Brought to you by Quest Offshore & Southern Cone Consultants
Ithaca Acquisition Holdings reported Tuesday that it has completed its acquisition of the former pipe fabrication assets of The Shaw Group from McDermott International, Inc. “We saw this as a great opportunity to partner with an experienced investor group to acquire the former Shaw Group pipe fabrication portfolio and bring these assets back to the... Continue Reading →
Oilfield services company Wood has pledged to reduce its greenhouse gas emissions by 40 per cent by 2030. Wood said on Friday that this science-based target was focused on reducing its scope 1 and 2 greenhouse gas emissions. This absolute reduction target is set using 2019 figures as a baseline which currently stands at 179,587... Continue Reading →
A Brazil-based wholly-owned subsidiary of Singapore’s offshore rig builder Sembcorp Marine (SembMarine) has entered into a revolving facility agreement for up to $500 million with Standard Chartered Bank. SembMarine said on Friday that the subsidiary in question was Estaleiro Jurong Aracruz (EJA). According to the company, the facility agreement will be guaranteed by SembMarine. Continue... Continue Reading →
A court in Brazil has accepted a money laundering and corruption complaint against a former Sembcorp Marine employee as part of the widespread Brazilian Car Wash probe. As previously reported, the Federal Public Ministry (MPF) in Brazil in February 2020 filed charges against Guilherme Esteves de Jesus (GDJ) for money laundering and Sembcorp Marine’s ex-employee Martin Cheah Kok Choon for... Continue Reading →
Jun 3, 2020 Total is testing a new oil transfer system (offloading) using a CTV type vessel (Cargo Transfer Vessel) in the Lapa field, in the Santos Basin pre-salt. The goal is to analyze the integration and functionality of the CTV, the Sealoader-1, in oil transfer operations. Oil company may extend contract for specialized vessel... Continue Reading →
Brazilian geoscience services company OceanPact has chosen Sonardyne deep water positioning technology to support its research operations across the region. The company has installed Ranger 2 Ultra-Short Baseline (USBL) systems on board its research vessels Seward Johnson and Austral Abrolhos. Continue reading
Offshore accommodation rig provider Prosafe has been given some breathing room by its creditors. The company earlier this month said it had agreed on an extension to the forbearance from the non-payments and defaults with a majority of its lenders across its $1.3 billion, and $288 million facilities until May 31, 2020. Continue reading
Seadrill announced a writedown of $1.2 billion on the value of its oil drilling rigs on Tuesday and warned it may have to convert part of its $7.4 billion in debt into equity to survive. "Until such time that an agreement is reached to restructure our borrowing commitments, substantial doubt remains over (the) ability to... Continue Reading →
May 29, 2020 The Oil Group and the Energy Platform-EnP (Marcio Felix) signed, on Friday (29/5), a memorandum of understanding for the construction of a mini-refinery and a lubricant factory, in Espírito Santo. Named RefinES and LubCap, the units will be installed in locations to be defined, after 2022. RefinES will have an initial capacity... Continue Reading →
May 29, 2020 The oil and gas market is having to deal with a new reality: cost reduction. With this in mind, Dutch SBM Offshore changed the way of contracting FPSO hulls from bilateral agreements to competitive bids. In the market, the comment is that the decision is a strategy to reduce spending on the... Continue Reading →
Brazil Energy Insight 