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Back-deck equipment specialist Maritime Developments MDL has supported engineering and marine services company DOF Subsea with SURF work packages in Angola. The MDL spread consisted of a second-generation reel drive system, four-track 85Te pipelay tensioner and an overboarding chute. It was mobilised onboard the offshore construction vessel Skandi Seven to perform SURF installation scopes of work.... Continue Reading →
(OEM) The board of directors of Italy’s Saipem has approved the offshore drilling contractor’s first sustainability plan, which represents an integrated strategy that combines business and financial objectives with environmental, social and governance (ESG) criteria, enabling the firm to reach net-zero by 2050. Saipem revealed on Tuesday that its board of directors, chaired by Chairman Silvia... Continue Reading →
(Reuters) Norwegian oil services firm Aker Solutions raised its 2022 revenue outlook as it sees increased activity from oil and gas companies, with tender activity heading for a new record, it said on Thursday. The company now expects its 2022 revenues to rise by around 30% year-on-year, compared with the rise of more than 20%... Continue Reading →
Equinor's Hywind Tampen floating wind farm in Norway will become operational this year, becoming the world's largest floating wind farm, however, it will not be as big as planned, at least not in 2022, due to steel quality issues found in four of 11 turbines. Namely, as previously reported, Equinor is developing the 11 turbine... Continue Reading →
(Reuters) - A pool of banks will have to buy shares worth at least 400 million euros ($401 million) in Saipem (SPMI.MI) after a cash call by the Italian energy services firm failed to raise the 2 billion euro target it was seeking from investors. Saipem SpA said on Monday it had raised only around 1.4 billion... Continue Reading →
(Upstream) As the world begins the shift towards cleaner and more efficient sources of energy, Brazil's focus can sometimes seem to be fixed on fossil fuels. This is understandable, considering Brazil's pre-salt oil fields are capable of producing more competitively and, advocates say, with lower emissions than just about any other offshore province. In a... Continue Reading →
(Reuters) - Shares in Italy's Saipem (SPMI.MI) fell as much as 40% on Tuesday after investors subscribed for only 70% of its 2 billion euro cash call, signalling limited confidence in the turnaround plan for the Italian energy services group. Saipem said on Monday it had raised around 1.395 billion euros ($1.4 billion) at the closing of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it is reassessing the date for the start of operation of the Route 3 Integrated Project, scheduled for the second half of 2022, due to the demobilization of the workforce of the company SPE Kerui-Método, responsible for the works of the Natural Gas Processing Unit (UPGN) of the... Continue Reading →
(PN) The platform ship (FPSO) Anna Nery left the Cosco Qidong shipyard in China and began its journey to Brazil. In the next two weeks, the vessel will carry out navigation tests in Chinese waters. It will then make stops in Singapore and Mauritius, to refuel and change crews. The arrival in Brazil is scheduled... Continue Reading →
(Reuters) - Italy's Saipem (SPMI.MI) has raised around 1.395 billion euros ($1.4 billion) to stabilise its finances, the energy services group said on Monday, adding that around 70% of the new shares it was issuing in a cash call were subscribed. Last month Saipem launched a 2 billion euro hyper-dilutive capital increase, which was open until Monday,... Continue Reading →
Brazil Energy Insight 