Norway's TGS, a supplier of seismic data to the global oil industry, reported lower-than-expected fourth-quarter revenue on Thursday. So-called net segment revenue hit $230 million for the October-December period, while analysts on average had expected revenue of $257 million, according to forecasts published by Refinitiv. TGS did not provide a year-ago comparison for the fourth... Continue Reading →
SOTREQ WILL INSTALL SEVEN GENERATORS MANUFACTURED IN GERMANY TO FEED AZULÃO FIELD IN AMAZONAS BASIN
JAN 8 , 2020 SOTREQ Caterpillar dealer will supply a package consisting of seven 3.45 MW gas generators to Eneva, which is responsible for gas exploration in the Azulão field. It is a project that will be integrated with TPP Jaguatirica II, in Roraima. After liquefied and stored in the Azulão, the gas will be... Continue Reading →
Ibama issued more seismic and drilling licenses in 2019
January 9, 2019 Number of authorizations for seismic and drilling campaigns increased over previous year Ibama authorized, last Wednesday (8/1), SpectrumGeo to carry out a 2D seismic campaign in the Pará-Maranhão Basin. In the licensing process, it is stated that the BGP Pioneer vessel, from Chinese BGP, will conduct the work. The issuance of environmental... Continue Reading →
Shearwater Takes Over CGG Seismic Vessels
Norwegian seismic vessel giant Shearwater has completed the strategic vessel transaction with the French seismic company CGG following an agreement signed in June 2019. The transaction includes the takeover of five high-end seismic vessels, and the five-year capacity agreement for marine seismic acquisition services between Shearwater and CGG became effective. Continue reading
Oil, New Investors Keeping FPSO Market Buoyant
Rising oil prices are bolstering the numbers of floating production systems on-order or in the planning stage, with fresh orders from Northern Europe and Brazil merely adding to a buoyant market, a new report says. In the doldrums just a few years ago, the market for floating production and storage units (FPSO); floating liquefied natural... Continue Reading →
Premier Oil, Rockhopper in Sea Lion Farmout Push
Premier Oil and Rockhopper, two oil companies working to develop the Sea Lion oil field offshore the Falkland Islands, have welcomed Navitas as their potential new partner in the project. The companies have signed non-binding heads of terms with Navitas Petroleum, which should lead to Navitas obtaining a 30% interest in the Sea Lion offshore... Continue Reading →
Premier Oil hires Valaris drillship for well off Brazil
Oil and gas company Premier Oil has hired a Valaris-owned drillship for operations on Block 717 located offshore Brazil. In an update on Tuesday, Premier said it had contracted the Valaris DS-9 drillship to drill the Berimbau/Maraca stacked prospects on Premier’s operated Block 717 in the Ceara Basin in Brazil. The well is scheduled to... Continue Reading →
Worldwide offshore rig count in December up 22 rigs year-over-year
The worldwide offshore rig count in December 2019 increased by 11 units sequentially and 22 units year-over-year, according to a Wednesday rig count report by Baker Hughes Company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The international rig count for December 2019 was 1,104, up... Continue Reading →
Independent evaluation of Zama resources exceeds Talos Energy’s previous range
Results from an independent, third-party contingent resource evaluation of the Talos Energy-operated Zama discovery off Mexico exceed the company’s previously guided resource range. Houston-based Talos on Tuesday announced the finalization of the third-party contingent resource evaluation of the company’s globally recognized Zama discovery commissioned from Netherland, Sewell & Associates, Inc. (NSAI). Talos is the operator... Continue Reading →
Polarcus Vessel Activity Drops in Q4 2019
Polarcus, a Dubai-based seismic contractor, has recorded a decrease in its vessel utilization during the fourth quarter of 2019. The vessel activity also decreased on a full year basis from 87 percent in 2018 to 79 percent in 2019. Continue reading
Brazil Energy Insight 