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Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/20/2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the Dutch special purpose companies controlled by... Continue Reading →
Ten years ago, a future where subsea fields and their power-hungry process equipment could be fully electrified, enabling long step-outs to tap remote reserves with lean new infrastructure architectures, lit the fuse for a spate of investment in subsea power distribution.The result, following at least two major joint industry projects (JIP) and tens of millions... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, as of today, the amount of R$ 232.6 million, as a result of a leniency agreement entered into between the Federal Prosecutor's Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the company as... Continue Reading →
In 2017, the Brazil National Petroleum Agency (ANP) issued a failure mode alert: stress corrosion cracking (SCC-CO2) triggered by the presence of CO2 in high-pressure pre-salt conditions had been identified as the cause of broken tensile armor wires on a certain flexible pipe installation. Relatively common in other applications where carbon steel is subject to... Continue Reading →
Offshore drilling contractor Pacific Drilling, which last month filed for Chapter 11 Bankruptcy, on Tuesday said that the United States Bankruptcy Court for the Southern District of Texas had confirmed its debt reorganization plan. The driller in November filed for Chapter 11 bankruptcy with the aim to eliminate $1.1 billion debt. Bernie G. Wolford, Pacific Drilling's... Continue Reading →
Japan’s FPSO specialist MODEC in December 2020 obtained approval by the American Bureau of Shipping (ABS) for the new offshore repair method for hull structures of floating oil and gas production facilities such as floating production storage and offloading (FPSO) vessels as an original standard repair method. Diagram of new offshore repair method; Source: MODEC... Continue Reading →
Oilfield services provider National Oilwell Varco said Monday it would change its corporate name to “NOV Inc.”, effective January 1, 2021. The company’s ticker symbol, “NOV”, will remain unchanged. Clay Williams, Chairman, President, and CEO said: "Our company has a long and proud legacy of innovation and technology dating back to the earliest days of... Continue Reading →
The oil company announced to its shareholders this morning that it will assume the entire stake in the Atlanta Field, in the BS-4 block of the Santos Basin. Looking to the future, the company is now preparing to start a bidding process to contract the definitive FPSO for the field - which today has an... Continue Reading →
Norway-based offshore vessel owner Solstad Offshore said Monday it has secured a contract extension for one of its vessels in Argentina. The contract extension is for the construction support vessel Normand Commander, with Bahia Grande LN S.A. Under the three-year extension, the vessel will now remain with Bahia Grande until October 2026. Solstad Offshore did... Continue Reading →
Rio de Janeiro, December 17, 2020 - Petróleo Brasileiro S.A. - Petrobras informs that, on this date, the payment of R$ 190 million was made to the Pension Fund of the Employees of the Bank of Brazil - Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain... Continue Reading →
