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Maersk Drilling sold two oil drilling rigs to U.S.-based energy infrastructure company New Fortress Energy Inc (NFE) which it will convert into floating liquefied natural gas (LNG) facilities, the companies said on Monday.Maersk sold the jack-up drilling rig Maersk Guardian to NFE and the two companies have agreed to the sale of the Maersk Gallant offshore... Continue Reading →
TGS-NOPEC Geophysical Company (TGS) has reported a revenue of $186 million in the first quarter of 2021, an increase of 256% compared to $52 million in Q1 2020. EBITDA was $162 million and the operating result was $69 million, compared to $26 million and $-58 million, respectively, in the first quarter of the prior year.... Continue Reading →
The opening months of 2021 have witnessed markedly positive trends in the global subsea market, as evidenced by recent increases of up to 35% in day rates for some vessel types and a doubling of vessel fixtures between January and April compared to the corresponding period last year – much of which pre-dated the Covid-19... Continue Reading →
Canadian Kraken Robotics is expecting a revenue of $24 million to $28 million for the year ending on 31 December 2021, which would represent a more than 100% growth compared to $12.3 million in 2020. The growth is due to recent contract wins for KATFISH 180 towed sonars, as well as ALARS for the Danish and... Continue Reading →
Angolan offshore drilling firm Sonadrill, the 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a twelve-well contract in Angola for the Sonangol Quenguela drillship. The contract includes one option for nine wells and eleven one well options, Seadrill said Friday. Total contract value for the firm portion of the contract for... Continue Reading →
According to new research from Oxford Brookes University, vertical offshore wind turbines are much more efficient in large-scale wind farms than conventional turbines, and when used in pairs, vertical turbines can boost each other's output by up to 15%. A research team from the School of Engineering, Computing and Mathematics (ECM) at Oxford Brookes led... Continue Reading →
(PetroNoticias) Açu Petróleo signed a new contract with Petrobras to more than double the volume of oil exported by the oil company at the company's private terminal in Porto do Açu. With the new agreement, the state-owned company will be able to dispose of 240 million barrels of oil, equivalent to 300 thousand barrels per... Continue Reading →
Subsea tree order intake for the second quarter of 2021 is estimated at 82 units, representing 32 per cent of the anticipated 260 units to be awarded in 2021, according to market research provider Westwood. Key projects to watch in 2Q 2021 include Equinor’s Bacalhau and Total’s Lapa South West in Brazil, as well as Shell’s Whale in... Continue Reading →
(OE)SBM Offshore, one of the world's largest suppliers of FPSOs, has hired the Italian engineering firm Remazel Engineering for the supply of a mooring tensioning system and riser pull-in package for an FPSO being built for deployment at ExxonMobil's Stabroek block in Guyana. Remazel Engineering said that it would supply one of the world’s biggest... Continue Reading →
French oil services group CGG posted a 71% plunge in first-quarter core profit on Wednesday, reflecting a year of drastic spending cuts by the oil industry in the pandemic and sending its shares sharply lower. In a call with analysts, CEO Sophie Zurquiyah said the quarter had been slow as expected, but predicted more spending... Continue Reading →
Brazil Energy Insight 