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Norwegian offshore EPC contractor Aragon has won a contract to deliver topside modules for Malaysia-based Yinson's Anna Nery FPSO that will produce oil from Petrobras' Marlim field in Brazil. The Bergen-based company, part of Singapore's SembMarine, said that the contract covers the engineering, procurement, and construction of 7 modules for the gas treatment, gas compression,... Continue Reading →
The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11.10 per barrel, a Rystad Energy impact analysis reveals. We also estimate... Continue Reading →
May 8, 2020 Oil company plans to drill up to three wells in the Patola discovery area, in the shallow waters of the Santos Basin Karoon submitted a project to Ibama to drill two production wells and a contingent in the area of the discovery of Patola, in the south of the Santos Basin. The... Continue Reading →
Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO. Continue reading
The Covid-19 pandemic could see demand for umbilicals fall by 32 per cent this year, Rystad Energy impact analysis reveals. According to Rystad, expected demand could fall to just 713 kilometres of lines in 2020, from 1,041 kilometres last year. Continue reading
May 7, 2020 Petrobras should start in June a new exploratory campaign in the Campos Basin, in the CM-657 block, acquired in the 15th ANP Concession Round, in 2018. Although the company is postponing some works and cutting investments due to the Covid-19 crisis and the price of oil, the oil company is prepared to... Continue Reading →
Offshore drilling contractor Noble Corporation saw its quarterly net loss deepen after being negatively affected by rig impairment charges amid lower demand as a result of the coronavirus pandemic and low oil prices. Noble on Wednesday reported a net loss attributable to the company for the three months ended 31 March 2020, of $1.1 billion... Continue Reading →
May 6, 2020 Petrobras President Roberto Castello Branco said on Tuesday that he expects the global economic recovery to proceed slowly after the new coronavirus pandemic. Given this, he does not believe that oil prices will return to the level of $ 60 or $ 70 a barrel. "The adjustment mechanism [of the industry to... Continue Reading →
Oceaneering International announced that its Remotely Operated Survey group has successfully completed an integrated rig services campaign for a major operator offshore South America, recording a milestone 150,000 hours of ROS operations and no client operations or vessel downtime. Oceaneering was contracted by Apache Corp. in June 2019 to provide Integrated Rig Services on the... Continue Reading →
May 4, 2020 ABESPetro and IBP are committed to seeking joint solutions to overcome the unprecedented crisis in the oil and gas industry. If, on the one hand, the focus on adopting measures to preserve the health of employees is a consensus between the two main entities in the sector, on the other, disagreements on... Continue Reading →
Brazil Energy Insight 