Russian independent oil company Lukoil has started drilling its first exploration well at Block 12 located in the southern area of the Gulf of Mexico. Lukoil said on Monday that the Yoti West-1Exp well would be drilled by the Valaris 8505 semisubmersible rig, which was transported to Block 12 after its successful work at Block 10 on... Continue Reading →
Petrobras books Fugro for IRM services
Petrobras has awarded Fugro with a three-year contract for subsea inspection, repair and maintenance (IRM) services in Brazil. The contract is set to begin in Q4 2021 and will be carried out from Fugro Aquarius using two Fugro-built 3000-meter work-class remotely operated vehicles (ROVs). The award follows the completion of a previous four-year contract for similar services aboard the same vessel. During the... Continue Reading →
Petrobras on scheduled stoppage of Mexilhão and Route 1
Petróleo Brasileiro S.A. – Petrobras, following up the release disclosed on 06/04/2021, informs that the scheduled stoppage of 30 days for maintenance of the Mexilhão platform and the Route 1 gas pipeline, which transports the natural gas produced in Mexilhão and other platforms in the pre-salt and post-salt areas of the Santos Basin, will be... Continue Reading →
Wilson Sons participates in an unprecedented operation with a gas super tanker to supply thermoelectric power in Sergipe
Wilson Sons, through its Tugboats unit, participated in the first ship-to-ship offshore operation for the transfer of liquefied natural gas (LNG) through a ULGC (Ultra Large Gas Carrier) gas vessel of the Q-FLEX type in Brazil. The ship is considered one of the largest gas tankers in the world with a capacity of 215,000 m³.... Continue Reading →
Offshore Driller Vantage Posts Q2 Loss, but Wins Big in Qatar
Offshore drilling contractor Vantage drilling this week posted a net loss of $29 million in the second quarter of 2021, but its CEO was optimistic on the back of several important jack-up drilling rig contracts secured recently, especially in Qatar, almost doubling its backlog. “The second quarter represented more evidence that the industry is back... Continue Reading →
Pemex struggling to fund Zama oilfield it fought to control
(Bloomberg) --Pemex fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field. After taking operational control of the Zama megafield last month, the Mexican state-owned oil producer doesn’t have the nearly $2... Continue Reading →
Schlumberger withdraws from major oil conference amid rising COVID-19 cases
Reuters) - Top oilfield services firm Schlumberger NV (SLB.N) on Thursday said it had withdrawn staff from next week's Offshore Technology Conference (OTC), which typically attracts at least 60,000 attendees to Houston, citing the area's rise in COVID-19 cases. The annual exhibition and technical exchange for offshore energy equipment and service companies historically ranks among the 10... Continue Reading →
Rosneft second-quarter profit leaps on higher oil prices
(Reuters) - Russian oil producer Rosneft's (ROSN.MM) second-quarter net profit showed a fivefold increase from the same period last year, it said on Friday, citing recovering oil prices. Net profit surged to 233 billion roubles ($3.2 billion) while revenue doubled to 2.167 trillion roubles. Rosneft, which includes oil major BP (BP.L) among its shareholders, said that liquid hydrocarbon production... Continue Reading →
Report: PDVSA Set to Restart Production from Corocoro Offshore Oil Field
(OE) Venezuela's national oil company PDVSA is reportedly preparing to resume production from the Corocoro offshore oil field. Reuters said Thursday, citing people familiar with the matter, that PDVSA would use the Cororoco oil to feed its refineries. The Corocoro oil field, in which the Italian oil firm Eni is a partner as part of... Continue Reading →
Brazil leads global crude oil and condensate production from upcoming offshore projects in 2025, according to GlobalData.
(OM) Brazil is expected to contribute around 23% (1.3 MMb/d) of global crude oil and condensate production in 2025 from offshore projects coming onstream between 2021 and 2025, according to GlobalData. The company’s report, ‘Global Offshore Upstream Development Outlook, 2021–2025’, reveals that 1.16 MMb/d of crude and condensate production in Brazil in 2025 is expected from... Continue Reading →
