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The development of the 17 production sharing contracts in force represents an investment demand of US$ 122.7 billion, between 2021 and 2030, peaking in 2028, when six new FPSOs come into operation, according to PPSA estimates. - The studies are presented at the 3rd Pre-Salt Petroleum Technical Forum. - The investment projection considers the entry... Continue Reading →
Suriname's Staatsolie has offered eight offshore exploration blocks in the shallow waters off the coast of South America's smaller country up for bidding. Staatsolie, the national oil company of Suriname, said the blocks, covering around 13,524 km2, are located in the currently unlicensed and underexplored shallow offshore acreage of Suriname. The blocks are located in... Continue Reading →
(Reuters) - Oil firm Equinor EQNR.OL expects global oil demand to peak by around 2027-2028, two-free years earlier than the company previously saw, as a result of the COVID-19 pandemic, it said on Tuesday. There is no agreement on when oil demand could peak, but expectations weigh on oil companies’ plans to explore for and develop new... Continue Reading →
LOC Mexico, a subsidiary of marine and engineering consultancy LOC Group has secured its third contract this year from Permaducto, an enterprise part of the Mexican oilfield services and infrastructure development firm Protexa. Under the contract, LOC Mexico will provide marine warranty survey (MWS) for two submarine pipelines, specifically KMZ-101 and KMZ-103, at Maloob field... Continue Reading →
Brazilian oil major Petrobras has launched an opportunity disclosure stage (teaser) for the sale of its 50 per cent in offshore oil fields known as the Marlim Cluster in the Campos Basin, offshore Brazil. Petrobras said it was looking to sell stakes in the deepwater concessions of Marlim, Voador, Marlim Leste, and Marlim Sul fields. The company, which currently owns... Continue Reading →
U.S. oil major ExxonMobil has made another oil discovery off Guyana, at the Tanager-1 well, however, the discovery is reported as non-commercial. Unlike Exxon's previous Guyana wells which were drilled in the Stabroek offshore block, and which unearthed more than 8 billion barrels of oil, the Tanager-1 well was drilled in the nearby Kaieteur Block. Westmount Energy, which... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on September 25, 2020, informs the beginning of the non-binding phase regarding the sale of all of its stakes in the Albacora and Albacora Leste concessions, located predominantly in deep waters in the Campos Basin. Potential buyers qualified for this phase will receive instructions... Continue Reading →
One of the world's largest conferences and exhibitions dedicated to the offshore energy industry will be postponed next year due to the ongoing COVID-19 pandemic. The Offshore Technology Conference, which attracts tens of thousands of visitors to Houston annually, will be postponed from May 3-6 to August 16-19, the event's board of directors announced Monday,... Continue Reading →
A new opportunity that promises to move - and a lot - the chain of service providers for oil and gas in Brazil at the end of 2020. Petrobras launched a mega tender for maintenance and repair services for offshore platforms of its Campos Basin Business Unit. In recent days, the state-owned company has changed... Continue Reading →
SBM Offshore, a Dutch FPSO specialist, has informed that the topside integration phase has kicked off in Singapore on the Liza Unity FPSO. Once completed the FPSO will be deployed at ExxonMobil's Stabroek offshore block in Guyana, and will be Guyana's second FPSO in production. "Progress [with the Liza Unity FPSO] picked up pace when... Continue Reading →
