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Oil and gas company Apache Corporation has selected its fifth exploration well offshore Suriname in Block 58 and filed appraisal plans for two previous discoveries. Apache said in its third-quarter financial report that the company has selected its fifth exploration well – named Bonboni –situated in the North Central portion of Block 58. The company... Continue Reading →
A further increase in the gross recoverable resources is anticipated at Guyana’s Stabroek Block, adding to the recently upgraded 9 billion boe estimate, according to Hess Corporation. Greg Hill, Chief Operating Officer, explained to investors on the company’s Q3 earnings call last week that the 9 billion barrels of oil equivalent (boe) upgrade that was... Continue Reading →
Crane specialist Palfinger will deliver two wire luffing lattice boom cranes to the largest FPSO vessel ever delivered to Brazil. The FPSO, to be delivered by Japan's Modec, will be deployed at Equinor's Bacalhau field (formerly Carcará), about 185 kilometers off the Brazilian coast – south of São Paulo – at a water depth of around 2,050 meters.... Continue Reading →
Baker Hughes Co said on Tuesday it would buy Compact Carbon Capture AS in a bid to expand its footprint beyond oil and gas oilfield services as it prepares for a transition to a low-carbon future. Facing pressure from shareholders worried about the climate impact of fossil fuel and a plunge in oil and gas... Continue Reading →
Oilfield services provider Petrofac has completed the disposal of its non-core assets in Mexico to Perenco, but the two companies have entered into a dispute related to this transaction. Petrofac first sold a 49 per cent of its operations in Mexico to Perenco back in October 2018. This included contracts for work on the Santuario and... Continue Reading →
Offshore drilling contractor Transocean booked a profit in the third quarter of 2020 backed by a gain on restructuring and retirement of debt, offset by a loss on disposal of assets. Transocean on Monday reported a net income attributable to controlling interest of $359 million for the third quarter of 2020 compared to a loss a year... Continue Reading →
Norwegian company Aker Offshore Wind has received funding from Enova for a pre-project that aims to reduce costs and increase maturity in important technical segments of offshore floating wind. Enova is Norway’s innovation fund for environmentally friendly technologies. The objective of the project is to better understand how technology solutions can enable the use and development of a Norwegian... Continue Reading →
Well abandonment services provider Well-Safe Solutions has secured a £26 million ($33.6 million) investment to fund the next phase of the company’s growth plan. Well-Safe said on Monday that the further investment into the decommissioning company was led by MW&L Capital Partners, following their initial investment of $85 million to the company back in October 2019. Phil... Continue Reading →
Offshore drilling firm Pacific Drilling and certain of its subsidiaries have filed for Chapter 11 bankruptcy with the aim to eliminate $1.1 billion debt. The company, which had previously filed for Bankruptcy in 2017, said Friday that it and certain of its domestic and international subsidiaries had filed voluntary petitions for relief under Chapter 11 of... Continue Reading →
Solstad Offshore said that Petrobras has extended the current contract of RSV Far Saga for a period of one year and picked up another vessel for operations in Brazil. According to Oslo-listed Solstad, the contract starts on Friday, 30 October 2020. The Far Saga has been operating in Brazilian waters since 2014. In addition, Petrobras has confirmed the... Continue Reading →
Brazil Energy Insight 