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The international offshore rig count for the last month of 2017 increased sequentially but dropped on a year-over-year basis, according to monthly rig count reports by Baker Hughes, a GE company. The international offshore rig count for December 2017 was 191, up 8 from the 183 counted in November 2017, and down 19 from the 210 counted... Continue Reading →
Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL), Marubeni and Mitsui Engineering & Shipbuilding (MES) have agreed to invest in a... Continue Reading →
Brazilian oil and gas operator QGEP has informed that Petrojarl I FPSO has arrived in Brazil and is now at the Atlanta offshore field, where it will start producing oil, almost two years behind the original schedule. Teekay’s FPSO Petrojarl I entered into Brazilian waters on December 31, 2017, and arrived at the Atlanta Field in... Continue Reading →
Jan, 2018 Rosneft began drilling in the Solimões Basin, in block SOL-T-169. Another company that will also start the drilling campaign is Tek, which kicked off its work in the REC-T-153 block in the Recôncavo Basin. In relation to the Rosneft project, it is the well 1RNB2AM, which began to be drilled in the... Continue Reading →
FPSO operator BW Offshore has been awarded a contract extension for its floating production storage and offloading (FPSO) unit operating offshore Brazil. BW Offshore said on Sunday it has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. Read more
Dutch provider of heavy lift and accommodation solutions OOS International has named and introduced its new semi-submersible accommodation vessel (SSAV), the OOS Tiradentes. On December 29, 2017, OOS International named the OOS Tiradentes after a famous independence hero in Brazil in collaboration with CIMC Raffles. The SSAV is due to enter OOS International’s offshore operations in 1Q... Continue Reading →
The theme for 2017 was perseverance. For 2018, it’s adaptation. Our offshore rig market outlook for 2018 is based on 1) an oil price which could move within a range over $80 and down to $50 and 2) modest, but increasing, drilling activity. Overall, the market this year will see a continuation of the themes of... Continue Reading →
Looking back, 2017 was the year when a glint of optimism returned to the upstream oil and gas industry. Will we see companies grow in confidence in 2018? With oil prices upwards of $60/bbl, investment stabilizing, and new project sanctions on the rise, we think so. Read more
ExxonMobil Corporation has announced positive results from its Ranger-1 explorationwell, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara,Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 Bboe. Read more
Temer administration has taken decisive action that has succeeded in drawing investment from oil majors but local content issues and taxation are still key factors to resolve by Gareth Chetwynd Rio de Janeiro 5 Jan 2018 00:00 GMT Brazil’s oil sector was a busy place in 2017, with regulatory reforms playing a key role... Continue Reading →
Brazil Energy Insight 