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(Reuters) - Schlumberger NV (SLB.N), the world's largest oilfield services company, reported a rise in fourth-quarter profit on Friday, as higher crude and natural gas prices drove up demand for its services and equipment. Oil prices surged about 50% last year and are currently trading at seven-year highs on the back of a vaccine-fueled demand recovery... Continue Reading →
In 2021, offshore accommodation provider Prosafe saw its vessel utilisation more than double when compared to the previous year and reach the highest rate since 2015. In an update on Friday, Prosafe reported that its fleet utilisation rate in 4Q of 2021 was 59.3 per cent compared to 25 per cent in 4Q 2020. The... Continue Reading →
(WO) Oilfield service providers have long played a critical role in the technical advancement of the upstream oil and gas industry. As the frontline provider of equipment and expertise, operators from the largest national oil companies to the smallest of independents count on these firms to drive technical innovation, improving performance in the field under... Continue Reading →
Fugro has secured a subsea survey and positioning contract with Maersk Supply Service to support the installation of an anchoring system for the floating production storage and offloading (FPSO) vessel Sepetiba at Petrobras’ deepwater Mero 2 project in Brazil. For the project, Fugro will use its QuickVision augmented reality camera to help guide the installation... Continue Reading →
Brazilian oil and gas company Enauta has completed the repair of a production line on the Petrorajrl I FPSO, which is operating on the Atlanta field offshore Brazil, but the production from the field is still shut down due to a Covid-19 outbreak. The Enauta-operated Atlanta field is located in the Santos Basin. The field producing through... Continue Reading →
Baker Hughes Co on Thursday reported an adjusted quarterly profit compared with a year-ago loss, as producers took advantage of a rise in crude prices that fueled demand for oilfield service equipment. Oil prices surged more than 50% last year on hopes of a global economic recovery from the COVID-19 pandemic and as OPEC+ cut... Continue Reading →
Demand for wet Christmas trees in 2022 will hit the highest level in nearly a decade, according to a new forecast from Westwood Energy. The company predicts that the global oil and gas sector can hire up to 354 units, the highest number recorded since 2013. The forecast considers that the barrel of oil should... Continue Reading →
Australia’s FAR Limited is working towards expediting the evaluation of results encountered during the drilling of the Bambo-1 exploration well offshore The Gambia, hoping to devise a new exploration plan. FAR feels encouraged by the data collected during the drilling programme, believing there is a prolific oil source in the area, despite encountering no moveable... Continue Reading →
Brazilian oil and gas company Enauta has signed agreements with Altera to extend the charter, operation, and maintenance of Petrojarl I FPSO for the Early Production System (EPS) of the Atlanta field located offshore Brazil. Located in the Santos Basin, the Atlanta field is operated by Enauta Energia, a wholly-owned subsidiary of the company, which also has... Continue Reading →
(OM) PetroRio has commissioned a workover on the OGX-44HP well at the Tubarão Martelo field in the southern Campos basin offshore Brazil, following a failure in the electrical submersible pump. The well is currently shut-in, with the Kingmaker rig expected to complete intervention work later this month. Production is connected to the FPSO Bravo
Brazil Energy Insight 