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A strong 2019 provided telltale signs that the industry was entering a new offshore investment cycle, Espen Erlingsen, head of upstream research at Rystad Energy has said. Erlingsen said on Tuesday that this trend was perhaps illustrated most profoundly by the rising swell of offshore project approval activity by operators in 2019. Globally, the amount... Continue Reading →
JANUARY 14, 2020 (Reuters) - With an eye on the growth potential of Brazil's oil industry with the pre-salt, Japanese giant Modec will seek to win at least one or two major platform charter contracts a year in the country, where it bets on technological development to stand out from international rivals. In an interview... Continue Reading →
January 14, 202o Permission was given after meeting operational safety conditions at Polo Pargo The ANP authorized Perenco to resume the operation of Polo Pargo last Friday (10/1). According to the agency, the permission was given after analysis that found the fulfillment of operational safety conditions. Located in the Campos Basin, the hub comprises the... Continue Reading →
French oil major Total has selected a Maersk Drilling-owned drillship to drill at what the rig owner says will be a world record water depth in Angola-Namibia campaign. Maersk Drilling said on Tuesday that it had been awarded contracts for a three-well exploration drilling project by Total E&P Angola Block 32, Block 48 and Total... Continue Reading →
At 670 million barrels of recoverable oil, Mexico’s Zama field would be a nation-building giant in any prolific oil-bearing basin. That reserves estimate — made this week by Netherland, Sewell & Associates for Talos Energy, the Houston-based outfit that found the field — is testing the policies of a newly reorganized Mexican Ministry of Energy. Next door... Continue Reading →
Dutch FPSO provider SBM Offshore has informed that its first completed Fast4Ward FPSO hull has arrived from China to Singapore. After a journey of 2,300 nautical miles, the Fast4Ward hull has arrived at a Keppel yard in Singapore from China, SBM Offshore informed on Monday, January 13. This is SBM Offshore’s first generic hull, the... Continue Reading →
Chinese oil company CNOOC plans to drill 227 exploration wells in 2020 and has set aside up to around $13,8 billion for capital expenditures, CNOOC's highest annual Capex since 2014, according to Reuters. CNOOC said Monday that its targeted net production for 2020 is 520 million to 530 million barrels of oil equivalent (BOE). Around... Continue Reading →
FPSO operator BW Offshore has signed an agreement with PetroRio for a one-year extension for the lease and operation of the FPSO Polvo located offshore Brazil. The firm period has been extended from 3Q 2020 to 3Q 2021, with options until 3Q 2022, BW Offshore said last Saturday. The contract has been extended multiple times... Continue Reading →
The energy transition and Extinction Rebellion led the energy news agenda and discussions in company boardrooms in 2019, but the impact on exploration drilling is not yet apparent, according to market research provider Westwood Global Energy Group. Westwood is suggesting keeping an eye on Brazil in 2020 with one high impact well currently drilling and... Continue Reading →
U.S. oil firm Noble Energy has hired a 7th generation Maersk drillship for its drilling operation in Colombia. Maersk Drilling said Friday that Noble had awarded it a one-well contract for the Maersk Valiant drillship. The contract is set to begin in the third quarter of 2020, right after the rig's contract with Repsol in... Continue Reading →
Brazil Energy Insight 