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(Reuters) An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said. Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation... Continue Reading →
(offshore-mag.com) Global expenditure on subsea facilities is set for a 10% compound annual growth rate (CAGR) from 2024 to 2027, according to research by Rystad Energy. The consultants project a total capex spend for the period of more than $42 billion. Some of the biggest investments are taking place in South America and Europe. In... Continue Reading →
(Oilprice.com)U.S. shale producer Occidental Petroleum Corp. (NYSE:OXY) and Colombia's integrated energy company Ecopetrol S.A. (NYSE:EC) are planning to drill an offshore oil well off Colombia's waters in seas roughly 3,900 meters (close to 13,000 feet) deep before the year is out, Bloomberg has reported. Dubbed Komodo-1, the ultra-deepwater well will qualify as the deepest offshore oil well in the world, beating... Continue Reading →
(Oil Now) Subsea7 is closely watching Suriname’s offshore oil sector, with hopes of winning a massive subsea contract to support TotalEnergies’ Block 58 project. In a Q2 earnings presentation, Subsea7 listed the Suriname project among a selection of Invitations to Tender (ITT) in-house or expected in the next 12 months. It expects the contract to... Continue Reading →
(OE) MODEC has secured an Approval in Principle (AiP) for Abate Notation from classification society DNV for its FPSO Bacalhau, set for deployment at an Equinor-operated oil project offshore Brazil. In this project, a comprehensive assessment of greenhouse gas emissions abatement on FPSO Bacalhau was conducted according to DNV guidelines. The Abate notation requires stringent... Continue Reading →
(Oil Now) Suriname’s shallow water bid round has closed and according to its state oil company, Staatsolie, “several bids” were received. “We would like to thank the companies which have shown their interest,” the Staatsolie said in a recent announcement. The state oil firm is yet to release the companies that submitted bids and for... Continue Reading →
(OE) Oil and gas company Enauta has completed the anchoring of the floating production storage and offloading (FPSO) unit Atlanta at a field in Santos Basin, offshore Brazil. However, the production start from the unit might face delays due to announced strikes by the officials working in public institutions. In June, Enauta completed the anchoring... Continue Reading →
(OE) Shell Trinidad and Tobago, a subsidiary of Shell, has taken Final Investment Decision (FID) on the Manatee project, an undeveloped gas field in the East Coast Marine Area (ECMA) in Trinidad and Tobago. Manatee will allow Shell to competitively grow its Integrated Gas business by building on development efforts in the ECMA, one of... Continue Reading →
(Offshore-energy.biz) Brazil is poised to become a significant player in the global ship recycling market, the NGO Shipbreaking Platform said. With the country’s extensive coastline and robust maritime industry, many existing facilities, primarily engaged in shipbuilding and repair, have the potential to expand into recycling, according to the NGO. Professor Newton Pereira from the Federal Fluminense University... Continue Reading →
(Oil Now) Guyana is set to welcome a trailblazing new floating production, storage and offloading (FPSO) vessel next year. The ONE GUYANA vessel, being constructed by SBM Offshore, is targeting the highest initial oil production observed in the industry for an FPSO—250,000 barrels per day (b/d). The FPSO is destined for the ExxonMobil-operated Stabroek Block.... Continue Reading →
Brazil Energy Insight 