Offshore Activity - page 1028

 

Petrobras Puts Papa Terra Offshore Oil Field Up for Sale

Feb 03, 2020

Brazil's Petrobras has launched a teaser for the sale of its entire share in the Papa Terra field, 110 kilometers from the coast offshore Brazil.The Brazilian oil company said that the planned sale of the field was in line with its portfolio optimization and improvement of capital allocation…

KBR Lands 'Major' PMC Contract for Ghasha mega-project

Feb 03, 2020

U.S. engineering and construction giant KBR has won what it says is 'a major Project Management Consultancy (PMC) services contract' with the UAE-based oil company ADNOC.KBR said Monday that the contract was related to the Ghasha Concession portfolio of projects…

Guyana: Orinduik Block in Resource Estimate Boost

Feb 03, 2020

Tullow Oil's Orinduik Block offshore Guyana could hold 5,1 billion barrels of oil equivalent in Gross Prospective Resources, best estimate, according to Gustavson Associates, an independent third-party auditor.This is more than a billion-barrel…

U.S. Ready to Assist Brazil with Offshore Oil Auctions

Feb 03, 2020

The U.S. government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy said on Sunday, after the South American nation's attempt to sell tens of billions of dollars of production rights to private firms last year largely flopped…

Report: Chrysaor Talks to Buy Rival Siccar Point End

Jan 31, 2020

North Sea private equity-backed Chrysaor's talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations, three sources close to the process said. The breakdown in negotiations highlights difficulties…

Chevron Posts $6.6B 4Q Loss on Impairments

Jan 31, 2020

U.S. oil major Chevron slumped to a $6.6 billion quarterly loss compared to 4Q 2019 $3.7 billion profit, citing previously announced impairments on several projects.'Included in the [4Q 2019] were previously announced upstream impairments and write-offs totaling $10…

Lundin Ups Spending, Output Plans

Jan 31, 2020

Sweden's Lundin Petroleum, a partner in Norway's giant Sverdrup oilfield, raised its dividend payment and output expectations on Friday after beating fourth-quarter profit forecasts.Earnings before interest, tax, depreciation, and amortization (EBITDA) rose to $695…

Total Picks PBS for UKCS Maintenance

Jan 31, 2020

Total's UK subsidiary has selected PBS, a recently formed consortium in Aberdeen, to provide general maintenance of all its operated oil and gas assets in the UK.'This new contract will bring together previous separate contracts for Total E&P UK’s sites…

Proposed Bill Calls for More Transparency with Offshore Incidents

Jan 31, 2020

U.S. Congressman A. Donald McEachin, a Democratic representative from Virginia, has introduced legislation that would require offshore oil and gas operators to report failures of critical safety systems directly to the Secretary of the Interior…

Hokchi Charters Cantarell III Jack-Up Rig

Jan 31, 2020

Hokchi Energy, a subsidiary of Argentina's Pan American Energy, has chartered the recently delivered jack-up rig Cantarell III from Grupo R for operations offshore Mexico.As reported previously the Cantarell III jack-up drilling unit arrived…

BPC to spud Bahamas well in April

Jan 31, 2020

Bahamas Petroleum expects to start drilling at its first exploration well offshore The Bahamas in April 2020. The company said Thursday that the well, named Perseverance 1, would be drilled in April, with results expected in the second quarter of 2020…

Coro Energy Pulls Out of Bulu PSC Deal

Jan 31, 2020

The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing  increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…

Nigeria: Arrest Warrant Out for Ex-Oil Minister

Jan 31, 2020

Lawyers representing former Nigerian oil minister Dan Etete told Reuters on Friday it was 'incredible' that a court had issued a warrant for his arrest in relation to a $1.3 billion oil deal scandal nine years after it was struck. Economic and…

Orsted Exceeds Own 2019 Core Profit Expectations

Jan 30, 2020

Orsted, the world's largest offshore wind farm developer, exceeded its own full-year core profit expectations on Thursday on the back of strong generation from its wind farms but said it expected this year's result to be slightly lower.Its 2019 earnings before interest…

Serica Halts BKR Production as Issues Found on Bruce Platform

Jan 30, 2020

The North Sea operator Serica Energy has halted production from Bruce, Keith and Rhum (BKR) fields, after an inspection unveiled issues aboard the Bruce offshore platform.'During a Bruce platform inspection, the condition of an unused seawater…

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