Italian oilfield services contractor Saipem returned to profit in the first quarter of 2019 from a loss in the prior-year period thanks to strong performance in the Offshore Engineering & Construction division. According to its financial report for the first quarter of 2019, Saipem’s revenues increased by 12.6% to €2.16 billion ($2.4B) in 1Q 2019... Continue Reading →

Brazil’s government will require a signing bonus of 106 billion reais ($26.9 billion) in an auction of exceeding oil from the pre-salt fields scheduled for Oct 28, Economy Minister Paulo Guedes said on Wednesday. Companies bidding would also have to compensate state-run oil company Petrobras for investments that Petrobras already made in the blocs. The... Continue Reading →

Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending. Schlumberger said net income fell to $421 million, or 30 cents per share, in the three months ended March 31, from... Continue Reading →

Rio de Janeiro, April 17, 2019 – A Petróleo Brasileiro S.A. – Petrobras informs that it has decided to increase the diesel price by R$ 0.10/liter, which implies a minimum variation of 4.518% and a maximum of 5.147% in its 35 points of sale in Brazil. This increase will be effective as of tomorrow, 04/18/19.... Continue Reading →

4/17/2019 Magni Partners presented the best offer for the purchase of the four drill ships of the group - Urca, Frade, Arpoador and Guarapari - with the proposal of US $ 250 million. However, as the price was well below the minimum value of $ 554 million, the result of the bidding will still have... Continue Reading →

April 17, 2019 The objective of the French oil company is to expand the production of the field in the pre-salt of the Santos Basin Scheduled this year, Lapa's new development campaign in the Santos Basin pre-salt will include drilling four wells in the field, Total told BE Petróleo. According to the company, the works... Continue Reading →

Oil major ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments and an affiliate of Qatar Petroleum won three exploration blocks during Argentina’s first offshore bid round. The award adds approximately 2.6 million net acres to its existing holdings in Argentina, which includes the onshore Vaca Muerta unconventional oil play and... Continue Reading →

Norwegian oil and gas giant Equinor has added seven offshore exploration blocks to its portfolio – five as the operator and two as a partner – after presenting winning bids in the 1st Offshore Licensing Round in Argentina. The bid round was arranged in Buenos Aires on April 16. Equinor submitted the winning bids for... Continue Reading →

Oil major Shell has executed an integrated services contract with U.S. oilfield services provider Halliburton for post-salt development and pre-salt exploration in Brazil’s Campos and Santos Basins. Under the contract, which includes a three-year term with a two-year extension, Halliburton will provide drilling services to drive greater efficiency by integrating multiple product offerings and technologies,... Continue Reading →

4/17/2019 The FPSO Cidade de Itajaí reached, in the last week, the mark of 100 million bopd produced in the field of Baúna, in the Santos Basin. Operated by the 50/50 Teekay-Ocyan joint venture, the FPSO was installed six years ago, in a water depth of 1 thousand m. According to ANP data, the city... Continue Reading →