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Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports. McCaul bases his assessment on data in a new floating production systems report prepared by World Energy Reports. The report provides details for 206 floater projects... Continue Reading →
Japan’s floating solutions provider MODEC has received a notification from Brazil’s Petrobras that its eligibility to participate in new competitive bidding by Petrobras has been suspended for 13 months from 31 March 2021. MODEC said on Thursday that the main basis for this administrative sanction is losses to Petrobras presumably caused by the performance of... Continue Reading →
The company estimates to disburse resources in exploration, development and production in the order of U$ 40 million in 2021 and U$ 105 million for 2022. The projection has a variation margin of 20% negative or positive. Of the total set aside for this year, US$ 19 million will go to the Atlanta field, including... Continue Reading →
A Stena Drilling-owned drillship, Stena IceMAX, has arrived in Mexico ahead of its contract with the Spanish oil company Repsol. In a social media update on Wednesday, Stena Drilling said that the Stena IceMax rig had arrived in Tampico, Mexico to finalise preparations for its upcoming contract with Repsol. Repsol awarded the contract to the Stena drillship... Continue Reading →
Oil major ExxonMobil is preparing to start up a gas compressor on SBM Offshore’s Liza Destiny FPSO, operating offshore Guyana, this week following a technical issue that started in January 2021. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the Liza field located offshore... Continue Reading →
Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found. "Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for... Continue Reading →
Dutch offshore survey services company Fugro has agreed to sell its Seabed Geosolutions subsidiary to PXGEO Seismic Services (PXGEO) to for USD 16 million (approximately EUR 14 million) in cash. The transaction is expected to be completed mid-2021. The divestment includes Seabed’s ocean bottom node (OBN) inventory, handling equipment, related technology and order backlog. In... Continue Reading →
Malaysia's largest oil and gas services provider Sapura Energy on Tuesday said it has refinanced 10.3 billion ringgit ($2.48 billion) of its debt for a period of seven years. The company said the refinancing includes an $820 million term loan facility to be offered by banks in U.S. dollars and Malaysian ringgit, and the issuance... Continue Reading →
(Reuters) - Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects. The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions... Continue Reading →
The FTI Consulting liquidators, appointed as joint provisional liquidators for seismic contractor Polarcus, have filed a mandatory report to the Grand Court of the Cayman Islands. The joint provisional liquidators’ (JPLs’) first report, that was required to be submitted to the court before the end of March, summarises the work undertaken since the JPLs’ appointment on 8... Continue Reading →
Brazil Energy Insight 