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How teamwork between COSL Drilling and key suppliers Kongsberg and NOV has improved on previously record low emissions to deliver fuel and environmental savings of more than 25%. In 2020, after several years of developing energy-efficient drilling operations, a team at COSL Drilling Europe AS launched a major project to save energy on COSL rigs... Continue Reading →
Subsea engineering specialist Oceaneering has narrowed its loss in the fourth quarter of 2020, despite revenue drop of close to 25 per cent. The Houston-based company has reported a net loss of $25 million on revenue of $424 million for the fourth quarter 2020. Adjusted profit was $1.8 million, reflecting the impact of $9.8 million... Continue Reading →
Italian energy services group Saipem said it was unable to provide guidance for the year due to the ongoing health pandemic after it missed earnings expectations, sending its shares down around 9%. "2021 is certainly not a back to normal year," Chief Executive Stefano Cao said in a conference call on results. "We don't expect... Continue Reading →
Subsea 7 has recognised a major loss in 2020, mostly on impairment charges, but increased its backlog by 20 per cent and kept revenue down only five per cent compared to 2019. The engineering and construction specialist recognised 2020 net loss of $1.1 billion, against loss of $82 million in 2019. In the full year... Continue Reading →
UK-based TechnipFMC has reported fourth-quarter 2020 loss of $39 million or 9 cent per diluted share against $2.4 billion loss same time last year. Adjusted diluted earnings per share was 5 cents, with analysts projecting some 20 cents. Revenue for the quarter was down from Q4 2019 some eight per cent at $3.32 billion and... Continue Reading →
Brazilian oil and gas giant Petrobras has signed a letter of intent with SBM Offshore for the chartering and provision of services for the FPSO Almirante Tamandaré, to be installed in the Búzios field, located in the Santos Basin pre-salt area off Brazil. Petrobras said on Wednesday that the FPSO will be the sixth unit... Continue Reading →
MESSAGE FROM THE CEO Dear Shareholders,I am very happy to present the report on Petrobras financial performance in 2020, a superb performance in a very challenging environment. Amidst a severe global recession and the effects of a major global shock to the oil industry, we promised to engineer a J-shaped recovery. The goal was to... Continue Reading →
In the midst of the process of change in its high command, Petrobras launched this week a new tender that promises to move the market. The state-owned company published a public notice to contract up to five offshore drilling rigs. The opening of the envelopes with the bidders' proposals is scheduled for March 15th. The... Continue Reading →
Italian oilfield services company Saipem has developed a new tool for the estimation of the carbon footprint of its offshore projects. Saipem said on Wednesday it has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation tool in its offshore projects. The tool is named SOCE (Saipem... Continue Reading →
Italy's Saipem and renewable energy companies AGNES and Qint’x have applied for permits to develop one of the world's biggest offshore clean energy hubs, to generate wind and solar power and produce green hydrogen, Saipem said on Thursday. The companies have agreed to build 620 megawatts of wind and solar capacity off the coast of... Continue Reading →
