Offshore South America News - page 10


Strohm's Deep-Water Thermoplastic Composite Pipe Jumper Installed Offshore Guyana

Aug 16, 2023

Strohm’s first deep-water/high pressure thermoplastic composite pipe (TCP) Jumper in South America has been installed, commissioned, and is up and running for ExxonMobil Guyana at its Liza field.The Jumper, incorporating advanced carbon fiber and polyamide12 materials…

Frontera to Evaluate Guyana Offshore Oil Discovery Before Proceeding

Aug 14, 2023

Frontera Energy and its unit CGX Energy expect to complete an analysis in the next two to three months of the Wei-1 oil well in Guyana before deciding whether to upgrade an exploration license to its development phase, Frontera said on Friday…

Solstad Offshore Wins $100M Vessel Contracts with PRIO and Equinor in Brazil

Aug 11, 2023

Solstad Offshore has been awarded two contracts worth $100 million in total from Brazilian clients.The Norwegian offshore vessel owner said that its construction support vessel, Normand Pioneer, won an extension of its charter contract with…

Guyana Oil Legislation Will Grant Broad Powers to Energy Minister

Aug 11, 2023

Guyana’s parliament on Thursday passed long-awaited oil legislation that grants the natural resources minister extensive power over its multi-billion-dollar oil industry. The new rules will be applied to future projects in the South American country…

Tullow to Sell Guyana Offshore Block Stake to Eco Atlantic for $700,000 and Potential Future Payouts

Aug 10, 2023

Oil company Tullow Oil agreed to sell its total interest in Tullow Guyana, which includes the Orinduik license (Tullow 60% operated equity) in Guyana to Eco Atlantic's subsidiary Eco Guyana Oil and Gas (Barbados) Limited in exchange for a combination of upfront cash and contingent consideration…

Amazon Nations Summit Faces Fault Lines on Oil, Deforestation

Aug 08, 2023

Eight Amazon rainforest nations are expected to face divisions over proposals to block new oil drilling and end deforestation when they meet on Tuesday for their first summit in 14 years.The meeting of the Amazon Cooperation Treaty Organization (ACTO) gathers heads of state from Bolivia…

APA's Appraisal Well Confirms Extension of Oil Resources Offshore Suriname

Aug 04, 2023

APA Corp. said on Wednesday its most recent appraisal well in Block 58 off Suriname's coast confirmed the extension of oil resources 14 kilometers from the discovery well.APA's exploration in Suriname has been closely watched as it could become Suriname's first commercial deepwater project…

Brazil's Petrobras Beats Profit Forecast, $3 bln Payout Announced

Aug 04, 2023

Brazilian national oil company Petrobras posted a nearly 36% drop in its second-quarter profits on Thursday, citing falling crude prices, although earnings surpassed analyst expectations. Latin America's top oil producer posted recurring net profit of 28…

Yinson Acquires Atlanta FPSO. First Oil in Mid-2024

Aug 02, 2023

Malaysian FPSO leasing firm Yinson Production has acquired the Atlanta FPSO, a floating, production, storage, and offloading vessel that will serve as a production unit at Enauta's Atlanta field in Brazil.Yinson acquired the FPSO through the acquisition of AFPS B…

Venezuela-Trinidad Offshore Gas Project Talks Hit Sticking Point Over Terms

Jul 28, 2023

Negotiations between Venezuela and Trinidad and Tobago to jointly develop an offshore gas field near the maritime border have hit a sticking point following Venezuela's refusal to accept the terms of a U.S. license, the Caribbean nation's Prime Minister Keith Rowley said on Thursday…

Guyana Extends Offshore Oil Block Bids Deadline to Attract New Explorers

Jul 28, 2023

Guyana extended to Sept. 12 a deadline for companies to submit bids for its first competitive auction of oil blocks, the government said in a statement on Wednesday.The South American nation has delayed the offer of 14 offshore blocks four times before…

Petrobras' Oil Output Dips Slightly in Second Quarter

Jul 27, 2023

Brazilian state-run oil company Petrobras said on Wednesday its second-quarter crude oil production fell 0.6% compared to the same period last year. The firm pumped 2.10 million barrels per day (bpd) between April and June, it said in a securities filing…

Vallourec Secures Two Major Orders to Supply Line Pipes for Brazil's Mega Oil Field

Jul 25, 2023

French steel pipemaker Vallourec said Monday it had won two major orders to supply line pipes for phases 6 and 8 of the Buzios oil field development operated by Petrobras. These orders are in addition to the contract previously won for phase 7…

OceanPact Buys Two AHTS Vessels from Akastor's DDW Offshore

Jul 25, 2023

Brazilian offshore support vessel service company OceanPact has acquired two AHTS vessels, Skandi Saigon and Skandi Pacific, from Akastor's subsidiary DDW Offshore.OceanPact chartered the two vessels in March 2021 to support Petrobras' operations…

Venezuela Expects to Sign Gas Licenses by Year-end, Oil Minister Says

Jul 24, 2023

Venezuelan expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions.Most of the South American country's gas reserves remain undeveloped after decades of insufficient investment…

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