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Australia’s Karoon has taken the Final Investment Decision to proceed with the development of the Patola project located offshore Brazil. Following the first production, expected in 2023, the project will more than double Karoon’s current production rates. The Patola field is located within the 100 per cent Karoon-owned and operated BM-S-40 Production Licence in the Santos Basin,... Continue Reading →
Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development. The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday. The development of the field located in the Santos Basin will cost around $8 billion.... Continue Reading →
Oil and gas company Karoon Energy has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the Maersk Drilling-owned semi-submersible rig Maersk Developer. The work is expected to start in the second half of 2022, in direct continuation of the rig’s previously... Continue Reading →
(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) today has been awarded its first integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract in Brazil by Karoon Energy (ASX:KAR) for the Patola field development. The contract covers engineering, procurement, construction and installation of subsea trees, flexible pipes and umbilicals. The project will take place at water depths of 300 meters... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the pricing of global notes denominated in U.S. Dollars (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). The Notes will be unsecured obligations of PGF and will be fully and unconditionally guaranteed by Petrobras. Closing is expected to occur on June 10,... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in compliance with the terms of the Instruction No. 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general, in addition to the material fact published by the Company on May 27, 2021,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire 27.88% stake in Deten Química S.A. (Deten), located in the Camaçari industrial complex, in the state of Bahia. The teaser, which includes key information about the opportunity, as well as the eligibility criteria for... Continue Reading →
Top oilfield service provider Schlumberger NV (SLB.N) on Wednesday estimated 2021 revenues would top $22.5 billion, as oil and gas prices recovered and the company tapped into a growing market for low-carbon technology. The company expects 2021 adjusted EBITDA margins of between 20.8% and 21.3%, according to a conference presentation, and free cash flow margins over 10%.
(OE) Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals. More of the $1.9 trillion in investment is projected to shift toward electricity than... Continue Reading →
(Reuters) A landmark lawsuit filed against Guyana's government, arguing that oil production fuels climate change, could bolster legal action as court cases involving energy companies and state authorities surge, according to lawyers and environmentalists. The constitutional claim - the first of its kind in the English-speaking Caribbean - asserts that oil exploration and production led... Continue Reading →
