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Petróleo Brasileiro S.A. - Petrobras announces that it has approved, together with its partners Equinor and Repsol Sinopec Brasil, the development concept for block BM-C-33, operated by Equinor, located in the pre-salt layer of the Campos Basin, in the state of Rio de Janeiro. The block is about 200 km offshore and has water... Continue Reading →
3R Petroleum Oil and Gas recorded a loss of R$ 147.5 million in the fourth quarter of last year. With the result, the company recorded a total net loss of R$ 172.3 million in 2020. With regard to net revenue, the company recorded R$ 85.2 million in the fourth quarter, with a value of R$... Continue Reading →
Oil and gas company Tullow Oil has encountered good quality reservoir but only minor oil shows at its exploration well located offshore Suriname. Tullow started drilling operations at the Goliathberg-Voltzberg North prospect (GVN-1) located in Block 47 in late January 2021. Block 47 is part of the Suriname-Guyana Basin. The well was drilled using the Stena Forth drillship.... Continue Reading →
Offshore drilling contractor Vantage Drilling managed to cut its losses in the last quarter of 2020 when compared to the same period in 2019 despite lower revenues but went from black to the red on a yearly basis. Vantage on Thursday reported a net loss attributable to controlling interest of approximately $44.9 million for the... Continue Reading →
DDW Offshore, an Akastor subsidiary, has entered into bareboat charter agreements with OceanPact Servicos Maritimos for two vessels for a period of 26 months. In addition, OceanPact will buy the vessels once the charters end. OceanPact is a Brazilian subsea and logistic company. The vessels in question are Skandi Saigon and Skandi Pacific. They are both anchor handling... Continue Reading →
Norwegian offshore vessel owner DOF has won long-term contracts in the UK and Guyana for three of its platform supply vessels. In the UK, under the contract starting in April, the large PSV Skandi Gamma will work for Ithaca Energy for a period of two years firm. Ithaca will also have two one-year options to... Continue Reading →
Norway-based TMC Compressors has been awarded a contract to deliver a large marine compressed air system for the Brazil-bound FPSO Anita Garibaldi. The FPSO - to be delivered by Japan's MODEC in 2022- will be deployed at Petrobras' Marlim field in the Campos Basin. TMC will deliver a large marine compressed air system to FPSO... Continue Reading →
This initiative seeks to promote innovation and development in the Brazilian port and maritime sector Wilson Sons, the largest integrated port and maritime logistics operator in Brazil, acquired a minority equity participation at Docktech, an Israeli startup. The deal also contemplates a commercial exclusivity agreement to install Docktech's technology throughout Brazilian ports. This new investment is... Continue Reading →
In February 2021, Brazilian oil and natural gas production in the Pre-salt was approximately 2.6 million barrels of oil equivalent per day (boe / d). This volume represented 73.14% of the total in the country, the highest percentage of Pre-salt participation in national production ever recorded. Total Brazilian production was 3.55 million boe / d.... Continue Reading →
(Bloomberg) Vitol Group reaped record profits of around $3 billion last year as the world’s largest independent oil trader surfed the dramatic moves in energy markets, according to people familiar with the matter. The results are the latest indication of the bonanza that oil traders enjoyed in 2020, when the commodity plunged amid a Saudi-Russian price war in... Continue Reading →
