Ecuador hopes to hold at least four auctions in 2022 to award oil blocks and the operation of Esmeraldas, its largest refinery, to private companies as it seeks to pull in billions of dollars in investments, Energy Minister Juan Carlos Bermeo said on Friday…
Brazilian oil company Petrobras has awarded Italy's Saipem a new contract worth $940 million for the delivery of subsea umbilicals, risers, and flowlines (SURF) for the installation of a rigid riser-based subsea system for a project offshore Brazil…
Brazilian oil company Petrobras has said it has identified the presence of hydrocarbons in a pioneer well in the Aram block, in the Santos Basin pre-salt, offshore Brazil.The well 1-BRSA-1381-SPS (Curaçao) is located 240 km from the city of Santos…
Petroleo Brasileiro SA is expected to commit between $60 billion and $70 billion in capital expenditure (capex) in its next multi-year business plan as Brazil's state-controlled oil company focuses on exploration and production in subsalt areas…
Suriname has been described as the next big thing in the offshore oil and gas exploration world, as its proximity to Guyana where ExxonMobil has discovered around 10 billion barrels of oil so far has led oil companies, including ExxonMobil,…
French steel pipemaker Vallourec narrowed on Wednesday its full-year EBITDA guidance and said it plans to launch the disposal process for its German assets as well as relocate its oil & gas activities to Brazil.'Our German operations continue to underperform…
Norwegian offshore engineering firm Aker Solutions has said it has won a 'substantial' contract with Petrobras to provide a subsea production system and related services for the Mero 4 project, offshore Brazil. Aker Solutions defines a substantial…
TotalEnergies' Bonboni-1 offshore exploration well in the northern portion of Block 58, offshore Suriname has encountered sub-commercial oil volumes and will be plugged and abandoned. Meanwhile, TotalEnergies, with partners APA Corporation,…
Brazil has no plans to join the Organization of the Petroleum Exporting Countries (OPEC) for now, although it is working with the producer group, its energy minister said on Wednesday.Brazilian President Jair Bolsonaro said in 2019 he wanted his country to join OPEC…
Dutch FPSO specialist SBM Offshore has won contracts to perform Front End Engineering and Design (FEED) for an FPSO for Exxon's Yellowtail development offshore Guyana. This will be SBM Offshore's largest-ever FPSO.The FEED contract for what will be Guyana's fourth FPSO…
Oilfield services company TechnipFMC has said it has won 'a large' contract with ExxonMobil, to supply the subsea production system for the Yellowtail development in the U.S. oil major's Stabroek Block, offshore Guyana.For TechnipFMC, a “large” contract is between $500 million and $1 billion…
Malaysian FPSO supplier Yinson has signed two letters of intent with Brazilian oil company Petrobras for the charter, operations, and maintenance of Integrado Parque das Baleias (“IPB FPSO”), a floating, production, storage, and offloading vessel in the North Campos Basin…
Exxon Mobil is in discussions with Dutch contractor SBM Offshore NV to build a fourth multibillion-dollar production unit to develop its Guyana oil discoveries, two people close to the negotiations said.The talks include the potential for some future platform assembly in Guyana…
Offshore seismic surveyor PXGEO has been awarded an ocean bottom node survey contract in Brazil.PGXEO said that the project, awarded by the Brazilian oil company Petrobras, would start in the second quarter of 2022.The contract will last for around three months…
Colombian majority state-owned oil company Ecopetrol's third-quarter net profit surged to 3.81 trillion pesos ($983.4 million) on higher crude prices and structural changes implemented to meet recent industry challenges, the company said on Tuesday…