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(Reuters) 3R Petroleum (RRRP3) will present to its shareholders, investors and the market in general the preliminary and unaudited operational data referring to the monthly production of the assets in which the oil company holds interest. Regarding the Macau Cluster, total production in January grew by 3.8%, compared to December, and totaled 4,683 barrels of... Continue Reading →
Ministry of Mines and Energy (MME) launches, in an online event promoted by the Energy Research Company (EPE), on March 11, the Program to Revitalize and Encourage the Production of Offshore Fields (Promar). The program seeks to create conditions for the revitalization of mature offshore fields and to improve the economic use of accumulations of... Continue Reading →
The downturn brought by the Covid-19 pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry, whose production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows. The five integrated supermajors – ExxonMobil, BP, Shell, Chevron, and Total –... Continue Reading →
Oil major ExxonMobil has experienced technical issues with a gas compressor on the SBM Offshore-owned FPSO Liza Destiny, working for ExxonMobil offshore Guyana. Experts are now working to define the scope of repairs and fix the issue. ExxonMobil said at the end of January 2021 that there was a technical issue regarding a seal on... Continue Reading →
COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account for more than 60% of the FPSO contracts awarded between 2021 and 2025. These are the... Continue Reading →
Subsea boosting could make an immediate increase in production profitably on more than 200 oil projects globally, according to Rystad Energy’s newly launched Subsea Processing Screening Tool. The increase in recoverable reserves for the top 100 projects, out of more than 200 projects identified where subsea boosting would be profitable, averaged 61 million barrels of... Continue Reading →
Austrian crane provider Palfinger has secured a contract with Malaysian Yinson to provide cranes, lifeboats, a rescue boat, and davits for an FPSO bound for Brazil. Yinson secured a contract from Petrobras for the delivery, operation, and maintenance of an FPSO for the Marlim 2 oil field in the Campos Basin off Brazil in March 2020.... Continue Reading →
FPSO operator BW Offshore has decided to record an impairment to the book value of three FPSOs, amounting to $59.6 million, in the fourth quarter of 2020 amid continued uncertainty regarding redeployment. The three FPSOs are Berge Helene, BW Cidade de São Vicente, and Espoir Ivoirien, BW Offshore said on Wednesday. According to BW Offshore,... Continue Reading →
(Reuters) - A consortium of Talos Energy Inc, private equity firm EIG Global Energy Partners, Enauta Participacoes SA and 3R Petroleum Oleo e Gas SA has submitted a non-binding offer for Brazilian oilfields Albacora and Albacora Leste, four sources familiar with the matter told Reuters. The exact value of the bid submitted to Brazil’s state-led... Continue Reading →
Equinor (STOHF) (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of positive USD 0.76 billion and negative USD 0.55 billion after tax in the fourth quarter of 2020. IFRS net operating income was negative USD 0.99 billion and the IFRS net income was negative USD 2.41 billion, following net impairments of USD 1.30 billion and a... Continue Reading →
Brazil Energy Insight 