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(Offshore-energy.biz) After another year of active tendering, Subsea7 secured $7.4 billion of contract awards in 2023, taking its backlog to $10.6 billion, a year-end level last seen in 2013. In its full-year 2023 financial report, Subsea7 reported revenue of $6 billion, an increase of $838 million or 16% compared to the prior year, said to... Continue Reading →
(Offshore-energy.biz) Offshore drilling contractor Diamond Offshore Drilling is looking forward to reaping the benefits of higher day rates, once its rigs move to their new contracts that poured in during 2023. With $245 million in backlog added in the fourth quarter of 2023, the rig owner’s fleet utilization level rose to 69% while its revenue... Continue Reading →
Energy and marine consultancy ABL Group has secured a contract by POSH Projects to act as tow master to support and supervise the towage of the Mero 3 FPSO from Yantai in China to Brazilian waters. As part of its scope of work, ABL’s operations in Singapore will provide a tow master to act as... Continue Reading →
(PN) Petrobras took a new step in its exploration program in the Espírito Santo Basin. The company started drilling well 1-BRSA-1391-ESS, in block ES-M-596, in a water depth of 2,100 meters. The activity is being carried out with the Norbe IX drillship, from Foresea, according to information from the National Petroleum Agency (ANP). The ES-M-596... Continue Reading →
(Offshore-energy.biz) Siem Offshore has reported operating revenues of $336 million for the fiscal year 2023, an increase from $274.3 million in 2022, and $85.2 million for Q4 2023, compared to $64.3 million in Q4 2022, said to be caused by an uplift in charter rates, generated by increased demand for offshore support vessels (OSVs) and... Continue Reading →
(OET( France’s energy giant TotalEnergies is going full steam ahead with its plans to take a final investment decision (FID) for a large oil project in Block 58 off the coast of Suriname by the end of 2024. Following the appraisal of two main oil discoveries – Sapakara South and Krabdagu – in Block 58, combined recoverable resources of close to 700... Continue Reading →
The platform ship Marechal Duque de Caxias left Yantai, China, today, February 24, heading for the Mero field, operated by Petrobras, in the pre-salt Santos Basin. The platform will start operating in September of this year and has the capacity to produce up to 180,000 barrels of oil and compress up to 12 million cubic... Continue Reading →
Energos Celsius floating storage and regasification unit (FSRU), on a long-term for New Fortress Energy (NFE), has arrived to NFE’s LNG terminal in Barcarena in Brazil’s Pará state. The FSRU Energos Celsius was built by Seatrium and delivered to NFE in December 2023, which then departed from Singapore to Brazil. The FSRU has a nominal regasification... Continue Reading →
(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported fourth quarter 2023 results. President and Chief Executive Officer Anton Dibowitz said, "We continue to execute on our operating leverage by repricing rigs from legacy day rates to meaningfully higher market rates and successfully delivering reactivated rigs with attractive contracts. At the same time,... Continue Reading →
Despite suffering an adjusted net loss of $74 million during fourth-quarter 2023, offshore drilling company Transocean is in the midst of an upcycle, which CEO Jeremy Thigpen presciently predicted in the company’s third-quarter 2023 earnings call. Now it just needs to pay off. After a tough fourth quarter, Transocean expects to see a meaningful increase in demand for “longer-duration... Continue Reading →
Brazil Energy Insight 