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Thai energy company PTT Exploration and Production Pcl said on Monday its joint venture had made two deep-water oil discoveries in the Salina Basin, offshore Mexico. The Mexican subsidiary of PTTEP, Thailand's largest oil and gas producer, and three partners including the Mexican subsidiary of Spain's Repsol SA, will be assessing commercial potential of the... Continue Reading →
Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output. Mark Bynoe, the director of the Department of Energy, said the country's crude production averages between 75,000-80,000 barrels per day (bpd)... Continue Reading →
May 4, 2020 The crisis caused by the coronavirus pandemic is changing the calendar for the entire oil and gas sector in Brazil. This time, the National Petroleum Agency (ANP) decided to extend to December 31 this year the deadline for Petrobras to conclude the divestments of its fields onshore and in shallow water. The... Continue Reading →
May 4, 2020 ABESPetro and IBP are committed to seeking joint solutions to overcome the unprecedented crisis in the oil and gas industry. If, on the one hand, the focus on adopting measures to preserve the health of employees is a consensus between the two main entities in the sector, on the other, disagreements on... Continue Reading →
May 4, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in the Manati field, a maritime production concession in shallow waters located in the Camamu Basin, in the State of Bahia. The teaser, which includes key information about the... Continue Reading →
May 4, 2020 Petrobras exported 1 million barrels of oil per day in April. This represents a new oil export record and contributes to strengthening the company's cash flow. The previous record was 771 thousand barrels per day, set in December 2019. The result occurs in a challenging period of the world economy, with high... Continue Reading →
May 4, 2020 Petrobras suspended the result of the bidding process for the acquisition of goods and services to adapt the submarine gas network at Parque das Baleias. Petrobras' bidding committee reviews classification of Brazilian company Prática Engenharia in first place, with the price of R $ 268.492 million, the oil company published a statement... Continue Reading →
The worldwide offshore rig count in April 2020 dropped 28 rigs year-over-year and 19 rigs sequentially, according to rig count reports by Baker Hughes. Baker Hughes splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. Continue reading
Offshore engineering services company Oceaneering has said its board has approved voluntary base salary reductions of the executive management team and other members of senior management, effective as of May 1, 2020. Oceaneering explained the move was consistent with its commitment to cost reductions during the ongoing public health and energy market crises. Continue reading
Flow assurance can keep offshore wells productive, and it requires successfully preventing or mitigating problems in the reservoir, the subsea flowlines and the topsides equipment. To prevent flow assurance problems, it’s necessary to identify potential issues, then determine how best to resolve those issues. But preventing a problem in one area can have knock-on effects... Continue Reading →
