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Brazil’s offshore vessel operator CBO has closed the acquisition of compatriot player Finarge Apoio Maritimo, taking over five AHTS vessels in the transaction. Finarge is a Brazilian shipping company founded in 2008 as a subsidiary of the Italian company Finarge SRL, which was established in 1981 by the Italian company Rimorchiatori Riuniti S.p.A. Finarge is... Continue Reading →
SBM Offshore's Liza Unity FPSO, which last week set sail from Singapore en route to Guyana, has been awarded the SUSTAIN-1 notation by classification society ABS – the first FPSO in the world to receive it. According to ABS, the SUSTAIN-1 notation demonstrates the vessel’s alignment with key elements of the Environmental, Social, and Governance... Continue Reading →
Petrobras, the Government of the State of Rio de Janeiro, the city of Itaboraí and the Federation of Industries of Rio de Janeiro (Firjan) signed a protocol of intentions for the industrial development of the surrounding region of Polo GasLub, in Itaboraí (ex Comperj) The purpose of the protocol is to create conditions for the... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador is facing arbitration claims stemming from contractual disputes with two private contractors, the company said on Friday, adding that the processes would not affect crude output. Kamana Services and Servicios Petroleros Igapó separately presented claims stemming from disputes over services contracts signed with Petroecuador in 2016 to the... Continue Reading →
Liza Unity FPSO, set to become Guyana's second offshore production unit, has been completed in Singapore and has set sail towards Guyana. Keppel Shipyard, responsible for the construction and integration of the topside modules with the China-built FPSO hull said Thursday it had delivered the FPSO to SBM Offshore. Once in Guyana, the FPSO will... Continue Reading →
U.S. oil firm ExxonMobil has made another oil discovery offshore Guyana, this time at Pinktail prospect in the prolific Stabroek Block. The Pinktail well, ExxonMobil said, encountered 220 feet (67 meters) of net pay in high-quality hydrocarbon-bearing sandstone reservoirs. Pinktail is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 development, which... Continue Reading →
Remotely operated vehicles specialist ROVOP has appointed Daniel Wheeler as its new President for the Americas, to lead the company in Houston as it prepares for its next phase of growth in the region both in oil and gas and in the emerging offshore wind sector there. "The growth comes on the back of a... Continue Reading →
(Reuters) - Oilfield service firms Schlumberger (SLB.N) and Baker Hughes (BKR.N) are counting on newer energy transition businesses like carbon capture and hydrogen fuel for growth, and expect these clean energy units to rival some of their more traditional units by the next decade, executives said on Wednesday. Schlumberger estimates that global investments for industries moving away from fossil... Continue Reading →
(Reuters) - Schlumberger NV (SLB.N), the world's leading oilfield service provider, expects to materially grow its margins and cashflow over the medium and short term horizons, Chief Executive Officer Olivier Le Peuch said on Wednesday. The company expects to reach adjusted EBIDTA margins of 25%, or a 500 basis point expansion from pre-pandemic levels, over that... Continue Reading →
BW Offshore, an Oslo-listed firm best know for its FPSO leasing business in the oil and gas sector, said Wednesday it had, together with U.S. renewable energy and utility company Invenergy, submitted bids to develop up to 5.4 gigawatts of offshore wind as part of the first offshore wind ScotWind leasing round in Scotland, UK. "Together, we... Continue Reading →
Brazil Energy Insight 