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Searcher has completed the reprocessing of an additional 8,008 kilometers of 2D seismic data offshore Argentina as part of the Argentina Super-Tie 2D Reprocessing Project. The expanded coverage over the Malvinas and Austral Basins adds to Searcher’s existing data in the area, comprising over 19,000 kilometers of high quality broadband reprocessed 2D seismic data. Continue... Continue Reading →
Oil and gas company Apache Corporation has made a ‘significant oil discovery’ at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft drillship with Apache as operator holding a 50% working interest and Total holding the other 50% working interest. Continue reading
Dutch offshore transportation and dredging giant Boskalis has halted crew changes and will slash spending this year due to the COVID-19 virus crisis, it said on Thursday. The company said that, while its workers work from home where possible, this is not an option for staff working on international projects and vessels. Continue reading
Oilfield services company TechnipFMC is taking a set of actions in response to the current market environment, including a 30% reduction in capex. These actions include a 30% reduction in 2020 capital expenditures to $300 million – a reduction of $150 million when compared to the company’s previous full-year guidance. Continue reading
UK oilfield services provider Wood has decided to implement salary, headcount, and capex reductions as a response to the volatile market conditions. Wood will also be withdrawing its final dividend recommendation. Wood said on Thursday it has taken significant steps to enable its workforce to work from home due to the coronavirus pandemic, resulting in... Continue Reading →
Offshore accommodation services provider Prosafe is still working with its lenders to come up with a financial solution to ensure the company’s long-term stability. Prosafe previously reported it had received consent for temporary payment deferrals and waivers of certain identified defaults under the company’s $1.3 billion and $288 million facilities. These deferrals and waivers have now... Continue Reading →
Oilfield services provider Schlumberger on Tuesday said it will implement widespread salary and job cuts as it grapples with a sharp decline in revenue from the oil price collapse. Oil prices have plunged by more than 60% since the start of the year, prompting scores of oil and gas producers to slash spending on drilling... Continue Reading →
April 1, 2020 Petrobras then concludes the contracting of 90% of the TOR surplus in Búzios, alongside that of the Chinese state-owned companies CNODC and CNOOC, with 5% each. In addition to 100% of Itapu. - Búzios is the largest field under development in the country, with four Petrobras own units in operation, Búzios 5... Continue Reading →
April 1, 2020 OneSubsea presented the lowest price in Petrobras' bid for the acquisition of a PLEM (Production Line End Manifold) and an UTA (Umbilical Termination Assembly) for the Marlim and Voador Revitalization Project (Modules 1 and 2). In the reverse auction conducted by Petronect, the company offered a value about 12% lower than the... Continue Reading →
Norway's offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan, which includes converting 10 billion crowns ($962.17 million) of debt into equity, the company said on Tuesday. The large majority of stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders plan to sign a binding... Continue Reading →
