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(Oil Now) Cost recovery for investments into the Stabroek Block petroleum operations are set to accumulate to approximately US$31 billion by the end of 2024. The Stabroek Block Production Sharing Agreement, inked by the Guyana government, ExxonMobil, Hess and CNOOC, allows the co-venturers to recover investments by taking up to 75% of annual production as... Continue Reading →
Wendy Laursen, Contributing Writer There is a flurry of development underway to cut seafloor seismic and geotechnical survey technologies free from on-site control. (OE) The deeper you go, the quieter the ocean becomes. It’s something that Kyrre Tjøm is exploiting in his back-to-basics approach to ocean bottom nodes (OBNs). Like his competitors, the CEO and Founder of iDROP, is... Continue Reading →
(Zack's) ExxonMobil Corporation XOM has started appraisal activities at the Lau-Lau 2 well site, in the Starbroek block, offshore Guyana. Previously, in 2022, ExxonMobil had discovered 96 meters of high-quality sandstone reservoirs containing hydrocarbons at the Lau-Lau 1 exploration well site. The announcement was made by Guyana’s Maritime Administration Department (“MARAD”). MARAD also mentioned that the... Continue Reading →
(Zack's) Petrobras PBR, a Brazilian oil and gas company, in partnership with Colombia-based integrated oil and gas company Ecopetrol S.A. EC, has commenced the drilling of the Uchuva-2 well in the Tayrona block, located offshore Colombia’s Caribbean coast. This move is part of a broader strategy to boost Colombia's natural gas reserves and enhance the country's energy security.... Continue Reading →
(offshoreWIND.biz) Germany’s Federal Network Agency has awarded 2.5 GW of offshore wind across two areas in its latest auction that saw two bidders collectively pay EUR 3 billion for the opportunity to develop in the North Sea. EnBW has secured the 1 GW N-12.3 area in the German North Sea. The company won the site at... Continue Reading →
(Reuters) - Ecuador's state oil company, Petroecuador, has declared force majeure over deliveries of Napo heavy crude for exports following the shutdown of a key pipeline and oil wells due to heavy rains hitting the country, sources said on Friday. Intense rains over the weekend forced the shutdown of three hydroelectric plants, the suspension of... Continue Reading →
Oil major Chevron and Equatorial Guinea’s state-owned oil company GEPetrol have signed two production sharing contracts (PSCs), for offshore blocks EG-06 and EG-11 in Equatorial Guinea, representing a $2 billion investment. Situated in close proximity to producing Block B which houses the Zafiro field, the blocks are considered to be highly-prospective and are poised to... Continue Reading →
(OE) Norwegian offshore vessel operator DOF Group has secured two long-term contracts with Petrobras for its Pipelay Support Vessel (PLSV) and the Anchor Handling Support vessel (AHTS). The Brazilian built and flagged PLSV Skandi Niterói is awarded a three-year firm plus option contract, starting in 2025. The vessel is owned by DOFCON Navegação, a joint... Continue Reading →
Petrobras, Gerdau, and Naturgy have signed contracts for the supply of natural gas in the free market environment to serve Cosigua, Gerdau's long steel production unit located in Rio de Janeiro (RJ). The agreement marks the first migration of a captive industrial market customer to the free market in the State, making the company's plant... Continue Reading →
(offshoreWIND.biz) California-based floating wind technology developer, Aikido Technologies, has secured USD 4 million (approximately EUR 3.7 million) in seed funding to advance its platform technology and establish pilot projects. The financing was led by Azolla Ventures with participation from Propeller Ventures, Sabanci Climate Ventures, Cisco Foundation, Anthropocene Ventures, and others. Aikido said that it will... Continue Reading →
Brazil Energy Insight 