Multiple Subsea 7 vessels at work on major offshore projects

Subsea 7 has issued an update on its offshore oil and gas/wind projects in its latest results statement. The Subsea and Conventional business unit has been progressing engineering and procurement for the Sangomar, Barossa and Bacalhau oil/gas projects, and has started engineering for TPAO’s deepwater Sakarya gas project offshore Turkey. Offshore Norway, three of the company’s reeling vessels, Seven Vega, Seven Oceans, and Seven Navica, laid... Continue Reading →

November 18, 2021 0

Vallourec to Relocate Oil & Gas Ops to Brazil, Dispose of German Assets

French steel pipemaker Vallourec narrowed on Wednesday its full-year EBITDA guidance and said it plans to launch the disposal process for its German assets as well as relocate its oil & gas activities to Brazil. "Our German operations continue to underperform," Vallourec's chairman and CEO, Edouard Guinotte, said in a statement. Once the disposal program... Continue Reading →

November 18, 2021 0

Active fleet steers Subsea 7 quarterly figures forward

Subsea 7 has reported a revenue of $1.45 billion for the third quarter of 2021, up 53% year-on-year, said to be driven by the very high utilization of the active fleet. Overall, utilization of Subsea 7’s active fleet of 28 vessels was 94% in the third quarter, compared to 84% in the same period the... Continue Reading →

November 18, 2021 0

With Chapter 11 emergence in sight, Seadrill reveals new board members

Offshore drilling contractor Seadrill Limited has revealed its new board structure, including former Noble CEO and Subsea 7 CEO, as the company is preparing to emerge from the Chapter 11 bankruptcy, which started in February 2021. Seadrill said on Wednesday that a new, independent, seven-member board of directors will assume leadership of the new parent... Continue Reading →

November 18, 2021 0

Aker Solutions’ subsea production system for Mero 4

Aker Solutions has secured a contract with Petrobras to provide a subsea production system and related services for the Mero 4 project offshore Brazil. Aker Solutions will deliver a subsea production system consisting of up to 13 vertical subsea trees designed for Brazil’s pre-salt, including subsea distribution units, subsea control modules, and master control station for... Continue Reading →

November 18, 2021 0

US Gulf of Mexico Lease Sale Pulls in $191.6 Million

The Biden administration's auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any government offshore lease sale since early 2019. The Department of Interior auction came days after the U.S. joined a global agreement that for the first... Continue Reading →

November 17, 2021 0

Second Round of the Transfer of Rights has a total of 11 qualified companies

(TNPetroleo) The Second Round of Bidding for the Excess Volumes of the Transfer of Rights has 11 companies registered and is scheduled for Dec. 17th. Yesterday another company was approved by the Special Tender Committee (CEL): QP Brasil Ltda (Qatar Petroleo). Another ten companies are also eligible for bidding, having been approved at previous CEL... Continue Reading →

November 17, 2021 0

Climate policies should focus on demand as falling costs make new oil cheaper to produce, Rystad says

An analysis of the annual cost of supply by the Norwegian energy intelligence firm, Rystad Energy, has revealed that costs within the upstream sector have come down considerably in 2021, making new oil more competitive and significantly cheaper to produce. However, Rystad noted that climate policies may fail unless they focus on demand rather than... Continue Reading →

November 17, 2021 0

VIBRA ENERGIA WANTS TO SELL ES GAS IN THE FIRST HALF OF 2022

(PetroleoHoje) Vibra Energia (former BR Distribuidora) plans to sell the Espírito Santo government's stake in ES Gas, the disinvestment in the state distributor is scheduled for the first half of 2022, said the company's president, Wilson Ferreira Jr.. In September, the state government signed a contract with BNDES to carry out studies aimed at modeling... Continue Reading →

November 17, 2021 0

Vestas intends to be an important player in the Brazilian offshore wind energy market

(Valor) World leader in wind turbines, Danish Vestas intends to be an important player in the Brazilian offshore wind energy market. This new front has started to engage and should gain regulation by the end of the year. In an interview to Valor, the company's global CEO, Henrik Andersen, highlighted offshore wind and green hydrogen... Continue Reading →

November 17, 2021 0

Brazil Energy Insight

Multiple Subsea 7 vessels at work on major offshore projects

Vallourec to Relocate Oil & Gas Ops to Brazil, Dispose of German Assets

Active fleet steers Subsea 7 quarterly figures forward

With Chapter 11 emergence in sight, Seadrill reveals new board members

Aker Solutions’ subsea production system for Mero 4

US Gulf of Mexico Lease Sale Pulls in $191.6 Million

Second Round of the Transfer of Rights has a total of 11 qualified companies

Climate policies should focus on demand as falling costs make new oil cheaper to produce, Rystad says

VIBRA ENERGIA WANTS TO SELL ES GAS IN THE FIRST HALF OF 2022

Vestas intends to be an important player in the Brazilian offshore wind energy market

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