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(OE) Frontera Energy Corporation, in partnership with CGX Energy, said Tuesday it had reached total depth (TD) of 20,450' on the Wei-1 bypass exploration and appraisal well (Wei-1BP1), offshore Guyana. The original Wei-1 wellbore reached a depth of 19,142'. A bypass well (Wei-1BP1) was drilled from 18,757' to total depth (TD) and penetrated the primary... Continue Reading →
(PH) Angelica Ruiz took charge of bp in Brazil just three months ago, but she already has a lot of work ahead of her. The executive, who accumulates the position of VP of Latin America, has the challenge of leading the operation of a company that, present in the country since 1957, operates in the... Continue Reading →
(OP) For nearly two decades, South America’s largest economy Brazil has been reaping a tremendous economic windfall from a massive oil boom that kicked off with the first offshore ultra deep-water pre-salt discovery in 2006. The boom nearly collapsed as corruption, mismanagement and malfeasance saw national oil company Petrobras laden with so much debt it was almost... Continue Reading →
(OET) Total E&P do Brazil, a subsidiary of France’s energy giant TotalEnergies, has exercised a contract extension with Norway’s shipping company Siem Offshore for two platform supply vessels (PSVs) carrying out operations off Brazil. According to Siem Offshore, a 12-month option has been exercised for PSVs Siem Atlas and Siem Giant for continued operations offshore Brazil. This enables both... Continue Reading →
(OE) In a Westwood survey on offshore wind cost inflation, nearly three-quarters of industry players indicated that they had started reviewing the viability of their projects in light of recent cost increases, with over 90% indicating that decision-making had slowed as a result. The survey and market analysis by Westwood explores the impact of inflation... Continue Reading →
(Reuters) - Minority shareholders of Siemens Gamesa on Tuesday approved a capital reduction for the remaining 2.21% stake parent Siemens Energy (ENR1n.DE) does not already own, paving the way for a full integration of the Spanish-based wind turbine maker. "This is an important step in preparing for full integration. Besides, the turnaround program at Siemens Gamesa, Mistral,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the press releases published on 03/01/2023 and 04/27/2023, informs that it will pay, on Friday, 06/16/2023, the second installment of the complementary dividends referred to the 2022 fiscal year, based on shareholding position as of 04/27/2023, in connection to the Material Fact released on that date. The... Continue Reading →
The drillship DS-17, owned by Valaris, arrived off the coast of Rio de Janeiro to begin its exploratory campaign in the Bacalhau field, in the Santos Basin. This will be the second exploratory rig in operation in the field – the first of which, West Saturn, began activities in November last year. The DS-17 is... Continue Reading →
(OE) Green hydrogen specialist Lhyfe and Spanish company Capital Energy have signed a collaboration agreement for the joint development of offshore renewable hydrogen projects in Spain and Portugal. The two companies will work to create hydrogen production sites at some of the offshore wind farm sites currently being developed by Capital Energy. Capital Energy has... Continue Reading →
Active floating drilling rig utilization has rebounded from a low of 65% in 2018 to over 85% in 2023, energy intelligence group Wood Mackenzie said Monday, adding that the growth in demand and rates could even spur construction of new offshore rigs. "According to Woodmac, the number of contracted ultra-deepwater (UDW) benign rigs has returned... Continue Reading →
Brazil Energy Insight 