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Houston-based oilfield services provider Helix Energy Solutions has withdrawn its previous financial and operational guidance for this year due to the current situation in the market. Expecting the spot market for 2020 to be significantly weaker than previously predicted, Helix plans to slash its capex by 20 percent. In an update on Monday, Helix Energy... Continue Reading →
Mar 30/2020 Shell found new evidence of oil in well 3-SHEL-32D-RJS, in the south of Gato do Mato, in the Santos Basin pre-salt. This is the second occurrence in the block, where the oil company is conducting a campaign with the Brava Star rig, in a water depth of 2,048 thousand m. The drilling of... Continue Reading →
MAR 30, 2020 The unique characteristics of the pre-salt motivated Equinor and the Institute of Petroleum and Natural Resources (IPR) to carry out a new study to deepen the knowledge about the reservoir rocks of the layer. The research will last four years and the main objective will be to understand the origin and... Continue Reading →
March 30, 2020 Investment cut leads large companies, such as Schlumberger and TechnipFMC, to reduce expenses and postpone projects The fall in the price of oil in recent weeks has led to a wave of investment cuts by global oil companies and, little by little, this movement begins to affect the chain of suppliers of... Continue Reading →
Collapsing oil prices have left African producers facing not only lost revenue when they most need it to tackle coronavirus, but also a fall in hard-won market share they may never regain. The continent's producers such as Nigeria, Angola and Algeria cannot compete with the lower costs of erstwhile allies Saudi Arabia and Russia, who... Continue Reading →
FPSO leasing company BW Offshore has informed that a charter for FPSO Cidade de Sao Mateus has expired. The FPSO was involved in an explosion in February 2015, an incident in which nine workers were killed, and 26 others injured. Continue reading
U.S. offshore engineering and construction company McDermott has been awarded a sizeable contract by BHP to provide pre-front-end engineering design (pre-FEED) services for a floating production unit (FPU) that will be installed at the Trion field offshore Mexico. The FPU will be installed in a water depth of approximately 8,200 feet (2,500 meters) at the... Continue Reading →
Malaysian FPSO provider Yinson has signed contracts with Petrobras for the delivery, operation, and maintenance of the Marlim 2 FPSO. Yinson won two letters of intent from Petrobras in October 2019 for the charter and operation of the Marlim 2 FPSO for the Marlim revitalization project in Brazil. The company said at the time that the estimated... Continue Reading →
Technology in the oil and gas industry has been largely focused on digitizing processes and implementing Artificial Intelligence (AI) into the workflow. With the conclusion of another year, the next decade will continue to adopt even more changes with technology and expand on the tools already in place to make mobile field operations more efficient... Continue Reading →
March 27, 2020 Petróleo Brasileiro S.A.- Petrobras reports that has received the nomination of one more name for the Board of Directors. Thus, pursuant to the CIRCULAR LETTER/CVM/SEP/Nº02/2020, discloses the names of candidates nominated by the controlling shareholder, represented by the Federal Union, to the Board of Directors (BD) and Fiscal Council (FC), whose elections... Continue Reading →
