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Subsea Integration Alliance, the partnership between Subsea 7 and OneSubsea, has officially secured the EPCI contract with Equinor for the Bacalhau field in Brazil. The work scope covers the engineering, procurement, construction and installation (EPCI) of the subsea pipelines (SURF) and production systems (SPS) for the field located 185 kilometers from the coast of São... Continue Reading →
Portugal's Galp Energia (GALP.LS) will sharpen its focus on renewable energy and limit fossil fuel spending to already approved developments, resulting in a 20% cut in five-year capital expenditure, the company said on Wednesday. Oil and gas company Galp is following a broader trend, as energy companies curb investment in fossil fuels in favour of green power... Continue Reading →
Norwegian offshore vessel owner Siem Offshore has won a contract for its Siem Dorado multi-purpose support vessel in Guyana. Siem Offshore said the contract was for 55 days firm, in addition to mobilization and demobilization fees, with extension options included. It did not say who the client was. The work scope will consist of fiber... Continue Reading →
Offshore drilling contractor Valaris has been awarded a one-well contract for a drillship with Total for operations offshore Ivory Coast. Valaris said on Tuesday that the contract has been awarded to the drillship Valaris DS-12. The contract is expected to start in the third quarter of 2021. No further information about the contract have been... Continue Reading →
Subsea Integration Alliance, the partnership between Subsea 7 and OneSubsea, is anticipating the final confirmation of an EPCI contract with Equinor for the Bacalhau field “in the near future”. If confirmed, the work scope will cover the engineering, procurement, construction and installation (EPCI) of the subsea pipelines (SURF) and production systems (SPS) for the field located... Continue Reading →
(Reuters) Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s... Continue Reading →
Norwegian oil and gas company Equnior has made a final investment decision for the development of the Bacalhau field offshore Brazil. The development of the field located in the Santos Basin will cost around $8 billion. Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling, and Procurement said: "This is an exciting day. Bacalhau is the... Continue Reading →
(PetroNoticias) 3R Petroleum launched its new visual identity. The date was chosen for the celebration of one year since the start of operations at Polo Macau, in the Potiguar Basin, on May 29, 2020. The brand, redesigned, reinforces the company's pillars: Energy to Rethink, Redevelop and Revitalize, preparing it for the future. “We are very... Continue Reading →
Offshore drilling contractor Borr Drilling is optimistic and encouraged by signs of shallow water rig market recovery amid strong tendering and contracting activity, clearly visible in the rig owner’s latest contract wins and extensions. The company and its Drilling JVs have been awarded 17 new contracts, extensions, exercised options, and LOAs/ LOIs from the start... Continue Reading →
Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic. Petronas said on Monday it made a post-tax profit of 9.3 billion ringgit ($2.25 billion) in January-March, against 4.5 billion ringgit in the same quarter... Continue Reading →
