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(Reuters) - Saipem (SPMI.MI) will launch a 2 billion euro ($2.2 billion) capital increase this year and sell assets to help fund a turnaround plan to bring the troubled Italian energy services group back into the black. The company stunned investors in January when it downgraded earnings by a billion euros due to a significant deterioration of... Continue Reading →
French offshore seismic surveyor CGG has secured a two-part Ocean Bottom Node (OBN) seismic imaging project by PXGEO over the Sapinhoá Shared Reservoir in the Santos Basin offshore Brazil. "The resulting data will bring improved geological insight to the asset operator, Petrobras, to assist with better management of oil recovery and production development," CGG said. Peter... Continue Reading →
Subsea 7 ended 2021 with excellent operational and financial performance. Revenue reached US$ 5 billion, representing growth of 45% compared to the previous year. The company's EBITDA reached US$ 521 million, an increase of 55% compared to 2020. Net income for the year was US$ 36 million. The global order backlog hit the $7.2 billion... Continue Reading →
(Offshore Energy) Oilfield services provider Baker Hughes has inked a deal to acquire Altus Intervention, a provider of well intervention services and down-hole oil & gas technology, to strengthen its technological capabilities while enabling its customers to maximise production from fields. Baker Hughes informed on Monday that it is acquiring Altus Intervention to bring critical capabilities... Continue Reading →
(OE) Offshore drilling contractor Stena Drilling said in a social media post it was preparing to introduce the newest addition to its drilling fleet, the Stena Evolution drillship. "The Stena Evolution will be a technologically advanced 7th Generation ultra-deepwater drillship, and demonstrates Stena Drilling’s continued commitment to driving innovation and performance in the ultra-deepwater sector,... Continue Reading →
(Reuters) Norway's Equinor said on Friday it expects renewable sources to account for about 10% of its energy output in 2030 despite a sharp increase in investment, while oil and gas will make up the remaining 90%. The majority of state-owned company plans to increase gross investments in renewables and low carbon solutions, such as... Continue Reading →
Petrobras started the licensing process for the Auri robot, Autonomous Underwater Riser Inspection, a technology patented and developed by Petrobras in partnership with PUC-Rio. Equipped with high resolution cameras and remotely operated, the AURI is able to identify, with high precision, maintenance needs in the flexible pipelines that transport oil from subsea facilities to production... Continue Reading →
Norway’s PaleBlue has launched the ROV Engineering Simulator tailored for subsea engineering, design reviews, and accessibility checks of subsea installations with the use of remotely operated vehicles (ROVs). The simulator provides real-time simulation and visualization tools that allow users to set up a subsea scene, import CAD equipment, and model various situations with ROVs. According... Continue Reading →
Stolthaven Santos and the Pecém Industrial and Port Complex, a joint venture formed by the government of Ceará and the Port of Rotterdam, in the Netherlands, announced the signing of a memorandum of understanding (MoU) for the study of a new storage terminal in Porto do Pecém, Brazil. The terminal will focus on providing storage... Continue Reading →
(Reuters) Portugal plans to hold its first auction for floating offshore farms this summer, which it hopes will be able to produce between 3 and 4 gigawatts (GW) of power in 2026, Environment and Energy Transition minister Joao Matos Fernandes told Reuters. As part of a global shift away from carbon-emitting fossil fuels, countries are... Continue Reading →
