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Norwegian offshore supply vessel owner Solstad offshore has secured several contract extensions with oil companies Total and Equinor in Brazil. France's Total has extended the contracts for the platform supply vessel Normand Swift and the AHTS vessel Far Sagaris until December 2020. Tge vessels will be used to support Total’s activities in the Lapa field... Continue Reading →
Seismic surveyor TGS, a supplier of geological data to the global oil industry, on Thursday said it had made an unsolicited cash offer of $600 million for a key part of rival PGS. If successful, the offer to buy PGS's so-called multi-client library would significantly broaden TGS's worldwide geophysical data offering, the company said. Continue... Continue Reading →
Hefty financial losses and a depressed oil market fail to sway Brazilian NOC from pursuing ambitious upstream strategy The first half of the year was dire for Brazilian state oil firm Petrobras. The producer posted a combined $10.1bn loss, driven mainly by the oil price shock of Covid-19, currency devaluation and $13bn in impairment charges.... Continue Reading →
August 7, 2020 Petróleo Brasileiro S.A. – Petrobras hereby announces that the Executive Board approved the monthballing of the Merluza platform (PMLZ-1), located in shallow waters in the Santos Basin. The platform’s production had already been interrupted since March 2020, with the abrupt drop of demand for natural gas, and the deactivation will allow the... Continue Reading →
August 7 , 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on June 29, 2020, informs the beginning of the binding phase, referring to the sale of its entirem stake in the Tartaruga field, belonging to the SES-107D concession, located in shallow waters of the Sergipe-Alagoas Basin. Potential buyers qualified... Continue Reading →
August 7, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on 06/26/2020, informs the beginning of the binding phase, referring to the sale of its entire stake in a set of seven onshore production concessions (Urucu Cluster), located in the Solimões Basin, in the state of Amazonas. Potential buyers qualified... Continue Reading →
Offshore drilling contractor Noble Corporation has won a six-month contract for its Noble Sam Croft drillship with ExxonMobil in Guyana. Noble shared the news as part of its 2Q results presentation in which it posted a loss of $42 million. The drilling company, which last week filed for Chapter 11 bankruptcy, said Wednesday ExxonMobil had awarded... Continue Reading →
Malaysian FPSO provider Yinson has awarded Royal IHC a contract for the supply of a tandem mooring and offloading system and a riser pull-in system for the Anna Nery FPSO. Royal IHC said that the equipment would be placed onto the Anna Nery floating production, storage, and offloading (FPSO) vessel on behalf of Yinson. Continue... Continue Reading →
Offshore drilling contractor Vantage Drilling reported a net loss attributable to controlling interest of approximately $31.9 million for the second quarter of 2020. For comparison, Vantage Drilling's 2Q income last year was $590 million, however, this result was mainly due to Vantage receiving around $700 million from Petrobras as part of an arbitration award over... Continue Reading →
The proposed all-stock merger between Bahamas Petroleum Company and Columbus Energy Resources was sanctioned by the court on Wednesday, paving way for the merger execution. Bahamas Petroleum Company, an oil firm with exploration assets in the Bahamas, and as of recently offshore Uruguay, and Trinidad-focused oil and gas production Columbus Energy Resources first announced intention to merge in... Continue Reading →
