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Nov. 13 (OE) ExxonMobil has made a final investment decision (FID) for the Longtail gas and condensate development offshore Guyana following government and regulatory approvals, with an additional investment of $12.5 billion planned and production targeted to start in 2030. Longtail will be the eighth development in the Stabroek block, targeting non-associated gas and condensate-rich... Continue Reading →
Nov. 12 (PN) Petrobras expects to add at least 520,000 barrels of oil per day to its production capacity by expanding the capacity of its existing FPSOs. According to the company’s CEO, Magda Chambriard, this strategy will allow for the acceleration of additional production by four years, while also avoiding an estimated $10 billion to... Continue Reading →
Nov. 11 (Reuters) Dutch floating production specialist SBM Offshore on Thursday raised its full-year revenue and core profit guidance for the third time this year, citing a strong year-to-date performance driven by its turnkey unit. The company lifted its directional revenue outlook for the year to about $7.9 billion from $7.6 billion, and said it... Continue Reading →
Nov. 11 (oilnow.gy) Japan’s MODEC earned more construction revenue from ExxonMobil’s Hammerhead project offshore Guyana in the first nine months of 2026, the company said in its November 10 investor presentation. Group revenue rose 10.1% to US$3.69 billion, while profit attributable to shareholders increased 24.8% to US$306.5 million. MODEC said revenue from Hammerhead and Shell’s... Continue Reading →
Nov. 10 - In a quarter marked by strong operational performance, with record results in the E&P, Refining and Marketing segments, Petrobras reported net income of BRL 39.8 billion (US$ 7.7 billion) in the third quarter of 2024. Excluding one-off items in the quarter, net income reached BRL 47.9 billion (US$ 9.3 billion), representing a... Continue Reading →
Nov. 8 (PN) On the eve of completing 50 years of production, the Campos Basin finds itself at a decisive juncture for its future within the Brazilian oil and gas industry. Responsible for more than half of all the oil ever produced in the country, the region is now grappling with the effects of field... Continue Reading →
Nov 9 (PN) Brazil’s oil production is projected to reach a peak of approximately 5 million barrels per day by 2028, driven primarily by the start of operations for new units in the pre-salt region. This forecast is included in the Oil and Natural Gas Production section of the Ten-Year Energy Expansion Plan 2036 (PDE... Continue Reading →
Nov. 7 (offshore-energy.biz) Brazil’s state-owned energy giant Petrobras has secured approval in principle (AiP) from classification society Lloyd’s Register (LR) for its floating production, storage, and offloading (FPSO) concept, advancing a redevelopment plan that adapts the proven P-68 FPSO design to cut risk, cost, and delivery time in Brazil’s Santos Basin. Lloyd’s Register, which awarded... Continue Reading →
Nov. 5 (PN) New developments from Petrobras in the Campos Basin: the company has begun drilling the second well in the Norte de Brava block, according to data provided by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The well, technically identified as 9-BRSA-1406D-RJS, is being drilled in a water depth of 603... Continue Reading →
Nov. 5 (splash234.com) razil’s competition watchdog CADE has given conditional approval to the proposed merger between Italian offshore engineering giant Saipem and Norway’s Subsea 7, requiring the companies to sell a specialised pipelay vessel to address competition concerns. The Brazilian regulator approved the combination, which will create Saipem7, after the companies agreed to divest the... Continue Reading →
