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Two giant offshore drilling contractors, Transocean and Valaris, are encouraged by continued and meaningful signs of improvement in the market environment and an increase in rig day rates and contract durations. Previously, reasons for optimism were also visible in the rig owners’ recent fleet status reports, where both companies reported on a number of new contracts... Continue Reading →
Sapote-1, ExxonMobil's third well in the Canje Block offshore Guyana, has, after the first two wells, Bulletwood-1 and Jabillo-1, failed to unearth evidence of commercial hydrocarbon volumes, too. Westmount Energy, an indirect partner in the Canje Block through its stake in JHI Associates, the Sapote-1 well on the Canje Block was drilled in 2,549 meters of water by... Continue Reading →
(OE) Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER. The market surge is being driven by crude... Continue Reading →
OneSubsea, a Schlumberger company based in Houston, Texas, United States, has signed a contract with Petrobras for subsea services in fields off the coast of Brazil, including inspection, maintenance, repairs, upgrades and parts supply, as well as installation services and commissioning. The contract is worth over US$200 million. The agreement includes a market differential by... Continue Reading →
(PetroNoticias) Vaccination against covid-19 is advancing around the world, but the effects of the pandemic still reverberate in some economic activities. In the case of Petrobras, for example, the company is evaluating possible effects of the pandemic on the works of the FPSO Almirante Barroso, which will be installed in the Buzios field. “In relation... Continue Reading →
Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes. We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs are about to be reactivated for new jobs in the Golden Triangle, and Valaris is taking the lead. Just last... Continue Reading →
(OE) Offshore seismic data companies TGS, CGG, and PGS, a unified seismic data ecosystem giving access to "three of the world’s largest multi-client libraries via a single log-in." They've named the ecosystem Versal. "Versal is an independent, secure, cloud-based, multi-client seismic data ecosystem where clients can easily access all their data and entitlements in one... Continue Reading →
Weak quarterly results and mixed 2022 guidance overshadowed a new business plan from Saipem on Thursday, sending shares in the Italian energy services group down more than 8%. In his first strategy plan, Chief Executive Francesco Caio said Saipem expected to start growing again next year as its offshore business and drilling bounce back from... Continue Reading →
(OE) A complete subsea factory may yet be a pipe dream. However, with its constituent parts now more or less ready, the industry has a much greater toolbox of technologies with which it can now apply to existing and new subsea developments. But is there willingness, even with the temptation of being able to reduce... Continue Reading →
(OE) Despite oil prices recently edging past $80 a barrel, scars from two recent oil industry downturns in five years have forced offshore seismic surveyors to look at ways to diversify. Marine seismic survey companies provide essential data to offshore oil and gas explorers to make better-informed drilling decisions. However, with every oil industry downturn,... Continue Reading →
Brazil Energy Insight 