Brought to you by Quest Offshore & Southern Cone Consultants
Brazil’s Supreme Court decided on Thursday to end the mandatory imprisonment of convicted criminals after they lose their first appeal, a politically charged ruling that may lead to the release of former leftist President Luiz Inacio Lula da Silva. The reinterpretation of Brazil’s penal code, allowing convicts to exhaust their appeal options before being locked... Continue Reading →
SBM Offshore announced on Thursday that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the company contracts to perform front end engineering and design (FEED) for a third floating production, storage and offloading vessel (FPSO) in Guyana. The FPSO, to be named Prosperity, will be designed to produce 220,000 barrels of oil... Continue Reading →
Marine seismic pricing is continuing to strengthen and the Ocean Bottom Node market is the place to be, the Norwegian seismic company SeaBird Exploration said Thursday. Seabird on Thursday reported third-quarter results with a 196% increase in revenues year-over-year. Revenues were $16 million, up from $5.4 million a year ago. SeaBird’s 3Q loss, however, deepened... Continue Reading →
The worldwide offshore rig count in October 2019 decreased by two units sequentially, but increased by 37 units year-over-year, according to reports by Baker Hughes Company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. Baker Hughes reported on Tuesday that the international rig count for October... Continue Reading →
Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA (PETR4.SA). The only block awarded in Thursday’s bidding went to the Brazilian oil firm, known as Petrobras,... Continue Reading →
For the second day, state-controlled energy giant Petrobras led the sole bid as major foreign producers sat out an auction of Brazilian oil deposits. Petroleo Brasileiro SA, as the company is also called, made a successful joint bid with China National Oil & Gas Exploration & Development Co. for the Aram block in Thursday’s sale... Continue Reading →
November 7, 2019 Petróleo Brasileiro S.A. – Petrobras reports that, as part of the competitive process for divestment of its entire shareholding in Liquigás Distribuidora S.A., the group comprised of Copagaz, Itaúsa and Nacional Gás Butano submitted the best final offer for the company’s acquisition, in the amount of R$ 3.7 billion. The transaction will... Continue Reading →
Brazil’s state-run Petrobras and CNODC, a unit of China National Petroleum Corp, were awarded rights to explore and produce oil at the Aram block in the country’s Santos basin by offering the minimum allowed profit oil of 29.96 percent. This was the only bid of the 6th Pre-Salt Round. The other blocks did not recieve... Continue Reading →
UK subsea engineering, construction, and services company Subsea 7 saw a decrease in revenues in the third quarter of 2019 due to lower activity levels in the Renewables and Heavy Lifting business and a smaller profit due to lower pricing and competitive market environment. Subsea 7 on Thursday posted revenues of $951 million for the... Continue Reading →
U.S. oil company Talos will have a formal resource report on its large Zama oil discovery offshore Mexico by the end of the year. Talos made the discovery in 2017 – one of the largest shallow-water finds in decades – and has during the summer completed the appraisal program at the field aimed to better... Continue Reading →
