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Marine geophysical firm PGS and artificial intelligence (AI) software-as-a-service (SaaS) company Cognite are teaming up in an effort to make seismic survey vessels work better, faster and more efficiently. Venturing into a new area of the energy sector, Cognite has launched a digitalization project with Norway’s PGS, a leader in subsurface seismic imaging, to optimize... Continue Reading →
i-Tech 7, Subsea 7’s Life of Field business unit, and Shell have entered into a collaborative technology agreement to accelerate subsea digitalisation, initially for a period of five years from the fourth quarter of 2019. The agreement will help fast-track innovation and streamline the adoption of applied technologies in areas such as marine robotics, advanced... Continue Reading →
Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of priority exploration and production projects, the state-owned company's chief executive said. CEO Octavio Romero said on the sidelines of an energy event in Ciudad del Carmen, home to numerous Pemex installations in... Continue Reading →
Offshore drilling contractor Transocean has booked a loss for the last quarter of 2019 as its revenues increased. However, the company has reduced the loss sequentially and year-over-year helped by gain on termination of construction contract, tax items, and disposal of assets, but partially offset by impairments and restructuring costs. Transocean’s contract drilling revenues were... Continue Reading →
Australia’s Karoon Gas has failed to find oil in the Marina‐1 exploration well, located in Block Z‐38 Tumbes Basin offshore Peru. The well is being drilled using the Stena Forth drillship, which arrived to Peru in early Janaury. It was spud in late January. By February 17, the Marina well reached a depth of 1654m MD. Initial results from... Continue Reading →
Offshore drilling contractor Transocean has secured more work for its fleet of offshore drilling rigs and brought its total contract backlog to over $10 billion. Transocean said last Friday that, since its last fleet status report in October 2019, the company had added approximately $366 million in contract backlog, bringing its total backlog to $10.2... Continue Reading →
Italian oil and gas company Eni has made a new oil discovery on the Saasken Exploration Prospect in Block 10, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new discovery may contain between 200 and 300 million barrels of oil in place, Eni... Continue Reading →
Offshore vessels were designed and built to support the offshore oil and gas industry. Whether that’s platform supply vessels (PSVs) supplying offshore installations, anchor handlers (AHT/AHTS) moving mobile offshore drilling units (MODUs) and other offshore structures, or subsea support vessels working on a wide scope of work beneath the sea level. These vessels were purchased... Continue Reading →
Significant cost reductions have improved E&P cashflows and should drive increased offshore tendering activity in 2020 with pricing expected to remain competitive, according to market research provider Westwood Global Energy Group. Westwood said on Thursday that contractors would need to remain focussed on profitability and avoid being locked into low-margin purgatory. The company identified that... Continue Reading →
February 14, 2020 In partnership with BP and Equinor, company prepares first production sharing well in the basin In March, Petrobras plans to start drilling the first exploratory well in Dois Irmãos, in the Campos Basin pre-salt. The location of the well, in the area purchased in the 4th Round of Sharing, has already been... Continue Reading →
Brazil Energy Insight 