Brought to you by Quest Offshore & Southern Cone Consultants
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 →
Health Alert U.S. Embassy Brasilia, Brazil March 28, 2020 Location: Brazil Event: On March 27, Brazil announced the closure of its borders, beginning on March 30, 2020 for 30 days, to individuals arriving by air who do not fall into one of the following categories: Brazilian citizens, born or naturalized Permanent residents of Brazil Foreign... Continue Reading →
Brazil’s central bank could soon be forced to fire up the money printing presses if the coronavirus-fueled recession facing Latin America’s largest economy is as devastating as some economists fear. Hopes for any growth this year have all but evaporated. Many observers expect Brazil’s $1.8 trillion economy to post its first annual contraction since 2016.... Continue Reading →
Mar 27, 2020 Petrobras will move ahead with its billion-dollar divestment plan, despite the scenario of falling oil prices and a supply shock, the president of the state oil company, Roberto Castello Branco, said on Thursday in a conference call with analysts and investors. The company has not received indications, so far, that there is... Continue Reading →
Kongsberg Maritime has completed the sale of its US-based underwater technology company Hydroid to Huntington Ingalls Industries (HII). The two companies entered into $350-million sale and purchase agreement in February this year. Back in 2007, Kongsberg Maritime acquired Hydroid for $80 million. In connection with the transaction, Kongsberg Maritime and HII have entered into a... Continue Reading →
Contrary to current trends of contract cancelations due to the oil price drop and coronavirus spread, seismic data acquisition company Magseis Fairfield has won a deepwater OBN project in the Mexican part of the Gulf of Mexico. Magseis said on Friday that the work was scheduled to begin in the third quarter of 2020 and... Continue Reading →
Offshore drilling contractor Valaris has received contract terminations for two rigs operating offshore Angola, one from Total and the other one from Chevron, but has also secured revenue backlog of $100 million. In an update on Thursday Valaris said it continues actively working to recover or replace the blowout preventer (BOP) stack on Valaris DS-8... Continue Reading →
Two new dive support vessels (DSV) operated by Belov Engenharia Ltda. have completed class commissioning and are currently performing client acceptance testing for Petrobras. Built at Belov's own fabrication facility in Salvador, the newbuilds Belov Amaralina and Belov Humaitá are of Robert Allan Ltd.'s RAlly 4000’s Class design, fitted with Dynamic Positioning System (DP2), four... Continue Reading →
Mar 26, 2020 Shell released the definitive bid for chartering the FPSO for the project to develop the production of Gato do Mato. Continuing the RFI (Request for Information) started in May 2019, with several technical alternatives for the unit, the oil company finally resolved on the production capacity of the unit it will produce... Continue Reading →
Norwegian energy intelligence firm Rystad Energy expects that majority of Africa’s top planned oil and gas projects that were expecting final investment decisions under an oil price assumption of between $55 and $60 per barrel will be hit hard by the current oil prices and coronavirus impact. "Now, with oil prices falling to below their... Continue Reading →
