TechnipFMC has signed a frame agreement with TotalEnergies for the delivery of subsea production systems offshore Angola. Under the agreement, TechnipFMC is set to deliver its Subsea 2.0 production systems for brownfield developments in Block 17 in Angola. “Subsea 2.0 products use standardized components that are pre-engineered and qualified, which allows equipment to be rapidly... Continue Reading →
Vestas warns Ukraine war adds to strain on wind industry, shares plummet
(Reuters) - Wind turbine maker Vestas (VWS.CO) posted a deep first-quarter loss and slashed its 2022 margin forecast due to the war in Ukraine and writedowns in its offshore business, reflecting an industry wide struggle to turn a profit despite record demand. Focus on renewables has intensified as the West steps up efforts to wean itself off... Continue Reading →
Petrobras starts production from FPSO Guanabara in the Mero field
Petróleo Brasileiro S.A. – Petrobras informs that, on April 30, 2022, it started producing oil and natural gas through FPSO Guanabara, the first definitive production system installed in the Mero field, in the Santos Basin pre-salt. The platform, an FPSO (floating unit for the production, storage, and transfer of oil and gas) type, is capable... Continue Reading →
Modec free to participate in future Petrobras tenders
(PN) The 13-month period of suspension of Modec from Petrobras bids comes to an end on the 30th of April. Petrobras suspended Modec for the poor performance in the operations of three FPSOs: Cidade de Rio de Janeiro, Cidade de Santos and Cidade de Niteroi. Modec's suspension from Petrobras' bids came into effect at the... Continue Reading →
In Offshore Energy, the Winds of Robotic Change are Blowing
Whether we realize it or not, robotics and robotics systems are starting to impact our daily lives. From warehouse picking systems through to high-end medical devices through to your mowbot lawnmower. Each tends to be specialized to its own task and a similar trend is now starting to play out in the offshore wind space,... Continue Reading →
Mero FPSO offshore Brazil close to start-up
(OM) Petrobras expects to start up the FPSO Guanabara next month at the Mero field in the deepwater Libra block, offshore Brazil. Connection activities at the oilfield – the third largest in Brail’s pre-salt regions after Búzios and Tupi – have finished, and the company is now waiting on regulatory approvals to initiate production. This is the first permanent... Continue Reading →
Wärtsilä’s Earnings in Line with Expectations
(Reuters) Finland's Wartsila, a top global marine and energy equipment maker, posted first-quarter earnings roughly in line with expectations on Thursday, citing increased uncertainty in demand and supply in its end markets. Wartsila said its comparable operating profit increased 61% to 65 million euros ($68.25 million) from 41 million in the year-ago quarter, against a... Continue Reading →
Subsea 7 sees growth in revenues, expects tendering activity to remain high
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant activity on the Sakarya project... Continue Reading →
TechnipFMC’s subsea orders hit $1.9 billion in Q1 2022
TechnipFMC has reported $1.9 billion of inbound subsea orders in the first quarter of 2022, an increase of 83% when compared to the fourth quarter of 2021, resulting in a book-to-bill of 1.5. For the Subsea segment, TechnipFMC reported revenue of $1,289.1 million, a 4.3% increase from the fourth quarter of 2021, primarily said to... Continue Reading →
Petrobras: Highlights on production and sales in 1Q22
In 1Q22, Petrobras kept a solid operating performance, with average oil, NGL and natural gas production reaching 2.80 MMboed, 3.4% above 4Q21. This result was achieved mainly due to the continuity of the ramp-ups of FPSOs Carioca (Sépia field) and P-68 (Berbigão and Sururu fields), located in the pre-salt of Santos Basin, to the lower... Continue Reading →
Brazil Energy Insight 