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There is a long ride ahead for the offshore support vessel owners, and some of them might not make it to the finish line. Namely, a recent study by AlixPartners has shown that a number of OSV players are looking at a potential bankruptcy. A recent study by AlixPartners confirmed that what most of the people in... Continue Reading →
Rio de Janeiro, February 6, 2019 – Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media about possible collective arbitration by an association of investors, clarifies that it has not been notified by the Arbitration Chamber of São Paulo Stock Exchange (B3). If notified, Petrobras shall take all measures to... Continue Reading →
U.S. oil major ExxonMobil can’t stop finding oil in Guyana. After a string of discoveries in the past two years, the company on Wednesday said it had made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12. The discoveries build on... Continue Reading →
Equinor reports adjusted earnings of USD 4.4 billion and USD 1.5 billion after tax in the fourth quarter of 2018. IFRS net operating income was USD 6.7 billion and the IFRS net income was USD 3.4 billion. The fourth quarter and full year were characterised by: Solid results and strong cash flow. Net debt ratio... Continue Reading →
Universal Subsea, Inc. (USI) said it has launched a revolutionary, environmentally friendly, subsea equipment preservation fluid for commercial use globally. Defender Stasis LT preservation fluid is a lightweight, nontoxic, biodegradable preservation fluid that provides long-term protection for subsea equipment components and interface profiles. The fluid is compatible with all commonly used metals and nonmetallic materials... Continue Reading →
Airborne Oil & Gas has named Renato Bastos as vice president Brazil. Renato will be responsible for delivering the company’s roadmap to qualify the Thermoplastic Composite Pipeline (TCP) riser for dynamic application in deepwater Brazil. Continue reading
ION Geophysical, a Houston-based geoscience company, will expand its multi-client data through a new 2D multi-client re-imaging program offshore Brazil. ION said on Tuesday that the first phase of the Farofa program covered acreage in the deepwater Campos basin that would be available for licensing this October in Brazil’s upcoming Round 16. The program will... Continue Reading →
February 6, 2019 Brazil will continue to dominate global oil and gas production in deep waters, accounting for 40% of the total oil and gas production in this environment by 2025, predicts the Westwood Global Energy Group. Maintaining the Brazilian position is mainly associated with Petrobras' business plan, which forecasts production of 2.84 million bopd... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil and Chile, today announced its independent oil and gas reserves assessment, certified by DeGolyer and MacNaughton Corp. (D&M), under PRMS methodology, as of December 31,... Continue Reading →
TechnipFMC has been awarded by Petrobras, on behalf of the Libra Consortium, comprised of Petrobras, Shell, Total, CNOOC Limited, CNPC and Pré-Sal Petróleo (PPSA), a large engineering, procurement, construction and installation (EPCI) contract for the Mero 1 pre-salt field, located in the Santos Basin, at 2,100 meters of water depth offshore Brazil. The contract covers... Continue Reading →
Brazil Energy Insight 