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U.S. oil and gas company Hess Corporation has increased its interest in an ExxonMobil-operated block located offshore Guyana on the back of recent oil discovery in the block. Kaieteur block off Guyana; Source: Ratio Petroleum Westmount Energy, one of the partners in the Kaieteur Block, on Monday noted the announcement by Ratio Petroleum that Hess... Continue Reading →
Brazilian oil company Petrobras has awarded offshore services provider Subsea 7 a "very large" contract for the delivery of subsea equipment for the Mero 3 deepwater field development, offshore Brazil. A very large contract, according to Subsea 7, is one worth between USD 500 and 750 million. The Mero-3 field is located some 200 kilometers... Continue Reading →
(Reuters) Offshore drilling rig contractor Maersk Drilling (DRLCO.CO) said on Thursday it saw some signs of market recovery as it reported that orders in the first quarter were at the highest level in more than three years. The company, which had already on Wednesday lifted its 2021 earnings guidance, said it added $730 million in new contracts... Continue Reading →
The subsea industry must act now to capitalize on the energy transition as the road to net zero is already underway and companies need to meet the change of pace required, according to Tom Heggarty, principal analyst in Wood Mackenzie’s Energy Transition Practice. Opportunities include facilitating the growth of the offshore wind market by supporting the installation of turbines, the... Continue Reading →
Danish offshore drilling company Maersk Drilling on Wednesday upgraded its financial guidance for the year 2021, on the back of improved contracting performance. "Maersk Drilling continues to demonstrate strong commercial and operational performance. Over the past months, Maersk Drilling has secured several new drilling contracts for execution in 2021, and further, Maersk Drilling has successfully - and... Continue Reading →
Subsea Integration Alliance, a partnership between OneSubsea and Subsea 7, has awarded offshore cable firm Nexans a contract to deliver umbilicals for Equinor's Bacalhau project offshore Brazil. Under the contract, Nexans will design, manufacture and deliver 44 km of steel tube umbilicals and accessories for Equinor's Bacalhau ultra-deepwater oil field development project. Equinor’s offshore project in... Continue Reading →
(OE) The number of FPSO leases set to expire in 2022 is significantly higher than the yearly average of ~3 since 2015, with the potential of 30 units becoming available by end of 2022, energy market research firm Westwood said Wednesday. Westwood says that under a scenario where no contract extensions are taken on currently... Continue Reading →
(TNPetroleo) The contract provides for the installation of the Direct Optical Wire Monitoring (DOWM)) system on flexible risers on three platforms in the Mero field, in the Libra block. The scope of the monitoring service considers flexible production, gas injection and water injection risers. By the end of 2020, Ouro Negro supplied more than 300... Continue Reading →
(PetroNoticias) Petrobras will intensify its exploratory activity in the coming months. The company confirmed that it will add two more drilling rigs to its fleet: the drill ship Norbe VIII, in the Libra block; and the monocolumn SS-91 (Developer) for projects in the Campos and Santos basins. The two units are expected to start operating... Continue Reading →
MCS has launched a mini remotely operated vehicle (ROV), MiniSpector, with the aim of reducing cost in subsea inspection and 3D metrology for the energy industry. As described by the company, the MiniSpector reduces the reliance on additional vessels and equipment since it launches from a platform. Some of the tasks the MiniSpector can deliver... Continue Reading →
Brazil Energy Insight 