Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group's Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. ... Continue Reading →
Baker Hughes awarded subsea contract for Petrobras’ Marlim and Voador fields in Brazil
Baker Hughes has been awarded a subsea oilfield equipment contract from Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. The contract includes several key technologies from Baker Hughes’ Subsea Connect portfolio and will provide Petrobras with a connected suite of solutions to help drive efficiencies, reduce... Continue Reading →
Petrobras starts contracting the ninth unit of the Búzios field
Petróleo Brasileiro S.A. – Petrobras informs that it has started, today, the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt area. Called P-80, the platform will be the ninth unit to operate in the field, with capacity to process 225 thousand barrels of oil and... Continue Reading →
An Industry First: Dutch Gas Platform to Run Entirely on Offshore Wind Power
Dutch oil & gas exploration and production operating company ONE-Dyas plans to power a platform at a North Sea gas extraction field solely by the electricity from the Riffgat offshore wind farm in the German part of the North Sea. ONE-Dyas, together with partners Hansa Hydrocarbons and EBN, aims to extract natural gas from the... Continue Reading →
RIX Mobile Hydrogen Generation System for Marine Environments
RIX Industries offers a mobile hydrogen generation system, the M2H2-Series scalable family of Methanol-to-Hydrogen Power Systems, bringing green power to shipboard and marine environments. With the ability to generate hydrogen onboard and on demand, the RIX M2H2-Series also eliminates the heavy footprint of cryogenic liquid hydrogen storage. These highly efficient power systems provide marine shipbuilders... Continue Reading →
NOV Reports First Quarter 2021 Results
NOV Inc. (NYSE: NOV) reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included... Continue Reading →
Subsea 7 S.A. Announces First Quarter 2021 Results
Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355) announced today results for the first quarter which ended 31 March 2021. First quarter highlights First quarter 2021 revenue up 33% year-on-year to $1.0 billionAdjusted EBITDA up 50% to $102 million after incurring net Covid-19 costs of approximately $9 millionOrder intake of $0.8... Continue Reading →
Shearwater hooks Polarcus assets
Seismic exploration company Shearwater GeoServices has acquired marine seismic acquisition assets previously owned by Polarcus. Shearwater announced two transactions agreed with Tiger Moth, a company affiliated with Woodstreet, for Polarcus assets which are controlled by the lenders from January 2021. Shearwater has acquired streamers and related seismic equipment for a total cash consideration of $50 million. The... Continue Reading →
PETROBRAS TO CONCLUDE FPSO BIDDING AND WELL COMPLETION OF PARQUE DAS BALEIAS IN MAY
(PetroNoticias) Petrobras is gradually resuming its project at Parque das Baleias, in the Espírito Santo portion of the Campos Basin. The next month promises to be decisive for the project, which last year was postponed for a year due to the consequences of the Covid-19 pandemic. At the end of May, Petrobras plans to open... Continue Reading →
Diamond Offshore emerges from Chapter 11 bankruptcy
Offshore drilling contractor Diamond Offshore Drilling and its debtor-affiliates have emerged from their Chapter 11 process after completing a financial reorganization under their joint plan of reorganization. Diamond said that it emerged from Chapter 11 on 23 April 2021. The restructuring provides substantial liquidity for the company, resulting in the equitization of approximately $2.1 billion... Continue Reading →
Brazil Energy Insight 