SBM Offshore has signed a contract with Brazil’s Petrobras on the delivery of a floating production, storage and offloading (FPSO) vessel on the Mero field.
Subsea 7 has won a contract with Petrobras for development of the Mero-3 field off Brazil.
Total has no clear view on prices in 2021 and is taking a cautious stance on spending plans, the company’s CFO Jean-Pierre Sbraire said after the company published its third quarter results.
Total has reported adjusted net income of $848 million, with an organic cash breakeven below $25 per barrel.
TechnipFMC enjoyed its strongest quarter of the year for new orders in the three months ended September 30, booking in $2.2 billion of new deals.
Total remains committed to developing hydrocarbon resources, but the cost must be sufficiently low to survive in a world of lower prices, the company’s chairman and CEO Patrick Pouyanné has said.
Total and its partners have taken an investment decision for the third phase of the Mero project offshore Brazil.
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.