Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development. The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday. The development of the field located in the Santos Basin will cost around $8 billion.... Continue Reading →
Karoon adds more wells to Maersk rig backlog
Oil and gas company Karoon Energy has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the Maersk Drilling-owned semi-submersible rig Maersk Developer. The work is expected to start in the second half of 2022, in direct continuation of the rig’s previously... Continue Reading →
TechnipFMC Awarded First iEPCI™ in Brazil for the Karoon Patola Field
(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) today has been awarded its first integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract in Brazil by Karoon Energy (ASX:KAR) for the Patola field development. The contract covers engineering, procurement, construction and installation of subsea trees, flexible pipes and umbilicals. The project will take place at water depths of 300 meters... Continue Reading →
Schlumberger estimates revenues over $22.5 billion for 2021
Top oilfield service provider Schlumberger NV (SLB.N) on Wednesday estimated 2021 revenues would top $22.5 billion, as oil and gas prices recovered and the company tapped into a growing market for low-carbon technology. The company expects 2021 adjusted EBITDA margins of between 20.8% and 21.3%, according to a conference presentation, and free cash flow margins over 10%.
Biden Allows Chevron, U.S. Oilfield Services Firms to Remain in Venezuela till Dec. 1
Chevron Corp, the last major U.S. oil company still operating in Venezuela, received a new U.S. government license allowing it to remain in Venezuela until Dec. 1, the Treasury Department said on Tuesday. The United States beginning in 2019 imposed sanctions barring imports of Venezuelan oil and transactions made in U.S. dollars with Venezuela's state-run... Continue Reading →
Report: Global OSV Market Facing Utilization Challenge, Despite Demand Recovery
Despite projected demand recovery post-2020, the global offshore support vessel (OSV) market continues to face a utilization challenge, a joint research by Braemar ACM Shipbroking (Braemar) and Westwood Global Energy Group has shown. According to the press statement released Wednesday, over the course of 2020, estimates for total utilization for the global OSV market fell... Continue Reading →
Subsea Integration Alliance confirms Bacalhau gig
Subsea Integration Alliance, the partnership between Subsea 7 and OneSubsea, has officially secured the EPCI contract with Equinor for the Bacalhau field in Brazil. The work scope covers the engineering, procurement, construction and installation (EPCI) of the subsea pipelines (SURF) and production systems (SPS) for the field located 185 kilometers from the coast of São... Continue Reading →
Subsea Integration Alliance expects soon EPCI contract confirmation from Equinor – Bacalhau
Subsea Integration Alliance, the partnership between Subsea 7 and OneSubsea, is anticipating the final confirmation of an EPCI contract with Equinor for the Bacalhau field “in the near future”. If confirmed, the work scope will cover the engineering, procurement, construction and installation (EPCI) of the subsea pipelines (SURF) and production systems (SPS) for the field located... Continue Reading →
Equinor Sanctions $8B Bacalhau Field Development in Brazil
Norwegian oil and gas company Equnior has made a final investment decision for the development of the Bacalhau field offshore Brazil. The development of the field located in the Santos Basin will cost around $8 billion. Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling, and Procurement said: "This is an exciting day. Bacalhau is the... Continue Reading →
IBAMA GRANTS FPSO SEPETIBA INSTALLATION LICENSE IN CAMPO DE MERO
(PetroNoticias) The Brazilian Environment Institute (Ibama) granted the installation license for the FPSO Sepetiba, the second platform vessel to be installed in the Mero field, in the Santos Basin pre-salt. The document will be valid until May 2025 and also covers the collection and disposal system associated with the vessel. The Sepetiba FPSO should start... Continue Reading →
