U.S. engineering and construction services company McDermott has gained access to $350 million in financing under its super-priority senior secured credit facility, which sent its shares soaring on Monday. McDermott said on Monday it had been granted access to the second tranche (Tranche B) of the $1.7 billion super-priority senior secured credit facility announced on October 21,... Continue Reading →
Offshore Wind Finance Blows into Oil and Gas
The years-old trend that has seen offshore suppliers vie for work in wind by leveraging their offshore oil and gas credentials and development finance is being countered these days by wind players in search of oil and gas jobs, judging by some recent fleet owner moves. Dutch offshore fleet owner, Jan De Nul, was busy... Continue Reading →
DOF SUBSEA OPERATES NEW RSVs FOR PETROBRAS
Nov 29, 2019 DOF Subsea reported Thursday that it has begun operations of the Skandi Commander, Skandi Chieftain and Skandi Olympia support vessels for Petrobras in the third quarter of this year. The duration of the contracts is three years, with the option of extension for two more. The vessels are RSVs, equipped with two... Continue Reading →
Shell defends continuity of oil auctions in Brazil
Nov 29, 2019 The president of the Brazilian oil company, André Araújo, says that any interruption in the bidding agenda would affect the operators and suppliers of the oil and gas chain. Shell considers Brazil an attractive country for the oil and gas industry, but the government must seek actions to maintain its attractiveness in... Continue Reading →
PGS in Peru ‘MegaSurvey’
Nov 29, 2019 PGS has reached an agreement with Perupetro to create a new ‘MegaSurvey’ in Peru. This large-scale merged and matched dataset targeting the extensive coastline of Peru should provide an opportunity to evaluate prospectivity on a regional basis. The PGS Peru MegaSurvey comprises 21 000 sq. km of 3D seismic. This data will... Continue Reading →
Northern Drilling sees improvement in harsh environment market demand visibility
Each quarter more signs of market stability and industry improvements are visible with an expectation to see this trend continue, the company said. Modern harsh environment market utilization has remained greater than 95% for the full year, while there is little incremental supply entering the market, and vintage units rolling off contract are likely scrapping... Continue Reading →
Spike in Floater Orders, as Demands Ease
For a range of reasons not all related to costs, offshore operators have stated their preference for floating production with a recent slew of orders, a report by dedicated floating production watchers said this week. The world’s floating production supply chain — especially those offering front-end engineering and fabrication — can point at the end... Continue Reading →
Peterson, Itaoca Join Brazil Offshore Project
Itaoca Terminal Marítimo SA (Itaoca Offshore) and logistics provider Peterson Offshore Group have formed a partnership and consulting agreement for development of the Itaoca Offshore project. The Itaoca Offshore project will be a private terminal (TUP), located in Itapemirim, in the Espírito Santo (ES) state in southeast Brazil, designed to provide logistical support to the... Continue Reading →
Ex-Petrobras Trader ‘Phil Collins’ Says Vitol Bribed Him
A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show. Carlos Roberto Martins Barbosa said he collected payoffs between 2003 and 2005 to steer fuel oil contracts... Continue Reading →
Deep Casing Tools Teams Up With Paschoalin in South America
UK-based oil and gas technology development firm, Deep Casing Tools (DCT), has strengthened its footprint in the South American market with the appointment of a Brazil-based partner, Paschoalin Consultoria em Engenharia. The company will represent Deep Casing Tools within the region and act as a sales agent for its wide range of well lifecycle technologies,... Continue Reading →
Brazil Energy Insight 