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Brazilian SM Continental, part of James Fisher group, has won a contract to provide ROV services to oil and gas company Petrobras. The two parties signed the agreement for a period of two years. “These new services and the growing customer base mean that the James Fisher group now has a well-established subsea services company in... Continue Reading →
Offshore drilling contractor Vantage Drilling believes that the shallow water activity is stabilizing and that the recovery in the deepwater market could begin later this year. The rig owner has also sold one of its stacked drillships for recycling. In its quarterly report on Thursday, Vantage revealed it had sold its 2012-built Titanium Explorer drillship and booked... Continue Reading →
Seadrill Ltd on Wednesday reached a tentative deal that will allow it to continue using lender cash to fund operations while it works with creditors on a path out of bankruptcy. During a virtual hearing, U.S. Bankruptcy Judge David Jones, sitting in his Laredo, Texas courtroom, said he would extend Seadrill’s access to cash until... Continue Reading →
Petrobras received the environmental license to carry out 4D maritime seismic survey in the Sapinhoá field, in the Santos Basin pre-salt. In the installation part of Nodes (seismic sensors installed on the seabed), the Subsea Viking vessel will be used. In addition, one of the following seismic source vessels will also be employed: Hugin Explorer,... Continue Reading →
Subsea 7 has reported an adjusted EBITDA increase of 50 per cent in the first quarter of 2021, to $102 million, compared to $68 million from the same period in 2020. According to Subsea 7, the mentioned boost is driven by progress on Subsea and Conventional projects, high utilization of the PLSVs, and activities on... Continue Reading →
(Reuters) Petrobras has reopened bidding for its Golfinho offshore oilfield cluster, two sources told Reuters this week, following a rise in crude prices over the last several months. Golfinho is one of dozens of legacy production assets that Petroleo Brasileiro SA, as the firm is formally known, is selling to reduce debt and sharpen its... Continue Reading →
BW Energy, an Oslo-listed oil firm, said Thursday that the drilling of the Hibiscus Extension appraisal well DHIBM-2 in the Dussafu Marin license in Gabon had fallen short of expectations, hitting water instead of oil. "The primary objective of the well was to test the northern extension of the Gamba Sandstone reservoir of the Hibiscus... Continue Reading →
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday. Its updated models show renewables meeting 74% of total energy demand by 2050, compared to 43%, 45% and 69% in the most aggressive... Continue Reading →
South Korean shipbuilder Hyundai Heavy Industries Co Ltd applied for preliminary approval for an initial public offering, Korea Exchange said on Thursday. The company, currently wholly owned by Korea Shipbuilding & Offshore Engineering, was separated from Korea Shipbuilding in 2019. Hyundai Heavy reported a 2020 operating profit of 32.5 billion won on revenue of 8.3 trillion, Korea... Continue Reading →
French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO. The Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40,000 barrels of oil per day by mid-2022. Located in water depths from 600... Continue Reading →
