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Suriname, struggling with political unrest and a debt crisis, pins hopes on its oil sector after TotalEnergies delayed the billion-dollar final investment decision for Block 58. Latest appraisal drilling confirms that Block 58 could contain as much as 6.5 billion barrels of exploitable oil resources, boosting prospects for an oil boom similar to neighboring Guyana.... Continue Reading →
(Reuters) APA Corp. said on Wednesday its most recent appraisal well in Block 58 off Suriname's coast confirmed the extension of oil resources 14 kilometers from the discovery well. APA's exploration in Suriname has been closely watched as it could become Suriname's first commercial deepwater project. Massive discoveries and fast-growing oil production in neighboring Guyana... Continue Reading →
(OM) Colombia’s new President Gustavo Petro has pledged to position his country as a leader of the energy transition. According to Wood Mackenzie, his plans for fiscal reform involve higher taxes for extractive industries, and hydrocarbons provide the primary source of Colombia’s revenue. At the same time, the country has to address the long-standing challenge... Continue Reading →
(Reuters) The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America. Baker Hughes, Halliburton, and SLB are set to post a combined second-quarter adjusted profit of $2.04 billion, according to Refinitiv data,... Continue Reading →
(Reuters) Suriname said on Thursday it signed a memorandum of understanding with Trinidad and Tobago that aims to increase energy cooperation, and people familiar with the matter said it could lead to natural gas from Suriname being piped to Trinidad and Tobago. Trinidad and Tobago has been searching for ways to expand its supplies of... Continue Reading →
Offshore drilling contractor Noble Corporation has won a new contract with Petronas Suriname E&P, a subsidiary of Malaysia’s energy giant Petronas, for one of the semi-submersible rigs in its fleet, which is being hired for drilling activities offshore Suriname. According to Noble, this one-well contract, which was awarded for the Noble Discoverer semi-submersible deepwater rig to drill an... Continue Reading →
Active floating drilling rig utilization has rebounded from a low of 65% in 2018 to over 85% in 2023, energy intelligence group Wood Mackenzie said Monday, adding that the growth in demand and rates could even spur construction of new offshore rigs. "According to Woodmac, the number of contracted ultra-deepwater (UDW) benign rigs has returned... Continue Reading →
(epbr) Despite Ibama's veto of the environmental license for drilling a Petrobras well in deep waters in the Foz do Amazonas Basin this week, activities in the region are not unprecedented. According to public data from the National Petroleum Agency (ANP), Foz has already had 95 drillings — all have occurred in shallow waters. Practically... Continue Reading →
French oil major TotalEnergies said Monday it had, with its partners, signed Production Sharing Contracts (PSC) on Blocks 6 & 8 with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname. Blocks 6 and 8 were awarded to TotalEnergies in the Suriname Shallow Offshore Bid Round 2020/2021. TotalEnergies will operate the two blocks with... Continue Reading →
Qatar’s state-owned energy giant QatarEnergy has entered into two production sharing contracts (PSCs) for two blocks offshore Suriname, following successful bids for these blocks. Back in June 2021, Chevron and a consortium between TotalEnergies and QatarEnergy submitted winning bids for blocks offered in the Suriname Shallow Offshore (SHO) Bid Round 2020/2021, which closed for bidding on 30 April.... Continue Reading →
