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Dutch FPSO leasing specialist SBM Offshore has ordered its latest Fast4Ward multi-purpose floater hull as it marked a new record level order book at $31.1 billion. The latest Fast4Ward floating production unit (FPU) is expected to be delivered in 2024, the firm said yesterday in its half year earnings. It also said it could have... Continue Reading →
(OM) APA Corp. has issued a brief update on its offshore E&P operations in its latest results statement. The company and partner/operator TotalEnergies plan further appraisal of the Krabdagu Field offshore Suriname after completing two flow tests on the discovery well. APA and its partners are drilling further on exploration wells on Block 58 (Dikkop) and... Continue Reading →
Spanish oil company Repsol has found good quality reservoir at its exploration well offshore Guyana but both targets are water-bearing and the well has been plugged and abandoned. The Beebei-Potaro exploration well was drilled in the Kanuku licence, offshore Guyana. The licence is operated by Repsol with a 37.5 per cent interest with Tullow Oil holding... Continue Reading →
ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices. Oil and gas prices have skyrocketed with Western sanctions on major producer Russia throttling energy supply amid a rebound in demand from pandemic lows. Crude is trading about 25%... Continue Reading →
Iberdrola Group company AVANGRID has finalized an agreement to take over responsibility as the operations and management services provider for Vineyard Wind 1, the U.S.' first commercial-scale offshore wind project. The agreements include an operations and maintenance service agreement and asset management agreement, which designate AVANGRID as the party responsible for overseeing the operation and... Continue Reading →
U.S.-based energy giant ExxonMobil has picked another vessel from Kotug, a Dutch towage services provider, for operations entailing the provision of terminal towage support for two floating production, storage and offloading (FPSOs) units offshore Guyana. Kotug revealed on Tuesday that this deal was awarded by ExxonMobil’s subsidiary Esso Exploration and Production Guyana (EEPGL) and it... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol reported record net profit for both the second quarter and the first half of 2022 on Wednesday after earnings benefited from soaring prices and increased production. Ecopetrol's net profit for the three months to June 30 stood at 10.5 trillion pesos ($2.4 billion), the company said, while... Continue Reading →
A consortium of TotalEnergies, Corio Generation and Qair has been pre-selected by the French Directorate General for Energy and Climate (DGEC) to participate in a competitive tender to develop two floating windfarms in the Mediterranean Sea.The two projects, of about 250 MW each, could supply enough clean energy to meet the annual electricity consumption of... Continue Reading →
HIGHLIGHTS FOR THE PERIOD Click here for the Earnings Release.
Offshore staff (OM) For the month of July, oil and gas discoveries were announced across five offshore regions: the Far East, Middle East, North Sea/Barents, South America, and the US Gulf of Mexico, Esgian reported Aug.2. These regions accounted for seven discoveries. The analyst firm said floating rigs led the way, drilling five of the... Continue Reading →
Brazil Energy Insight 