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Seabed Geosolutions is feeling the impact of the COVID-19 pandemic on its activity. A significant ongoing project in the Middle East has been cancelled and another project that was scheduled to start imminently in Brazil has been postponed. Continue reading
Oilfield services provider Schlumberger took an $8.5 billion charge in the first quarter of the year rocked by the low oil price environment and the coronavirus pandemic. Schlumberger said in its report on Friday that its worldwide revenue in 1Q 2020 was $7.5 billion, a 9 per cent decrease sequentially and 5 per cent decrease... Continue Reading →
Apr 16, 2020 The National Petroleum Agency (ANP) indicates that the number of cases of Covid-19 in workers in the oil and gas sector in Brazil has risen to 162. As of yesterday, there were 132. Currently, there are still another 1,020 cases being investigated, awaiting test results. Fortunately, so far, there have been no... Continue Reading →
Emerson (NYSE: EMR) announced it has signed a multi-year agreement with YPF S.A., a major Argentinian energy company, for Emerson’s exploration and production (E&P) software for seismic data interpretation and visualization. This comprehensive software portfolio gives YPF a holistic subsurface view of its reservoirs and exploration areas, leading to a collaborative and integrated seismic interpretation... Continue Reading →
The following article is a guest post by Andreas Dracoulis, Partner, and Jonathan Morton, Associate, at Haynes and Boone, a U.S.-based law firm specializing in business litigation The article delves into legal intricacies of declaring force majeure events on existing offshore construction contracts in case of delays caused by the coronavirus pandemic as well as key points... Continue Reading →
Apr 15, 2020 In March 2020, Wilson Sons recorded eight years without lost time accidents at its offshore support bases, a milestone in the oil and gas sector. There were 4.6 million man-hours worked in dozens of operations along the Brazilian coast. The new record reinforces the Company's commitment to the well-being of its employees,... Continue Reading →
Italian oilfield contractor Saipem has decided to withdraw its 2020 guidance, reserving the right to issue a new one should the market conditions improve. After a meeting of the Saipem board of directors, chaired by Francesco Caio, the company on Wednesday opted to withdraw its previously announced guidance for the year. Continue reading
Offshore vessel provider Telford Offshore's offshore accommodation and hook-up unit Telford 28 was attacked earlier this week while anchored in Mexico. One crew member was injured. In an email sent to Offshore Engineer, Telford Offshore said: "We can confirm that the Telford 28 came under attack while anchored at Cuidad Del Carmen, Mexico on the... Continue Reading →
Yinson has completed an $800 million refinancing exercise for FPSO John Agyekum Kufuor, with the loan drawn down on April 14. The FPSO firm had announced the refinancing deal for the FPSO located in Ghana back in November 2019. The company at the time said it had signed an agreement with 13 local and international... Continue Reading →
Weatherford International saved an operator 27.5 hours of deepwater rig time with an Integrated Completion Solution it developed to install downhole equipment in the Santos Basin, offshore Brazil. “A deepwater challenge is the ultimate equation of time equals money and Weatherford saved this operator more than 27 hours of rig time,” said Brent Baumann, President,... Continue Reading →
