Brought to you by Quest Offshore & Southern Cone Consultants
Offshore drilling contractor Transocean reduced its quarterly losses despite lower revenues and is encouraged by the current upcycle in the offshore drilling market, expecting rig utilisation and day rates to improve moving into the next year. Transocean reported a similar sentiment in its 1Q 2021 financial report back in May 2021 when the rig owner... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 01, 2021, informs the beginning of the binding phase regarding the sale of 100% of its interest in the PAR-T-175_R14, PAR-T-198_R12, and PAR-T-218_R12 Concessions, located onshore in the Paraná Basin. Potential buyers qualified for this phase will receive a process letter with... Continue Reading →
Dutch FPSO provider SBM Offshore has signed a letter of intent with Petrobras for a 22.5 years lease and operate contracts of FPSO Alexandre de Gusmão for deployment in Brazilian waters. The Libra consortium partners have also made a final investment decision (FID) for the project. The unit will be deployed at the Mero field... Continue Reading →
Shell courts multiple suitors for its $10B Permian shale portfolio (Bloomberg) --Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron Corp. is also among companies considering... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
According to Jim McCaul, Managing Director at IMA/World Energy Reports, Guyana has a huge appetite for FPSOs. Here's a brief 'by the numbers' look: The Stabroek Block covers 26,800 sq km containing multiple prospects and playsThere are 20+ discoveries to date with 9 billion boe estimated recoverable resourcesUp to 10 VLCC-size FPSOs are expected to... Continue Reading →
Subsea engineering, construction and services company Subsea 7 has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating Solutions S.L. a developer of technology for the floating wind market based in Bilbao, Spain. According to Subsea 7, Nautilus has developed a promising concept for a floating wind foundation based... Continue Reading →
Italian oil company Eni has made an oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10 in the mid-deep water of the Cuenca Salina Sureste Basin, offshore Mexico. According to preliminary estimates, the new find may contain between 150 and 200Mboe in place, Eni said on Monday. Sayulita-1 EXP, which... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras regarding the pieces of news published in the press clarifies that as a result of its strategy and commitment to generating value, in 2021, it has already distributed R$ 10.3 billion in dividends, of which R$ 3 billion were assigned to its controlling shareholder. Additionally, from January to June 2021,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to execute... Continue Reading →
