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The temporary abandonment or suspension of a well is a vital early stage of decommissioning whereby the well is isolated using methods such as bridge plugs, cement squeezes and packers. This allows the wellhead and/ or blow out preventer (BOP) to be safely removed. For subsea mudline wells, temporary abandonment (TA) caps are fitted to... Continue Reading →
Dec 6, 2019 The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday it was too early to commit to a climate target and that energy companies had a range of thoughts on the matter. Asked if the firm would match a pledge similar to Spanish energy group Repsol's this week... Continue Reading →
Big oil companies operating in Mexico have launched a drive to convince leftist President Andres Manuel Lopez Obrador to resume auctions of oil and gas contracts he has branded a failure in reviving the industry. Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell Plc, among other firms in Mexico's Association of Hydrocarbon Companies (Amexhi),... Continue Reading →
AET Tankers, a subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad, has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity. Under the terms of the deal, AET will own and operate three newbuilding Suezmax Class dynamic positioning (DP) shuttle tankers for operations in international and... Continue Reading →
Suriname’s national oil company Staatsolie has completed its Nearshore Drilling Project in the country, which consisted of six wells, but failed to make a commercial oil discovery. Staatsolie said earlier this week that it had drilled six exploration wells as part of its nearshore drilling campaign. While no commercial oil discovery was made, valuable data... Continue Reading →
The worldwide offshore rig count in November 2019 increased by four units sequentially and 41 units year-over-year, according to Friday rig count reports by Baker Hughes Company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. Baker Hughes reported on Friday that the international rig count for... Continue Reading →
December 6, 2019 Concerned about the natural decline in the Campos Basin post-salt in contrast to the record highs in pre-salt production, Petrobras announced this week through its exploration and production director Carlos Alberto Pereira de Oliveira that it will invest 21 billion dollars for the next 4 years. The investments would aim to try... Continue Reading →
Dec 5, 2019 One of the most anticipated investments in oil and gas in Espírito Santo has been postponed for the next three years. The Parque das Baleias Integrated project had its start-up date postponed by Petrobras to 2023. Initially, the investment was announced for 2021 and had already been postponed to 2022. The new... Continue Reading →
Luminus, the investment advisor to funds and accounts that own approximately 18.7% of the equity of Valaris, on Wednesday issued a letter to Valaris shareholders expressing grave concerns regarding years of persistent strategic, operational and governance failures at the company and the immediate need to upgrade the board. Luminus expressed its view that Valaris’ stock... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore has signed contract extensions for two platform supply vessels (PSVs) with Equinor in Brazil. Solstad said on Friday that the contract extensions were awarded to the Far Scotsman and Sea Brasil vessels. The contract for Far Scotsman is extended by two years, while Sea Brasil is extended by one... Continue Reading →
