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(OET) Newly formed upstream energy investment platform Samos Energy has completed its first acquisition by getting its hands on all shares of PetroFirst, a floating energy infrastructure owner, from funds managed by BlackRock Infrastructure and from Petrofac Limited. According to Samos Energy, this acquisition enables it to take over PetroFirst’s fleet of three offshore production... Continue Reading →
(Reuters) Mexican oil company Pemex estimates that a deadly fire on a major offshore platform off the southern edge of the Gulf of Mexico has led to the loss of 700,000 barrels of crude oil production so far, while one person remains missing, the CEO of the state company, Octavio Romero, said on Saturday. The... Continue Reading →
(GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Wednesday it has been awarded a significant order, to be booked in the second quarter of 2023, by MODEC to supply gas technology equipment for the BM-C-33 project in the Brazilian pre-salt Campos area. The project is developed by Equinor with partners Repsol Sinopec Brasil... Continue Reading →
(Reuters) - Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives. The exploration revival - on the part of European majors in... Continue Reading →
(OET) UK-headquartered TechnipFMC has been hired by Azule Energy, a joint venture between BP and Eni, to provide subsea production systems for a development project offshore Angola. TechnipFMC deems the contract to be a “significant” one since it is between $75 million and $250 million. Thanks to this deal, the company will supply subsea production systems for Azule... Continue Reading →
The Brazil-bound FPSO Sepetiba sailed away from the BOMESC shipyard in China on June 16, 2023, following completion of the topsides integration and onshore commissioning phases. The unit—SBM Offshore’s third Fast4Ward FPSO—is transiting to the Mero field in the Santos Basin offshore Brazil, located 180 kilometers offshore Rio de Janeiro. SBM Offshore has a contract... Continue Reading →
(OET) UK-headquartered energy giant Shell has decided to step up its decarbonization efforts by boosting its low-carbon energy solutions business with investments of $10-15 billion over the next two years. This is part of the oil major’s transformation strategy to help usher in a balanced energy transition. Shell is actively working on curbing emissions not... Continue Reading →
(PH) Angelica Ruiz took charge of bp in Brazil just three months ago, but she already has a lot of work ahead of her. The executive, who accumulates the position of VP of Latin America, has the challenge of leading the operation of a company that, present in the country since 1957, operates in the... Continue Reading →
(OET) UK-headquartered oil and gas company Tullow Oil is mulling over all options for its interest in an oil field located offshore the Ivory Coast. This comes after BW Offshore secured a short-term contract extension for one of its floating, production, storage and offloading (FPSO) vessels, which is working at the field. As Tullow Oil’s... Continue Reading →
(OET) Brazilian offshore oil and gas industry services provider Ocyan has confirmed the completion of its restructuring process, which enabled it to separate its drilling business into a new company, temporarily being called DrillCo. The business side covering offshore production, subsea construction and decommissioning, maintenance, and offshore services remains fully at Ocyan, according to the... Continue Reading →
Brazil Energy Insight 