08/22/18 Ocyan drilling rig to undergo routine maintenance at the group's yard in Bahia The Enseada Indústria Naval group signed a contract with Ocyan to receive the Norbe VI drilling rig at its shipyard in Maragojipe, Bahia. The expectation is that the drilling rig will remain in the Paraguaçu Unit to undergo routine maintenance. With... Continue Reading →

Offshore drilling company Seadrill Partners’ second-quarter revenues rose, boosted by a rig litigation win. The driller, operating a fleet of eleven offshore rigs and barges, on Tuesday said its total operating revenue for the quarter was $418.1 million, up from $267.9 million a year ago. The increase was mainly attributable to the outcome of the... Continue Reading →

A Brazilian auction of rights to develop additional oil-producing areas in the country’s so-called transfer-of-rights region is unlikely this year, Brazil’s Deputy Mining and Energy Minister Marcio Felix said on Tuesday. The government in 2010 transferred to state-run oil company Petróleo Brasileiro S.A., known as Petrobras, rights to extract 5 billion barrels of oil and... Continue Reading →

08/21/18 Akastor AS (Akastor) intends to sell 50% of its stake in AKOFS Offshore 1 AS (AKOFS) to Mitsui & Co., LTD. (Mitsui) and Mitsui O.S.K. Lines, Ltd. (MOL). According to the purchase and sale agreement entered into in June of this year, each company will acquire 25% of AKOFS shares, which holds the remaining... Continue Reading →

The Brazilian real fell beyond 4 per dollar for the first time since February 2016 after new polls showed that market-friendly presidential candidates are lagging rivals in the runup to the nation’s most uncertain election in more than 30 years. The currency led losses among global peers after the latest polls underscored voter support for the Workers... Continue Reading →

Brazil has relaxed local content requirements for companies developing the Libra offshore oilfield, the government said on Monday, in a move it expects will unlock $16 billion in investment for Latin America’s top oil producer. The move lowers thresholds that dictate what percent of certain equipment and services must be provided locally to levels “more... Continue Reading →

Rio de Janeiro, august 20, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of offers (the “Exchange Offers”) by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to exchange up to U.S.$3,759,866,000 aggregate principal amount of PGF’s newly issued 5.299% Global Notes due 2025 (CUSIP/ISIN: 71647N AV1 / US71647NAV10) (the... Continue Reading →

Subsea services provider Oceaneering International has secured a four-year contract with a one-year optional extension period from Petrobras in Brazil. Oceaneering said on Monday that the contract was won by its wholly owned subsidiary, Marine Production Systems do Brasil Ltda. According to the company, the contract will support intervention and completion operations in Brazil. Read... Continue Reading →