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(OM) FPSOs have revolutionized deepwater E&P, enabling oil companies to produce oil in areas that were not previously economically viable. Following a challenging 2020, the FPSO market rebounded dramatically last year, with more contracts awarded in the second quarter of 2021 alone than during the entire 2020. Some estimates suggest the market could reach a... Continue Reading →
(OM) Demand for floating rigs is soaring in the new year, with floaters making up 86% of the awards in February thus far, according to Evercore ISI’s latest Offshore Rig Market Snapshot. While no contract awarded was for more than four months, the firm commented that “day rates are clearly trending higher with Transocean... Continue Reading →
Energy technology company Baker Hughes announced it has opened a new "supercenter" facility for oilfield services and equipment in Guyana. The facility, which spans more than 8 acres, will support regional customers and bolster Baker Hughes’ localization efforts within South America. Referencing its work in Guyana, Baker Hughes said it currently provides drilling services, drill... Continue Reading →
(OM) TGS says it can now provide access to derivative standardized well data from ~6,500 wells in Brazil’s offshore basins. TGS-enhanced data such as standardized digital logs (LAS, LAS+, Mud LAS, Lith LAS), validated well headers, quality-controlled directional surveys and other available derivatives will be licensed and delivered to customers through its cloud-based R360 Platform. This data... Continue Reading →
(OE) French energy industry giant TotalEnergies has partnered with the Norwegian company Semar in the development of the innovative Honeymooring solution, which, according to TotalEnergies, will contribute to lowering the floating wind costs and reducing seabed footprint. TotalEnergies said that floating offshore wind turbines have removed the depth constraints but raised the challenge of cost-effective,... Continue Reading →
(PN) The board of the National Petroleum Agency (ANP) approved the postponement for five years of the declaration of commerciality of the Jupiter discovery, in block BM-S-24, in the Santos Basin. This is the second time the deadline is extended – the first time was in 2016. The new deadline will be November 2026. The... Continue Reading →
Brazilian shipping company Grupo CBO has added a new platform supply vessel (PSV) to its fleet and signed its second contract for one of its anchor handling tug supply (AHTS) vessels with the Brazilian subsidiary of Australia’s Karoon Energy. Brazil’s offshore vessel operator CBO informed on Thursday that it has completed the acquisition of the PSV CBO... Continue Reading →
SBM Offshore has issued a progress report on various FPSO construction programs in its latest results statement. The third stage flash gas compressor on the Liza Destiny, which operates on the Liza field offshore Guyana, remains stable and continues to operate. Engineering is in progress on a re-designed flash gas compressor, which should be installed around mid-year.... Continue Reading →
Petrobras posted an excellent operational performance in 2021, reaching all production targets for the year with the achievement of the following marks: The highlights for 2021 were: FPSO Carioca production start-up, on August 23, the first platform in Sépia field, in Santos Basin pre-salt. Throughout the year, 3 new producing wells were connected and currently... Continue Reading →
(Reuters) - Norwegian oil services firm Aker Solutions (AKSOA.OL) raised its 2022 revenue outlook on Tuesday and said its earnings margin is likely to increase this year while order intake is headed for a record high, sending its shares sharply higher. The company now expects revenue to rise by more than 20% to at least 35 billion... Continue Reading →
Brazil Energy Insight 