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Norwegian oil and gas company Equinor has installed the Peregrino C platform on the Peregrino field located offshore Brazil ahead of productio startup planned for later this year. Equinor, the operator of the Peregrino field, on Friday launched a video with highlights from the installation of the platform’s two largest modules – the main support... Continue Reading →
Oilfield services provider Schlumberger recorded a 38% drop in its fourth quarter 2019 profit and an increase in revenues when compared to the same period in 2018. According to Schlumberger’s 4Q 2019 report on Friday, the company’s fourth-quarter revenue of $8.23 billion decreased 4% sequentially, but increased 1% year-on-year when the company’s revenues were $8.18... Continue Reading →
Schlumberger, Halliburton Co, and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three largest names in oilfield services seek to reshape their businesses and adjust to falling demand. Oilfield service providers are facing reduced spending by oil and gas producers as investors push for higher shareholder... Continue Reading →
Italian oil and gas company Eni has started oil production from its operated Agogo field, located offshore Angola, only nine months after its discovery. Eni announced “a major oil discovery” in Block 15/06, in the Agogo exploration prospect, in Angola’s deep water in March 2019. Eni operates two FPSOs in Block 15/06, the N’Goma in West... Continue Reading →
Oilfield services provider TechnipFMC has reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in the first half of 2020. The board of directors of TechnipFMC unanimously approved the company’s plan to separate into two independent, publicly-traded companies in August 2019. TechnipFMC anticipates completing the transaction... Continue Reading →
Oilfield services provider John Wood Group Plc expects higher core earnings in 2019, with strong performance in its engineering services unit in the Middle East, Asia and the Caspian region offseting slowing U.S. onshore drilling demand. The Aberdeen-headquartered company said on Thursday adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is expected to be... Continue Reading →
Tokyo, January 16, 2020 MODEC, Inc. (“MODEC”) is pleased to announce that MODEC has signed the United Nations Global Compact (“UNGC”) advocated by the United Nations consisting of ten principles on human rights, labour, environment and anti-corruption, and joined the Global Compact Network Japan, a local network in Japan. Continue reading
Jan 14, 2020 WEG has been added to the list of approved suppliers at oil giant BP. The company is technically qualified according to BP Upstream (TQSL) to supply next generation low voltage motors. The addition to BP's list of approved suppliers is a reflection of WEG's reputation for innovation, reliability and quality in markets... Continue Reading →
Sapura Navigation begins work with Perenco in the field of Pargo Jan 15, 2020 Press Release The PLSV Sapura Diamante, support vessel, installation and launch of flexible pipelines, began work with Perenco for subsea installation and support in the Pargo field at 00h30 last Friday. Once again, 100% of the Sapura fleet is in operation,... Continue Reading →
Tokyo, January 15, 2020 MODEC, Inc. ("MODEC") is pleased to announce that one of its Floating Production Storage and Offloading (FPSO) vessels has been selected by World Economic Forum, a Swiss-based non-profit foundation, to join the Global Lighthouse Network of leaders in applying the technologies of the Fourth Industrial Revolution. The FPSO Cidade de Campos dos... Continue Reading →
Brazil Energy Insight 