ExxonMobil has made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. To remind, ExxonMobil made its tenth discovery offshore Guyana last December with the Pluma-1 well and the next two in February at the Tilapia-1 and Haimara-1 wells. Announcing the 13th discovery on Thursday ExxonMobil... Continue Reading →

Rio de Janeiro, April 18, 2019 - Petróleo Brasileiro S.A. – Petrobras announces that it has completed the drilling of the well 3-SES-192 (Petrobras nomenclature) / 3-BRSA-1367-SES (ANP nomenclature)l in the area known as Moita Bonita, located in the BM-SEAL-4 concession, 80 km from the city of Aracaju, at a water depth of 2,629 meters.... Continue Reading →

Schlumberger Ltd. said parts of its international business are finally starting to recover, but the world’s biggest oil services giant warned that spending by U.S. shale producers will continue to shrink in 2019. American fracking faces "another challenging year," the Paris and Houston-based company said Thursday. Elsewhere in the world, it sees growth in the shallow-water... Continue Reading →

  4/17/2019 LONDON, HOUSTON and SINGAPORE -- Argentina's first national offshore licensing round was held April 16, 2019, in Buenos Aires. Of the 38 blocks offered in an open bid round, 18 were licensed. The round attracted bids from 13 companies, with the winning bids totaling $718.28 million. All Majors participated in the bidding, aside... Continue Reading →

Offshore driller Transocean has secured more work for its drilling rig fleet, adding approximately $373 million in contract backlog since its last fleet status report in February. In the latest fleet status report issued on Wednesday, April 17 Transocean said that its total backlog is now $12.1 billion. During this period, Transocean has secured new... Continue Reading →

Singapore’s offshore rig builder Keppel Offshore & Marine bounced back to the black during the first quarter of 2019 from a loss in the same period of 2018. Keppel Offshore & Marine Division’s revenues were flat year on year amounting to S$332 million (US$245M) in both the first quarter of 2018 and 2019. The Offshore... Continue Reading →

Italian oilfield services contractor Saipem returned to profit in the first quarter of 2019 from a loss in the prior-year period thanks to strong performance in the Offshore Engineering & Construction division. According to its financial report for the first quarter of 2019, Saipem’s revenues increased by 12.6% to €2.16 billion ($2.4B) in 1Q 2019... Continue Reading →

Brazil’s government will require a signing bonus of 106 billion reais ($26.9 billion) in an auction of exceeding oil from the pre-salt fields scheduled for Oct 28, Economy Minister Paulo Guedes said on Wednesday. Companies bidding would also have to compensate state-run oil company Petrobras for investments that Petrobras already made in the blocs. The... Continue Reading →

Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending. Schlumberger said net income fell to $421 million, or 30 cents per share, in the three months ended March 31, from... Continue Reading →