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Month: July 2020

History of the Weight Indicator

July 24, 2020
| Archives

Some history…is what it is, history but every now and then you read some things that bring the message home clearer than others. Take for example the history we are about to share in regard to the weight indicator and how far we have come as an industry. An industry that we are very proud to be part

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Petrobras disclose phase 2 rig qualifiers for Mero

July 23, 2020
| Archives

Constellation, Ocyan, Seadrill and Vallaris were qualified for the second phase of Petrobras' bidding for the chartering of one or more 2,400 m rigs for the Mero field, in the Santos cluster.  The companies presented the best proposals in phase I, with non-firm prices for the “as is” stage and will move forward… Source: Petroleo

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Weatherford bags two year contract with Argentina operator

July 23, 2020
| Archives

Weatherford International announced it has been awarded an exclusive two-year, $15M contract with a major independent operator in Argentina. Weatherford will provide 146 surface pumping units, including the Maximizer® II surface pumping unit and the Rotaflex® 2.0 long-stroke pumping unit. Both will be deployed in critical and challenging mature fields in Golfo San Jorge Basin to improve the operator's production efficiency and performance. "This award is

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Repsol writes down $1.5 bln

July 23, 2020
| Archives

Spanish oil and gas firm Repsol posted a quarterly net loss and wrote down $1.5 billion in assets on Thursday as it revised down unusually high expectations for oil and gas prices over the next 30 years. The demand-sapping COVID-19 crisis has piled pressure on a sector already battered by oil prices dragged down by tension between producing

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Tell us your COVID-19 story!

July 23, 2020
| Archives

Tell us your COVID-19 story! We are opening our doors for anyone in the industry that would like to share with us and our readers about their experience with the ongoing COVID-19 situation. The reason that we are asking for people in the industry to share with us their stories during this unprecedented time is to educate and learn

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Petrobras cancels mid-water drilling tender

July 22, 2020
| Archives

Since December, Petrobrás had been receiving bid proposals for the chartering of drill rigs for water depths up to 700 meters. But, after a few postponements, the company decided to cancel the tender, leaving a the companies that worked in the bids and invested funds to prepare the proposals frustrated and at a loss. Companies that have

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Santos to book up to $560 mln impairment on virus hit

July 22, 2020
| Archives

Australia’s Santos on Tuesday said it will book non-cash impairments of up to $560 million after tax, joining a number of global energy majors that have been forced to write down assets after a coronavirus-induced slump in oil prices. The country’s second-largest independent gas producer expects to record non-cash charges of between $490 million and $560 million after

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Eni looking to sell assets in Congo and Norway

July 22, 2020
| Archives

Eni SpA is looking to sell assets in Norway and the Republic of Congo as oil’s slump prompts companies across the industry to rein in spending, according to people with knowledge of the matter. In Norway, Eni’s majority-owned Var Energi AS hopes to sell the Jotun floating production, storage and offloading vessel, or FPSO, the people said, asking

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Record breaking lift performed by the Sleipnir at the Jotun Field

July 22, 2020
| Archives

In the Norwegian North Sea, Sleipnir successfully removed the 8100 mT Jotun-B jacket for client Vår Energi. The platform was installed in 1998 by Heerema's Thialf, who returned to the Jotun Field last year to remove the topsides and conductors - demonstrating the circularity of Heerema's involvement in the lifecycle of these now retiring platforms. What we put

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78.8 million acres up for lease in Gulf of Mexico

July 21, 2020
| Archives

The Bureau of Ocean Energy Management (BOEM) proposes to offer approximately 78.8 million acres for a region-wide lease sale scheduled for November 2020. Lease Sale 256, scheduled to be livestreamed from New Orleans, will be the seventh offshore sale under the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.  Lease Sale 256 will include approximately 14,755 unleased

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