Round 2 Campos Basin – Sudoeste de Tartaruga Verde – No Bids Santos Basin – Sul do Gato do Mato – winners Shell 80% Operator Total 20% Sapinhoa – winners Petrobras 45% Operator Repsol Sinipec 25% Shell 30%   Norte do Carcara – winners Statoil 40% operator Exxon 40% Petrogal 20%   Total bonus R$... Continue Reading →

A suspension of the biggest oilfield auction in Brazil for years was overturned on Friday two hours after bidding was to start, as the government successfully appealed a federal judge’s ruling that stopped the sale of blocks in the country’s coveted pre-salt region.  Read more

Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), two of the world’s largest oil producers, said on Friday their quarterly profits each jumped about 50 percent, helped by rising commodity prices and lower costs. Read more

Norwegian oil major Statoil has booked a bigger loss for the third quarter 2017 compared to the one posted a year ago while its revenues and production increased during the period.  Statoil on Thursday reported adjusted earnings of $2.3 billion in the third quarter, up from $0.6 billion in the same period in 2016. After... Continue Reading →

Offshore drilling contractor Ensco booked a loss in the third quarter of this year, after reporting a profit in the same period last year. The driller’s revenues were impacted by fewer rig days and lower dayrates.  The UK-based driller, which recently completed its acquisition of Atwood Oceanics, on Wednesday reported a loss of $25.4 million for... Continue Reading →

What do upstream oil and gas companies expect to gain from investing in digital initiatives? They expect faster first oil time, and better decision making, a research conducted by Accenture and Microsoft on 300 upstream leaders in 18 countries has shown. Read more

Finland’s Wärtsilä has successfully tested the remote control of ship operations using a combination of dynamic positioning (DP) and manual joystick control. Wartsila, in collaboration with vessel provider for the project Gulfmark Offshore, carried out the test on August 21 off the North Sea coast of Scotland. Even though the test vessel was in the... Continue Reading →

Oil and gas company Tullow Oil has failed to make a commercial discovery at its Araku-1 well, offshore Suriname. The Araku-1 exploration well in Suriname has been drilled to a total depth of 2,685 meters and penetrated the objectives of the Araku prospect, Tullow informed on Friday. Read more