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(Reuters) - Exxon Mobil Corp. (XOM.N) is prepared to bid on Friday for new blocks in Brazil's deep-water oil fields, a focus area for its oil and gas production growth, people familiar with the matter said. Any bid would mark its first big investment since it decided to resume spending after a historic, $22.4 billion annual loss... Continue Reading →
Drilling costs for the Kawa-1 exploration well, located offshore Guyana, are expected to increase as drilling operations are taking longer than expected. As a result, CGX Energy may seek additional funding options. Frontera Energy is the majority shareholder of and joint venture partner of CGX in the Petroleum Prospecting Licenses for the Corentyne block, where the... Continue Reading →
(OE) Africa needs harmonized oil legislation to avoid ruinous competition among its oil-producing nations as they vie for investors, Senegal's President Macky Sall told an oil conference on Thursday. Sall said that as some developed nations push for an end to investments in fossil fuels, particularly gas, African countries needed to attract partners who are financially and technically reliable with... Continue Reading →
(Reuters) Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana, and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising... Continue Reading →
Oslo-based subsea well intervention and installation services company AKOFS Offshore last week scored a three-year deal with Brazil's Petrobras for its vessel Skandi Santos. Under the contract, the Skandi Santos will perform a broad scope of subsea services in Brazil, and IKM Subsea will take care of ROV services. Bravante will be responsible for marine services.IKM Subsea... Continue Reading →
Australia's competition regulator approved Woodside Petroleum's agreed $28 billion merger with BHP Group's petroleum arm on Thursday, saying it would not reduce competition in the domestic gas market. The Australian Competition and Consumer Commission (ACCC) said it found Woodside would continue to face competition from several suppliers after the deal that will create a global... Continue Reading →
An offshore oil block in Ivory Coast controlled by Eni is expected to enter production in the second quarter of 2023 with daily output of 12,000 barrels of oil and 17.5 million cubic feet of gas, the Ivorian government said on Wednesday. Production will then ramp up in 2026 to between 75,000 and 100,000 barrels... Continue Reading →
(OM) Strohm has developed a thermoplastic composite pipe (TCP) with an integrated weight coating. The company has supplied the first fully bonded TCP flowline featuring the coating – measuring 2,200 m (7,218 ft) in length and with a diameter of 2.5-in. – to Trident to support the Elon-C subsea tieback to the Okume platform complex offshore Equatorial Guinea.... Continue Reading →
(Offshore) Wood Mackenzie’s Global Upstream Outlook 2022 predicts a 9% increase in investments next year to more than $400 billion. The consultants expect more than 40 projects with resources of more than 50 MMboe to be sanctioned, with low-breakeven, low-carbon deepwater projects dominating greenfield final investment decisions. Fraser McKay, vice president upstream research, said: “Companies will allocate... Continue Reading →
(Reuters) - Erosion in the Amazon region has ruptured Ecuador's state-owned pipeline SOTE, the same problem that led to its shutdown last week, the Energy Ministry said on Tuesday. The collapse in the pipeline's tubing did not cause any environmental damage given it was empty following its suspension, along with the privately-owned OCP pipeline, last... Continue Reading →
Brazil Energy Insight 