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May 4, 2020 Petrobras suspended the result of the bidding process for the acquisition of goods and services to adapt the submarine gas network at Parque das Baleias. Petrobras' bidding committee reviews classification of Brazilian company Prática Engenharia in first place, with the price of R $ 268.492 million, the oil company published a statement... Continue Reading →
Offshore engineering services company Oceaneering has said its board has approved voluntary base salary reductions of the executive management team and other members of senior management, effective as of May 1, 2020. Oceaneering explained the move was consistent with its commitment to cost reductions during the ongoing public health and energy market crises. Continue reading
Flow assurance can keep offshore wells productive, and it requires successfully preventing or mitigating problems in the reservoir, the subsea flowlines and the topsides equipment. To prevent flow assurance problems, it’s necessary to identify potential issues, then determine how best to resolve those issues. But preventing a problem in one area can have knock-on effects... Continue Reading →
Subsea 7 has seen red in Q1 2020 on activity drop in the SURF and Conventional business units as well as COVID-19 pandemic. The Oslo-listed firm posted quarterly loss of $38 million, or $13 cents per diluted share, on revenue of $751 million. Continue reading
Offshore drilling company Transocean reported a net loss for the first quarter of $392 million, or $0.34 per diluted share. The company expects delays with new contracts due to COVID-19 but says it expects to continue to deliver offshore drilling "industry’s best margins." Continue reading
Apr 30, 2020 This week the company delivered the Environmental Impact Report (Rima) for the campaign for blocks BM-C-753, BM-C-789 (concession, in Campos), BM-S-536, BM-S-647 (concession, in Santos) and Titã (sharing, in Santos). - Indicative schedule foresees the drilling of two firm Titã wells and in BM-C-789, between July and January 2021, followed by contingent... Continue Reading →
Malaysia's largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand. "Delays are inevitable," Chief Executive Shahril Shamsuddin said in an earnings conference call, adding that it could take 18-24 months for the... Continue Reading →
Aker Solutions expects its revenue to fall by 30% this year, driven down by the impact from the COVID-19 pandemic and the crash in oil prices, and plans to respond with further cost-cutting, the Norwegian oil services company said. "The depth and scale of the decline is still unclear, but the second quarter is likely... Continue Reading →
French energy major Total has joined a project to explore the potential of powering offshore oil and gas platforms with floating wind and wave energy. The O/G Decarb innovation project will examine the possibility of using a combined wind and wave technology on a floating foundation to store energy that can convert electricity into hydrogen... Continue Reading →
Offshore drilling contractor Valaris booked $3 billion loss in the first quarter of the year affected by impairments and fleet utilization decline. Valaris on Wednesday posted a net loss of $3.01 billion for the first quarter of 2020 compared to a net loss of $216 million in the fourth quarter of 2019. Continue reading
Brazil Energy Insight 