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Petrobras Plans Major Investment Cut for Oil and Gas Platforms Decommissioning

Dec 10, 2024

Brazil's state-run oil firm Petrobras cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters…

Petrobras Slashes Platform Decommissioning Budget

Dec 06, 2024

Brazil's state-run oil firm Petrobras PETR4.SA cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters…

Brazil's PPSA to Auction 78 Million Barrels in Mid-2025

Dec 06, 2024

Brazil's state-run Pre-Sal Petroleo (PPSA) will hold an oil auction on June 25 for an estimated 78 million barrels, the firm's head of finance Samir Awad said on Thursday.The volume to be auctioned off next year will be more than double what was auctioned off this year…

BP Puts Wood in Charge of Engineering Scope for Capital Projects

Dec 05, 2024

Consulting and engineering firm Wood has signed three major agreements with BP to provide engineering and project delivery services for its capital onshore and offshore projects worldwide.The contracts cover a new master services agreement (MSA) for Engineering…

Oil India to Lease Seven Drilling Rigs

Nov 26, 2024

State-run explorer Oil India plans to lease up to seven drilling rigs in the next fiscal year starting April, chairman Ranjit Rath said on Tuesday.The company has already deployed over 20 rigs, including one offshore rig, Rath added.Oil India…

ConocoPhillips Wraps Up $22.5B Marathon Oil Acquisition

Nov 26, 2024

U.S. oil and gas company ConocoPhillips has completed the acquisition of Marathon Oil Corporation in a $22.5 billion takeover deal.The $22.5 billion acquisition was first announced in May 2024 as an all-stock transaction, which includes $5.4 billion of Marathon's debt…

DeepOcean Lands Its Largest IMR Contract to Date for Equinor’s Norwegian Assets

Nov 21, 2024

Ocean services provider DeepOcean has secured a long-term subsea inspection, maintenance and repair (IMR) contract from Equinor, its largest contract on record.The eight-year contract will set a new benchmark for digitalized and environmentally friendly IMR operations…

ExxonMobil Pulls Out from Block Offshore Suriname

Nov 20, 2024

Suriname's state-run oil company Staatsolie said on Wednesday that ExxonMobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&P will take over its 50% stake.'The withdrawal is part of the ongoing evaluation of assets in ExxonMobil's global portfolio…

Saudi Aramco Suspends Another Borr Drilling’s Jack-Up

Nov 20, 2024

Offshore drilling contractor Borr Drilling has received a notice of temporary suspension for its jack-up rig Arabia II, currently under contract with Saudi Aramco.The temporary suspension will be for a period of up to 12 months, Borr Drilling said…

SLB to Simplify Complex Wells Drilling with Stream Telemetry Service

Nov 12, 2024

Global energy technology company SLB has launched Stream high-speed intelligent telemetry, which is said to increase drilling confidence and performance for complex wells.Designed to overcome the bottlenecks and limitations of conventional mud pulse telemetry…

Sea1 Offshore Orders Two Offshore Energy Support Vessels

Nov 04, 2024

Sea1 Offshore, formerly Siem Offshore, has entered into shipbuilding contracts with Cosco Shipping (Qidong) Offshore for two new offshore energy support vessels.Based on ST-245 design, the vessels will have capabilities to serve both oil and gas and renewable energy markets…

Petrobras Targets Tupi Oil Field Production Increase in 2027

Oct 25, 2024

Brazil state-run firm Petrobras plans to bring oil production at its Tupi oil field back to 1 million barrels per day (bpd) in 2027, as it plans new investments in the asset, its director for exploration and production Sylvia dos Anjos told Reuters on Thursday…

CRC Evans Wraps Up Welding Job Offshore Nigeria

Oct 21, 2024

CRC Evans, a company offering welding and coating services to the energy sector, has completed its work scope to deliver a range of welding services to support First E&P’s Alpha Project located offshore Nigeria.A greenfield development, Project…

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