Aug 7, 2019 All conditions for the merger between TGS-NOPEC Geophysical and Spectrum have been fulfilled, and the parties have declared the transaction unconditional. According to Spectrum’s update, the first day of trading in combined company is set for August 15, 2019. TGS agreed the merger with Spectrum, creating a leading provider of 2D and... Continue Reading →
Brazil’s Petrobras studies sale of power plants, CEO tells brokerage
Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday. Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote... Continue Reading →
Worldwide offshore rig count in July up 45 rigs year-over-year
The worldwide offshore rig count in July 2019 went up by 10 units compared to June, and 45 year over year, according to monthly rig count reports by Baker Hughes, a GE company. BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The worldwide offshore... Continue Reading →
Oxy begins bond sale to fund Anadarko deal
Occidental Petroleum is selling bonds to help finance its $38 billion acquisition of Anadarko, as debt issuers show faith in Tuesday’s market rebound. Occidental is selling bonds in as many as 10 parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, may yield 2.7 percentage... Continue Reading →
Saipem Sonsub in Final Trials of Its Subsea Intervention Drone
Saipem-Sonsub’s Hydrone-R underwater intervention drone was recently launched in water to start the endurance and qualification tests prior to its commercialisation by year’s end. The Hydrone Program is the key workstream of Saipem’s Technology Development Plan within subsea robotics; a strategic move aimed at changing the paradigm of underwater inspections and interventions via a fleet... Continue Reading →
James Fisher snaps up Brazilian diving service provider
UK’s marine engineering services provider James Fisher and Sons has decided to acquire a 60% of the share capital of Continental Participação E Administração Ltda., the holding company of Serviços Marítimos Continental S.A. James Fisher said on Wednesday that the acquisition will be done for a total cash consideration of £7.5 million ($9.1M), where £4.9m is... Continue Reading →
New gas regulation for Rio de Janeiro ready in a few days, says undersecretary
Aug 6, 2019 Rio de Janeiro's new natural gas regulatory framework is expected to be "fully in place" within a few days, state oil and gas deputy secretary Cristina Pinho said on Monday. “We have been surgical at some points to make a strong connection with the changes being made by the federal government. In... Continue Reading →
Modec inaugurates new base of operations in Macaé
Aug 6, 2019 Modec inaugurated a new base of operations in the city of Macaé. The installation is a response from the company to the increased operational demand of its vessels in the Campos Basin and to business expansion projections for the coming years. Today, the company has 11 units in operation in the country,... Continue Reading →
Pemex takes another Borr jack-up for Mexico ops
Offshore drilling contractor Borr Drilling has been awarded another drilling contract by Pemex. As a result, Borr will have three of its jack-up rigs operating offshore Mexico for Pemex and four in total in the country. Back in March 2019, Borr revealed it had secured offshore drilling contracts for two of its jack-up rigs –... Continue Reading →
Peterson selected as logistics contractor for Repsol’s Guyana well
International energy logistics provider Peterson has been awarded a major contract with Repsol’s Guyana subsidiary for work on an offshore well. Peterson said on Tuesday that it was selected as the main logistics contractor for the Carapa-1 exploration and drilling project. The company will provide Repsol with integrated supply base operations management, logistics, and pipe... Continue Reading →
