TechnipFMC plc (NYSE: FTI) (Paris: FTI) today announced its Board of Directors has unanimously approved its plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development; and SpinCo, a leading engineering and construction (E&C) player, poised to capitalize on the global energy transition. The... Continue Reading →

Aug 26, 2019 Maha Energy revised its production average in 2019. It is projected to be between 3,300 bopd and 3,600 bopd, volumes 9% and 17% below the estimate announced in March. The review is due to delays in drilling in the Tartaruga field in the Sergipe Basin and in receiving regulatory approvals for the... Continue Reading →

Shearwater GeoServices has established a new Brazilian subsidiary ‘Shearwater GeoServices do Brasil Ltda’ and opened a new office in Rio de Janeiro. The strengthened presence in Brazil follows Shearwater’s continued growth over the past 12 months, including extensive marine seismic acquisition offshore Brazil for a major multiclient company. Shearwater will now offer a full range... Continue Reading →

Closure date for the merger between offshore accommodation rig owners Floatel and Prosafe is not yet certain, as the flotel contractors are waiting for the competition authorities to give approval. In separate statements issued in the past week, the two firms said their respective banks have given support for the merger, subject to satisfactory documentation,... Continue Reading →

Brazil’s federal police on Friday raided the headquarters of Latin America’s largest independent investment bank, Banco BTG Pactual SA (BPAC3.SA), and the addresses of its founder Andre Esteves, federal prosecutors said in a statement. Maria das Gracas Foster, former chief executive of state-controlled oil company Petroleo Brasileiro SA (PETR4.SA), was also a target, the statement... Continue Reading →

August 22, 2019 Reate 2020, which will be launched today, the goal is to increase production from 270,000 to 500,000 barrels per day by 2030. The shock of cheap energy promised by the Minister of Economy, Paulo Guedes, will include the revitalization of oil and gas production in land fields. Reate 2020 - Program for... Continue Reading →

Gas Natural Açu, Prumo’s subsidiary, draws on US$750 million project financing for 1.3GW first phase of LNG-to-power complex Second phase of project underway, making the GNA complex the largest infrastructure project in Brazil and a key enabler of the Brazilian new gas market (“Novo Mercado de Gás”) Pedro Parente, Ieda Gomes and Franklin Feder join... Continue Reading →