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(Reuters) - Brazil state-run firm Petrobras (PETR4.SA), opens new tab plans to bring oil production at its Tupi oil field back to 1 million barrels per day by 2027 as it plans new investments in the asset, its director for exploration and production said on Thursday. Located in deep waters offshore, Tupi is Brazil's largest oil field... Continue Reading →
Renewable energy innovator Inyanga Marine Energy Group has announced it is launching a crowdfunding round in partnership with Crowdcube. This round presents an opportunity to invest in Inyanga’s patented tidal energy technology, HydroWing. Tidal energy is a 100% predictable renewable energy source and one of the most reliable sources of renewable energy available. HydroWing aims... Continue Reading →
SBM Offshore announces it has completed the divestment of a 13.5% ownership interest in the special purpose companies related to the lease and operation of the FPSO Sepetiba to China Merchants Financial Leasing (Hong Kong) Holding Co., Limited (CMFL). This follows the announcement on February 10, 2022, of an agreement whereby CMFL would acquire its... Continue Reading →
(oilprice.com) Lower oil prices and production volumes failed to offset rising natural gas prices and output at Equinor, which reported on Thursday lower-than-expected adjusted operating income, its key earnings metric, for the third quarter. The Norwegian energy giant booked an adjusted operating income of $6.89 billion for Q3, down by 13% compared to the same period of... Continue Reading →
(Interesting Engineering) U.K.-based Beam recently launched AI-driven underwater vehicles capable of carrying out autonomous inspections of wind farms, as Interesting Engineering details. Offshore wind is a cutting-edge green energy source that is rapidly growing globally. The labor-intensive, costly, and lengthy inspections are ripe for innovation. That's where Beam, a deep tech company, is stepping in. Beam CEO Brian... Continue Reading →
(offshore-energy.biz) Norway-based energy data and intelligence company TGS has reported record-high ocean bottom node (OBN) contract activity in the third quarter of 2024, the first quarter including PGS, with the utilization of its streamer fleet improving on high bid activity. In Q3 2024, TGS said that the activity level within OBN acquisition was historically high, generating revenues... Continue Reading →
As of November, executive Olivier Bahabanian will become the new president of the company in the country, in addition to also assuming the position of general director of the company for the Exploration and Production business. He will replace Charles Fernandes, who has held these two positions since 2021. Olivier has almost 20 years of... Continue Reading →
(Reuters) - Saipem is about to start work on deep water drilling in Namibia for Portugal's Galp Energia , the chief executive of the Italian energy contractor said on Thursday. In early 2024 Galp carried out tests at its Mopane-1X and Mopane-2X wells and estimated in April that the Mopane field could hold at least 10 billion barrels of... Continue Reading →
(OM) Kongsberg Maritime will supply equipment for 10 new platform supply vessels (PSVs) under construction by Fujian Mawei Shipbuilding in China for Capital Offshore. Piraeus-based Capital Offshore, which owns and operates more than 100 vessels, has ordered the 95-m-long, MMC 897 CD-design PSVs for operations offshore Brazil. Each will feature an integrated electrical system, propulsion and... Continue Reading →
By Alex Kimani (oilprice.com) Over the past two decades, the shale revolution largely pushed aside interest in the exploration and development of offshore hydrocarbons. The combination of hydraulic fracturing and horizontal drilling enabled the United States to significantly increase its production of oil and natural gas from tight oil formations, with the Shale Patch accounting for 36% of... Continue Reading →
Brazil Energy Insight 