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Petrobras plans US$73 billion investment to boost Brazilian naval and offshore industries

OilNOW -
Petrobras, Brazil's state-controlled oil company, has unveiled plans for investments exceeding US$70 billion in exploration and production activities. These investments aim to not only bolster the country's energy sector but to create significant opportunities for the domestic naval and...
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SLB introduces cutting-edge technologies, achieving remarkable results in Guyana operations

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Schlumberger Limited (SLB) said it introduced groundbreaking technologies in Guyana, setting a new standard for performance in offshore operations for ExxonMobil, in the Stabroek Block. In an open-water-work campaign consisting of 13 wells, SLB said advanced tools revolutionized the drilling...
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European geo-consultants team up with Staatsolie for oil seep study offshore Suriname

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The UK-based geo-consultancy firm GeoPartners Ltd struck a deal with Suriname’s state oil company Staatsolie and TROIS Geoconsulting from the Netherlands for a multi-client geochemical piston core project.  GeoPartners via a LinkedIn announcement said the venture aims to deliver oil...
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SLB reports strong Q1 2024 results, aims to return US$7 billion to shareholders

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SLB, a leading oilfield services company, has announced its first-quarter 2024 results, showing “robust” revenue growth and strategic plans to return US$7 billion to shareholders over the next two years. Commenting, SLB Chief Executive Officer Olivier Le Peuch remarked, “We...
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Room left for Washington to negotiate with Venezuela despite return of sanctions – Rystad Energy

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Rystad Energy believes that though U.S. sanctions are back on Venezuela, there remains room to negotiate with the Nicolas Maduro-led administration through the provision of special licenses.  Senior Vice President at Rystad Energy Jorge León, weighed in on the development,...
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Guyana oil production jumps 38% in first quarter

Kemol King -
Guyana’s Stabroek Block jumped 38% in overall oil production in the first quarter of 2024, compared to the prior quarter.  In the fourth quarter of 2023, the three ExxonMobil-operated projects (Liza 1, 2 and Payara) collectively delivered 40.3 million barrels...
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Guyana’s Denzel Southwell makes history as nation’s first local offshore driller – El Dorado Offshore 

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See release from El Dorado Offshore Inc.: Denzel Southwell's journey is one that defies expectations. Hailing from the small village of Sandvoort in Berbice, Guyana, this 27-year-old has shattered glass ceilings to become the first Guyanese Auxillary Assistant Driller...
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‘Guyana Brand’ now more powerful than ever – Ali

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In his address at the opening of the April 16 Local Content Summit in Georgetown, President of Guyana, Dr. Mohamed Irfaan Ali, said the "Guyana Brand" has reached unprecedented levels of global recognition and influence, signaling a new era...
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SBM Offshore secures US$250 million term loan to begin construction work on new Guyana-bound FPSO

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SBM Offshore said it has secured a US$250 million term loan facility to commence construction work on the Jaguar floating production, storage, and offloading (FPSO) vessel.  The tenor of the bridge loan is twelve months with an extension option for...
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Subsea7 completes pipeline replacement for Shell, Brunei government

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Subsea7 said the Pipeline Replacement Project 8 (PRP-8) offshore Brunei has been completed and delivered in line with Brunei Shell Petroleum Company (BSP) expectations. Shell and the Brunei government are 50:50 shareholders in BSP. PRP-8 is a turn-key project that...
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MODEC completes delivery of Errea Wittu topsides modules with zero carry-over work

MODEC said it has successfully completed and delivered the Errea Wittu FPSO topsides modules at the BOMESC yard in...

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