Brought to you by Quest Offshore & Southern Cone Consultants
Subsea Integration Alliance, a JV between Subsea 7 and OneSubsea, has been awarded an exclusive contract by Equinor for the Front End Engineering Design (FEED) study for the SURF (Subsea, Umbilical, Risers and Flowlines) on its Bacalhau (formerly Carcará) project, offshore Brazil. The awarded work is required to finalize the technical definition of the proposed field development... Continue Reading →
Royal Dutch Shell is cutting the pace of its vast $25 billion share buyback program after lower oil and natural gas prices halved its profit in the last three months of 2019, sending its shares to their lowest since July 2017. While the Anglo-Dutch energy company warned again that a slowing global economy could affect... Continue Reading →
Set to deploy 21 FPSOs by 2025, Brazil currently leads the world in offshore floating production development. As part of the Global Offshore Brazil Summit, in Rio de Janeiro March 4th and 5th 2020, Wood’s Chris Barton will lead an exclusive FPSO Focus speaker panel. Barton, senior VP of business development for Wood, will present on innovations... Continue Reading →
The AEO2020 Reference case, which serves as a baseline for exploring the effects of different assumptions about the economy, policy, and technology, projects renewables to be the fastest-growing source of electricity generation through 2050, driven by continued declines in the capital costs for solar and wind technologies. Slow growth in U.S. energy consumption, as a... Continue Reading →
January 29, 2020 - Petróleo Brasileiro S.A. - Petrobras reports that it has requested today its withdrawal from the Corporate Governance Program for State-Owned Companies of B3 (Program). Petrobras' adhesion to the Program took place on 08/08/2017. After that, the company continued to evolve in the improvement of its governance practices, having adhered to the... Continue Reading →
Mexico's state oil company Petroleos Mexicanos wants operational control over a major offshore oil area discovered by a consortium of private companies before development gets underway, its top official said on Wednesday. Pemex Chief Executive Officer Octavio Romero told a news conference the company believes most of the crude found by the consortium, in the... Continue Reading →
For any new offshore oil and gas project, calculating costs is key. Operators must assess both up-front capital expenditure (capex) as well as expected ongoing operational expenditure (opex) over the life of the project and weigh these figures against expected returns to ultimately determine if the development is financially viable. However, many companies don’t calculate... Continue Reading →
January 29, 2020 Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors, in a meeting held today, approved the appointment of Mrs. Maria Cláudia Guimarães for the position of member of the company's Board of Directors. This appointment will be submitted to the next General Shareholders' Meeting to be held. Mrs. Maria Cláudia... Continue Reading →
29 January 2020 Petróleo Brasileiro S.A. – Petrobras, further to the press release dated September 19, 2018, announces that the District Court of Rotterdam (the Court) today considered some issues and asked additional questions to the parties regarding the collective action filed by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and... Continue Reading →
January 29, 2020 Petróleo Brasileiro S.A. - Petrobras discloses that its proved oil, condensate and natural gas reserves according to SEC (US Securities and Exchange Commission) regulation were estimated at 9.590 billion barrels of oil equivalent (boe), as of December 31, 2019, as displayed in Table 1. Continue reading
