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Classification society Bureau Veritas (BV), a provider of testing, inspection, and certification services, has noted a 900 per cent rise in demand for the remote inspection of offshore assets and equipment since the outbreak of the COVID-19 pandemic. BV said on Monday that requests for its remote inspection, certification, examination, and verification services escalated from... Continue Reading →
May 11, 2020 The domino effect triggered by the coronavirus pandemic is affecting the players in the oil and gas sector, piece by piece. This time, who suffered the fall - and severe, by the way - was the multidisciplinary platform maintenance segment. Petrobras decided to demobilize the maintenance activities of these units and suspend... Continue Reading →
Solstad Offshore has signed a pair of construction support vessels (CSV) to new contracts, reporting deals for CSVs Far Saga and Normand Energy. The Brazilian flagged CSV Far Saga secured a three-year contract from Petrobras. Continue reading
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 →
