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Marine seismic company Polarcus is set to reduce workforce and employees' salaries, and stack survey vessels, as a response to the uncertainty marine seismic industry is facing in the wake of the coronavirus pandemic, and the current low oil prices. Polarcus on Tuesday evening announced cost-cutting measures, which the company expects to save it $15... Continue Reading →
Due to the general uncertainty in the world and for the industry caused by the coronavirus and the collapse in commodity prices, UK subsea engineering company Subsea 7 is withdrawing its guidance and outlook statements issued in February 2020. Subsea 7 said on Wednesday that, while the current year’s results are underpinned by a backlog... Continue Reading →
Norwegian oilfield services company Aker Solutions has revealed a package of measures with an aim to mitigate the effects of the coronavirus and sharp oil price decline, including layoffs, reductions in cost and investment levels, and salary freeze for executives as well as general population. Aker Solutions said on Wednesday it is implementing a number... Continue Reading →
All electric systems are starting to free companies from the traditional strict form factors that ROVs traditionally take. With a more flexible modular harness, vehicles can be built from standardised building blocks. Saab Seaeye, a firm well versed in all-electric vehicles, has been making noises in this direction, using the smarts it’s been developing for... Continue Reading →
Houston-based oilfield services provider Helix Energy Solutions has withdrawn its previous financial and operational guidance for this year due to the current situation in the market. Expecting the spot market for 2020 to be significantly weaker than previously predicted, Helix plans to slash its capex by 20 percent. In an update on Monday, Helix Energy... Continue Reading →
Mar 30/2020 Shell found new evidence of oil in well 3-SHEL-32D-RJS, in the south of Gato do Mato, in the Santos Basin pre-salt. This is the second occurrence in the block, where the oil company is conducting a campaign with the Brava Star rig, in a water depth of 2,048 thousand m. The drilling of... Continue Reading →
March 30, 2020 Investment cut leads large companies, such as Schlumberger and TechnipFMC, to reduce expenses and postpone projects The fall in the price of oil in recent weeks has led to a wave of investment cuts by global oil companies and, little by little, this movement begins to affect the chain of suppliers of... Continue Reading →
FPSO leasing company BW Offshore has informed that a charter for FPSO Cidade de Sao Mateus has expired. The FPSO was involved in an explosion in February 2015, an incident in which nine workers were killed, and 26 others injured. Continue reading
U.S. offshore engineering and construction company McDermott has been awarded a sizeable contract by BHP to provide pre-front-end engineering design (pre-FEED) services for a floating production unit (FPU) that will be installed at the Trion field offshore Mexico. The FPU will be installed in a water depth of approximately 8,200 feet (2,500 meters) at the... Continue Reading →
Malaysian FPSO provider Yinson has signed contracts with Petrobras for the delivery, operation, and maintenance of the Marlim 2 FPSO. Yinson won two letters of intent from Petrobras in October 2019 for the charter and operation of the Marlim 2 FPSO for the Marlim revitalization project in Brazil. The company said at the time that the estimated... Continue Reading →
Brazil Energy Insight 