Transocean Ltd. has announced that Petrobras has exercised a 680-day pre-existing, fixed price option for the Deepwater Corcovado, and an 815-day pre-existing, fixed price option for the Deepwater Mykonos. Together these contract extensions add approximately […]
Despite the effects of COVID-19 on global demand and supply, the outlook for South America’s offshore production is on track to surpass volumes coming from North America by 2024. While several projects in Brazil and […]
Total has announced that it has reached an agreement on September 24th, 2020 to transfer to Petrobras its equity interest in five exploration blocks in the Foz do Amazonas Basin, located 120 kilometres offshore Brazil. […]
The COVID-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around USD 53 billion from 2019’s USD 190 billion, Rystad Energy projects. Postponed […]
Total has announced that it has notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometres offshore Brazil. […]
Subsea 7 has announced an agreement with Petrobras to extend by 1 year the current long-term day-rate contracts for three pipelay support vessels (PLSVs) operating offshore Brazil. The extensions have a combined value of approximately […]
In partnership with Solstad and Oceanpact, Fugro has been awarded three long-term contracts by Petrobras to provide remotely operated vehicle (ROV) services for a variety of subsea activities in Brazil. All three contracts are for […]
TechnipFMC has been awarded a large contract for Engineering, Procurement, Construction and Installation (EPCI) through a competitive contracting process, by Petrobras, the leader and operator of the Libra Consortium, which was formed by Petrobras, Shell […]
South America has made a cost-cutting leap since 2013, when it was the world’s most expensive region for deepwater oil and gas production costs. Average operational expenditure (opex) per barrel of oil equivalent has more […]
Total and its partners have taken the investment decision for the third phase of the Mero project (Libra block), located deep offshore, 180 kilometres off the coast of Rio de Janeiro, in the prolific pre-salt […]
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