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July 16, 2020 Petrobras will demobilize the FPSO Piranema Spirit, installed in the Piranema field, in Sergipe, in April 2021. The Brazilian oil company notified Altera Infrastructure (formerly Teekay Offshore) about the demobilization date about a month ago, in compliance with a contractual procedure that requires notice ten month prior notice. The demobilization of the... Continue Reading →
The global economy will not achieve a V-shaped recovery after the coronavirus epidemic, which will curtail oil and gas demand for years, Royal Dutch Shell's chief executive said. Ben van Beurden told an online interview with IHS Markit Chairman Dan Yergin that it was too early to know if demand for oil had peaked. Continue... Continue Reading →
Jul 17, 2020 BP Energy initiated the licensing of an exploratory well in the BM-C-35 block, in the Campos Basin. It intends to start the campaign in August 2022 and the well is part of the commitment made to the ANP in the Discovery Assessment Plan (PAD) of the Basilisco prospect. After Petrobras' decision to... Continue Reading →
Jul 16, 2020 Wintershall DEA started the licensing process for an exploratory well in the area of block CE-M-601, in deep waters of the Ceará Basin. The vertical well will be drilled in a 2000 m water depth slide and the company expects to find oil, with an average estimate of 24º API. The CE-M-601... Continue Reading →
The Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, have agreed to curb oil supply from August as the global economy recovers from the COVID-19 pandemic. It is worth saying straight from the off that OPEC+ has been cutting oil production since May by 9.7 million barrels per day, or 10 per... Continue Reading →
Energy industry analysts seem to agree that the future is bright, or at least brighter, when it comes to the contracting activity for the floating production systems, from 2021 onwards after COVID-19 and low oil prices hit the market in 2020. Norway's Rystad earlier this week said that, apart from the Sangomar FPSO ordered by... Continue Reading →
The Carbon Trust sees 70 GW of floating wind installed capacity by 2040, according to a new summary report on the findings from the second phase of the Floating Wind Joint Industry Project (JIP). The report outlines technology challenges that need to be addressed so the commercialisation of floating wind could be sped up, as... Continue Reading →
July 16, 2020 Petróleo Brasileiro S.A. – Petrobras informs that the Oil and Gas Climate Initiative (OGCI), an organization which Petrobras is a member, established a new collective target to reduce the carbon intensity of upstream operations. The new collective target sets an intensity between 20 kg and 21 kg CO2 for each barrel of... Continue Reading →
Marine robotics company Ocean Infinity has completed its survey project for ExxonMobil, within the enormous Stabroek block offshore Guyana where the oil giant has over the recent few years discovered more than 8 billion barrels of oil. The project, announced in February, involved acquiring high-resolution geophysical and geotechnical data through the simultaneous deployment of multiple Autonomous... Continue Reading →
July 15, 2020 BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended June 30, 2020 (“2Q2020”). All figures are... Continue Reading →
