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The UK-based oil firm is operating the project with a 60 percent stake, with the remaining 40 percent currently held by Rockhopper exploration. The company has been in talks to secure a loan to fund the development of the first phase of the 250 mmboe (gross) of resource in Phase 1 of the Sea Lion... Continue Reading →
Rosneft PJSC’s second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected. While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline... Continue Reading →
Offshore drilling contractor Seadrill posted a net loss of $206 million in the second quarter of 2019, compared to a net loss of $432 million in the second quarter of 2018. Adjusted EBITDA for the second quarter was $69 million which was higher than Seadrill’s guidance of $55 million primarily due to the timing of... Continue Reading →
Offshore services firm Subsea 7 is calling for experienced engineers from all sectors to apply for the company’s Engineering Conversion Programme and potentially earn a job in the offshore oil and gas industry. According to Subsea 7, since 2005, the company’s Engineering Conversion Programme has enabled experienced engineers from aerospace to automotive, and onshore construction... Continue Reading →
Aug 20, 2019 Eneva and Alvopetro began drilling new wells last week, according to the ANP. Both campaigns are carried out in blocks contracted in the 13th round of bids of the agency. Eneva drills the 1ENVBL69GMA with the Great Solutions Oil 120 rig in the PN-T-69 block in the Parnaíba Basin. The company plans... Continue Reading →
Aug 20, 2019 Abespetro is preparing the election of its new board. There will be six members, one CEO and five directors, with a two-year term starting January 1, 2020. Unlike in previous elections, this time most current directors should not attempt reelection. Sources in the association anticipate that of the six executives, five have... Continue Reading →
Aug 19, 2019 The federal government's ambitious New Gas Market program carries with it a number of risks to investors as there are legal, tax and regulatory uncertainties, not to mention supply and demand issues, in Wood Mackenzie's assessment. According to the global energy research and consulting firm, if the plan were to be executed... Continue Reading →
August 17, 2019 The National Petroleum Agency (ANP) will offer, on September 10, 273 exploratory blocks and 14 areas with marginal accumulations in six sedimentary basins in the country. It is the first cycle of permanent offer of areas, which offer to the market - from the indication of companies operating in the country -... Continue Reading →
Aug 19, 2019 The offer of 15 exploratory blocks in the SC-AR4 sector in shallow waters of the Campos Basin may attract the interest of independent oil companies registered in the Permanent Offer. The blocks are near the fields of Polvo, operated by PetroRio, and Peregrino, operated by Equinor, which is not registered in the... Continue Reading →
The Brazilian oil and gas regulator ANP has granted BW Offshore the oil and gas operator status in Brazil. ANP has also approved the transfer of Chevron and Petrobras’ participating interest in the Maromba field to BW Offshore. BW Offshore announced its agreements with Chevron and Petrobras for the acquisition of Maromba field in March.... Continue Reading →
Brazil Energy Insight 