Brought to you by Quest Offshore & Southern Cone Consultants
Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15 years and a staggering 29 per cent decrease of $156 billion compared to 2019, according to Rystad’s... Continue Reading →
Jun 10, 2020 The Ministry of Mines and Energy presented the schedule for the auction of Sepia and Atapu, remaining from the Transfer of Rights. The federal government expects the announcement to be published in the second quarter of next year, followed by the auction in the third quarter of 2021. Earlier this month, Minister... Continue Reading →
Jun 10, 2020 Ocyan offers the oil and gas sector a new paradigm for drilling in water depths below 500 meters using a drillship in dynamic positioning, without the use of anchoring. The novelty was achieved for the first time last month with the Norbe VIII rig, in the Albacora field, in the Campos Basin... Continue Reading →
Bahamas Petroleum Company, an oil firm with assets in the Bahamas, and as of recently offshore Uruguay, is set to merge with Trinidad-focused Columbus Energy Resources. The boards of directors of the two companies on Thursday said they had reached agreement on the terms of a recommended all-share merger by way of a share for... Continue Reading →
Uruguay’s state-run oil company Ancap has held informal talks with at least two refiners in South America to gauge their appetite for joining forces to gain more clout in the regional market, Chairman Alejandro Stipanicic said. A potential deal could include agreements to jointly buy crude and export refined products, as well as the pooling of technical... Continue Reading →
Jun 10, 2020 Petrobras has qualified ten companies to participate in the next bidding process to contract its own FPSO under the EPC (Engineering, Procurement and Construction) model: Brasfels and EBR (Brazil), Daewoo Shipbuilding, Hyundai and Samsumg (South Korea), Keppel Singapore , SBM (Netherlands), Technip (based in London) and Modec and Toyo (Japan). The Italian... Continue Reading →
Mexico’s state oil giant is suspending contracts with service providers and suppliers, triggering thousands of job losses, people with direct knowledge of the situation said. Over the past several weeks, Pemex has suspended contracts with at least eight local and international oil-service providers and suppliers to cut spending, said the people, who asked not to... Continue Reading →
June 10, 2020 The company Pre-Sal Petróleo (PPSA) released today (10) the first Monthly Bulletin of Production Sharing Contracts, which reveals that, in April, the total production of oil under sharing in the pre-salt area, including consortia and Union, reached 56 thousand barrels per day (bpd). The bulletins will be monthly. Created in November 2013,... Continue Reading →
Inflation in Brazil is on course to fall to an all-time low this year as Latin America’s largest economy sinks, giving the central bank leeway to keep interest rates lower for longer or reduce them closer to zero. The crisis unleashed by COVID-19 will likely cause the biggest fall in gross domestic product since records... Continue Reading →
Company uses new technologies to reinforce its safety culture Innovation has been an important ally for Wilson Sons in the success of its Health, Safety, and the Environment (HSE) programme. With a fleet of 80 tugboats, the largest in Brazil, the Company has been able to reduce the rate of lost- time accidents by more... Continue Reading →
