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Ocean Valor has been working for Petrobras since its delivery and it was supposed to work for the Brazilian oil giant until October 2018. However, in August 2016 Petrobras terminated the contract two years earlier than planned prompting Diamond to file a lawsuit against Petrobras for unlawful termination. Read more
Brazil’s oil and gas company Petrobras has extended a time charter contract for the MODEC-owned FPSO Cidade de Niterói MV18 located offshore Brazil. Petrobras has extended its contract with MODEC’s Dutch subsidiary and an owner of the FPSO Cidade de Niterói MV18, Opportunity MV18 B.V. (MV18), for the time charter of the FPSO with effect from... Continue Reading →
Norwegian vessel provider DOF Group has been awarded several contracts through its subsidiaries DOF Rederi and DOF Subsea. DOF said on Monday that DOF Rederi has been awarded a one-year contract for the platform supplier Skandi Captain vessel for Peterson Den Helder, with start date in February. Read more
February 9, 2018 Petrobras applied to Ibama for the acquisition of 3D seismic data, with nodes, in the Búzios field, an area of the onerous assignment of the Santos Basin pre-salt. The license application was filed by the oil company on January 23 at the environmental agency. The campaign will be made by Seabed... Continue Reading →
Norway's Statoil plans to start oil production at the discovery of Carcará in Brazil in 2023 or 2024. The discovery, where Statoil plans to drill from one to three wells later this year, could contain more than 2 billion barrels of oil equivalent, said Statoil's head of exploration for the United Kingdom and Norway,... Continue Reading →
They’re cheap to stack and costly to scrap, but old jack-ups are finally moving off to scrapyards. The most junk-laden segment of the offshore rig market looks as if it’s starting to clean itself up. In 2017, 14 jack-ups were sold for scrap (excluding mat and slot rigs). This number is twice as high as it was... Continue Reading →
A fire broke out in the engine room of the P-32 floating production storage and offloading (FPSO) vessel operated by Brazilian oil giant Petrobras on Thursday, February 8. Read more
U.S. oil and gas major ExxonMobil has added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017, the company said on Thursday. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s... Continue Reading →
Financial Highlights Underlying[1] Directional[2] 2017 EBITDA of US$806 million, an increase of c. 4% compared to last year Underlying Directional 2017 Earnings per share of US$0.39, a decrease of US$0.18 year-on-year Directional 2017 revenue of US$1,676 million, a decrease of 17% year-on-year Directional year-end pro-forma backlog of US$16.8 billion, stable compared with US$17.1 billion at year-end 2016... Continue Reading →
Brazil’s central bank cut its key interest rate by 25 basis points to a record low as it signaled the end of the most aggressive easing cycle in the last decade amid risks that reforms could falter and push up prices. All but two of the 40 analysts surveyed by Bloomberg expected the central bank... Continue Reading →
Brazil Energy Insight 