11/16/18 Supply contracts are extended to December 2021 and companies negotiate new terms Comgás and Petrobras closed a legal dispute involving an amount of R $ 1 billion, related to commercial practices in the sale of natural gas. With that issue resolved, the two companies renewed their supply contracts to 2021 and are now... Continue Reading →
Compliance issues may take Exmar from Búzios V
11/16/18 Conformity and difficulties in obtaining guarantees and financing threaten the contract Exmar runs the risk of not being able to ratify the charter agreement with Petrobras for the Buzios V FPSO, scheduled to start operating in 2021, in the onerous assignment field in the Santos Basin. BE Petróleo found that the oil company... Continue Reading →
Shell’s drilling plan for Sul of Gato do Mato receives green light from ANP
11/16/18 The ANP board approved Shell's exploration plan for the southern area of Gato do Mato. The oil company intends to drill two wells in the sharing area, contracted in the 2nd pre-salt auction in 2017. QGOG's Brava Star drill rig was hired to run the campaign at a rate of $ 130,000 /... Continue Reading →
Brazil markets cheered by pro-business make-up of Bolsonaro team
Investors on Friday welcomed the appointment of Santander executive Roberto Campos to head Brazil’s central bank as a sign President-elect Jair Bolsonaro will entrust economic and monetary policy to a market-friendly team of economists. Analysts said Bolsonaro, a former army captain and lawmaker who has admitted having scant knowledge of economics, was assembling an experienced... Continue Reading →
The Bolsonaro goverment may offer 47 exploratory blocks in 2019
There are 42 exploratory blocks in the 16th round and another five in the 6th pre-salt auction November 16th, 2018 The Jair Bolsonaro government can bring to market the offer of 47 offshore exploration blocks in its first year. There are 42 blocks indicated by the National Petroleum Agency (ANP) for the 16th round of... Continue Reading →
REVITALIZATION OF MARLIM AND VOADOR MAY GENERATE MANY BUSINESS OPPORTUNITIES IN 2019
November 16, 2018 2019 will bring the revitalization plan for the Marlim and Voador fields, Petrobrás projects involving the retirement of nine FPSOs and the installation of two new units. But deadlines are short to maintain the schedule of the new platforms in 2021, as predicted in the company's business plan. FPSOs 1 and 2... Continue Reading →
SBM Offshore orders 2nd Fast4ward FPSO hull citing industry uptick
World’s largest FPSO provider SBM Offshore has confirmed it has ordered an FPSO Hull from China’s SWS shipyard on the back of an uptick in the FPSO industry and the increased client interest. The hull is the second FPSO Hull ordered under SBM Offshore’s Fast4Ward program developed to standardize, speed up, and lower cost... Continue Reading →
Tidewater and GulfMark complete merger after shareholder approval
Houston-based offshore support vessel owner Tidewater has completed its business combination with its compatriot GulfMark Offshore, creating an OSV player with the world’s largest fleet. Following the completion, Tidewater has appointed a new CFO. The two companies announced their decision to combine and create a new player with the world’s largest fleet in the OSV sector back... Continue Reading →
SBM Offshore mothballing Brazil yard, FPU business
World’s largest FPSO supplier SBM Offshore will shut down its Brasa yard in Brazil where it integrates FPSO units’ hulls and modules, taking a $20 million impairment. Apart from this, SBM also took a $25 million impairment on its Floating Production Unit business. The Dutch company said that despite Brazil being its key market, with... Continue Reading →
Petrobras could get about $7.9 billion from contract revision
Brazilian oil company Petroleo Brasileiro SA could receive some 30 billion reais ($7.9 billion) from the government in a renegotiation of the “transfer of rights” oil contract, a person following the process told Reuters on Wednesday. The money to pay state-controlled Petrobras, as the company is known, would come from a potential auction of excess... Continue Reading →
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