The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
Aker Energy has signed a letter of intent (LoI) on a floating production, storage and offloading (FPSO) with Yinson Holdings Berhad.
Galp will focus on major upstream projects, company executives said today, but these must be able to compete in a world where demand may be constrained.
Plans for an IPO for marginal field-developer BW Energy have been pushed back – and pricing scaled back – in light of financial volatility, blamed on the coronavirus in China.
Equinor has dished out feed contracts for phase one of the Bacalhau (formerly Carcara) area in Brazil.
BW Energy expects to price shares in its IPO at 34.2-36.6 Norwegian krone ($3.74-4), valuing the company at $700-750 million.
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
Oilfield technology firm Deep Casing Tools (DCT), of Aberdeen, said yesterday it had appointed a Brazil-based partner to help it win orders in South America.
Avenir has set out a planned entry into a second country, Brazil, under a small-scale LNG delivery scheme with Golar Power.
Brazil had its second failed oil auction in two days, prompting government officials and the head of the state-run producer to criticize bidding rules.
An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates.
The US’ Foreign Corrupt Practices Act (FCPA) is the benchmark for anti-corruption efforts around the world but the ways in which it is being used are changing, as various countries work on their own efforts.
It was supposed to be BP’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore oil.
Brazil's main environmental agency said it has detected 105 crude oil spills from an undetermined source polluting the waters of the country's north east coast this month.
A first of its kind event focussing solely on the subsea and drilling industries in Brazil is set to take place in Rio de Janeiro in November.
Chariot Oil & Gas is covered for its near-term work commitments but to step ahead it must sign up partners for its various projects.
Houston-headquartered energy service firm Halliburton has been handed a contract by Petrobras for pre-salt development in the Santos Basin, offshore Brazil.
Trac Oil and Gas’ boss believes the time is right to revisit the firm’s international expansion plans after getting off to a false start several years ago.