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Norwegian oil and gas operator Aker BP and software company Cognite have entered into a strategic initiative to explore how robotic systems can be used to make offshore operations safer, more efficient, and more sustainable. Cognite and Aker BP will do several tests using robots and drones on the Aker BP-operated Skarv installation in the... Continue Reading →
February 11, 2020 Petróleo Brasileiro S.A. – Petrobras informs about a favorable arbitration award to the company, which rejected a claim made by an investor in Sete Brasil Participações S.A. (in reorganization), in arbitration proceedings seeking compensation from Petrobras for alleged damages related to their investment in the Sondas Project. Due to the favorable outcome... Continue Reading →
FEB 10, 2020 The National Petroleum Agency (ANP) will hold the signing ceremony for the 16th Bidding Round and the 1st Permanent Bidding Cycle next Friday (14). The event will take place at the their central office, in Rio de Janeiro, from 11 am and marks the beginning of expectations for new investments in the... Continue Reading →
Guyana is aiming to complete talks with the Exxon Mobil Corp-led consortium producing oil off its coast over crude pricing, lifting costs, and scheduling before the government exports its first cargo, energy director Mark Bynoe said on Monday. Exxon Mobil and partners Hess Corp and China's CNOOC Ltd inaugurated oil output in December at the... Continue Reading →
Brazil's Petrobras hit a new production record in the fourth quarter, of over 3 million barrels of oil equivalent per day (boepd), thanks largely to the ramp-up of platforms in the prolific pre-salt formation, the state-run oil firm said on Monday. In a securities filing, Petroleo Brasileiro SA, as the company is formally known, said... Continue Reading →
Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending. The downturn was the worst to ever hit the offshore sector. Orders for... Continue Reading →
The coronavirus epidemic in China has triggered restrictions in the country’s public transport and air travel, both at a domestic and an international level, reducing demand for oil, which has lost about a fifth of its value since the start of the year, according to a latest report by Norwegian energy intelligence firm Rystad Energy. ... Continue Reading →
Aquaterra Energy, a provider of offshore engineering solutions, has secured a “significant” agreement from Chevron to design and support the installation of the Sea Swift offshore platform solution off the coast of Angola. Aquaterra said on Tuesday that the deal from Chevron was awarded through the oil major’s wholly-owned subsidiary in Angola – Cabinda Gulf... Continue Reading →
Houston-based subsea engineering company Oceaneering has been awarded a contract for comprehensive riserless light well intervention (RLWI) services offshore Angola in Blocks 18 and 31 by oil major BP. Oceaneering said on Monday that the value of this award was reflected in the company’s December 31, 2019, subsea products backlog. In connection with this contract,... Continue Reading →
Oilfield services provider TechnipFMC expects $2.4 billion of non-cash asset impairment charges to impact its results in the fourth quarter of 2019. The company said on Monday that it anticipates for the full year 2019 revenues to approach the guidance mid-point of $13.5 billion. The company expects adjusted EBITDA margin for all segments to meet... Continue Reading →
