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Saipem and SEKO have signed a collaboration agreement aimed at the design and industrialization of an innovative subsea metering pump. According to Saipem’s social media update, the subsea metering pump will operate in extreme working conditions. Continue reading
Oil services company Archer returned to profit in the second quarter of this year from a loss in the same period last year. Archer posted a net income of $3.5 million for the second quarter of 2019 compared to a loss of $7.4 million in the prior-year quarter. The company’s revenues increased to $235.6 million... Continue Reading →
Valves (PJV), the specialist manufacturer and supplier of valves for the global energy industry, has been awarded three significant FPSO valve contracts for projects in Brazil, Mexico and Nigeria. In Brazil, PJV will manufacture and supply valves to a project located in the Santos Basin. The company will deliver a range of globe and check... Continue Reading →
Brazil’s lower house of Congress early on Wednesday approved the text of a far-reaching pension reform bill in a second round of voting, and eyed finalizing all deliberations on the bill by the end of the day, as the central economic reform of President Jair Bolsonaro’s administration steadily advances. The text had already been approved... Continue Reading →
Aug 7, 2019 The state-owned Pre-Salt Oil company, PPSA, has made available three more modules of the Oil Production Sharing Expenditure Management System for pre-salt field operators. The digital system allows online tracking of all documentation concerning a series of information on the operation of the contracts, which provides for the transfer of part of... Continue Reading →
Aug 7, 2019 All conditions for the merger between TGS-NOPEC Geophysical and Spectrum have been fulfilled, and the parties have declared the transaction unconditional. According to Spectrum’s update, the first day of trading in combined company is set for August 15, 2019. TGS agreed the merger with Spectrum, creating a leading provider of 2D and... Continue Reading →
The worldwide offshore rig count in July 2019 went up by 10 units compared to June, and 45 year over year, according to monthly rig count reports by Baker Hughes, a GE company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The worldwide offshore... Continue Reading →
Occidental Petroleum is selling bonds to help finance its $38 billion acquisition of Anadarko, as debt issuers show faith in Tuesday’s market rebound. Occidental is selling bonds in as many as 10 parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, may yield 2.7 percentage... Continue Reading →
Saipem-Sonsub’s Hydrone-R underwater intervention drone was recently launched in water to start the endurance and qualification tests prior to its commercialisation by year’s end. The Hydrone Program is the key workstream of Saipem’s Technology Development Plan within subsea robotics; a strategic move aimed at changing the paradigm of underwater inspections and interventions via a fleet... Continue Reading →
Aug 6, 2019 Rio de Janeiro's new natural gas regulatory framework is expected to be "fully in place" within a few days, state oil and gas deputy secretary Cristina Pinho said on Monday. “We have been surgical at some points to make a strong connection with the changes being made by the federal government. In... Continue Reading →
Brazil Energy Insight 