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(MME) The National Energy Policy Council (CNPE) approved the technical and economic parameters for the Second Bidding Round for the Excessive Volumes of the Transfer of Rights of the Atapu and Sépia Fields. The parameters chosen are derived from robust studies that involve geophysical, geological, reservoir and economic modeling, followed by a multicriteria approach to... Continue Reading →
(TNPetroleo) The accumulated production since 2017, in the three contracts under a sharing regime, reached 50.4 million barrels of oil in February. The Mero Development Area was responsible for 68% of the production in the period. The total accumulated share of the Union's oil surplus has stood at 8.3 million barrels of oil since 2017.... Continue Reading →
Dutch offshore services provider Fugro has won a deal with offshore transportation and installation firm Jumbo Maritime to provide providing positioning and construction support services on the Mero 1 deepwater field development, offshore Brazil. Using its navigation suite and augmented reality camera system Fugro is supporting Jumbo in the installation of 35 subsea torpedo piles and... Continue Reading →
(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) today announced that it has been awarded a significant(1) subsea contract from Petrobras (NYSE: PBR) for the Marlim and Voador fields, located offshore Brazil. “We are very excited to bring new technology and automation capabilities to this project through the use of the RVC to operate the manifolds. Our innovations... Continue Reading →
Oilfield equipment and services provider Baker Hughes Co (BKR.N) top boss on Wednesday reiterated he is "cautiously optimistic" about oil demand recovering this year from the coronavirus blow, echoing a view he shared on the company's last earnings call. The company reported a 40% fall in first-quarter adjusted profit, compared to the fourth, as the pandemic's hit... Continue Reading →
(Reuters) Halliburton Co (HAL.N) on Wednesday reported a 6% rise in first-quarter adjusted profit from the previous three months, as a rebound in oil prices from pandemic lows fueled drilling activity and demand for oilfield services. Higher oil prices during the quarter boosted drilling, completion and production, which led to the rebound in demand for oilfield equipment... Continue Reading →
(Bloomberg) The head of Vitol Group, the world’s biggest independent oil trader, expects crude demand to come roaring back this year and next as the world emerges from the pandemic. Demand for crude will increase by 7 million to 8 million barrels a day by the end of 2022, up from current levels, and producers will... Continue Reading →
(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
Danish offshore drilling contractor Maersk Drilling has won a contract with Karoon Energy Ltd for the semi-submersible rig Maersk Developer to perform well intervention on four wells at the Baúna field offshore Brazil. Karoon took over Bauna from Petrobras in November 2020. The contract for the Maersk Developer is expected to start in the first... Continue Reading →
(Pulse) Korean shipyards enjoying a new heyday from revived commerce and oil activity have their hopes up for another windfall from offshore drilling facilities after years of inactivity. Korea Shipbuilding & Offshore Engineering Co. (KSOE) and Daewoo Shipbuilding & Marine Engineering Co. (DSME) are said to be bidding for a $4.6 billion worth order from... Continue Reading →
