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Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter. "We are not out of the woods yet ... (but) the picture starts to get brighter," Chief Executive Stefano Cao said in a conference call. Saipem... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit's physical progress. It was also agreed to prepare a new Development Plan... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras approved yesterday the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have signed contracts, agreements... Continue Reading →
Cosan presented a proposal to buy the 51% stake in Gaspetro, a Petrobras subsidiary, which operates in the natural gas distribution market. The offer will be made through Compass, a company created by Cosan to concentrate investments in the gas and power generation market. Gaspetro holds stakes in 19 gas distributors, which exclusively operate local... Continue Reading →
Seismic survey services company Shearwater GeoServices has won a five-month contract extension for CGG’s Brazil Nebula multi-client survey. This extension-period starts in the late fourth quarter of 2020 and will be conducted by the Oceanic Sirius vessel. To remind, Shearwater had first won the contract with CGG for the Nebula project in July 2020. In a separate... Continue Reading →
Up to a quarter of the active floating drilling rig fleet - drillship and semi-submersibles - could be scrapped, as the demand, which had never recovered from the previous downturn, is now expected to remain under pressure "until 2022," Rystad Energy, a Norwegian energy intelligence firm said. "The new downturn that the Covid-19 pandemic has... Continue Reading →
News in exploratory activity in the Campos Basin. Petrobras started drilling the first well in block C-M-411 this week. The operation is being carried out with the West Tellus drillship, in a water depth of 2,953 meters. The pioneer well was named after the technical name 1-BRSA-1377-RJS. As a reminder, block CM-411 was purchased by... Continue Reading →
Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities. No one could have... Continue Reading →
Petrobras and Diamond signed a charter contract for the semi-submersible Ocean Courage. Equipped with MPD, the rig will operate exclusively in production sharing partnership projects, running campaigns in the Dois Irmãos, Entorno de Sapinhoá and Três Marias areas, located in the Campos and Santos basins. Source: PetroleoHoje
UK-based TechnipFMC has reported third-quarter 2020 loss of $3.9 million or 1 cent per diluted share against $119 million loss same time last year. Adjusted diluted earnings per share, excluding charges and credits, was 16 cents, with analysts projecting some 22 cents. Revenues for the quarter were flat at $3.34 billion. TechnipFMC has secured quarterly... Continue Reading →
Brazil Energy Insight 