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There are surveys, and then there are surveys. For survey-tech outfit, Ecotone, the business model is offering a faster, digital way to monitor the health of seabed environments and offshore infrastructure. There’s enough to do with Norway set to invest $4.89 billion in pipelines in 2020 to add to thousands of kilometers of pipe worldwide.... Continue Reading →
Angolan state oil company Sonangol will begin in April to sell its stakes in several private firms, chair Sebastiao Gaspar Martins said, as part of a government bid to privatize key state assets including parts of Sonangol itself by 2022. The eleven companies include local bank Banco BAI as well as Sonamet, Sonatip, and Sonadit... Continue Reading →
The coronavirus outbreak could cut oil industry investment this year by tens of billions of dollars and delay the delivery of offshore installations currently being built at Asian yards, Oslo-based consultancy Rystad Energy predicted on Friday. "Our current assessment forecasts that COVID-19 could result in global exploration and production (E&P) investments falling by around $30... Continue Reading →
Italian oil and gas company Eni booked a loss in the fourth quarter of 2019 compared to a profit in the same period of 2018 despite record production driven by project ramp-ups and start-ups. According to its quarterly report on Friday, Eni’s adjusted operating profit was €1.8 billion in the fourth quarter, down by 40%... Continue Reading →
Subsea marine robotics company Ocean Infinity said it has been awarded a contract with ExxonMobil, for high-resolution autonomous underwater vehicle (AUV) geophysical and geotechnical data acquisition within the promising Stabroek block offshore Guyana. Ocean Infinity will simultaneously deploy a fleet of AUVs in water depths of between 70 meters and 2,150 meters over an area... Continue Reading →
FEB 27, 2020 News of the consortium that is exploring the southern block of Gato do Mato. The Ministry of Mines and Energy published this Thursday (27), in the Official Gazette, its endorsement for the sale, by Shell, of 30% of the area to the Colombian Ecopetrol. The transaction was announced in October last year.... Continue Reading →
The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions. Manufacturing shutdowns and shipping bottlenecks are causing project delays. Vessels and other large components being constructed in affected shipyards have the most... Continue Reading →
Amid a raft of February orders and near-orders for floating production storage and offloading vessels, or FPSOs, comes a new report suggesting those shipyards and engineers able to piece them together may soon be feeling the strain. "The strong pace of recent orders has a downside," says Jim McCaul, a leading authority on the FPSO... Continue Reading →
Italian oil and gas company Eni has drilled the Agogo-3, the second appraisal well of Agogo discovery in Block 15/06, offshore Angola, increasing by about 40% the estimate of oil in place, which is now of 1 billion barrels with further upside to be tested in the Northern sector of the field. Eni said on... Continue Reading →
Shell is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign... Continue Reading →
Brazil Energy Insight 