Brought to you by Quest Offshore & Southern Cone Consultants
BP Plc (BP.L) wants to be part of an effort to build up natural gas infrastructure in Brazil, an executive said on Tuesday, and believes a power plant it is building in Rio de Janeiro could eventually be supplied by gas from offshore oilfields here. Speaking at Rio’s Offshore Technology Conference on Tuesday, BP Regional... Continue Reading →
The offshore decommissioning market is estimated to be valued at USD 6.2 billion in 2019 and is projected to reach USD 8.9 billion by 2027, at a CAGR of 4.8% during the forecast period. The global offshore decommissioning market is dominated by leading players that have an extensive regional presence, said ResearchAndMarkets. The leading players... Continue Reading →
Affected by impairments for three retired rigs, offshore drilling contractor Transocean more than doubled its losses in the third quarter of the year when compared to the last year’s 3Q. According to Transocean’s quarterly report published on Monday, the company’s total contract drilling revenues were $784 million in 3Q 2019, compared to $816 million in... Continue Reading →
Oct. 28, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced substantial completion of PEMEX Exploracion y Produccion's Abkatun-A2 Platform. The production platform is located in Mexico's Bay of Campeche in the Gulf of Mexico. This milestone means the platform has now been turned over to the owner to begin commercial operations. "With substantial completion of the Abkatun-A2 Platform project... Continue Reading →
Offshore drilling contractor Diamond Offshore nearly doubled its losses as its revenues dropped in the third quarter of 2019 when compared to the same period in 2018. Diamond has also secured a new contract for one of its semi-submersible rigs with Woodside. Diamond on Monday posted revenues of $254 million for the third quarter of... Continue Reading →
Finland’s Wartsila (WRT1V.HE) warned on Friday of a tough outlook for 2020 due to weaker demand for its ship technology and power plants and took a surprise multi-million euros charge on project cost overruns. Shares in the engineering group plummeted to their lowest level in seven years. “We are going to have, for the next... Continue Reading →
Offshore drilling contractor Valaris, formerly known as EnscoRowan, has been awarded new contracts and extensions with BP, Murphy Oil, Premier Oil, SapuraOMV, and Saudi Aramco. In its fleet status report published on Friday, Valaris said that the 2014-built drillship Valaris DS-15 (Renaissance) had been awarded a one-well contract with Murphy in the U.S. Gulf of Mexico with... Continue Reading →
The Norwegian competition authorities have rejected the proposed merger between offshore accommodation companies Prosafe and Flotel. The proposed combination would create the world’s largest owner of semi-submersible accommodation rigs with Prosafe currently owning and operating a total of nine offshore accommodation units, and has options for delivery of two newbuilds, while Floatel’s fleet counts five... Continue Reading →
Oct 25, 2019 Baixada Santista has the potential to become a new center of goods and services for the oil and gas sector, along the lines of Macaé (RJ), says São Paulo State Finance and Planning Secretary Henrique Meirelles. “There is no doubt that the Santos Basin's share of pre-salt production is growing. Along with... Continue Reading →
Oct 25, 2019 The first Mero 2 oil in the Santos Basin pre-salt was delayed by one year. Petrobras' business plan was scheduled for FPSO Sepetiba to start operating in 2022, but the company's financial report released on Thursday (10/24) projects its start of production in 2023. The construction and operation of the unit, which... Continue Reading →
Brazil Energy Insight 