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Month: December 2021

ConocoPhillips announces Indonesia sell off and 2022 capex budget of $7.2 billion

December 8, 2021
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ConocoPhillips announced that it would be selling its Indonesia assets for $1.355 billion to MedCo Energi on the heels of its preliminary 2022 capex budget note to the public. Highlights of that announcement are below: Planned companywide 2022 capital expenditures of ~$7.2 billion The planned capital includes ~$0.2 billion for Scope 1 and 2 emissions-reduction projects across the company’s global

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Petroserv wins lot 2 tenders for Petrobras

December 7, 2021
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According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Petrobras announced Ventura Petroleo S.A. (Petroserv) as the winner of the 2nd and 3rd rig for lot 2 - unit without MPD. The company offered in the 6th Gen. drillship DS Carolina and 6th Gen. Intl. semi SSV Victoria. Both

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SHI lands $621 million LNG carrier deal

December 7, 2021
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Samsung Heavy Industries Co. said Tuesday that it has bagged two orders worth a combined 734 billion won (US$621 million) to construct three liquefied natural gas (LNG) carriers. With the latest deals, Samsung Heavy Industries has won orders worth a cumulative $11.8 billion so far this year, exceeding 30 percent of its annual order target of $9.1 billion,

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SHI unloads another stranded newbuild drillship

December 7, 2021
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Samsung Heavy Industries has found a buyer for an unwanted high-spec drillship that was canceled three years ago.  Long-defunct driller Ocean Rig ordered the ultradeepwater drillship Ocean Rig Crete back in 2014, with delivery scheduled in three years. When oil prices plummeted in 2015, the company delayed the rig's delivery by another year, citing deteriorating market conditions.  The market did not

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$15.5 billion gas pipeline deal is one of world’s largest infrastructure deals

December 7, 2021
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Saudi Arabian Oil Company ('Aramco') has signed a $15.5 billion lease and leaseback deal involving its gas pipeline network with a consortium led by BlackRock Real Assets and Hassana Investment Company, the investment management arm of the General Organization for Social Insurance (GOSI) in Saudi Arabia, in one of the world’s largest energy infrastructure deals.   This represents significant progress in Aramco’s asset optimization program and is

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FAR Ltd issues update on Bambo-1

December 7, 2021
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FAR Ltd has advised that the Bambo-1 well has drilled 3216m MDBRT (measured depth below the rotary table) of a total planned depth of 3450m MDBRT. Oil indications have been detected in rock cuttings and hydrocarbons have been interpreted across several intervals in the well from LWD data (logging whilst drilling). Further wireline logging needs to be completed to confirm the finding. Drilling operations were temporarily

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ExxonMobil readies Sergipe spud in

December 6, 2021
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ExxonMobil intends to start in December the drilling of its first exploratory well in Sergipe, at the SEAL-M-428 block, which will also extend to the neighboring area of SEAL-M-351. The oil company, which already has the rig ready to carry out the work, is just waiting for the release of the environmental license to start the campaign. Drilling

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Petrobras 19 platform maintenance contract signed with Ocyan and others

December 6, 2021
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GranIHC, Ocyan and Sisnergy will sign contracts with Petrobras for maintenance and integrity services of 19 platforms in the Campos Basin. The deal is the result of the oil company’s mega-bid, divided into four lots, the total value of which is R$ 1.97 billion. The signing of contracts should take place this week. GranIHC will be responsible for

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