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(OE) Portuguese maritime engineering company Etermar has launched Etermar Energia, a new branch dedicated to renewable energy, with a strong focus on offshore wind. Energia Energia has been established with the aim to become a strategic partner for the development of offshore wind projects worldwide. The company is strategically positioned to meet the needs of... Continue Reading →
(Reuters) -Baker Hughes beat Wall Street estimates for third-quarter profit on Tuesday, helped by sustained demand for its drilling equipment and oilfield technology in international markets. The robust activity in several international markets have helped oilfield services companies offset some of the declines in North America. "We remain confident in achieving our full-year EBITDA guidance... Continue Reading →
(OE) Yinson Production has completed the sale of minority stake in floating, production, storage and offloading (FPSO) unit Anna Nery, working for Petrobras offshore Brazil, to “K” Line for $49 million. Yinson Production sold its 11.8% stake in Yinson Boronia Consortium, which indirectly fully owns FPSO Anna Nery, deployed at the Marlim field. The sale... Continue Reading →
Wendy Laursen, Contributing Writer (OE) The more production infrastructure we push to the seabed, the more data we need to pull back up. With it comes opportunity. Chevron’s landmark 6,500 tons of subsea gas compression infrastructure for Jansz-Io demonstrates the scale of what is being put on the seabed, but there’s a diversity of other infrastructure under... Continue Reading →
(Investing.com) On Monday, Ocean Wilsons Holdings Ltd. announced the sale of its majority stake in Wilson Sons S.A. to MSC Mediterranean Shipping Company's subsidiary, SAS Shipping Agencies Services Sàrl, for a total cash consideration of R$4.352 billion. This equates to R$17.50 per share and represents Ocean Wilsons' 56.47% interest in the Brazilian maritime logistics operator.... Continue Reading →
This October, MODEC celebrates 10 years since FPSO Cidade de Mangaratiba MV24 went into operation. The FPSO is anchored in the Lula Field, in the Iracema Sul area, with a water depth of 2,200 meters and is capable of processing 150 thousand barrels of oil per day and 8 million cubic feet of natural gas... Continue Reading →
(Reuters) - Oilfield services firm SLB's third-quarter profit rose 13% and beat analysts' estimates on Friday on steady demand for its equipment and technology in international market and from offshore projects in North America. However, the company warned of limited spending by international producers in a weak oil price environment. SLB, which gets 81% of its... Continue Reading →
(OE) Brazil’s Federal court has annulled a two-year ban imposed on Saipem’s two business units on from contracting with the Brazilian public administration. The decision to prohibit Saipem’s two businesses was taken due to alleged irregularities in the award of a contract related to gas pipelines, dating back to 2011. According to Saipem, the court... Continue Reading →
(PN) The FPSO market saw a 50% increase in investments — from US$6 billion to US$9 billion — related to the surface capital of new projects in 2023, a trend that is expected to continue in 2024. The data was presented this week by Rystad Energy. This growth is largely concentrated in South America, especially... Continue Reading →
(OE) American Bureau of Shipping (ABS) has secured a contract to provide and test a digital twin solution for real-time condition monitoring for a Petrobras floating production, storage and offloading (FPSO) unit. The ABS solution will provide a digital twin of the asset, and as part of the project, ABS has selected Akselos to deploy... Continue Reading →
Brazil Energy Insight 