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Offshore seismic services provider Polarcus is reducing its headcount further by 20 percent, the company said Monday, citing the market uncertainty and bleak near-term outlook caused by low oil prices and COVID-19. Oslo-listed Polarcus had on March 31 announced cost-cutting measures which were planned to save it $15 million in 2020. These included reductions in headcount and employees' salaries and... Continue Reading →
The Covid-19-caused downturn is set to cause a 25 per cent yearly drop in global demand for oilfield services (OFS), a Rystad Energy analysis shows. Rystad said on Thursday that OFS spending was expected at $481 billion this year and take the first step towards recovery in 2021 when it is forecast to tick up... Continue Reading →
June 16, 2020 Petrobras has postponed until July the deadline for submitting the bidding proposals for chartering one or more drill rigs for Mero, a production sharing field located in the Santos Basin. The date was scheduled for 19 of June, but the oil company chose to postpone to 6 of July. Source: PetroleoHoje
Norwegian offshore vessel operator DOF has secured long-term charters for a trio of anchor handling units with Petrobras in Brazil. DOF said Tuesday Petrobras had awarded its Skandi Urca and Skandi Fluminense vessels 2+2 year contracts with the start in September 2020. Continue reading
Norwegian vessel owner Solstad Offshore has won a contract for two of its anchor handling tug supply (AHTS) vessels from Brazilian oil company Petrobras. Solstad said on Tuesday that it won three-year contracts for the Far Sagaris and Far Statesman. Continue reading
Norwegian seismic acquisition company PGS has said that its Ramform Titan has completed a seismic survey project in Brazil, breaking a streamer spread record in the process. The company said Tuesday that it had completed the survey on the first two parts of a new long-offset GeoStreamer-X seismic survey in Campos Basin. Continue reading
Offshore drilling contractor Valaris said Monday it had elected not to make the $13.3 million interest payment due on June 15, 2020, related to its 7.375% Senior Notes due 2025. The offshore drilling company, which had more than $6.5 billion of debt at the end of the first quarter, said that under the arrangement governing... Continue Reading →
BW’s floating storage and regasification unit has arrived at a new terminal in the Brazilian Port Acu to start its contract serving Gas Natural Acu’s LNG-to-power project. The FSRU BW Magna finally docked at the project’s regasification terminal on Friday. The vessel has been waiting offshore the port since January to get a green light to dock... Continue Reading →
JUN 11, 2020 With the approval by the Legislative Assembly of Rio de Janeiro of the bill that internalizes Repetro Industrialização in the state, Rio de Janeiro guarantees the maintenance of the ICMS rate at 3% for operations importing equipment (platforms, platform ships and other equipment) for the oil and gas industry, in operations carried... Continue Reading →
Offshore helicopter operators Bristow and Era have completed the merger and created a financially stronger, larger, and more diverse company. Bristow said on Thursday that the newly combined company, headquartered in Houston, would use the Bristow name and would remain a publicly-traded company on the New York Stock Exchange. Continue reading
Brazil Energy Insight 