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Petrobras opened today the envelopes with the proposals to build their own P-78 and P-79 FPSOs. The Keppel / Hyundai consortium presented the lowest price in Petrobras' bid for the construction of the P-78, the oil company's own FPSO that will be used in the Búzios project. Three Korean shipyards submitted proposals and participated in... Continue Reading →
Lenders of the troubled marine seismic contractor Polarcus, which last week took control of the company's vessel after a debt payment default, will sell Polarcus' vessels and all the employees will be let go. Banks last week tool control of Polarcus' subsidiaries that own seismic vessels, with the subsidiaries in question being Polarcus Asima AS,... Continue Reading →
Italian engineering and construction services firm Saipem has won a contract worth 460 million euros (around $556 million) to build and install foundations at a wind farm offshore France. The contract, awarded by Eoliennes Offshore du Calvados SAS (EODC) for the Courseulles-sur-Mer Offshore Wind Farm in Normandy, France, is subject to EODC reaching a final investment decision... Continue Reading →
Forbearance agreements entered into by offshore drilling contractor Seadrill Limited with certain creditors in respect of the group’s senior secured credit facility agreements have now expired. Seadrill said that the term of the forbearance agreements expired on 29 January 2021 and that the creditors with which forbearance agreements were entered into were no longer prevented... Continue Reading →
Seismic contractor PGS has completed GeoStreamer acquisition on 17th Round Blocks in Campos Basin offshore Brazil. Ramform Titan has surveyed additional open acreage to complete PGS coverage of the emerging plays of the outboard Campos Basin. This survey provides the first 3D seismic for Brazil’s 17th round, scheduled for October 2021. According to PGS, fast-track anisotropic... Continue Reading →
The Australian oil company Karoon Energy announced the plans for the acquisition of necessary equipment for the Patola field, in the Santos basin. The agreement was signed with TechnipFMC and provides for long-term items that will be used in the development of the asset. The information was disclosed in the company's financial and operating balance... Continue Reading →
Following loan default, Polarcus’ lenders have taken control of its vessels and shipholding unit. On Tuesday this week, Marine seismic player said it had defaulted on debt payments and that it will halt all interest and installment payments to finance providers. That same day, the company’s shares fell over 30 percent before the Oslo Stock Exchange stopped its... Continue Reading →
Singapore's Keppel Offshore & Marine, a company famous for its offshore rig construction, is set to undergo a major transformation, look for opportunities as a developer and integrator of offshore energy and infrastructure assets, and exit the offshore rig building business. The company will be restructured into three parts, separating construction and ownership of legacy... Continue Reading →
(Reuters) - Three consortia including Asian shipyards are preparing to compete to build Brazil’s Petrobras’ first two in-house platforms in more than seven years, according to four people familiar with the tender who declined to be named as the information is private. Samsung Heavy Industries Co, Hyundai Heavy Industries Holding Co Ltd and Daewoo Heavy... Continue Reading →
Lenders took control of Polarcus' ships on Tuesday after the seismic surveyor defaulted on its bank loans and bonds, hit by a drop in spending by energy companies struggling with the COVID-19 pandemic and volatile oil prices. The company's Oslo-listed shares plunged as much as 47% after they resumed trading following an earlier suspension. Polarcus said lenders... Continue Reading →
Brazil Energy Insight 