5/16/2019 The year 2019 has been relatively busy for the subsea segment in Brazil, with large contracts and tenders taking place. In less than six months, two large contracts - possibly surpassing the $ 4 billion mark - were formalized. In February, TechnipFMC entered into a contract with the Libra Consortium to conduct the underwater... Continue Reading →

Offshore driller EnscoRowan has won $180 million in damages in arbitration proceedings against Samsung Heavy Industry stemming from a 2016 drillship case. EnscoRowan on Thursday said: “EnscoRowan today announced that an arbitration tribunal has awarded the Company $180 million in damages in its proceedings against Samsung Heavy Industries, a shipyard in South Korea (“SHI”). Further,... Continue Reading →

For the first quarter of 2019, PetroRio posted net revenue of R $ 139.4 million, an increase of 19% compared to the R $ 117.2 million achieved in the same period of 2018. As the main operational highlight in the quarter, the production of the Polvo field increased by 55% in this comparison basis, as... Continue Reading →

Brazil’s push to overhaul its costly social security system is a welcome step toward healing public finances and the economy, but is not enough to stabilize public debt or trigger a positive review on the country’s credit rating, directors at rating agency Fitch said on Thursday. Speaking at a Fitch event in Sao Paulo, Fitch’s... Continue Reading →

Dutch FPSO specialist SBM Offshore has reported a rise in directional revenue for the first quarter of 2019, boosted by the turnkey segment of the business. The company reported directional revenue of $456 million for the quarter, up from $385 million in the corresponding quarter a year ago. SBM Offshore said that the 18 percent... Continue Reading →

There are growing signs that the worst may be over for Rio de Janeiro, at least for commercial real estate. Rio office occupancy is inching up for the second straight year, as the oil industry emerges from a sprawling corruption scandal that was compounded by a price rout and a bankrupt state government, according to... Continue Reading →

Petrobras Informs payment of interest on capital and dividends to shareholders. See attached company press release. PBR dividends  

While Maersk Drilling’s 1Q 2019 result was impacted by lower day rates and expiry of legacy contracts, the driller expects improved market fundamentals with increased utilization and higher day rates in the longer term. Maersk Drilling earlier this year demerged from its parent company, the Danish shipping giant Maersk, and in early April listed on... Continue Reading →

5/15/2019 Offshore new EPCI (Engineering, Supplies, Construction and Installation) contracts are expected to move approximately $ 80 billion between 2019 and 2020 worldwide, according to a Rystad Energy survey. The Carcará, Lula and Atapu Norte projects in the Brazilian pre-salt are among the projects that will contribute to the increase in turnover in the next... Continue Reading →

5/15/2019 Prysmian has entered into a contract with Total to provide 19 km of thermoplastic umbilicals to the Lapa field in the Santos Basin pre-salt. The agreement, which includes the follow-up of the installation of the lines, provides for a high index of local content, with manufacturing at the company's plant in Vila Velha (ES)... Continue Reading →