Norwegian oil and gas company Equinor has extended the contract with the engineering and consulting firm for the delivery of maintenance solutions across the Peregrino wellhead platforms (WHP) and FPSO, located offshore Rio de Janeiro, Brazil. "This is the third one-year extension awarded to the team, with the contract initially secured in 2015 as a... Continue Reading →
Tullow Leaves Suriname
Suriname has been described as the next big thing in the offshore oil and gas exploration world, as its proximity to Guyana where ExxonMobil has discovered around 10 billion barrels of oil so far has led oil companies, including ExxonMobil, to hope there's similar riches to be found in the Surinamese waters, too. However, while the... Continue Reading →
Climate policies should focus on demand as falling costs make new oil cheaper to produce, Rystad says
An analysis of the annual cost of supply by the Norwegian energy intelligence firm, Rystad Energy, has revealed that costs within the upstream sector have come down considerably in 2021, making new oil more competitive and significantly cheaper to produce. However, Rystad noted that climate policies may fail unless they focus on demand rather than... Continue Reading →
3R PETROLEUM: PRODUCTION OF 6,666 EQUIVALENT BARRELS PER DAY IN OCTOBER
(Valor) 3R Petroleum released its production data for the month of October. According to the company, the consolidated average daily production of the Macau, Rio Ventura and Pescada clusters was 7,630 barrels of oil equivalent (boed). The portion referring to the participations of 3R reached a production of 6,666 boed. The company points out that... Continue Reading →
PETRORIO: to complete workovers of wells at Tubarao Martelo by end this year
PetroRio plans to complete the workovers of the two wells with production halted in the Tubarao Martelo field, in the Campos Basin, in November and December of this year, informed the independent company in an operational. With the repair process expected to be completed this month, the first well, TBMT-2H, has been out of operation... Continue Reading →
PetroRio reports net income of R$125 million in the third quarter of 2021
Completion of the tieback between the Polvo and Tubarão Martelo fields, in the Campos Basin, allowed for a reduction in operating costs ("OPEX") of US$ 50 million per year The third quarter results evidenced PetroRio's successful strategy of increasing production levels and rationalizing costs, with excellence in environmental responsibility, safety and operational efficiency. The largest... Continue Reading →
TGS, CGG, BGP to Carry Out Seismic Surveys Offshore Suriname
Three marine seismic data acquisition and processing companies TGS, CGG, and BGP have signed a multi-client agreement with Suriname's national oil firm Staatsolie. Under the agreement, the consortium will be able to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname. Suriname’s shallow... Continue Reading →
3R CONSULTATION ON ANALYSIS OF FUTURE DEVELOPMENT PLANS BY ANP
(PetroleoHoje) 3R Petroleum must submit new development plans (PDs) to reduce royalties and/or extend contracts for newly acquired fields within one year after approval of the Annual Work Programs (PAT), Annual Production Programs (PAD) and Annual Reserve Bulletins (BAR) by the ANP. In an official letter to the agency, the company proposed the presentation of... Continue Reading →
Suriname state oil firm, Chevron sign offshore oil output sharing contract
(Reuters) - Suriname state oil company Staatsolie on Wednesday said it had signed a 30-year production sharing contract with U.S. producer Chevron Corp (CVX.N) for the South American country's offshore Block 5. Chevron Exploration Suriname Ltd and a consortium by TotalEnergies and Qatar Petroleum (QATPE.UL) in June submitted favorable bids for shallow-water exploration in Blocks 5, 6... Continue Reading →
TechnipFMC pipelay support vessel secures long-term charter offshore Brazil
Petrobras has awarded TechnipFMC a three-year contract for the pipelay support vessel Coral do Atlântico. Operations offshore Brazil are expected to begin in 2Q 2022. The Brazilian-registered vessel will mainly be deployed in ultra-deepwater of up to 3,000 m (9,842 ft). Jonathan Landes, president, Subsea at TechnipFMC, said: “Coral do Atlântico is the third of our pipelay support vessels to be contracted... Continue Reading →
Brazil Energy Insight 