A further increase in the gross recoverable resources is anticipated at Guyana’s Stabroek Block, adding to the recently upgraded 9 billion boe estimate, according to Hess Corporation. Greg Hill, Chief Operating Officer, explained to investors on the company’s Q3 earnings call last week that the 9 billion barrels of oil equivalent (boe) upgrade that was... Continue Reading →
Palfinger’s Cranes for Giant Brazil-bound FPSO
Crane specialist Palfinger will deliver two wire luffing lattice boom cranes to the largest FPSO vessel ever delivered to Brazil. The FPSO, to be delivered by Japan's Modec, will be deployed at Equinor's Bacalhau field (formerly Carcará), about 185 kilometers off the Brazilian coast – south of São Paulo – at a water depth of around 2,050 meters.... Continue Reading →
Total Looking to Sell Stakes in Several Offshore Oil Fields in Angola?
Total is seeking to sell stakes in a number of Angolan oilfields, in what is seen as an early sign of an expected wave of divestments by big energy companies from the West African country, industry sources said. Total could raise around $300 million from the sale of its 20% stake in Angola's offshore Block... Continue Reading →
U.S. Tells Eni Repairs to Venezuela Floating Oil Facility Not Barred by Sanctions
The United States has assured Italian oil company Eni SpA that efforts to prevent a spill at a floating crude facility in Venezuela would not run afoul of sanctions, the company, and the U.S. State Department said on Monday. Images in recent months showing the Nabarima floating storage and offloading facility (FSO), part of the... Continue Reading →
Report: BP Selling London HQ for $324M
(Reuters) British oil major BP is close to selling its central London headquarters for about 250 million pounds [around $324,4 million] as the coronavirus pandemic has forced the company to cut costs, the Financial Times reported on Tuesday. The office, located at St James' Square, which houses about 500 employees is under offer to Lifestyle... Continue Reading →
Petro Rio 3Q20 EARNINGS RELEASE
Message from the Management “In this quarter, we continued to focus on keeping our operations safe and reliable, protecting the health of our employees and contractors on board, reducing the risk of Covid-19 spreading in our operations and minimizing the impact on our business. At the same time, we delivered the review and adjustment of... Continue Reading →
Enauta evaluates closing the Atlanta field operations
Enauta evaluates closing the Atlanta field operations, in the Santos Basin post-salt, after Barra Energia informs that it will abandon the asset. An alternative is to take 100% of the field. The decision should be taken by the end of this month, Enauta reported today. - “Enauta had already been revising the project in order... Continue Reading →
Petrofac closes sale of Mexican operations but plans legal action against Perenco
Oilfield services provider Petrofac has completed the disposal of its non-core assets in Mexico to Perenco, but the two companies have entered into a dispute related to this transaction. Petrofac first sold a 49 per cent of its operations in Mexico to Perenco back in October 2018. This included contracts for work on the Santuario and... Continue Reading →
Premier Oil Creditors Support Merger with Chrysaor
UK oil company Premier Oil's creditors have given their approval for the company's merger with rival Chrysaor, proposed in October. To remind, the two UK-based offshore oil and gas companies Premier Oil and Harbour-controlled Chrysaor agreed to merge in an all-stock transaction, via a reverse takeover. The involved parties said the proposed merger would create... Continue Reading →
South America’s Offshore Output Set to Surpass North America’s by 2024
South America’s offshore output is on track to surpass volumes coming from North America by 2024, energy intelligence group GlobalData said Tuesday. While several projects in Brazil and Guyana have taken final investment decision (FID), and are less likely to be postponed or suspended, offshore US and Mexico tell a different story, GlobalData says. Key... Continue Reading →
Brazil Energy Insight 