the other for the development of underwater drones in Brazil. The total value of the new contracts is approximately $1 billion. Under the existing Long-Term Agreement (LTA) with Saudi Aramco, Saipem has been selected for a new offshore... Continue Reading →
This week has been marked by much activity in the oil and gas exploration segment in Brazil. This time, the news comes from Shell Brasil, which has started drilling a new exploratory well in block C-M-659, in the Campos Basin. The well was called internally by the oil company Suçuarana-1 and is in a water... Continue Reading →
Guyana-focused oil and gas companies CGX Energy and Frontera Energy Corporation said Wednesday they had discovered oil at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana. "The Joint Venture has successfully finished drilling operations without any safety incidents and expects to release the drilling rig in early July 2023,"... Continue Reading →
(OET) UK-headquartered TechnipFMC has been hired by Azule Energy, a joint venture between BP and Eni, to provide subsea production systems for a development project offshore Angola. TechnipFMC deems the contract to be a “significant” one since it is between $75 million and $250 million. Thanks to this deal, the company will supply subsea production systems for Azule... Continue Reading →
French oil major TotalEnergies has been named the upstream industry's most admired explorer and has received the Discovery of the Year award in Wood Mackenzie's annual Exploration Survey. This is TotalEnergies' third time winning the most-admired explorer award. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said:"For the third time in our industry-leading... Continue Reading →
Brazilian oil and gas player Enauta has concluded a scheduled maintenance shutdown for a floating, production, storage, and offloading (FPSO) vessel, which is currently working on a field offshore Brazil. Back in May 2023, Enauta started preventive maintenance at the FPSO Petrojarl I. The production at the Atlanta field was expected to resume in mid-June, with the resumption of production... Continue Reading →
(Reuters) Offshore oil and gas exploration spending will increase more than 20% globally this year and the growth will continue into the next, oilfield services firm SLB said on Wednesday. "Offshore is experiencing a renaissance, with significant breadth and anticipated durability," SLB Chief Executive Olivier Le Peuch said at the JP Morgan Energy Power and... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) and Guyana are in talks over which unexplored offshore areas will be returned to the government, people close to the discussions said, as the nascent oil nation seeks to attract new operators to the country. The Exxon-led consortium that controls offshore production in Guyana this year was required to return 20%... Continue Reading →
(OE) After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up. With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO... Continue Reading →
SBM Offshore is pleased to announce it has signed the project financing of FPSO Alexandre de Gusmão for a total of US$1.615 billion. The project financing is provided by a consortium of 12 international banks with insurance cover from 3 international Export Credit Agencies (ECA). The financing is composed of four separate facilities with a... Continue Reading →
