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(OE) CGX Energy and Frontera said Monday they'd focus on their Corentyne block in Guyana in 2022 fully, and not engage in drilling activities on the Demerara block at all. The partners said their decision was based on the positive results from the Kawa-1 offshore well, and the significant exploration opportunities in the Corentyne block.... Continue Reading →
(OM) TGS says it can now provide access to derivative standardized well data from ~6,500 wells in Brazil’s offshore basins. TGS-enhanced data such as standardized digital logs (LAS, LAS+, Mud LAS, Lith LAS), validated well headers, quality-controlled directional surveys and other available derivatives will be licensed and delivered to customers through its cloud-based R360 Platform. This data... Continue Reading →
(WO) — A proposal to abruptly end oil and gas exploration in Colombia would lead to higher prices for local consumers and be challenged in court, according to the country’s state-run driller. Gustavo Petro, the leading candidate ahead of presidential elections in May, is looking to speed up Colombia’s transition to clean energy by ceasing... Continue Reading →
Amid the improving market conditions and increasing demand, the Norwegian offshore vessel owner, Solstad Offshore, has inked a new deal for one of its subsea construction support vessels (CSVs) with the Brazilian oil and gas giant Petrobras, which will allow the vessel to operate offshore Brazil. Solstad Offshore announced the contract award for the CSV Normand Valiant with... Continue Reading →
(OE) FPSO leasing company BW Offshore has decided to record an impairment to the book value of the FPSOs BW Athena, Espoir Ivoirien, Sendje Berge, Petróleo Nautipa and Umuroa amounting to $66.6 million in the fourth quarter of 2021 as well as $23.8 million for the loss on the sale of the Joko Tole FPSO.... Continue Reading →
(OE) French energy industry giant TotalEnergies has partnered with the Norwegian company Semar in the development of the innovative Honeymooring solution, which, according to TotalEnergies, will contribute to lowering the floating wind costs and reducing seabed footprint. TotalEnergies said that floating offshore wind turbines have removed the depth constraints but raised the challenge of cost-effective,... Continue Reading →
(Reuters) - European banks are providing billions of dollars of funding to expand oil and gas production, a report on Monday showed, despite International Energy Agency guidance against new facilities in order to slow global warming. Last year, 25 of the region's leading banks collectively provided $55 billion to energy companies planning to expand oil... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) has bet billions of dollars on offshore drilling in Brazil, an area it once abandoned and now sees as key to its future. But five years into its comeback, the U.S. oil giant has yet to make a major oil discovery as an operator in Brazil's waters and has let opportunities... Continue Reading →
SBM Offshore is pleased to announce that FPSO Liza Unity has produced first oil as of February 11, 2022 and is formally on hire. The FPSO Liza Unity is the first unit with a design based on SBM Offshore’s industry leading Fast4Ward® program which incorporates the Company’s new build, multi-purpose floater hull combined with several... Continue Reading →
(Reuters) - Oil prices ended 3% higher on Friday at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies. Russia has massed enough troops near Ukraine to launch a major invasion, Washington said, as it urged all U.S. citizens... Continue Reading →
Brazil Energy Insight 