Spanish oil company Repsol reported a net income of 610 million euros in the first quarter of 2018. This was a drop compared to 689 million euros earned in the first quarter of 2017. In 1Q 2017, Repsol booked an extraordinary effect on the value of oil product inventories held as part of Spain’s strategic reserve... Continue Reading →
International oil companies schedule drilling campaigns in Brazil
The drilling activity in Brazil will regain momentum and new campaigns outside the scope of Petrobras, starting in 2019. After long years of fasting, IOCs such as Statoil, which already started a campaign, Shell, Total and Chevron prepare to start new drilling in offshore areas, some of which will mark the debut of these... Continue Reading →
100 offshore projects could be sanctioned in 2018, Rystad Energy says
A hundred offshore oil and gas projects might be sanctioned in 2018, up from 60 in 2017, and 40 in 2016, Rystad Energy, a Norway based energy intelligence group said on Thursday. Rystad said that the current tailwind in the oil market is likely to propel 100 new offshore projects this year. These projects represent... Continue Reading →
QGEP starts production from Atlanta field offshore Brazil
Brazilian independent oil company QGEP has started oil production from its Atlanta offshore field using the early production system in the form of Petrojalr 1 FPSO. QGEP on Thursday informed that the first oil from the field located in Brazil’s Santos Basin started flowing on May 2, from one well. Read more
Transocean forecasts growth of the drilling rig fleet in Brazil
Brazil may once again have a contracted fleet of offshore drill rigs of more than 40 units within the next two years, says Transocean CEO Jeremy Thigpen. "If the [private oil companies] IOCs hire drilling rigs to drill their prospects and Petrobras continues to compete to contract contracts in the coming quarters, we expect... Continue Reading →
Atlanta Field Timeline
May 3, 2018 The Atlanta field is the first 100% private project to be producing in the Santos Basin Queiroz Galvão E & P announced that it started production of the Petrojarl I FPSO, chartered with Teekay Offshore, in the Atlanta field Santos Basin, 17 years after first drilling well. Well 7-ATL-2HP-RJS is in... Continue Reading →
Noble Corp. narrows 1Q loss. CEO sees jack-up market improving
Offshore drilling company Noble Corp. is seeing improvement in the offshore rig market, with the jack-up rig market driving the demand uptick. Julie Robertson, the company’s CEO, said that when compared to the fourth quarter of 2017, “customer demand is noticeably greater, especially in the jack-up fleet.” Read more
DNV GL to classify two OOS decom market bound jack-up rigs
China Merchants Heavy Industry (CMHI) and DNV GL have signed a letter of intent (LOI) for the classification of two multi-activity jack-up units at the Offshore Technology Conference (OTC) in Houston. DNV GL said that the LOI for the two rigs, ordered by OOS Energy, was signed on Wednesday. The two 96-meter-long rigs ordered by... Continue Reading →
McDermott, CB&I merger gets shareholder support
McDermott and CB&I have both received the necessary stockholder approvals to complete the proposed merger, McDermott said on Wednesday. Upon completion of the transaction, McDermott stockholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47 percent of the combined company. Read more
Petrobras continues to postpone bidding for Búzios V FPSO
Petrobras postponed for the eighth time the deadline for submitting bids for the FPSO charter of Búzios V, a production unit scheduled to start operating in 2021. The new date has been rescheduled for May 15. The change in schedule, according to Petrobras, was again caused by requests from some participating companies. The proposals were... Continue Reading →
Brazil Energy Insight 