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OCT 8, 2019 Facing a difficult moment, Enseada Shipyard, in Bahia, has just filed its request for judicial recovery, covering R$ 2.3 billion in competition claims *. The decision was taken to implement a definitive financial restructuring of the company, which has been facing severe financial problems in recent years. Despite the request for recovery,... Continue Reading →
Danish vessel provider Maersk Supply Service will provide an integrated mooring lines life extension solution for Shell’s FPSO Fluminense, including project management, engineering, interface management, and offshore execution off the coast of Rio de Janeiro. Maersk Supply said on Wednesday that the offshore phase is expected to start in December. The project includes heading control... Continue Reading →
Struggling French offshore vessel owner Bourbon has received an offer for the takeover of its assets and activities. As part of the reorganization proceedings opened since August 7, 2019, by the Marseilles Commercial Court to the benefit of Bourbon Corporation and its affiliate Bourbon Maritime, Court Administrators have received a takeover offer, Bourbon said in... Continue Reading →
Dutch FPSO operator SBM Offshore has confirmed a formal closure of its Brazil legacy case related to legacy bribery issues in Brazil. According to SBM Offshore’s statement on Wednesday, the company has received notification that the Federal Court has formally closed the Improbity Lawsuit filed by the Brazilian Federal Prosecutors Office (Ministério Público Federal, MPF)... Continue Reading →
As the oil and gas industry increasingly automates functions, one service company has focused on changing the focus from dumb iron to the cloud. Weatherford’s vision is to take its range of production tools and technologies to the next level by bringing them together with the basics of Industry 4.0, which relies on automation and... Continue Reading →
(Reuters) - Brazilian state bank Caixa Economica Federal has filed a legal motion requesting the liquidation of engineering conglomerate Odebrecht SA, according to court documents seen by Reuters, in what could be a dramatic end to the graft-plagued company. Caixa also demanded that creditors appoint new management at the conglomerate and its subsidiaries if the... Continue Reading →
Norway’s TGS (TGS.OL), a supplier of seismic data to the global oil industry, reported record third-quarter revenues on Tuesday, beating both its own and analysts’ forecasts, the company said. So-called net segment revenues hit $277 million for the July-September period, while the company had predicted it would be in excess of $250 million. Continue reading
Norwegian subsea service business DOF Subsea has found itself in a challenging financial position as a result of the continued challenging market situation with low vessel utilization and depressed dayrates. In its financial report for the second quarter 2019 published in late August, DOF Subsea said that its current earnings were not sufficient to support... Continue Reading →
Danish offshore vessel owner Maersk Supply Service has secured a 1.5-year contract with Blue Marine Group to support Pemex from subsea support vessel Maersk Installer. Joining Maersk Implementer, the vessels will assist the national oil company in achieving its targets of increasing production, the vessel owner said on Monday. Maersk Installer arrived in Mexico on... Continue Reading →
Brazilian drilling contractor Sete Brasil has reached agreements with Singapore’s rig builders Keppel Offshore & Marine and Sembcorp Marine related to contracts for the construction of six semi-submersible rigs and seven drillships, respectively. Sete Brasil was formed in 2011 to own and operate drilling rigs to be used by Petrobras for drilling offshore Brazil. The... Continue Reading →
Brazil Energy Insight 