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With the energy transition gaining pace, several exploration and production (“E&P”) companies have adjusted their business models; both to reduce emissions and to mitigate climate-related business risks. E&Ps may be grabbing the headlines regarding the oil and gas industry’s response to the energy transition, but the core of their supply chain – Oil Field Services (“OFS”)... Continue Reading →
Bassoe Analytics, a Norwegian offshore drilling rig data company, said Tuesday it has merged with Greenpact Data. The merged company, called Esgian, has been described as a provider of Environmental, Social, and Corporate Governance (ESG) impact analytics for the energy transition. According to info on its website, Esgian's mission is to create "independent and innovative data... Continue Reading →
Petrobras informs that it has launched the More Value Program (Programa Mais Valor), a new financial solution tool for suppliers. The pilot started last week and, in November 30th, the tool will be opened to companies interested in anticipating invoices with more competitive rates. The program seeks to stimulate the oil and gas production chain... Continue Reading →
Investments from global exploration and production companies (E&P) in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows. However, about 20 per cent of this amount could be at risk. About 20 per cent or $76 billion of the estimated 2021 investments could be at risk of deferral... Continue Reading →
ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production, storage and offloading unit (FPSO) project for the Bacalhau field, offshore Brazil. The Bacalhau FPSO, the largest ever ordered for Brazil, will be... Continue Reading →
French oil major Total has awarded a conditional letter of award to Danish offshore drilling firm Maersk Drilling for the supply of two deepwater rigs, Mærsk Developer and Maersk Valiant, for an exploration and appraisal project in Suriname’s Block 58. Suriname's Block 58 is where Total, with its partner Apache, has struck several oil discoveries in... Continue Reading →
While trying to restructure its debt, offshore drilling contractor Seadrill has managed to agree on the suspension of payments with creditors related to leasing arrangements for three drilling rigs and the corresponding financing agreements. Seadrill said last Friday it had entered into forbearance agreements with certain creditors in respect of the group’s senior secured credit... Continue Reading →
Offshore drilling contractor Noble Holding Corporation has received approval from a bankruptcy court for its reorganization plan. Noble Corp. filed for Chapter 11 bankruptcy protection to restructure its debt in early August 2020 following a severe downturn in commodity prices amid Covid-19 pandemic. The company then in early November 2020 changed its name to Noble Holding Corporation... Continue Reading →
Oilfield services provider Aker Solutions has won a framework agreement with Equinor to provide maintenance and modifications services at the Peregrino field, offshore Brazil. The contract has a fixed period of four years and includes an option for a two-year extension, Aker Solutions said on Monday. The new contract means an expansion of the more... Continue Reading →
Offshore drilling contractor Seadrill has added approximately $52 million to its backlog following the end of the third quarter of 2020. Seadrill is also looking to manage its rig count by recycling some of its rigs as it prepares for a prolonged period of low offshore activity and demand. Seadrill said on Friday that the Sevan... Continue Reading →
Brazil Energy Insight 