Brazil's state-run oil company Petrobras has said it's ending a process to sell its Albacora concession, located in deep waters of the Campos Basin.Petrobras had been negotiating with PetroRio over the sale of the field. However, it says 'despite the efforts of both parties, it was not possible to converge on conditions that would reflect the valuation of the asset for Petrobras'. Petrobras said it would continue with the Albacora revitalization project…
Norway-based subsea services provider Reach Subsea has recently signed contracts amounting totally in excess of NOK 200 million, including an important strategic contract in the Brazilian market, which was signed yesterday (7 Sept). The contract…
Petrobras has completed the sale of all its stakes in the producing fields of Peroá and Cangoá, and in the BM-ES-21 concession (Malombe Discovery Evaluation Plan) jointly called Peroá Cluster, located in the Espírito Santo Basin to the company 3R Petroleum Offshore…
KOTUG's subsidiary KOTUG Guyana has been awarded a second contract by ExxonMobil affiliate Esso Exploration and Production Guyana to support operations in Guyana. KOTUG’s latest addition, the 120 tonnes bollard pull strong SD Honour, will join…
Tullow Oil said on Friday it would abandon drilling operations at Beebei-Potaro exploration well in offshore Guyana after results showed the well bore water.The group, which holds 37.5% of the Kanuku block where the well lies, said it would…
Mexican state oil company Pemex expects to post a rare annual profit this year, with two consecutive quarters already in the black and a boost to crude output from new fields, Chief Executive Octavio Romero told Reuters.If achieved, it will be Pemex's first annual profit in more than a decade…
There were 268 offshore drilling rigs active in the world in January 2020, oilfield services giant Baker Hughes said in its monthly rig count report released Friday.This is a slight increase compared to 266 offshore rigs actively exploring for oil and gas counted in January 2019…
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