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MAN Energy Solutions will supply five radial compressor and two screw compressor trains for the Bacalhau FPSO, under the contract with the Japanese FPSO specialist MODEC. The compressor trains will be installed aboard the FPSO that will be used to produce oil for Equinor at the Bacalhau field, about 185 kilometers off the Brazilian coast... Continue Reading →
In November 2007 Brazil’s national oil company, Petrobras, shocked the E&P world by announcing a 5-to-8-Bbbl discovery in a completely unknown geological play: carbonate reservoirs below a 2-km layer of salt, offshore Brazil, in a 2,000-m water depth. This announcement marked the beginning of a complete turnaround in the history of Brazil’s oil and gas... Continue Reading →
Marine seismic player Polarcus has slipped into the red in Q3 2020 as revenue fell some 76 per cent compared to prior year due to the global slow-down on the back of the COVID-19 pandemic. The Oslo-listed company reported third quarter 2020 loss of $13.5 million, versus profit of $13.7 million in Q3 2019. Polarcus... Continue Reading →
Norwegian oilfield services provider Aker Solutions boosted its profit in the third quarter of 2020 despite lower revenues as oil and gas operators reduced their activity levels amid lower oil prices and Covid-19 pandemic. Aker Solutions on Wednesday posted a net income of NOK 119 million ($13 million) for the third quarter of 2020, an... Continue Reading →
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 →
Brazil Energy Insight 