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(PN) PRIO released its operational data for May this week. The company recorded a production of 88.7 thousand barrels per day of oil equivalent, which represents a drop of 4.4% compared to the previous month's result (92.7 thousand barrels per day).(PN) According to the company, the Frade field had its production impacted due to the... Continue Reading →
(OE) Dutch FPSO leasing specialist SBM Offshore has informed that its Fast4Ward hull has been reserved by TotalEnergies for the Block 58 development project, offshore Suriname. SBM Offshore is working in partnership with Technip Energies, and in line with the Front-End Engineering and Design (FEED) studies for a floating production, storage and offloading vessel (FPSO)... Continue Reading →
(PN) Enauta is close to completing the anchoring of the new FPSO for the Atlanta field, in the Santos Basin. In parallel, the latest subsea equipment for the first oil from the new production system has already been installed. The company is working on the final preparations to start operating the field's Definitive System, through... Continue Reading →
(PN) PetroReconcavo signed a contract to sell 50% of its stake in seven concessions to Mandacaru Energia (Ubuntu). The assets (Acauã, Baixa do Algodão, Fazenda Curral, Fazenda Malaquias, Pajeú, Rio Mossoró and Três Marias) are located in the Potiguar Basin, in the state of Rio Grande do Norte. The fields currently produce 390 barrels of... Continue Reading →
(OM) TotalEnergies, together with APA Corporation and Staatsolie, has made progress toward reaching the final investment decision (FID) for the development of deepwater Block 58 offshore Suriname, expected to be made in the fourth quarter of 2024. TotalEnergies is the operator of Block 58 with a 50% interest, alongside APA Corporation (50%), while Staatsolie has... Continue Reading →
(OM) Demand for floating and jackup rigs is ramping up worldwide, with operators particularly active for drilling campaigns in the “golden triangle” of the US Gulf of Mexico, Africa and Brazil, according to Evercore ISI’s latest Offshore Rig Market Snapshot. The oilfield services investment consulting firm based its analysis on 1Q 2024 earnings results. In the US,... Continue Reading →
By Matthew Smith for Oilprice.com In a controversial move, Colombia’s leftist President, Gustavo Petro, banned awarding new hydrocarbon exploration contracts. He also sought to ban hydraulic fracturing in the conflict-riven country, which is economically dependent on petroleum extraction. Those government policies, coupled with tax hikes for Colombia’s extractive industries along with a lack of major oil and... Continue Reading →
(Offshore-energy.biz) Brazilian oil and gas player Enauta has resumed production from one of its floating, production, storage, and offloading (FPSO) vessels working on a field offshore Brazil, following maintenance. Enauta reported that production in the Atlanta field in Brazilian waters was restarted on May 25, 2024, following five-day maintenance on the FPSO Petrojarl I. The platform’s operational availability... Continue Reading →
(Offshore-energy.biz) While global efforts to break away from emission-intensive fossil fuels and pivot to low-carbon and renewable energy alternatives have grown by leaps and bounds since the Paris Agreement came onto the scene, concerns over energy security, rising demand, and population growth have enabled coal, oil, and gas to spread their wings further, with over... Continue Reading →
(Reuters) British oil major BP and Trinidad and Tobago's state energy firm NGC have received a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister said on Wednesday. Washington last month did not renew a broad license that had allowed Venezuela to freely export... Continue Reading →
Brazil Energy Insight 