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The Brazilian oil and gas company Enauta said Tuesday that classification society DNV had issued the recertification for the Petrojarl I FPSO, enabling a contract extension for the production unit. The Petrojarl I FPSO is an early production system used for production at Enauta's Atlanta field. Enauta is working to deploy a larger FPSO -... Continue Reading →
Tullow Oil has signed a production sharing contract (PSC) for Ivory Coast's offshore exploration license CI-803. Tullow will operate the license with 90% equity, with the remaining 10% held by PetroCi. The CI-803 offshore block covers an area of 1,345 square kilometers and is adjacent to license CI-524, also held by Tullow (90%, operator) and... Continue Reading →
(OET) UK-headquartered and AIM-listed company Afentra plc has made progress on completing deals with Angola’s state-owned oil and gas company Sonangol and Croatia’s INA-Industrija Nafte, which will allow it to acquire interests in blocks offshore Angola. Back in April 2022, Afentra announced that its wholly-owned subsidiary, Afentra (Angola), had signed a Sale and Purchase Agreement (SPA) with Sonangol to acquire a 20... Continue Reading →
(OE) Italian energy industry services company Saipem has secured offshore oil and gas field construction contracts in Guyana and Egypt worth about $1.2 billion in total. In Guyana, the U.S. oil major ExxonMobil has hired Saipem to support its Uaru offshore oil field development project, in the Stabroek block, at a water depth of around 2,000... Continue Reading →
(Reuters) - China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked. Three Chinese shipyards - only one of them having experience building large LNG tankers -... Continue Reading →
(WO) — Houston American Energy Corp. announced the acquisition of an additional interest in Hupecol Meta, LLC., on December 9th. “We are excited about the increase of our interest in the CPO-11 block, the progress made by Hupecol Meta to date, and the outlook for the development of the block,” John Terwilliger, CEO of Houston... Continue Reading →
(OE) Northern Ocean Ltd's semi-submersible drilling rig, Deepsea Bollsta, has arrived in Namibia and started its contract with Shell. The contract for the 2019-built offshore drilling rig has a firm duration of twelve months. Shell will have the option to extend it for another six months. The drilling rig is managed by the Norwegian drilling... Continue Reading →
As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity... Continue Reading →
(OET) U.S. oilfield services player Weatherford International has been assigned an upgrade in credit rating from B- to B with a stable outlook by S&P Global Ratings (S&P). Weatherford disclosed on Wednesday that S&P based the rating upgrade in part on the improvements in financial performance and liquidity. This was driven by “stronger operational performance,” according to the U.S. player.... Continue Reading →
Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of November. Key:(1) The MUP3A well, in the Frade Field, had its production temporarily interrupted due to a failure in the completion equipment, with expected resumption in January. (2) The... Continue Reading →
Brazil Energy Insight 