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Karoon signs LOI with TechnipFMC

January 29, 2021
| Archives

Australian oil company Karoon Energy announced on Thursday the plans for the acquisition of necessary equipment for the Patola field, in the Santos basin. The agreement was signed with TechnipFMC and provides for long-term items that will be used in the development of the asset. The information was disclosed in the company's financial and operating balance sheet for the

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O&G Industry seek to forge an alliance with corn growers and biofuel producers

January 29, 2021
| Archives

The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions. The effort to promote liquid fuels and combat expected federal subsidies for electric vehicles

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Will Bidens oil and gas drilling ban end offshore Gulf of Mexico work

January 29, 2021
| Archives

President Joe Biden’s temporary halt to drilling on federal lands leaves the vast majority of U.S. crude production untouched, though it may be the death knell for the Gulf of Mexico’s already dwindling output. Should the halt announced Wednesday become permanent, the U.S. would stand to lose as much as 200,000 barrels a day of output by the

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Petrobras plans to drill up to 58 wells by 2025

January 28, 2021
| Archives

Petrobras president Roberto Castello Branco said on Thursday morning (28) that the state company should increase its exploratory activity over the next few years. According to the executive, the company will drill up to 58 wells on the horizon by 2025. The number represents an increase of 50% in comparison with the five-year period from 2016 to 2020, according to

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Global oil demand to rise, boosted by vaccine distribution and economy

January 28, 2021
| Archives

Global oil demand is expected to rise by nearly 7% this year, boosted by quicker vaccine distribution and a better economic outlook, consultancy Wood Mackenzie said on Thursday. Total liquids demand is expected to average 96.7 million barrels per day (bpd) in 2021, 6.3 million bpd higher than last year when the Covid-19 pandemic caused an unprecedented oil

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Keppel exits offshore rig building business

January 28, 2021
| Archives

As part of the transformation, Keppel O&M will exit the offshore rig building business, and also progressively exit low value-adding repairs and other activities with low bottom line contribution. It will transit to a developer and integrator role higher up the value chain, focusing on design, engineering and procurement, with fabrication work subcontracted to third parties. Keppel

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Tullow mobilizing drilling rig to kick off ops in Ghana Q2

January 28, 2021
| Archives

Tullow issued an update and guidance in advance of the group’s full 2020 results It is noted under the 2021 outlook “A drilling rig is being mobilized to Ghana to commence operations in the second quarter of the year”. The last rig that was utilized by Tullow in Ghana was the Maersk Venturer which is currently listed as “Warm

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Vantage scraps the Titanium Explorer

January 28, 2021
| Archives

In November 2020, the Houston-based offshore driller Vantage Drilling reported a quarterly net loss of $169.3 million which included a non-cash loss on impairment charge of $128.9 million related to longer-term stacked drillship, the Titanium Explorer. The company was operating a fleet of five modern jackups and three ultra-deepwater drillships, the platinium Explorer, Tungsten Explorer and Titanium Explorer. The

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ADES signs up the Admarine 5 for 6 month gig

January 27, 2021
| Archives

ADES International Holding, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has secured a new contract for Admarine 5 in the Gulf of Suez. The contract, secured with a top-tier client, covers a firm six-month period with the option to extend for an additional six months, further strengthening

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Sete creditors refuses Petrobras deal, negotiations continue

January 27, 2021
| Archives

Petrobras, following up on the release disclosed on November 12, 2020, informs that it has received a notification from the Sete Brasil in which: (a) it indicates that will not comply with certain conditions set forth in the agreement that should be fully met by January 31, 2021; and (b) requests the beginning of a new negotiation

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